All Forum Posts by: Claire Baltodano

For anyone utilizing arbitrage in San Diego..

What are your homeowners doing for insurance? I am arbitraging an older property that Proper would not cover. I found C-Biz, one of the only providers that would write a policy for an arbitrage scenario. My homeowner informed his carrier I would be subleasing and his agent told him he would not be covered if the company found out he was subleasing. C-Biz is also writing a policy for him, but it is double the cost his traditional policy (which I understand is to be expected) and he'd like me to pay the difference. 

I have asked this question in other forums but I can't seem to get a straight answer. Some of the agents I spoke to advised the homeowner would simply stick with a landlord policy since his contract with me is technically long-term. Other agents advised regardless of who is running the business out of the home, this changes the scenario to commercial, which requires a different type of policy. 

In terms of the arbitrage model, homeowners having to pay double in insurance is significant downside, so how are other people getting along? Are homeowners keeping landlord policies only and taking a chance? Has this come up for anyone else?

Any and all feedback is welcome! Thank you!


 

Hey Nolan, 

That sounds awesome, I would love to join. I’ll be there at 5 tomorrow! 

Hello Everyone, 

My name is Claire, I joined BP years ago when I was analyzing deals in Bossier City, LA but was too scared to pull the trigger. I am a Southern California native, but I have moved around some due to the military (Navy Veteran, Hooyah!) and life. I am back, now in Ramona, San Diego, CA! I am currently working as a police officer for a local city, I have a SFH rental in Bossier City but will be selling it soon due to the ex wanting off :/

I also own a condo in Colton, CA, that my mother lives in. I am about to complete a HELOC for the condo for about $140k. I am hoping to use this money to start building my portfolio, I know in this market, it would be impossible (dramatic) without partners. I am very interested in other markets such as Boise, some cities in North Carolina, Georgia, and the list goes on.

I recently started a Short-Term rental business and picked up my first rental arbitrage a month after starting. I am currently seeing how that property goes, it is the slower season at the this time in this market. 

If anyone local, or not, wants to chat about real estate or short-term rentals, I am game! I am here to build relationships with the right people and really take off with scaling my real estate portfolio. I will be at the STR conference next week in San Diego. I am unsure about the STR model, but I am open to feedback and ideas. I am very motivated, ambitious, and constantly seeking out knowledge via relationships, reading, and listening to podcasts. I am absolutely obsessed with finding success in real estate.

I hope to hear from ya'll, thank you so much for reading! 

- Claire