All Forum Posts by: Stefhan Malherbe

Hello,

I need some advice please on what my options are to do deal with noisy neighbors.

My property was used as a long term rental and I have recently converted it to a STR. I've pulled out all the stops and the house, neighborhood and location is perfect for a STR. As soon as I listed the property it got booked up to April which I am very happy about!

The problem is my neighbors.. There are about 5 families living in the house with sometimes up to 6 cars in the driveway. This is the only house in the street with so many people living in it. 

There is a lot of noise coming from that house in a generally quiet neighborhood. A lot of noise given how many families live in the house - this is understandable. But my issue is they play very loud music, mostly during the day and evenings, which is during social hours, but they play the music so loud that it is impossible for anyone in my backyard to have a conversation with the person sitting next to you. When they park their cars in the evening they have to arrange all the cars to fit them in all around the house and driveway, they use their car horns to direct each other where to park... Again, because of all the families living there they generate a lot of garbage which just gets dumped on the curb next to my property - a huge eyesore for the whole street.. They have small dogs which they leave outside that bark day and night. I have already had a guest complaint about the dogs..

I can live with the garbage issue, but the loud music and dogs will lead to bad reviews which I cannot afford in a very competitive market.

I would appreciate any feedback on what my options are in this situation. Do I contact the landlord or the city council? I can't imagine the police will get involved since they are not noisy after social hours.

Thank you,

Stefhan

Thanks for the feedback, much appreciated. 

Hello,

I am a forgein investor that owns my properties in FL via a FL LLC.

The properties have appreciated well over the 6 years I've owned them. I am working with a mortgage broker but would like to get a second opinion:

In February the lender quoted 6.25% for a 5 year fixed, interest only, 70% LTV product, the appraisals were completed and the properties appraised higher than expected. The appraisals took a while to book due to scheduling issues with the tenants.

The same lender sent me their terms and the interest rate now jumped to 7.25%..

Start rate 6.625%

-.125 ACH payment

-.375 5y PPP

+.25 cash out

+.25 2 units

+.375% FOREIGN NATIONAL WITHOUT US CREDIT

+.25 interest only

Rate 7.25% 30 yr fix ( interest only for 5 years)

Rate 7.125% 5 yr fix interest only for 5 yrs.

Is the new quoted interest rate (7.25%) ballpark for a forgein investor for a 70% LTV cash out product?

Hello BP community,

Can anyone recommend a good accountant in the Ft Lauderdale / Palm Beach area?

Appreciate the input.

Thank you 

Hello,

I am looking for a recommendation for property management company in Palm Beach Florida. I am an out of state investor and need a full management service.

I appreciate any recommendations.

Thank you

Hello James,

I've just emailed you. The subject is Refinance FL multi-family property 

Thank you

Hi James,

Thank you for your response. It sounds like I might still have a lending option. 

What info would you need from me in order to see if I would qualify for a cash out refinance?

As mentioned in my original post, I am a foreign investor but the property is owned through a FL LLC.

Can I get your email or send you mine?

I am a foreign investor with multi-family properties in FL. The properties are owned through a FL LLC and I am the manager.

I want to do a cash out refinance and use the cash for a deposit on my next property. My mortgage broker is telling me that due to COVID there are currently no lenders in FL that will do a cash out refinance for more the 55% LTV. I need to achieve a 65% LVT to make my next deal work.

Are there are any mortgage brokers on this forum that can confirm what my broker is saying is correct? 

I appreciate any feedback. 

Thank you,

Stefhan