All Forum Posts by: Cheng Bin Zhang

Hi Cassandra!  Welcome to BP.

We're actually looking to get into the short term rental space in Boston/Great Boston Area.

Do you have a webpage/listing of your services and existing clients?

Thanks,

Cheng

Hi Aaron!  Welcome to the community!  Do you have a target area?  I'm a relatively new investor as well.  Happy to meet and chat.

Best,

Cheng

Hey John,

Are you at the Jamaica Plain VAMC??   I worked there for 5 years in their clinical engineering department!  Small world.

We're actually both on the same boat. That's the only way you'll likely find a solid deal in the Boston/Greater Boston Area. I have access to MLS and can send you listings. No strings of course.

I heard there was a huge flood in the VA after the winter, how's that coming along?

Best,

Cheng

@Farouk El Khatib

Hi! I'm also beginner investor looking for our 3rd property. Depending on your appetite for risk, you can look into C/D class properties/neighborhoods in Boston/Greater Boston Area. I have colleagues that target properties in Roxbury, Dorchester, Chelsea, Worcester with section 8s and they seem to cash flow very well. Esp. if you're planning on OO, you'll get solid financing. The risk/opportunity is in dealing with section 8 tenants. :)

Let me know if you're ever in town and we can chat/share stories.

Cheng

Hi All,

Have a few questions regarding the collection of security deposits.  In the commonwealth of MA, I understand there are strict regulations around security deposits including:

1. Having a Tenant-Landlord Checklist to review what work/doesn't work.

2. Setting up separate security deposit (interest bearing) accounts to hold the security deposits until the tenancy ends.

3. I believe we must return the security deposit to the tenant within 30 days from the termination of the lease.

4. All deductions on the security deposits should be supported by photos, contractor invoices, etc.

I have not implemented and have the following questions:

a. Should I create and show the preset repair pricing list to the tenant ahead of time (when we complete the landlord-tenant checklist)? 

b. What if the tenants leave and don't provide me with a forwarding address to return the security deposit?  Do I get to keep it?  After how many days do I have to wait?

c. What if there are multiple tenants jointly and severally responsible?

Happy to hear your thoughts.  Fairly small portfolio at the moment so might not have the resources to invest in a big complicated process.

Thanks,

Cheng

Hey Kevin,  I'm a relatively new buy and hold investor as well.  Also working in Cambridge, living in Boston. We did 3 deals in the past few years and a couple in JP. Let me know if you want to chat. 

Cheng

Hi All,

We recently purchased a property with an adjacent lot on the property.  The lot (just over 1600sqft) is not compliant by current Boston zoning standards for development but there are certainly "skinny-mini" townhouses that have been grandfathered into the system.  I'm assuming any permit to build will have to go through variance which can be a lengthy process.

From my standpoint, it's too big of a "yard" to be maintaining in a crowded city hungry for housing.  Not sure if anyone within Mass or Boston specifically had dealt with issue similar to this?  Where would you recommend I start?  Are there good literature/sources available?

Thanks!

Cheng

Hi All,  This is somewhat of a part relationship, part real estate investment question.  My girlfriend and I are looking to move in together.  She currently rents and shares a nice 3 bedrooms apt.  I've been house-hacking and living as owner-occupied.  She is uncomfortable with the idea of moving into a property that I own and proposes that we move into a rental together.  As some may know, the Boston rental market is on fire given the students and young professionals.  Here are my pros and cons so far:

1. Rental

a. Pros: Placates GF, Opportunity to leverage rental status to facilitate underwriting for next owner-occupied property, potentially save money if we find the right property?

b. Cons: I have to move further away from my properties and give up amenities (basement storage, parking, etc.

In any case, I'd like to tap into the BP community and get some opinion on this subject.  Sorry I know it's not entirely RE related and rather subjective.

Thanks!

Cheng

Ahoy!

My name is Cheng and I am a native New Yorker living, working, learning and investing in Boston.  I am here to learn and make new friends that share a passion for property investments and management.