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All Forum Posts by: John Spina jr

John Spina jr has started 25 posts and replied 132 times.

Post: Newbie from Staten Island

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

@Ronny Tiburcio  @Kyle M. @Matt B. Hey guys just throwing this out there. Maybe sometime within the new year we can have a meet up?

Post: REI meetings in Staten Island, NY

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

@Ronny Tiburcio @Matt B. Hey guys I would definitely be interested in a meet-up to bounce ideas around. Im a licensed and insured GC in Staten Island looking to buy my first flip.

Post: Looking at my first deal possible duplex fix and hold

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

Hey all BP members!! I have this potential deal that I would love to close. This house is on the same block as me. Located in Staten Island, New York. Im waiting to hear back from the owner I just left him a voicemail right before I wrote this. 

The info came to me from my aunt. Who I should mention rents the top half for $1200 a month. The house was owned by a old couple who passed away last year. The son and siblings inherited the property. The son recently told my aunt that he's looking to put it on the market soon. The house is a 6 over 6 and was built in 1960, the estimate on Zillow is $530,000. I know NY prices are insane. The bottom half would include driveway, basement and backyard and could probably rent for $2,200. As of right now the bottom half is currently vacant.

My aunt called me and told me right away because she knows I have been educating myself in REI. A little about myself, I recently formed a general contracting company fully licensed and insured in NY.

Again I'm not that experienced in REI but I feel that this can be a good deal, my aunt wouldn't have to move and I would acquire a rental property. My plan was to fix it up and force equity and keep it as a rental under my business name. Im also looking to buy my own house in the next year. Im getting married next year and would like to buy my own house unrelated to this one. With that I thought it would be a good idea to see if I can acquire this property under my business name. This way I could get a business 203k loan to buy the house and fix it up. Then refinance after all the work is done and I have the house fully occupied (aunt upstairs and new tenant downstairs). Plus I would be doing most of the work myself so I will save a ton on labor.

Can some one please tell me if I'm on to something here? 

Id be happy to hear anyone's advice on how I could possible make this work.

If any more details are needed let me know.

Post: New member from NY, NY

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

@James Lee @Matt B. Nice to see other from my area. Im a general contractor from Staten Island. Looking to start my first flip very soon. Ive been doing residential renovations in Staten Island and Brooklyn building capital to buy my first flip. Message me if you have any questions. Good Luck!

Post: NYC based real estate investors?

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

If anyones willing to come to staten island id be more than happy to set one up

Post: Went to my first meet up!

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

Hey all BP members. This morning I attended my first meet up group and it was awesome. 

It was hosted at a local diner and included about 38 of its members who were from many different backgrounds of experience.(Real Estate Attorney, Agents, Contractors, Advertisement, and Consumer Affairs and many others.) I was able to promote myself, I handed about at least 10 business cards, some people just came up to me and asked for one, while others I offered to give to in conversation. I learned a lot about my community and where others that are more successful than me are headed. I also learned that this group really cares about each others businesses succeeding. Everyone in the meeting has received or has ben given many recommendations to someone else in the group. I found that really great, its the small business and large business owners all helping one another in the community. I was very happy to be there and I am looking forward to attending more in the future.

 Let me just explain the nerves that went through me right before I walked in. I was nervous being 28 years old with a brand new business trying to promote and myself as the only employee (for now), I was afraid of looking inexperienced, unintelligent, in front of all those people. Not to mention I was 15 mins late. This meant I had to walk in right in the middle of a discussion which was going to focus everyone attention on me. Going over all of this in my head, standing outside the diner, I started walking back to my car in defeat. But then I stopped and realized that I heard many people say about FEAR. It stands for False Evidence Appearing Real. Ive hear Brandon Turner say it many times on the podcasts. 

So after reflecting, I walked right into the diner took the initial hit of interruption tried to be as polite as possible, quietly found my seat and just started listening to the discussion. A few moments later I was singled out and was asked to introduce myself and state what my reason was for attending. Clearing my throat I stood up, introduced myself and spoke slightly about my experience and ended saying that I was interested in networking with others in my community. After that the meeting proceeded for about an hour. It was after the meeting I spoke and met with an architect, a residential and commercial flipper and an owner of a brokerage firm. I handed out cards and received a lot of great insight from people who respected me for coming in and showing vulnerability. 

Hopefully I established some good connections and even better relationships. The reason for me writing this is to show people not to be scared and not to hold themselves back from fear. Don't let fear win. Put yourself out there and share. That is how people have done better than me, where I inspire to be. 

Good luck to everyone! 

Post: Father & Son Private Money Lending (Now with a new SBA 504 loan!)

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

Hey I'm a new general contractor based out of Staten Island, New York. My business is fully licensed and insured. Im looking to start my first job so I've been trying to advertise everywhere I can. Would you be able to elaborate a little bit more on how this loan works? Maybe this will be my first flip coming soon. Is it like a 203k?

Post: How to expand and grow my business

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

Hey all BP members! I have a general contracting company based out of Staten Island, NY. Im looking to get my first job started. Can anyone help me with recommendations on way to get my name out there and let people know what I do?

Post: Digging in the basement

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

@Dave Francis Im all for opening up rooms but make sure that you do not mess with the structural stability of the property. Id definitely do my homework before you break ground. 

Post: Helper looking for work in NY/NJ/PA (or general northeast) area

John Spina jrPosted
  • Contractor
  • Staten Island, NY
  • Posts 147
  • Votes 38

Im currently in the process of starting my corporation. Waiting for the paper work from my attorney. After everything is finalized ill be looking for handy and knowledgable people to help with renovating and home improvement jobs. Would you be interested working in Staten Island?