Multifamily Opportunity near Camp Lejeune, NC / Jacksonville, NC

[James P. Hill]

I am currently working on a deal with a developer to build some multifamily townhouses that will be near Camp Lejeune, NC. I am looking for investors that are interested in purchasing new construction townhomes potentially including duplex, triplex, and/or quadplex.

There are challenges to finding multifamily deals in the Jacksonville, NC and Wilmington, NC areas near Camp Lejeune, NC. There aren't many to find on the MLS and investors I regularly meet with have been saying the market just doesn't support buying right now. Some investors believe it is a seller's market due to the multiple offers coming in on listings. The truth is it depends on the location, subdivision, school districts, listing price, and HOA. Investors who follow the dollar cost averaging mindset buy in all markets because the market highs and lows are unpredictable. What is considered market price today could be considered a fantastic deal and genius business decision in the years to come if the housing market continues this steady climb and the coastal North Carolina population continues to grow. It could also be considered a poor decision if the market is close to peaking already. Current trends and new infrastructure projects (Topsail Bridge, Surf City Elementary, Dixon Middle School, Hampstead Bypass and lots of new housing community developments) lean towards growth. Only time will tell where the market will be in the future.

I have discussed the multifamily deal with a local lender and a couple investors that like the way the deal is coming together. I am working to structure the deals so the they will qualify for VA Loans (1-4 units) and offer local military members the opportunity to house hack in one unit while renting out the other units to Marines, Navy, and Coast Guard members stationed nearby, as well as, civilian community members. I intend to purchase one of the townhouses and rent (house hack) the other unit(s) using my own VA Loan. Please reach out to me if you are interested in learning more about this opportunity.

I would love to talk with BP investors that have put similar deals together.

Thanks,

James Hill

Real Estate Agent / REALTOR