Wilmington, NC - Market Tour

[John Cohen]

BiggerPockets,

I wanted to share an experience with the community:

Today I toured a property in Wilmington, NC. After my tour, I finalized my LOI and submitted it to the broker. I showed the broker I was serious by flying down once I found out about the property and saw the potential upside. I came down with my management team and contractor to show the broker what my plans are and that I am prepared. I don't want to lose this deal and given the market conditions, I know I have to be aggressive with my terms and deposit.

I am excited about this project and the potential it has. The upside in the deal is NEW management, NEW branding, and rent increases. The Wilmington area is a great market and hope to lock this down and that this is my first deal of many in this market.
 

The broker told me he is meeting with the owner tomorrow at 10am and hopefully will have some feedback for me (I WANT a contract). 

I will update everyone if I get contracts tomorrow. If anyone has any questions or want more information about the deal please PM me or ask away!! Also any investors that don't mind sharing information with me about Wilmington, NC or want to chat about the area please let me know.

John