Lender · Boynton Beach, FL · Member since 2026 · 21 posts · 11 votes
Hi everyone, I'm new to wholesaling in Boynton Beach / Delray area.
I've been driving for dollars and pulling lists of absentee owners who have owned since 1999-2005 and now live in Ohio, Michigan, Virginia. These are 20-24 year owners, likely tired landlords.
For those of you experienced in South Florida, how do you approach this type of owner respectfully? I want to offer a fair cash, as-is, no listing hassle solution, but I don't want to sound like spam.
What has worked for you for first contact - mail, text, or cold call? And when you calculate offer for a house around $600K ARV that needs maybe $50K rehab, what range do you use to leave margin for cash buyer but still be fair to seller?
I'm a wholesaler, not the owner, and I'm still learning the Delray market. Any advice on how to have a honest conversation with these long-term out-of-state owners would help.
Welcome Muyees. For long term out of state landlords, a short personal letter usually beats a postcard, because they get a lot of investor mail. Mention the property address and ask a question instead of making an offer. Many tired landlords care more about closing timing and condition than price. How are you reaching them right now, mail or calls?
Thanks Jeremy! I'm reaching them by mail and TruePeopleSearch text right now, but 0 deals closed yet. I'll try personal letter with question vs offer - that makes sense. For Delray 33446 with ARV $600k and $50k rehab, do you usually do 70% of ARV minus rehab, or do you go lower for out-of-state tired landlords? Appreciate your advice.
Glad it helps Muyees. 70% of ARV minus repairs is a common starting point, but treat it as a ceiling, not a target. Leave room for your buyer's profit and your fee, and test it against what cash buyers in Delray are really paying. For out of state owners, a simple fast close often matters more than the last few thousand dollars, so keep the offer easy to say yes to.