Tracked 200 out-of-state owners in one zip - here's what replied

Delray Beach, Florida
General Real Estate Investing
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Tracked 200 out-of-state owners in one zip - here's what replied

Muyees Ayilara
Lender · Boynton Beach, FL · Member since 2026 · 137 posts · 61 votes

I have been focused on one zip code in Delray Beach - 33446 - specifically townhouses in Monarch Lakes and a few around. I pulled 200 owners who have owned 20+ years and live out of state - Michigan, Ohio, New York mainly.

I skipped the big list companies and tried to find real cell numbers, 2022 to 2025 verified wireless only, no landlines. Mailed 40, texted 60, left the rest for now.

Here is what came back in 90 days:

4 people told me they already sold - county site still showed old name - learned to check PAPA first now.

12 said not selling ever - mostly paid off, no headache.

3 said maybe in 6-12 months - I put them on follow up.

1 deal under contract - $242k purchase plus about $60k rehab - ARV around $420k - rent $2100 low end MLS closed lease.

What worked - texting newest wireless number first - Dec 2024 or 2025 if I could find it. Landlines were waste of time.

What did not - emailing their business email - went to staff.

For those who do out of state in one zip - how long do you follow up before you drop them? I am doing 6 months then close file.

Also curious - when you run DSCR do you use current taxes or reassessed to new value? I use reassessed to $600k and low end rent - kills a lot of deals but keeps me safe.

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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
18h

You NEVER “drop them” unless they request out, or have sold the property and own no other of interest. Some of the best deals I ever made were sellers who came back 5, 10 even 20 years after initial contact.

Private Mortgage Financing Partners, LLC
WebsiteView Page
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  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    18h

    You NEVER “drop them” unless they request out, or have sold the property and own no other of interest. Some of the best deals I ever made were sellers who came back 5, 10 even 20 years after initial contact.

    Private Mortgage Financing Partners, LLC
    WebsiteView Page
    2Reply
    • Muyees Ayilara
      OP
      Lender · Boynton Beach, FL · Member since 2026 · 137 posts · 61 votes
      18h

      Thanks Don - that changes my plan. I was going to close file after 6 months but your point on 5, 10, 20 years makes sense. I have 200 in one zip - 33446 - Michigan/Ohio/NY owners 20+ years. 3 said maybe 6-12 months now, I will keep them longer instead of dropping. Appreciate the long game advice.

      0Reply
  • Mayo GilfurtPro Member
    Real Estate Consultant · Connecticut Ct · Member since 2026 · 156 posts · 34 votes
    18h

    Good morning, Muyees,

    Interesting breakdown of your outreach strategy and results. Congratulations on getting a property under contract.

    Regarding your DSCR question, I agree that accounting for potential property tax reassessments is important when evaluating a transaction.

    Many DSCR lenders evaluate projected property taxes based on their underwriting guidelines rather than relying solely on the seller's current tax assessment.

    Taking a conservative approach can help identify potential cash-flow issues before moving too far into the financing process.

    Appreciate you sharing your experience and results.

    Best regards,
    Mayo Gilfurt

    1Reply
    • Muyees Ayilara
      OP
      Lender · Boynton Beach, FL · Member since 2026 · 137 posts · 61 votes
      17h

      Morning Mayo - thanks for confirming on DSCR. I'm doing reassessed to $600k not current tax - kills deals but keeps me safe. Good to know lenders also use projected not seller's current. My deal $242k + $60k rehab to $420k ARV at $2100 rent only works if I use low end reassessed - tight but real.

      0Reply
    • Mayo GilfurtPro Member
      Real Estate Consultant · Connecticut Ct · Member since 2026 · 156 posts · 34 votes
      17h

      Absolutely, Muyees.

      I agree with your approach. Using a reasonable projected tax assessment rather than relying solely on the seller's current tax bill provides a more conservative picture of the property's potential cash flow.

      With a $242K acquisition, $60K renovation budget, and projected $2,100 monthly rent, I can see why you're carefully evaluating the numbers.

      Ultimately, the lender's DSCR calculation, projected operating expenses, and financing structure will determine whether the transaction meets underwriting requirements.

      I appreciate the discussion. It's always good connecting with professionals who take the numbers seriously.

      Best regards,
      Mayo Gilfurt
      Gilfurt Capital

      0Reply
  • Dan Worth
    Pittsburgh, Allegheny County · Member since 2026 · 57 posts · 19 votes
    13h

    Six months feels short for owners who've held 20+ years. A lot of the "maybe in 6-12 months" people only move after a life event, so I'd keep them on a light touch, about once a quarter, for 18-24 months instead of closing the file. I'd even check in once a year with the "never selling" group, since paid-off owners often change their mind when a tenant leaves or a big repair hits. On DSCR, reassessed taxes is the right call in Florida, because the assessment caps reset on sale and the current bill on a long-time owner tells you almost nothing about what a buyer will pay.

    0Reply
  • David Krulac
    Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    11h

    @Muyees Ayilara I agree with @Don Konipol never. I bought 117 properties in one development from 116 different owners. One lucky seller sold me 2. I wrote letter to everyone, who lived out of county, out of state, even out of country. sent letters to Canada and Philippines, bought a property from a Canadian but didn't from the Philippines. I sent letters to everybody who own the property over 20 years and every non-owner occupant. I wrote to every property that was identified as being an estate of xxxx or heirs of xxxxx. One time somebody called me and said, "We were going through our Mother's papers and saw your letter from 5 years ago, Are you still interested in buying her property?" Of course I said yes. The first time that happened off a 5 year old letter I was surprised, but later it happened several other times. I know letters are old school, but letters get saved while email and phone calls or voice mails never get saved for 5 years. Just saying.

    1Reply
    • Don KonipolBusiness Member
      Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
      10h

      Absolutely! Great sharing experience.

      Private Mortgage Financing Partners, LLC
      WebsiteView Page
      0Reply
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