What criteria do you provide realtors when looking for a deal?

[Brian Garrett]

I'm currently networking with realtors in my area in hopes of finding a solid deal.

I'm looking for rentals and/or flips in Palm Beach County, Florida.

Here's an example of what I'm planning to send them:

- Single family or 2-4 unit multi-family properties in Palm Beach County
- Should ideally have a way to force immediate appreciation through rehab, value add, etc.
- If rehab is required I must be able to buy below 70% of the fixed up value including my rehab or value add costs
- If it does not require rehab I must be able to buy it at 70% or less of it's current market value
- Rent must equal at least 1% of my total cost (purchase price + rehab)
- B or better areas - no war zones, lower class, section 8, etc.
- Purchase price up to $XXX for all cash deals and $XXX for financed deals

From what I've seen, most agents are not investor savvy and they are not familiar with BRRRR, 70% rule, 1% rule, etc.

Will a typical agent understand my criteria or is this too specific and I need to take a more simple approach?

What criteria are you providing realtors to help them vet deals and understand exactly what you're looking for?

[Brie Schmidt]

@Brian Garrett- The 70% rule and 1% rule are BP rules of thumb, they are not industry terms that people use outside of BP.  As a realtor who works only with investors, I spend a lot of time upfront talking about market expectations.  

If you were in my market and sent me this, I would probably have a short conversation with you and tell you that you need to change your criteria or change your market (I know nothing of Florida so I don't know if what you are asking for is realistic)

You have a better chance of having a pet unicorn than finding a property that doesn't need a rehab for 70% of market value.  

So instead of telling agents what you want, try asking them what to expect in that market within your budget.  Listen to what they are saying about inventory, sub markets, timing ect

You could be totally spinning your wheels by trying to find something that doesn't exist