The 70% Rule...Does it really hold true in Today's market?
Hello All,
I am a new investor in the DFW market. I am looking for a house to purchase wholesale as we speak to rehab and having trouble doing so. One because I am new to the industry so my contacts are slim and two because the homes that are being sent to me do not come close to meeting the 70% rule. The dallas market is by far a sellers market right now and I just don't know if it is even possible for this rule to be followed right now.
Please any investors (Rehabbers, Flippers) let me know if this will still work in my market or if I am going to need to adjust this a little bit to be competitive right now. If so, how do I need to adjust it, and what are your suggestions? Just to give you an idea of where I am at... I am looking at properties around $250,000 ARV or below and anywhere in Plano, Garland, Wylie, Sachse, Murphy and parts of Dallas.