Max offer price for a buy and HOLD income property

[Matt Munn]

Hi BP! This is my first post, and I'm really excited to get some feedback from some more experienced investors here. My question is as follows...when considering the purchase of a fixer-upper property to fix, hold, and rent, what would be a wise max offer price in order for it to be a "deal". 

I was thinking of using the basic formula of 70% of the market value (based on comps) minus the estimated repairs.  Is that too extreme? Would 85% or 90% of the market value minus repairs work as well considering my intention is to hold and not to flip? Or would that be foolish?

Thanks!

Matt

[Paul Gilo]

figure out your goal and the results you would be happy with and crunch the numbers. 

there are far too many factors for anyone to give you a flat %