At what percentage of ARV are people buying in Norfolk, Virginia Beach, Hampton, Newport News etc.?
65% minus repairs? 70% minus repairs?
Personally we don't use that formula anymore. We look at flips and rentals differently. Am I correct in assuming you are asking about buying a property to flip? For flipping or wholesaling, we buy based on being able to meet enough profit for the price point to make it worth our while based on the total investment required for purchase, holding, rehab and sale.
That version of valuation is definitely on the flipping/investor end..... I think if you want to stay on the peninsula of Hampton Roads, you'd get a greater yield on the back end in Williamsburg, poquoson, or somewhere in York County 👍