70% rule for wholesaling to determine value?
I've been doing some reading and would like to clarify some things before I move ahead. I understand that you need to check out comps in order to get your ARV. But what do you do when determining the value for an as-is condition? As far as wholesalers go, do you guys use the 70% rule to determine if a property is a good deal? Or do you again look for comps and then somehow use a formula to subtract the estimated repair cost to factor in the as-is condition?