70% Rule for flip

[Scott Lepore]

Let's say you have a flip that has an ARV of 600k (in Denver that is approximately average house price now). 70% of that is 450k. Probably needs 60k MINIMUM for a nice flip. That means you have to purchase it at 390k. I find VERY few deals where you can have over a 200k spread on a 500k or 600k house. And exactly zero deals like that from wholesalers. Hometrust has never offered such a deal (their rehab estimates are laughably low) I would like to hear what other investors are finding that even comes close to the 70% rule and how you are finding them. Wholesalers? Your own marketing? MLS? Any insights much appreciated.,