Determining max offer in more expensive areas

[Jason White]

Hey all,

Looking to get involved in some real estate investments in Fairfield County CT and I have a question on determining max offer in areas with higher home values...

Does the 60-70% of arv minus repair costs rule still apply in areas where the median home value is say 400k or greater?

Let's say 500k arv house - 50k repair costs. 70% of this would have you offer max of 300k for a 150k profit.

How are you other investors handling situations like this? Is anyone adjusting the percentages or setting some sort of cap for expected profits to keep your offers more competitive?