Flipping/Wholesaling in SoCal - Orange County, Riverside County

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Hello BiggerPockets Family! I'm a new investor in the SoCal area and have a quick question. When looking to find properties to flip/wholesale, is 70% of ARV (minus repairs) the right percentage I should be targeting, or should I be targeting a higher percentage given how competitive the buyers market is around here? Ive invested in Chicago using 70% of ARV figure which was quite accurate, but SoCal is a different beast. Thanks!