70% Rule In Alexandria, VA

[Ryan McKnight]

I am searching for deals using the 70% Rule to BRRRR a townhouse in Alexandria, VA, but keep running into issues related to decreased inventory and high listing prices. I found one property listed for almost the ARV, but want to provide an offer below the list price. The 70% rule would put my offer at $320,000. The list price is $430,000 and my calculated ARV is $500,000 with the Comp prices at $427,000. Am I better off waiting for the market to cool off or look more toward off-market deals? I appreciate your advice and insight in advance!