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Updated over 11 years ago, 08/17/2013

Matt Van Dyk's profile image
Matt Van Dyk's profile image
Matt Van Dyk
  • from Goleta, California
  • Member since Aug 15, 2013
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Matt Van Dyk's profile image
Matt Van Dyk's profile image
Matt Van Dyk
  • from Goleta, California
  • Member since Aug 15, 2013
Connect
Matt Van Dyk
  • Goleta, CA
0
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2
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Buying & Selling Real Estate

Should the 70% rule be used in all areas?

Matt Van Dyk
  • Goleta, CA
Posted

Hi All,

This is my first post as I am new to this site. I'm not sure if this question has already been asked, but I live in Southern California where the median home price is $750,000.00. It seems that to purchase a home, after rehab costs, for 70% of the FMV, is unrealistic, even if I do the repairs myself, as I am a general contractor. Should the 70% rule be used in high end areas?

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