70% flip formula in NJ with current market??

[D Higgs]

Calling all NJ fix & flip investors! 

Are you using the 70% buy formula for calculating your buy price? My target property & market consists of: 

- B/C class areas in Northern NJ,

- SFR or condo, under 1500 sq ft, 2 bath max

- no major renovations (foundation, plumbing, additions, electrical)

With the current RE market, (ie: low inventory, scarce contractors, etc) I was hoping to learn if current fix & flip investors out there were using a different % to calculate if he/she would even entertain a lead? 

DH