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Updated almost 5 years ago on . Most recent reply

Terry Harris's profile image
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Terry Harris
  • Rental Property Investor
  • from Wilmington, DE
  • Member since Mar 11, 2020
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Terry Harris's profile image
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Terry Harris
  • Rental Property Investor
  • from Wilmington, DE
  • Member since Mar 11, 2020
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Terry Harris
  • Rental Property Investor
  • Wilmington, DE
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Rehabbing & House Flipping

Home flipping in Chicago

Terry Harris
  • Rental Property Investor
  • Wilmington, DE
Posted

Would you use the 70% rule as a guideline for a state like Chicago (downtown) A area. Or would the percentage be a bit higher.

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Crystal Smith
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Crystal Smith
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied
Originally posted by @Terry Harris:

Would you use the 70% rule as a guideline for a state like Chicago (downtown) A area. Or would the percentage be a bit higher.

You should establish a guideline based on your own Minimum Acceptable Return on Investment & the cash you have available.  You'll find many properties where the 70% rule doesn't work but the profit margin may still work for you.

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