ARV - What Percantage

[Santiago Acevedo]

Hey everyone, I'm a wholesaler in search of my first deal but have been having issues with how to properly run my numbers in this market. I'm located in Fort Worth, TX and searching in all of DFW area. I know the standard formula goes ARV - 70% - Wholesale fee = Buy Price, but I know that most of these offers I throw are well below what some people are asking for on market. Maybe that percentage works better when I find the right motivated seller and it's off market but for on market deals I find myself calling agents and having my offer be the lowest thrown out there. I'm also not putting in a high wholesale fee because I understand on market doesn't tend to have high profit margins, off market is where those margins can be better. My question is what should my percentage be based on my location? or how can I find out these number so I can have a better chance at striking an actual good deal?

Good old Algebra : ARV - x - Wholesale Fee = Purchase Price, What is the value of x?