Using 88% in the wholesaling formula?

[Patrick Philip]

The guideline wholesaling formula is ARV * .7 - repair cost - $5,000 (wholesaler fee).

Recently, I posted about a house listed at $80,000 with a $125k ARV needing $25k in repairs.

Plugging that in to the formula gives 88% instead of 70%.

Could wholesale houses in my market really be going for 88%? Could this be the reason why I was getting no deals when I offered 70% to all my callers?