First Lead, options
Alright BPers, what would you do with this lead?
I started a Facebook campaign just last night and got a phone call about a property in an area where we are looking at doing rehabs. The owner is living there currently and is ready to move as soon as possible, for whatever reason. The owner told me that the house needed a bit of work including one of the bathrooms that he started to repair but stopped because he did not want to take on the task to repair the house anymore.
He owes "Somewhere over $60,000" and from looking at local listings and recently sold homes on zillow, I'd say the top price on a nice rehab is $90-95k, if that. Assuming rehab costs around $20k, I'm pretty confident that it's not gonna work for a flip.
I'm going to shoot it to my realtor to get some solid comps but in the meantime, looking to get some opinions. I scheduled a walkthrough with the owner a few days from now but I don't want to waste his time. If my numbers are right, do I cancel the walkthrough and just tell him it won't work or do I go take a look and decide to push the lead to someone else? It seems like the only person to send him to would be my realtor to list the house or go the short sell route if he is in financial trouble. Thoughts?