Hi all,
I'm looking at buying our first rental unit soon. I am interested in duplexes mainly and an interesting one just popped up in the Atlanta area (where I live). It's listed for $75k and supposedly both units are currently rented out at $650/mo. Of course, I'd verify that and check out the leases before buying but assuming the numbers are correct, this would present a good cash flow.
I was curious if I should be trying to get an agent to help me with this purchase. Is that pretty typical? While I've lived in my home for 13 years and have quite a lot of first hand experience with the joys of home ownership, I wasn't involved in the buying process (DH bought it before we were married) so I'm not too familiar with that. I'm mostly concerned that this will get snatched up quickly but at the same time, don't want to offer list price unnecessarily.
ETA - I have not gotten qualified for a mortgage yet but we have excellent credit so I don't think it'll be an issue. Also, my father-in-law may want to loan us the money himself or from the family partnership if he thinks it's a good investment. I'd love to go that route to avoid a gazillion closing costs but I don't want to rely on that 100%.
Any advice?