Need some advice re involving real estate agent in deal
I have found a property I am interested in purchasing. It is agent owned and is a SFR with a tenant in place. Based on the numbers I'm using, it should cash flow immediately. If it matters, this will be my first investment property. My questions:
1. Should I involved a real estate agent of my own and why?
2. What is the downside of not invovling an agent?
Some initial thoughts I had are:
An agent could help familiarize me with the going rental rates in the area as well as past and future appreciation. I'm being told the current rental rates are below market and, based upon my investigation so far, that appears to be correct. While I'm somewhat familiar with the area, I live in a relatively large metropolitan area and this isn't my usual stomping ground.
An agent may know of future development/zoning/etc. issues of which I'm unaware.
If I get an agent inolved, that will take money out of the pocket of the seller, which may not allow me to get as much of a reduction off the asking price, true?
I know there have been several posts re real estate agents and I'm not looking for a big, heated debate, just the board's thoughts on the pros and cons. Thanks in advance for the replies.