So I sold a piece of artwork to a real estate investor about two weeks ago for a coffee shop/ art gallery that will be open in about a month or two. While talking to him about further art pieces being displayed in the future I mentioned that he seemed very young and successful at investing in real estate( I looked at his companies instagram and his personal instagram). I then told him I was interested in real estate but have never gone for it like he has. He then says that he thinks it is awesome that I am interested in real estate and that he has always wanted to invest out of state but never had found someone who could manage his properties full time. So I told him that I would be willing to work for him and work my way up financially to be able to afford to invest in my own property. Fast forward a few hours and we talked again on the phone and he suggests that he put the money down on an FHA loan for a home and the mortgage be in my name because he has I think about 8 or 9 properties already under his name. He also said that instead of his name on the mortgage we could have a lawyer write a contract saying he does have some type of ownership of the property too. I'm just wondering why would someone want to do this and if this is something that is common in the REI world? Thanks for any replies.
