Neighbor is selling several of his duplex rentals.
My neighbor is selling two of his duplex rentals. I am brand new to real estate and don't own a thing except the house I'm living in with a mortgage. I would love to start someone and wondering if there is a way I can talk to my neighbor and work with him someway to make money off his rentals. He is selling them for market value so they aren't a good deal for me to buy them. How should I approach him and what deal should I offer him. I don't know if he has a property manager he uses already. I don't know the right questions to ask so hopefully some of you can help me. Do I ask to property manage them and split the earnings? How would we pay for maintenance, taxes. Do I try to see if he will hold the loan for me and start paying him to avoid banks? How do I get involved and make money with these without putting any of my own money into them?
Thanks for all your help. I am looking forward to start getting into real estate.