How to Buy a Million Dollar Property Without $1 Million Dollars – Ryan Young

How to Buy a Million Dollar Property Without $1 Million Dollars


The beauty about real estate investing is that you can obtain a high value item for only a fraction of its cost and you don’t have to personally pay for it going forward. In other words, you can buy a $1 million or more multifamily property for little to no money out of your pocket and then your tenants will be paying down the loan each month for you.

There are many ways that you can accomplish this with real estate. You can truly amass wealth quickly and securely with real estate. You simply have to know about money to do so.  

  1. You can save and invest. You would utilize your personal savings for the 25% down payment that most banks require to buy a multifamily property. For example, for you to purchase a $1 million dollar property, you would need to have $250,000 to use as the down payment.
  1. You can obtain seller financing. This is where the seller of the property you would like to purchase will hold the mortgage for the sales price for a specific amount of time. It is usually short term and require little to nothing as a down payment. This would allow you to make needed improvements to the property which would increase its value and refinance the property to pay off the mortgage holder. These transactions are rare.
  1. Recruit Family and Friends. You can gather the down payment by sourcing all or part of it from family and friends. You can give them ownership in it or use their money as a loan and pay them back with interest once you refinance the property down the road.
  1. You can form a syndication. This is when you source the funds from other real estate investors and collect a monthly fee for managing it along with a percentage of the profit once the property is sold, usually on a predetermined date. This is not for a novice to begin with since you need to know what you are doing.
  1. You can form an investment group. This will allow you to solicit funds to use to purchase larger properties with outside investors money. You will then take a portion of the equity for yourself and sometimes get a smaller fee to manage the investment. This requires a lot of skill and experience and may require regulatory filings. This is not for a novice and no one will give money to someone that doesn’t have a proven track record in real estate investing.

I cover all you need to know in about financing and more in order to be a great real estate investor in my book. After reading it, I know you will feel confident in your search for amazing wealth creating properties.