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Currently, real estate prices are far lower than average due to Covid-19. So, what does this mean for people looking to buy property when they are short on cash? Well, there are a few things that you can do to purchase property even when you are broke.

Investing in real estate is one of the biggest investments someone could make throughout their life. It may be a lot easier to purchase property with more cash flow, however, it is still possible to purchase a property when you do not have a lot of income.

Don’t let a bad credit score deteriorate you from feeling like you will never be able to purchase an investment property. Oftentimes real estate investors are willing to overlook a poor credit score for a killer investment property.

Anyone can become an investor when it comes to real estate. Women, men, young, old. It is 2021 and there has been a spike in women real estate investors. Women are just as driven as anyone else and are more than capable of finding a property to turn into a beautiful investment.

Here are a few strategies to help you purchase property even when you are broke. Sometimes, it’s all about thinking outside the box.

Hard Money Loan

Hard money loans often come from private individuals or groups that offer a short-term loan that is backed by real estate. The best part of a hard money loan is the funds can be transferred or given to you far quicker than a loan. Sometimes within days.

Hard money lenders are not interested in lending you money to buy a home, however, but they are interested in lending you money to buy a property that is an investment Whether you have a 600 or 800 credit score lenders will most likely be willing to work with you. Their main concern is the value of the home and if there is money to be made.

The lender uses the property as insurance. If you do not pay back your loan they can take ownership of that property.

How Do I Find Hard Money Lenders?

It can be as simple as a fast Google search for hard money lenders in your area. If you have found a hard money lender it is important to make sure to look for a reference as well. These lenders could be women investors who were in the same situation a few years before looking to help you make your first investment.

Find a Trustworthy Partner

The odds are there is someone you know looking to invest in real estate. Women real estate investors are great to partner with. They are trustworthy, efficient, and hard-working. They also have an eye for spotting an investment property.

When investing with a partner it’s important to partner with someone that has the skills or resources you may not have. This will make you two a great team. For example, if you lack credit but have a great property in mind to invest in this would be a great partnership.

Seller Financing

This is a great way to purchase an investment property when looking to rent it out. Generally, the rent is more than enough to cover the mortgage. This can be done with no money down as well. With seller finances, the seller becomes the bank that you owe a monthly mortgage to.

Benefits of Seller Financing

    • Little or no qualifying terms


    • Low closing costs


    • Poor credit does not matter


    Often flexible terms

Use Your Home Equity

This option is great if you already own a home and are looking to buy another piece of property for investment purposes. You can use your home as a line of credit in this situation. Generally, these have low-interest rates as well. Investing in a home for women is great for starting roots and building an income that does not rely on anyone else.

Lease to Own Your Home

If you rent your home but want to buy it in the future talk to your landlord about the possibility of purchasing it one day. This is perfect for someone who is in the process of rebuilding their credit after a divorce, bankruptcy, or several other situations.

For women investing in real estate after divorce, this is a great place to start. You are not committed to buying the home or property, but you have the choice to if down the line you want to. After all, you can see if the property has the potential to make money as an investment because you will be experiencing it first hand.

The BRRRR Method

The BRRRR method stands for buy, renovate, rent, refinance, repeat. This means purchasing a fixer-upper with the intent to do it again. This is great for women real estate investors who are more experienced with real estate since it is a more risky investment.

This is a good option to buy the property with less money down. For this strategy to be effective the property being purchased needs to be bought at a great low price. With the property being at a lower price the initial down payment will be much lower.

Trade Something in for Cash

Another way to purchase investment properties when you are short on cash is to sell other assets that are not as important to you. This could be land, jewelry, cars, or a boat. You may be able to work with the seller to offer a skilled service you know to lower the price of the property.

Overall, investing in real estate for women is something so empowering that you will hold with you for a lifetime. Even when you are broke keep persevering towards your end goal. Never give up.

Rental properties are a great first place to start for first-time property buyers looking to invest. We hope that these strategies were useful for you if you are looking to buy property even if you feel like you don’t have enough money to.