Disabled First Time Homebuyer

[Raven Jackson]

Hi everyone,

I’m reaching out because I’m at a pivotal point in my life and looking for advice from those who’ve been through major life transitions and successfully built real estate portfolios.

I’m a registered nurse by trade, but after an injury and becoming temporarily (possibly permanently) disabled, my work and income situation have changed significantly. I have some savings, a strong credit score, and a genuine motivation to improve my long-term financial stability.

My initial thought is to start small and house hack a duplex. I've been researching FHA 203(k) loans and other financing options.

My concerns:

I want to use my savings strategically without depleting my safety net.

I want to avoid high-risk moves while I’m in this new chapter.

Questions I’d love input on:

1. Given my situation, would you recommend starting with a house hack or another strategy?

2. Any tips on financing when you want to minimize your cash outlay but still get into a solid property?

3. Common pitfalls for someone in my position entering the market for the first time?

I’ve been reading threads here and listening to the BiggerPockets podcasts, but I’d really value first-hand advice tailored to my circumstances.

I’d like to connect with investors who’ve navigated a career change, disability, or other major life shifts and still built successful portfolios.
Thanks in advance for your time and insight.

[Drago Stanimirovic]

Raven, your mindset and strategy are spot-on, and house hacking a duplex with an FHA 203(k) is one of the smartest low-risk ways to build equity and cash flow, especially with strong credit and limited income flexibility.

1. Yes, house hacking is ideal. It minimizes your housing cost, builds equity, and gives you landlord experience without taking on a separate property.

2. FHA loans (including 203(k)) are great because of the low down payment (3.5%) and rehab financing. Also look into state-level grants or first-time buyer incentives in NJ that can help cover closing costs or down payment.

3. Biggest pitfall: underestimating rehab timelines or tenant management. Keep your first deal manageable, light rehab, strong rental comps, and in a neighborhood you understand. Also, protect your reserves and don’t force a deal just to buy something fast.

You’re absolutely not alone in navigating life transitions through real estate. Many have turned these moments into the foundation for long-term financial freedom. Good luck!