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.

[Patrick Roberts]

Quote from @Raven Jackson:

@Patrick Roberts yes, I do have disability income from a private company. A few lenders I've spoken with have said to wait for a decision for my permanent disability, then apply because it would increase my income. My concern is waiting on the sidelines when I could possibly qualify with what I have now and get in the game before a decision is even made. My current lease isn't up until April so I have time for renovations and the time it may take with a 203k loan.

This gets a little tricky. For FHA loans, short term disability can only be used if you intend to return to work OR if it will continue for at least the next three years. If you're in the process of receiving permanent disability, it sounds like you wont be returning to work. Waiting may not be optional - you may not be able to use your disability income at all. I would get clarity on this from your lender. If this is the case, you're wasting your time with FHA loans.

I would not be taking on a rehab project in this scenario. Youre layering risk while simultaneously receiving restricted income. Capital outlays + low cashflow can be a recipe for disaster if something goes wrong.