How to Turn Your Home Into an Income-Generating Asset

By Mark Callender

Hello, my name is Mark Callender and I am a licensed real estate agent with RE/MAX Results. Because I have been helping families buy and sell their homes for more than 18 years, I am now helping their children to buy their first homes and their parents to downsize. No matter the direction you’re moving, my goal is to make the process as calm and enjoyable as it can be.

How can you live for less while building wealth through real estate? If you’re tired of paying high rent and want to start building wealth, real estate may hold the key to both. By using smart investment strategies, you can reduce your living expenses and even make money from your home.

I recently sat down with Molly Nadeau from Neighborhood Loans to discuss how you can use multifamily properties to live for less and start growing your wealth, even while you’re living in your own home.

Live for less with real estate investments. You can live for less, or even for free, by investing in a multifamily home and using the owner-occupied investment strategy. Live in one unit and rent out the others. The collected rent can cover your living costs, helping you reduce housing expenses, build equity, and potentially profit as the property’s value increases.

Here’s how it can play out:

● If you buy a duplex and live in one unit, the rent from the other unit can significantly reduce your monthly payment. You live for less.

● If you buy a triplex, the rent from two units may cover most or all of your mortgage. You could potentially live for free.

● If you buy a fourplex, the combined rent from three units may exceed your housing costs. In some cases, you could live for profit while the property builds equity.

Living in one unit for at least 12 months establishes it as your primary residence, making you eligible for specific financing options. This strategy turns your living space into an income-generating asset that helps you build wealth and achieve financial freedom.

How to start building wealth with your home. This approach is often called “house hacking,” but at its core, it’s simply using real estate strategically. Buy a property, rent out units so tenants cover the mortgage, and let the property value increase.

Reinvesting rental income into new properties builds equity, creates passive income, and leads to financial independence.

Ready to live for less and start building wealth through real estate? Let me help you get started! Contact me at 612-961-9448 or email Mark@MarkCallenderHomes.com for a free consultation, or visit my website to learn more and explore your options today.