Entrepreneur Couple Seeking Homeownership

Valdemiro and Mindy are a married couple with three children, ages 13, 11 and 6. The couple have been in the cleaning business for years working full-time for ICS Rethink Facility Services. They spun off of that with their own cleaning company in May 2020 looking to capitalize on the new cleaning requirements that corporations were demanding and have been working hard to build up their clientele. They even do some sub-contracting work for ICS. After renting for many years, the couple feels that now is the time to get into homeownership as their business is growing. They have saved up $30,000 for a down payment and will need to rent-to-own for four years to be mortgage-ready by 2025.

Combined, this family earns $148,120 annually. The couple own and operate VMB Cleaning Services. They have been in business since May 2020 and earn $110,000 right now with current corporate contracts. Mindy also still works part-time with ICS Rethink Facilty Services and earns $20,000 annually as a Cleaning Supervisor. The couple also receive child benefits in the amount of $18,120 annually.

Valdemiro has a credit score of 520. Mindy has a score of 525. The couple ran into credit issues in 2018 when the company they worked for when out of business. They have since started cleaning their credit and will need 4-years to get mortgage ready. They will be working with a Clover-approved mortgage broker to improve their credit and get their file mortgage ready.

The couple found a great house in Barrie, Ontario. This 4-bedroom, 2-bathroom property has been well-maintained and has had extensive renovations including a brand-new kitchen, finished basement with separate entrance and a large private backyard. This property is centrally located, a short drive from downtown Barrie and quick access to HWY 400/HWY 90 and 15 minutes to the GO. Barrie is one of the hottest real estate markets in Ontario.

Next Steps
If you can qualify for a $560,000 mortgage (based on a 20% down payment), and would like to earn about $1,197+ in monthly cashflow to help Valdemiro and Mindy Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $135,100
  • Estimated annual return on investment is 32% (based on a mortgage rate of 2.50 and 30 yr amortization –approximated)
  • Your estimated NET profit $174,288
  • Your NET monthly cash flow is approx. $1,197+ a month
  • Tenant-buyers have $30,000 for the down payment
  • Tenant-buyers has household income of $148,120

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About the Property

  • Purchase price is $700,000 (estimate purchase price but will start with list price on offer)
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $3,881 monthly
  • Monthly carrying costs $2,685 (or less)
  • Tenant-buyer will buy this house in 2025 for $841,172

Next Steps

  • Yes, I want to proceed with this opportunity
  • Meet realtor and sign conditional offer
  • Confirm your financing
  • Review inspection report
  • Review contracts
  • Go firm on the deal
  • Tenant-buyer’s $30,000 down will be used as the deposit on the property with accepted offer
Rachel and Neil Oliver
Rachel and Neil OliverCo-Founders, Managing Partners
Need a Mortgage Partner for Your Next RTO?
If you’re craving cashflow but have only cash to invest, let’s explore a Joint Venture.
Contact rachel@rethinkrentals.com

Contact me for more information or if you have any questions: rachel@rethinkrentals.com