Young Couple Looking for Stability

Casey and Kendall are a young married couple with two smaller children (ages 8 and 5). They have been renting since getting married and are tired of dealing with landlords that don’t live up to their promises and want to start working on getting in to their own home. The couple want more stability for their family and would like to start working on building some equity for their future. The couple of save $20,000 towards the down payment.

Through our rent-to-own program, they will have time to repair their credit and build up a bigger down payment to be mortgage-ready in 2025.

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Employment
Combined, the couple have an annual household income of $109,000. Casey is employed full-time with AGF Rebar as a Subforeman. Casey has been with AGF Rebar since 2014 and earns $67,000 annually. Kendall works for Municipal Traffic Services Inc. She holds the title of Technician and has been employed with the company since 2020. She earns an annual income of $42,000.

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Credit
Casey needs a little time to rebuild his credit after disputing a charge on his credit that went to collections. He is working to negotiate a payment plan so that he can start rebuilding. The debt Is $2500. Kendall has very good credit but needs Casey to improve his credit so they can purchase this house together after four years. The couple have to smaller car loans that will be paid down over the term and should be in very good standing at the of the 4-years. The couple is mature and motivated to work with a Clover Properties-approved mortgage broker to be mortgage-ready in four years.

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Property
They have found a great property in Dundalk, Ontario. Dundalk is a growing community outside of Shelburne. This property has been very well maintained and opens up to a large, mature lot and insulated garage/workshop. This property has 3-beds and 1 bath and is located on a very family-friendly street near schools, parks and amenities.

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Next Steps
If you can qualify for a $392,000 mortgage (based on a 20% down payment), and would like to earn about $938+ in monthly cashflow to help Casey and Kendall Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $98,775
  • Estimated annual return on investment is 30% (based on a mortgage rate of 3.00 and 30 yr amortization –approximated)
  • Your estimated NET profit $116,618
  • Your NET monthly cash flow is approx. $938+ a month
  • Tenant-buyers have $20,000 for the down payment
  • Tenant-buyers has household income of $109,000

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About the Property

  • Purchase price is $490,000
  • Term: 4 years
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $2,920 monthly
  • Monthly carrying costs $1,975 (or less)
  • Tenant-buyer will buy this house in 2025 for $587,812
  • 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 $20,000 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