Previous Homeowners Motivated to Start Building Equity Again

Joanie and Adam are a married couple with four kids – three are grown up. Their fourth is blessing! Shortly after giving birth, Joanie got sick. Adam took time off work and managed to keep the family afloat on a reduced income to give Joanie time to recover. However, the couple knew it was just a matter of time before their debt became unmanageable. At the time, the couple owned a home. Four years ago they made the responsible decision to sell the house to pay off debts. Now that Joanie has fully recovered and three of their kids have left the nest, the couple is ready to make a fresh start and get back into homeownership. They have saved up $40,000 for a 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.

Combined, Joanie and Adam earn $185,000 yearly and have stable income. Joanie works for LendCare as a Collections Manager. She has been with the company since 2016 and earned $125,000 in 2020. In 2017, Adam took initiative and started his own contracting business. He owns and operates a renovations company, Onesto Renovations Inc. He reports $60,000 annually as personal income.

Joanie has very good credit. Her score is in the high 600’s and she is carrying less the $10,000 in debt. Adam took a hit when Joanie got sick. Although Adam is not carrying any debt, needs time to build up his credit again. This mature couple is eager to have stability again and are motivated to work with a Clover Properties-approved mortgage broker to be mortgage-ready in four-years.

The couple found a beautiful bungalow in a waterside community of Little Britain in the City of Kawartha Lakes. The property is on a private lot with hot tub and inground pool. The home boasts 3+2 bedrooms and 2 baths. It is a very well-maintained and cared for with many new replacements such as pool lines, soffits, eavestroughs and the back portion of the roof have been replaced in the last few years. Little Britain is 50 minutes from Pickering where Joanie works and just 15 minutes outside of Lindsay. City of Kawartha Lakes has a population of almost 75,000 people and includes such areas as Lindsay, Little Britain, Bobcaygeon, Fenelon Falls and others. This property is in the middle of Hwy 7, 35 and 12 so plenty of access back towards the 407 and 401.

Next Steps
If you can qualify for a $639,200 mortgage (based on a 20% down payment), and would like to earn about $1,395+ in monthly cashflow to help Joanie and Adam Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $146,300
  • Estimated annual return on investment is 33% (based on a mortgage rate of 3.00 and 30 yr amortization –approximated)
  • Your estimated NET profit $191,021
  • Your NET monthly cash flow is approx. $1,395+ a month
  • Tenant-buyers have $40,000 for the down payment
  • Tenant-buyers has household income of $185,000

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About the Property

  • Purchase price is $799,000
  • Term: 4 years
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $4,600 monthly
  • Monthly carrying costs $3,205 (or less)
  • Tenant-buyer will buy this house in 2025 for $950,138

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 $40,000 down will be used as the deposit on the property with accepted offer
Rachel and Neil Oliver
Rachel and Neil OliverCo-Founders, Managing Partners
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