High Income Earning Couple Relocating to Peterborough for Employment

Jamie and Esther are no strangers to homeownership. The owned a house in Ottawa. They sold it when Jamie was transferred to work in Peterborough. Eager to set down roots and create stability for their two teenagers (ages 15 and 19), the couple applied for a mortgage. Even though the couple has $96,000 for a down payment, due to tighter lending rules, the banks turned Jamie and Esther away. The couple will rent-to-own for two years to become mortgage-ready for 2023.


Combined, the couple earns $158,000 annually and work in essential services. Jamie is a Senior Manager at BWXT Nuclear Energy in Peterborough. He has been with the company since 1999. He earns $113,000 a year. Esther has just started new employment in Peterborough as a Dietary Aide at Extendicare Nursing Home. She is earning $45,000 annually in this role.


Jamie has a score of 610. He has a little debt that he will pay down by selling their Ottawa house. Esther has a score of 680. She is not carrying very much debt, but needs to establish job history. A Clover Properties-approved mortgage professional will be working with this couple so they will receive the guidance they need to get mortgage-ready.


The family found a great home in Peterborough, Ontario, which is in close proximity to both Jamie’s and Esther’s place of work. The property is well-maintained and located in the highly-sought after area of West End. The house has 4+2 bedrooms and 4-baths. This home was custom built in 2013 and features a beautiful open concept main floor which includes maple kitchen with granite counters and a walk out to a beautiful fenced in yard. Located 10 minutes from downtown and 15 minutes from 7/115, shopping, schools, parks and other amenities are easily accessible.

Next Steps

If you can qualify for a $772,000 mortgage (based on a 20% down payment), and would like to earn about $1,733+ in monthly cashflow to help Jamie and Esther rent-to-own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $130,400
  • Estimated annual return on investment is 36% (based on a mortgage rate of 2.50 and 30 yr amortization –approximated)
  • Your estimated NET profit $94,318
  • Your NET monthly cash flow is approx. $1,733+ a month
  • Tenant-buyers have $96,000 for the down payment
  • Tenant-buyers has household income of $158,000

click to downloadspreadsheet


About the Property

  • Purchase price is $965,000 (estimated worse case purchase price))
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $5,450 monthly
  • Tenant-buyer will buy this house in 2023 for $1,057,842

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 $96,000 down will be by letter of redirection
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