Family with Great Credit Helping Each Other Get into Homeownership

Philip and Tashieka are parents to four kids (ages 22, 20, 15 and 6). The couple is eager to get into a home of their own before they are priced out of the market. They have decent credit and just need time to build up a bigger down payment. To increase affordability and their chances of getting a home in today’s expensive real estate market, Philip’s uncle Paul, will be participating in the rent to own. With three incomes in the household and a $20,000 initial down payment, this family is well-positioned for a 4-year Rent-to-Own program.

The family has a total household income of $155,860. Tasheika is employed with Sitel as a Customer Service Representative. She works remotely and started in this role in 2020. She earns $36,800 annually. Philip works for Miller Transit Limited as a Transit Operator. He has been with the company since 2004 and earns $62,660 annually. Uncle Paul is a retired TTC Driver. He earns a pension of $48,000 annually. The family also receives $8,400 in child benefits each month.

The family has good credit. Paul needs a little work to bring up his score from 629 to 680. Tasheika has an excellent credit score of 713. Uncle Paul also has an excellent score of 732. The family has less than $20,000 in debt and very good payment history. With a little guidance from the Clover Properties-approved mortgage professionals, this family can be mortgage-ready by 2025.

The family has found a great starter home in Wasaga Beach. The townhouse has 5 bedrooms and 4 baths to accommodate this large family. It is only attached at the garage so the townhouse has good sound-proofing. The property has been well-maintained and features a new master bedroom, ensuite and granite counters. This property is walking distance to the lake, downtown and amenities. Plus it is just a 35 minute drive into Barrie.

Next Steps
If you can qualify for a $484,000 mortgage (based on a 20% down payment), and would like to earn about $1,207+ in monthly cashflow to help Tasheika, Philip and Paul Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $124,000
  • Estimated annual return on investment is 31% (based on a mortgage rate of 2.50 and 30 yr amortization –approximated)
  • Your estimated NET profit $153,425
  • Your NET monthly cash flow is approx. $1,207+ a month
  • Tenant-buyers have $20,000 for the down payment
  • Tenant-buyers has household income of $155,860

click to downloadspreadsheet


About the Property

  • Purchase price is $605,000 (House has been purchased)
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $3,500 monthly
  • Monthly carrying costs $2,200 (or less)
  • Tenant-buyer will buy this house in 2025 for $732,013

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 me for more information or if you have any questions: