Family Sticking Together to Create Stability

Charmaine (mom), Nikkita (daughter) and Aunt Lois will be doing this RTO together. Combined, their annual household income is $218,709. They have 35k down payment.

Both Lois and Charmaine are registered nurses. Lois earns two incomes totaling approx. $139,779. She works part-time at Saint Elizabeth earning $52,692 and VHA Healthcare earning $87,088 annually. Charmaine currently works in social services earning approx. $45,780 annually. Her daughter Nikkita also works in Healthcare, for a company called Closing the Gap. She is in an administrative role earning approx. $33,150 a year.

They were all previously homeowners and recently sold their home in Cambridge. Due to credit, they couldn’t qualify for a mortgage with today’s stricter rules. Charmaine has a score of 547, Nikkita is at 665 and Lois is at 547.

Lois had a break-up/split with her husband. While they were fighting over matrimonial debt, she fall behind on her credit. Charmaine has some collections items to pay off. They are working with a Clover Properties-approved mortgage broker who has laid out what they need to do to fix their credit and will be guiding them to get mortgage-ready by 2025. In case the ladies are ahead of schedule to repair their credit, the contracts will include a 3-year buy out option.
This house has it all for the family. Well-maintained, clean and very welcoming. Completely renovated from top to bottom with amazing finishes. Has 3-bedrooms and 1 bath (they are discussing putting a bathroom in the basement), hardwood throughout and sits on the largest lot on the block. Amazing and safe area of town close to town amenities, schools, transit, parks and shopping. Centrally located to Waterloo and Kitchener and close to the highway for quick access.

Next Steps
If you can qualify for a $564,000 mortgage (based on a 20% down payment), and would like to earn about $1,057+ in monthly cashflow to help this close-knit family Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $130,975
  • Estimated annual return on investment is 34% (based on a mortgage rate of 3.00 and 30 yr amortization –approximated)
  • Your estimated NET profit $176,733
  • Your NET monthly cash flow is approx. $1,057+ a month
  • Tenant-buyers have $35,000 for the down payment
  • Tenant-buyers has household income of $218,709

click to downloadspreadsheet


About the Property

  • Target Purchase price is $705,000 (house is conditionally purchased)
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $3,880 monthly
  • Monthly carrying costs $2,825 (or less)
  • Tenant-buyer will buy this house in 2025 for $850,180

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 $35,000 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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