Cold Lake, Alberta Rent-to-Own Opportunity

About Cold Lake, Albert

Cold Lake, a city in Lakeland, Alberta boasts a growing population, with the most recent municipal census revealing over 15,000 residents. The housing market reflects this growth with various housing and development projects catering to the expanding community. The city’s transport infrastructure, including a regional airport, supports the mobility of residents and businesses, enhancing its appeal as a residential and investment destination. Key employers like the Canadian Forces Base Cold Lake and energy sector firms anchor the economy, driving Cold Lake’s development forward.

About the tenant-buyers:

Meet JP and Collette, a mature couple ready to settle into their own home now that their kids have grown and are contributing to the household.  They have stable-high paying jobs and saved $20,000 for a down payment. They need a four-year term to improve their credit, which was affected by the pandemic.

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Income

JP and Collette have a combined annual income of $268,000, showing excellent financial health and job stability. JP has been a General Manager at Lakeland Petroleum Services Co-Operative since 2019, a local business in Cold Lake. JP is earning $185,000 a year. Collette, a Registered Nurse at Bayshore Medical Personnel since 2021. She is stationed at the Canadian Air Force base in Cold Lake and brings in $83,000 annually. Their careers provide reliable and substantial incomes, ideal for managing a home financially.

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Credit

Fortunately, the couple carries little debt and have no history of bankruptcies or collections. Collette maintains a strong credit score of 710. However, JP’s credit score dipped to 561 due to some late payments during COVID  but he is committed to improving his score during the 4-year rent-to-own term and aiming for mortgage-readiness by 2028.

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Property

The couple is interested in a fully renovated home in Cold Lake, Alberta, which has been meticulously updated inside and out. Features include new siding, windows, and a high-efficiency furnace, plus a modern kitchen and a finished basement that adds an extra bedroom and bathroom for their oldest. The property offers both quality and comfort in a lovely community.

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Next Steps

This is a prime opportunity to invest in a financially stable and committed couple. If you can secure a mortgage of $295,200 and wish to earn consistent monthly cash flow of approximately $639, click the green button now to grab this deal.

Have a Cash Downpayment? Here are the deal highlights:

Term: 4 years

Purchase Price:  $369,000

Estimated Investment Required: $70,500

Estimate ROI: 27% (based on fixed 5.99% and a 4-year deal)

Estimate Returns: $74,877

TB Down Payment: $20,000


Rent-to-Own Monthly Payment: $3,076

Monthly Cash Flow: $639

Future Purchase Price: $444,039 (after four-years)

Using Line of Credit for Downpayment? Here are the deal highlights:

Term: 4 years

Purchase Price:  $369,000

Estimated Investment Required: $70,500

Estimate ROI: 19% (based on fixed 5.99% and a 4-year deal using a HELOC of 7.25%)

Estimate Returns: $53,925

TB Down Payment: $20,000


Rent-to-Own Monthly Payment: $3,076

Monthly Cash Flow: $216

Future Purchase Price: $444,039 (after four-years)