Delhi Rent-to-Own Opportunity

About Delhi, ON:

Delhi is a town that’s located in Norfolk County.   With a population increase of 9% between 2016 and 2021 for a total population of 5,344.  The population growth is underpinned by location and affordability compared to those centres closer to Toronto.  Delhi is located one hour outside of Hamilton and just 40 minutes from Brantford making for an easy commute into either City.

About the tenant-buyers:

Meet Mable and Robert, a married couple who currently own their own home in Delhi, Ontario and need help to regain their financial footing. The couple faced a challenging period when Robert was severely injured in a car accident and was unable to work for a year. This unexpected set back put this family in a tough financial position, forcing them to take out a private mortgage to make ends meet. Thankfully Robert has recovered and is ready to return to work and their 26-year-old son, Keagan is able to contribute to the household. Robert and Mable are seeking an opportunity to exit the private mortgage and Rent-to-Own their home so they can qualify for a more affordable bank mortgage in 2027. The family loves their home and will invest $50,000 of their equity towards their Rent-to-Own down payment

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Income

The family collectively brings in a decent annual income of $125,827. Mable is a skilled Welder employed full-time since 2023 at Toyotetsu Canada, a large manufacture of auto parts. She is earning $49,712 annually. In addition, Mable receives a pension of $7,475. Their son Keagan has been working full-time as Forman at East Elgin Concrete Forming Limited. He has been with the company since 2020, earning $68,640 per year. Robert, who is on the cusp of rejoining the workforce, will be contributing a full-time income within the next year. Further strengthening the family’s financial standing. By the end of the Rent-to-Own term, Robert will have significant job history and will be part of the mortgage application, ensuring a smooth exit.

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Credit

Mable and Keagan have challenged credit and a few small collection items to settle. These will be paid off using the proceeds from the sale as part of the Rent-to-Own commitment. This proactive approach ensures the family is able to manage their monthly financial commitments from day one.

In addition, a customized credit improvement plan is in place for this family. They will work closely with a credit expert and mortgage team to ensure they are meeting milestones in preparation to purchase their home in four-years.

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Property

This spacious property features four bedrooms and two bathrooms, making it perfect for this family. Located in-town, the home is close to all amenities including schools, parks, and transit routes.

In recent years Mable and Robert have made updates that enhanced the property’s appeal and value. The updates include new windows to improve energy efficiency and curb appeal, a new garage for additional storage and a new deck. The hydro panel for both the house and garage have been updated to meet safety standards. The basement has been partially finished to provide extra living space for Keagan, adding to the home’s versatility. Additionally, Robert, a professional roofer, is installing a new steel roof on the house and garage, ensuring long-term durability and value.

Mable, Robert and Keagan love their home in Delhi. It is a quiet community conveniently located between Brantford (40 minutes) and Hamilton (60 minutes), with easy access to the highway into Toronto. The combination of the location and their investment in updating the interior and exterior ensures this home will continue to appreciate in value, while helping this family make a fresh start.

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Next Steps

This Rent-to-Own deal means more than just profits, you’re also investing with the purpose to helping a family rebound from a financial setback and secure their financial future. If you’re able to qualify for a mortgage of $360,000  you can enjoy monthly cashflow of approximately $616 for 4 years. Click the green button to snag this deal.

 

 

Deal Summary:

Term: 4 years

Purchase Price:  $450,000 (appraisal will be required)

Estimated Investment Required: $64,200

Estimate ROI: 39% (based on 5.99% and a 4-year deal)

Estimate Returns: $99,956

TB Down Payment: $50,000

Numbers Summary:

Monthly Payment: $3,422

Condo Fee: $0 (tenants will pay this)

Monthly Cash Flow: $616

Future Purchase Price: $546,822 (after four-years)