Entrepreneurs Want to Stop Renting and Set Roots

Maria and Carlos who and operate their own business.  They have been in business for three years and have firmly entrenched their meat company in the community as they have seen the demand for their product increase year over year.  The couple of grown kids and now that their business has taken off, want to set down roots and move out of renting where they are currently paying over $3000 a month.   Maria and Carlos have good credit and a great down payment of $50,000.

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Employment

Both Maria and Carlos work in the family business.  Carlos is the CEO and Maria is Treasurer.  They have been taking a salary of $75,000 each but will be increasing that to $95,000 each to qualify for their own mortgage in two years.

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Credit

Maria and Carlos both have good credit.  Maria has a score of 744.  Carlos has a score of 824.  The couple does not have very much debt and should be able to qualify for their own mortgage in two years.  They will be working with a Clover approved mortgage broker to secure their mortgage.

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Property

The couple found a great home in Georgina.  Steps from Cooks Bay, this 3-bedroom, 3-bathroom property is very well maintained in a desirable area.  There is lots to love about this property including a private backyard with pool, and a spacious sun-filled main floor.  The house has newer windows (2016), a new roof (2022) and is close to all amenities.  The 404 is just 5 minutes away with great access to the highway.

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Next Steps

If you are able to qualify for a $704,000 mortgage and want to enjoy a 50k down payment on a two-year term to help Maria and Carlos create stability for their family, please click the button below to indicate your interest.

Investment Property Highlights

  • Your investment is $156,800
  • Estimated annual return on investment is 26% (based on a mortgage rate of 5.94 and 30 yr amortization –approximated)
  • Your estimated NET profit $81,137
  • Your NET monthly cash flow is approx. $1,197+ a month
  • Tenant-buyers have $50,000 for the down payment
  • Tenant-buyers have a household income of $190,000

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Investment Property Highlights

  • Purchase price is $880,000 (estimated purchase price))
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $5,850 monthly
  • Tenant-buyer will buy this house in 2024 for $971,353