Grey Bruce Rent-to-Own Opportunity

About the tenant-buyers:

Alicia and Nick are a young, blended family looking to give their kids more stability. Combined, they have three kids – Alicia’s 5 and 7 year old will live in the home full time, while Nick’s 4-year old will live with them on weekends. They have been sitting on the sidelines since COVID, renting. Now that their rental term is ending, they feel ready to start putting their money towards a place that they can call their own in four-years. The couple saved up $15,000 for a down payment and found an affordable starter home in Grey Bruce County.

 ———————————-
Income

The couple has an annual household income of $112,716.  Nick has stable, long-term employment with Devereaux Farms.  He has worked worked there full-time as a Truck Driver and farmhand since 2016.  He earns an annual salary of $52,000.  Alicia is a Registered Veterinarian Technician. She has been employed by Mildmay Vet Clinic since 2018, earning $40,967 per year (you didn’t actually specify her salary). Alicia also receives $13,740 in child benefits and $6,000 annually in child support.

———————————-
Credit

Alicia’s score is decent. Sitting at 656. Nick’s score is 526 and needs time to improve. During their four-year RTO term, the couple plans to pay down Alicia’s student loan and Nick’s car loan. This will position them to qualify for their own mortgage in 2027. They will be working with a Clover Properties-approved mortgage broker to help them become mortgage-ready.

———————————-
Property

Alicia and Nick found the perfect home for their family in Teeswater, Ontario, a family-friendly community located 1 hour and 20 minutes from Kitchener.  Located close to schools, parks and the downtown for shopping and other amenities. They picked this home because they love the area as it is close to where they both work. This property has 3-bedrooms and 2-bathrooms. It has been well maintained and is move-in ready for their family – updated windows, upgraded furnace, upgraded electrical panel. All for an affordable price. Most importantly, they feel this home is in a safe community for their children to grow up.

———————————-
Next Steps

If you are able to qualify for a $280,000 mortgage, enjoy $798 cash each month and want to help Alicia and Nick get into their own home, please click the button below to indicate your interest.

 

Deal Summary:

Term: 4 years

Purchase Price:  $350,000

Estimated Investment Required: $77,270

Estimate ROI: 29% (based on 6.24%)

Estimate Returns: $88,335

TB Down Payment: $15,000

Numbers Summary:

Monthly Payment: $2,898

Monthly Cash Flow: $798

Future Purchase Price: $445,895 (after four-years)