Marmora Rent-to-Own Opportunity

About the tenant-buyers:

Chris and Joanne have been saving for a few years now with the goal of buying their first-home.  They have two kids (20, 13) and wanted to give them a place that they could have as their own. Unfortunately, the realtor and mortgage agent they were working with led them down the wrong path and advised them to firm up on their offer on a house without having a concrete mortgage qualification in hand.   After a tough two year period where the family suffered a car accident and struggled to make ends meet, they bounced back strong only to get advice that wasn’t realistic for their situation.  They are a genuine, hardworking couple looking for help to close their property so they can stay in area that is close to family and employment.  The couple has $50k towards the purchase but due to needing time to repair their credit, are unable to close on the property at this time.  They need 4-years of credit repair and should have no problem qualifying for their own mortgage at the end of that term.

There is a slight bit of urgency as we are trying to help them close in two weeks, by May 19th.


The couple have an  annual income is $176,408.  Chris works for International Cooling Tower as a Carpenter.  He is unionized (Union Local 27) and has been in this role since 2018.  He earns $130,000 annually.  Joanne works for Pizza Pizza.  She has also been with the company since 2018 and earns $40,000 annually.  They also receive Child Tax Benefit of $6,408 annually.


Both need support on their credit which took a dive after their car accident in 2020.  They couple worked hard to pay off some debt and just have a car loan now on their credit that they will be working to pay down.  The couple will need four-years of credit repair and time to pay down their car loan and will have no problem exiting into their own mortgage at that time.  Chris and Joanne will be working with a Clover-approved Mortgage Professional to improve their credit and get mortgage ready.


This house has already been purchased so no worry of multiple offers etc.  It is located in Marmora, Ontario, 45 minutes outside of Peterborough which is close to family and an hour from Bowmanville where they both are employed.  The property has 5-bedrooms and 3-bathrooms.  Located on acreage with a 1.5 car garage and lots of potential.  This house has been renovated and has been well-maintained.

Next Steps

If you can qualify for a $488,000 mortgage and want to enjoy $856 in cashflow each month, please click the button below to indicate your interest in helping Chris and Joanne Rent-to-Own their own home.



Deal Summary:

Term: 4 years

Purchase Price:  $610,000

Estimated Investment Required: $104,500

Estimate ROI: 32% (based on 6.24% and a 4-year deal)

Estimate Returns: $133,214

TB Down Payment: $50,000

Numbers Summary:

Monthly Payment: $4,474

Monthly Cash Flow: $856

Future Purchase Price: $748,090 (after four-years)