Oshawa Rent-to-Own Opportunity

About the tenant-buyers:

Rita and Michelle are sisters who have found that buying individual houses is out of scope for them so they have combined forces to find a house that they can both invest and live in.   Rita has a 10 year son that lives with her full-time.  Both sisters have good employment but are tired of renting and want to start putting their hard-earned dollars to work for them.  They have saved $40,000 towards their down payment and will need four years to become mortgage-ready as Rita has a student loan she needs to pay down over that time.


The family has a total household income of $178,000. Rita works for DUCA Financial.  She is a Service Director in the core banking division.  She has been with DUCA since 2014 and earns $133,000 annually.  Michelle works for 100KM Foods.  She has been with 100KM Foods since 2022 in the capacity of Customer Service Rep.  She earns $45,000 annually.



Rita needs time to pay down a student loan in order to rebuild her credit.  She has no collections or late payments but her ratios are a little too high for the banks today.  Michelle, on the other hand has no debt and will work on establishing her trade lines over the 4-year term.  They sisters will work with Clover Properties-approved mortgage broker to help ensure they become mortgage ready over the next 4 years.


Rita and Michelle found a great condo town in Oshawa, Ontario.   This property has 3-bedrooms and 3-bathrooms.   Located in a desirable community in Oshawa and close to all amenities including the 401 and 407, transit, schools and parks. Many updates have been made to this property including air conditioning, kitchen cupboards and quartz counters.  There is a condo fee that will be paid by the tenant-buyers.  This fee covers insurance, roof maintenance, windows maintenance and door maintenance.


Next Steps

If you can qualify for a $600,000 mortgage and want to enjoy $1,274 in cashflow each month, please click the button below to indicate your interest in helping Rita and Michelle Rent-to-Own his own home.



Deal Summary:

Term: 4 years

Purchase Price:  $690,000

Estimated Investment Required: $125,000

Estimate ROI: 32% (based on 6.69% and a 4-year deal)

Estimate Returns: $161,682

TB Down Payment: $40,000

Numbers Summary:

Rent-to-Own Monthly Payment: $5,155

Condo Fee: $376 (tenants will pay this)

Monthly Cash Flow: $1,196

Future Purchase Price: $850,108 (after four-years)