A Mother Motivated to Settle Down After Divorce

Melissa is a mom of two kids (7 and 10).  She went through a terrible divorce, which forced her to file a consumer proposal to get out of the debt her ex-husband left her with. Focused on rebuilding her life and creating a more secure future for her kids, Melissa has been working hard to pay it down the consumer proposal. She will wrap up her consumer proposal in 2023, and will need to Rent-to-Own for 4 years to rehabilitate her credit. Melissa has $30,000 saved for a down payment and found a great condo in the GTA, close to work and her family.


Melissa has stable, full time employment. She is a teacher with the TFS-Canada’s International School.  Her combined annual household income is $118,294 and she has been with TFS since 2013. She also receives $2,400 a year in child benefits as part of her monthly income.


Melissa has some work to do on her credit as a result of having to pay out debt as part of the divorce settlement. Melissa’s credit score is currently 527. She will work with a Clover Properties-approved mortgage broker to get mortgage-ready by 2026, giving enough time for her to rebuild her credit after the consumer proposal is paid out.


Melissa found an affordable, low maintenance condo in Toronto where she can make a fresh start. The condo has 1 bedroom and 1 bathroom plus a den, which can be converted into a bedroom to accommodate her kids. Located close to High Park, the building is withing walking distance of many amenities, including 2 subway stations, bus transit, parks, schools and shopping.  Note: The monthly condo fee covers all the maintenance on the property, and is paid for by the tenant-buyer.

Next Steps

If you can qualify for a $440,000 mortgage (based on a 20% down payment), and would like to earn about $947+ in monthly cashflow to help Melissa rent-to-own, please click the button below to indicate your interest in the deal.

Investment Property Highlights

  • Your investment is $110,800
  • Estimated annual return on investment is 29% (based on a mortgage rate of 4.70 and 30 yr amortization –approximated)
  • Your estimated NET profit $126,315
  • Your NET monthly cash flow is approx. $947+ a month
  • Tenant-buyers have $30,000 for the down payment
  • Tenant-buyers have a household income of $118,294

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Investment Property Highlights

  • Purchase price is $550,000 (estimated purchase price))
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $3,550 monthly
  • Tenant-buyer will buy this house in 2026 for $668,921