Go-Getter Entrepreneur Shooting for Her OwnHome

Felicia is a single mother who is a self-employed go-getter.  She is a mortgage agent who recently completed training to become a real estate agent as well.   Felicia took a hit to her credit when she was in a bad car accident in 2014 and unable to work.  Since then, she re-educated herself and is determined to get her life back on track. She has saved up $25,000 for her down payment and is looking for help to get into the market now in the Oshawa area to stay close to where her daughter goes to school.

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Employment

Felicia has an annual household income of $90,116.  After her car accident, Felicia worked on getting her mortgage license to get back into the workforce.  She has been working with Genesis Mortgage since 2016.  In 2021, she completed training to become a realtor and is working with Engles and Volkers in Pickering .  Between the two, she grossed $80,000 in 2021 and is on target to improve on that number in 2022.  Felicia also receives child support of $6000 annually and child benefits of $4116 annually.

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Credit

Felicia has a credit score of 645. She will need a three-year term to improve her score and her credit history.

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Property

Felicia found a great property that is well-suited for her and her daughter in Oshawa, Ontario. The condo town provides them with the room they need and is located in a safe area which is very important for Felicia.  The property has 3 bedrooms and 3 bathrooms and is located in the north end of Oshawa.

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Next Steps
If you can qualify for a $360,000 mortgage (based on a 20% down payment), and would like to earn about $941+ in monthly cashflow to help Felicia Rent to Own, please CONTACT Rachel – Rachel@rethinkrenting.com OR 416-450-1940.

Investment Property Highlights

  • Your investment is $87,100
  • Estimated annual return on investment is 30% (based on a mortgage rate of 2.50 and 30 yr amortization –approximated)
  • Your estimated NET profit $79,408
  • Your NET monthly cash flow is approx. $941+ a month
  • Tenant-buyers have $25,000 for the down payment
  • Tenant-buyers have a household income of $90,116

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Investment Property Highlights

  • Purchase price is $450,000 (estimated purchase price))
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $2,688 monthly
  • Tenant-buyer will buy this house in 2025 for $520,479