First-Time Homeowners in Ottawa

Rachel and Christian are a young married couple. They are focused on building up their careers and setting themselves up for a prosperous future, so kids may be on the back burner. The couple has little debt and saved up $17,000 for their down payment. Given today’s real estate market and mortgage rules, they will need to Rent-to-Own for three years to become mortgage-ready.

Combined, Rachel and Christian earn a total of $116,400 yearly. They both work for the Federal government and are considered essential workers. Rachel is employed by Export Development of Canada and has been there since 2016. As the Senior Underwriter Policy Coordinator, she earns $61,400 annually. Christian works for the Department of Foreign Affairs. He started in February 2021 and earns $55,000 annually.

Rachel does not like credit cards and has not been using them much. As a result, she has a low credit score of 589 and will need time to establish new credit. Christian has a credit score of 586. He has one car loan on his credit that will be paid down over 36 months during their RTO term. The couple seems to have good payment habits and are conservative when it comes to using credit. However, they will work with a Clover Properties-approved mortgage broker to ensure their credit scores increase adequately by 2024.

The property is a condo-town in Ottawa. The monthly condo fees are reasonable, and they will be covered by the tenant-buyers. This well-maintained 3-bedroom, 2-bathroom house has a finished basement and updated kitchen. Rachel and Christian love the area as it is mature and quiet.

Next Steps
If you can qualify for a $360,000 mortgage (based on a 20% down payment), and would like to earn about $1069+ in monthly cashflow to help Rachel and Christian Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $93,100
  • Estimated annual return on investment is 31% (based on a mortgage rate of 3.00 and 30 yr amortization –approximated)
  • Your estimated NET profit $86,838
  • Your NET monthly cash flow is approx. $1069+ a month
  • Tenant-buyers have $17,000 for the down payment
  • Tenant-buyers has household income of $116,400

click to download spreadsheet


About the Property

  • Purchase price is $450,000
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $2,900 monthly
  • Monthly carrying costs $1,831 (or less)
  • Tenant-buyer will buy this house in 2024 for $520,479

Next Steps

  • Yes, I want to proceed with this opportunity
  • Meet realtor and sign conditional offer
  • Confirm your financing
  • Review inspection report
  • Review contracts
  • Go firm on the deal
  • Tenant-buyer’s $17,000 down will be used as the deposit on the property with accepted offer
Rachel and Neil Oliver
Rachel and Neil OliverCo-Founders, Managing Partners
Need a Mortgage Partner for Your Next RTO?
If you’re craving cashflow but have only cash to invest, let’s explore a Joint Venture.

Contact me for more information or if you have any questions: