Mom Motivated to Make a Fresh Start for Her Kids

Rita is a divorcee with custody of her two children, aged 10 and 12. After a rough divorce, she wants to give her children more stability and live closer to her family in Windsor. She has a stable government job and is able to work remotely. Rita has saved up $25,000 for a down payment is eager to make a fresh start.

Rita’s annual household income is $94,400. She earns $89,600 annually as a Quality Improvement Specialist with the City of Toronto, in the Public Health sector. She has been in this role since 2018. Rita also earns $4,800 annually in child benefits. Her income allows her to easily manage the monthly payments on the starter home she wants to rent-to-own.

For Rita, the credit score is not an issue. She has excellent credit (700). She just needs a little time to pay down some matrimonial debt and build up a bigger down. We will have Rita work with a Clover Properties-approved mortgage professional to get her ready to successfully exit the RTO program and qualify for her own mortgage in 2025.

Rita found a great property with strong bones in the Windsor area. This property has 4-bedrooms, 2 baths and a single-detached car garage. The property has been well-maintained and is spacious enough for her growing kids. Location wise, it is centrally located to amenities, parks, schools, shopping and transit – in fact there are bus lines near the property. The down town core is just 15 minutes away and just 20 minutes to the border of Windsor, making it a high demand area, especially for first-time buyers.

Next Steps
If you can qualify for a $308,000 mortgage (based on a 20% down payment), and would like to earn about $570+ in monthly cashflow to help Rita Rent to Own, please call or text Rachel at 416-450-1940.

Investment Property Highlights

  • Your investment is $70,650
  • Estimated annual return on investment is 32% over four-years (based on a mortgage rate of 3.00 and 30 yr amortization –approximated)
  • Your estimated NET profit $90,566
  • Your NET monthly cash flow is approx. $570 + a month
  • Tenant-buyers have $25,000 for the down payment
  • Tenant-buyers has household income of $94,000

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About the Property

  • Purchase price is $385,000
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $2,258 monthly
  • Monthly carrying costs $1,690 (or less)
  • Tenant-buyer will buy this house in 2025 for $465,645

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 $25,000 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?
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