, March 15, 2012 10:43 am
So says 14-year-old Willow Tufano, who lives in Port Charlotte, Florida and has invested in her first piece of real estate. Age 14! For all of you who think there’s something you can’t do in life, Willow may be your inspiration.
In 2005, when real estate was booming everywhere, Willow’s parents bought a bigger house and her mom became a real estate agent. Life was pretty good. But when it all came crashing down, in 2008, a lot of her neighbors lost their homes to foreclosure. She would tag along with her mom looking at homes with investors and got the idea at one of them that she could sell the items left inside the home and start saving money. (Here’s a teenager who doesn’t care about Xboxes or doing drugs.) The investor appreciated the help clearing out the place, so Willow started her quest to sell these items on Craigslist and eBay including other things she’d find at antique auctions (where she’d catch a ride with a parent or grandparent). Who doesn’t like a good deal?
When her mom came across a short sale (where the home’s value is less than the mortgage), Willow suggested that she and her mom go in together. The price was $12,000 and Willow just happened to have $6,000 already saved up. You can’t own real estate if you aren’t at least 18 years of age. Mom thought this was a fine idea and the rest is herstory! With the help of her family, the place got cleaned up and renovated and now Willow is renting it to a young couple for $700/mo. This youngster, who reminds me of Tatum O’Neal as a teenager, is on her way to taking control of her life and financial future. How cool is that? It took most of us years to get to this point. http://www.huffingtonpost.com/2012/03/12/14-year-old-willow-tufano-buys-florida-home_n_1340452.html
So, the next time somebody tells you a goal is not achievable, or you don’t have the moxie to pull it off, think of Willow Tufano down in Port Charlotte, Florida. You go girl! Until next time, here’s to good planning!