In early March of this year, Willow Tufano, age 14, made national news by purchasing a house and becoming a landlord. The story went around the world and Willow landed an interview on the Ellen DeGeneres Show.
Real Estate Teen Willow Tufano
People assumed that it was a just a fluke until October 12th when National Public Radio (NPR) reported that Willow, now 15, has scored a second rental property.
After refurbishing and leasing out her first property, the tenant vanished late one night without bothering to pay the rent. Therefore, Willow is now a veteran of the harsh realities of property management.
She is also now a student of the American media machine—a teen “real estate mogul “, “minor celebrity”; shopping for a reality show deal. She was sought out by Good Morning America, Anderson Cooper and “some show from Korea”, according to Chana Joffe-Walt of NPR.
How Did She Do It?
Willow is home schooled online. This allows her the freedom to experience real life business principles during the day and finish her online lessons at night.
She accumulated a small investment fund by selling “stuff” on Craigslist. After saving $6000, Willow’s Mom, a REALTOR, mentioned a $12,000 house formerly valued at $100,000. 00 (prior to the crash of the market). Willow asked her Mom, to pitch-in the other half so that she could purchase the house. (Willow plans to buy- out her Mom’s interest when she becomes 18.) The rest as they say is history.
Her Portfolio Management Strategy
Willow refurbishes the properties and leases them out to tenants. Her buy, hold and rent strategy is also popular among major institutional investors.
Click here to listen to the full story, or watch the YouTube video of Willow’s Ellen DeGeneres interview below.
Source:
- NPR. Planet Money. This 14-Year-Old Girl Just Bought A House in Florida. Chana Joffe-Walt. March 9, 2012
- NPR. Planet Money. Remember The 14-Year-Old Who Bought A House? She Just Bought Another One. Chana Joffe-Walt. October 12, 2012.
- YouTube. The Incredible 14-Year-Old Who Bought a House. Ellen TV.com.
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