14-Year Old Girl Buys Foreclosed Home in Florida
Unlike most teenagers, 14-year old Willow Tufano is cashing in on her dreams.
Instead of buying herself an Xbox or an iPad, she purchased a foreclosed property. Tufano bought a foreclosed home with her Realtor mother, Sharon Moore, for $12,000, according to San Francisco Chronicle blogger Anna Marie Hibble. In Florida, minors can’t buy real estate until they are 18, so Tufano and her mother purchased the property together.
Willow saved $6,000 by selling items she found in abandoned foreclosed homes, which she frequently toured with her mom. The two-bedroom, one-bath brick home in Port Charlotte, Fla., was worth about $100,000 at the height of the real estate bubble.
Together, she helped her mother fix up the home and has a renter paying them $700 a month. Her return on investment (ROI) is 70 percent.
Is your bank or mutual fund giving you those kinds of earnings?
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