Louisville Kentucky Home Insider: 14 Year Old is First Time Home Buyer | Time to Buy!

14 Year Old is First Time Home Buyer | Time to Buy!

Here is an interesting story I heard today that I thought I would share....

14 Year old Home Buyer


Willow Tufano is a 14 year old who lives in Florida. One thing that differentiates her from her friends is that she just bought her first house, a rental property. She bought it with her mother, but anted up her fair share with money she saved for over a year by selling free items she had previously found and fixed up.

The area was hard hit by the housing crisis and Willow and her mother were able to buy the home which was once valued at $100,000 for just $12,000. Why would a 14 year old even consider buying a property?

Rental Property

She is using her half of the rent they charge ($700) to pay back her mom for the second half of the house and the renovations they put into the house. Willow says she’ll have it all paid off in six years. Then she’ll keep the house as a source of income.

“It was definitely a lot of inspiration from my mom and my grandma,” Tufano said. Her mom is a successful real estate agent who owns several investment properties.

You dont have to be an expert investor or housing guru to figure out homes are on SALE! Now is a great time to buy because the costs are lower for today's buyers.

Sean S. Williams
Licensed Broker, Realtor
®, ABR®, e-Pro®
1st Time Buyer & Relocation Specialist
502.727.9784 cell
Semonin Realtors
of Louisville, Kentucky
"Eat. Sleep. Real Estate."

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Comment balloon 5 commentsSean Williams • March 20 2012 11:25AM

Comments

Great Article! I wish they would feature this on the 24/7 news cycle instead of all the gloom & doom.

The American Dream is Alive & Well!

 

Posted by Yvonne Schnee (Keller Williams Realty Moorestown) over 6 years ago

Great post it is good to see someone so young become involved in investing real estate is a great way to invest. Thanks for sharing this positive story.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) over 6 years ago

Guess her mom is breaking her in the right way.  Wonder if she will pay for half of the maintanence and upkeep everytime a tenant moves out, or will she be over there painting, scrubbing and repairing?

Posted by Leslie G. Rojohn, GRI, ABR ~ MoonDancer Realty (MoonDancer Realty) over 6 years ago

@ Leslie, You betcha she's paying half of the upkeep, taxes and insurance.

She will also be in a new reality TV show about investing, which will hopefully pay for additional homes and expenses. As well as college...

signed,

Mary Shannon Moore--Her mom :)

Posted by Shannon Moore over 6 years ago

Shannon -

Haha what a coincidence to hear from you and I apprciate you commenting on my post! Great to hear the good news for your daughter and I'll be looking for her show on TV. Do you know when it will air or on what network it will be on?

 

Thanks!

Posted by Sean Williams, Your Louisville Realtor (AcklesWilliams of Semonin Realtors) over 6 years ago

Participate