Teen Landlord Turns Foreclosure Into Investment Property
Move over Millennial landlords (and tenants)...Generation Z has arrived.
Did you hear about the teen landlord who turned a foreclosure opportunity into an investment property? How old were you when you bought your first home? 25 years old--30? What about your first investment property? 40 year old? 50 years old? Willow Tufano, a 14 year old Florida teen recently became the youngest teenage landlord in America after purchasing an investment property for just $12,000. At first, her parents thought she was crazy when she came to them with the idea, but after realizing she was serious and the opportunity for a significant return on investment, they helped to purchase the short-sale property (she had $6,000 saved by herself) and fix it up. She now rents the property for $700 mo. After paying her parents back, which should take around a year, Willow will net $8,400 annually from her rental property--over $33,000 by the time she graduates high school and heads off to college. TV host Ellen DeGeneres , invited Willow to her show to discuss this rare activity for a teenager. Watch to see how she did it and what her future plans are. Source: The Ellen DeGeneres Show--CBS
What were your future plans when you were 14 years old? Were you thinking of owning real estate or a rental property back then?