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This is a great story and should inspire people young and old.
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? Still haven’t purchased a home yet?? What about your first investment property? 40 years 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. Don’t feel bad most of us haven’t planned out our future. Just remember, your never to old to start investing or too young!
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. A bold move for such a young girl, clearly wise beyond her years. Good luck to Willow and hopefully she will keep growing her portfolio.
For the rest of us, be brave! be bold! start looking for that investment opportunity. Keep in mind, Real Estate is an investment and should be properly managed. Find a qualified property manager near you.