Archive for real estate

Willow Tufano: Entrepreneurial Foresight

Willow Tufano is a fourteen year old girl living in Florida with her mother who works in real estate. When the recession hit a few years ago, Florida was hit very hard and houses that were initial being sold at $100,000 were now being sold for only $12,000. Because of the low price of homes, Willow got the idea to purchase a house of her own! She had saved up some money by clearing houses and selling the included possessions online. When her mother found out that she wanted to buy a house at 14, unlike most parents, she was in full support (also in support of the rest of the needed funds). Knowing that the housing market would pick up in the future, Willow and her mother rented out the purchased house and charged $700 a month. They have already earned back their initial investment on the house and have even made a profit. In the future, Willow plans to buy her mother out and own the house alone. When the housing market picks up in the future, Willow is likely to see an amazing increase in her already impressive amount of profits.

Home Owner at 14

When the recession hit and the housing market crashed, Willow Tufano’s mother, who is a real estate agent, was seeing $100,000 homes sell for $12,000. Willow already enjoyed clearing houses and reselling the items she found, so she thought, why not buy a house! At the age of 14, Willow bought her first house at $12,000, which she split with her mom. Willow fixed up the house and put it on the market for rent. She successfully rented the house out for $700 a month and quickly made her money back.

Willow was also being noticed now that she was a 14 year old home owner. Ellen asked her to be on her show and said that Willow was such an amazing kid! Although Willow didn’t think of herself as amazing, or different, she then started getting calls from many different TV shows and even a college. She was called by Good Morning America, Anderson Cooper, a Korean show, and by a college in Alabama to give a talk. Willow flew to Alabama to give a talk despite being very nervous, and did great!

This might not be a traditional business start-up, but Willow Tufano is definitely an entrepreneur. Now 15, she has bought another house. Willow is a true inspiration to just go for it, a walking example of the analogy “ready, fire, aim”.

A Real Estate Investor Who Isn’t Old Enough to Drive

Willow Tufano is a now fifteen year old girl who lives in Florida, but she was only fourteen years old when she bought her first house with the help of her mother, and began renting it out for $700 a month.  The two now own an additional house which they also rent out.  They bought the first for $12,000 and the second for $17,500, incredibly low prices in the housing market.  Willow’s plan is to buy her mother’s half of the houses when she turns eighteen and is legally allowed to own a house, she also hopes to own ten of these homes by that point.

Willow’s mother worked in real estate even before Willow asked for help to buy a house, and Willow helped gut and renovate houses for her mother, as she does still, now, for the houses that the two buy together and rent out.  Willow has put so much time into these houses and this business that she has left her full time school for the gifted to be homeschooled through Florida’s Virtual School.

I am personally inspired by Willow because I know adults who are in a similar business, with buying and renting out houses, who are much later in life than she is.  I didn’t think it was possible for a girl her age to be handling such big projects and to be putting so much energy into something that is generally something that adults who are older than her do.  She’s also inspirational because she is able to balance school and her business, and she was able to recognize that she wouldn’t be able to do that while still enrolled in traditional schooling, and made the decision to switch to homeschooling.  Willow renovating a home