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.
I think we often make simple ideas really complicated. This happens in real estate a lot. But to Willow, it wasn’t complicated. She knew what she wanted to do and she made it happen. She made it seem easy!
Willow saw an opportunity and she capitalized on it; that is a great characteristic for an entrepreneur to have. The fact that she was able to accomplish what she did at such a young age is impressive.
The renting out of the house was a great way to make profits and help provide something affordable for people during the recession. It’s a great idea and was achieved at such a young age! That shows great commitment.