When it comes to Florida real estate, it seems like anything is possible.
For most teenagers, earning extra cash means shoveling driveways, picking up a few shifts at the video store or getting a summer life-guarding job.
For Willow Tufano, it meant becoming a Florida real estate investor.
At age 14, Willow has already had her first taste of the Florida real estate market. She purchased her first home in Port Charlotte, FL for $12,000 dollars and is currently saving up for her second (Ellen DeGeneres even kicked 10k towards the cause).
Teen Dominates Florida Real Estate: Video
So what happened here? Has the Florida real estate market become so flooded with easy properties that even a teenager can play along? Unfortunately not. It’s still important to have a clear picture of where the emerging markets are and an insider knowledge of the legal and financial ins and outs. How was Willow able to turn into a successful landlord while most people her age hadn’t even begun to worry about their university applications, let alone property investment?
First, because her mother was a real estate agent and successful property investor, Willow had an existing knowledge of Florida real estate and was able to lean on her experienced parents as part of her power team. Growing up surrounded by the business was an advantage for her, but all of the information is there for Canadians who know how to find it. Willow stands as proof that it’s important to know your market.
Teen Dominates Florida Real Estate: She Saw an Opportunity and Jumped on It
Willow saw an opportunity in the Florida real estate market and went after it. Typically, Canadians are somewhat risk averse. When presented with a choice, they’ll want to sleep on it. There’s not always going to be time to sleep on it. Even though Willow wasn’t even legally old enough to purchase a home (you need to be 18 or older to have your name on a Florida real estate title), she immediately took advantage of the opportunity and split the cost of the home with her mother, whose name went on the title. With plans to buy out her mother in the future, Willow is likely going to own her own property before she’s legally able to drink alcohol, which is a remarkable achievement. There’s a lot to be learned from Willow’s courageous and forward-thinking attitude towards Florida real estate.
Teen Dominates Florida Real Estate: She Was Willing to Work for It
Willow didn’t turn from high school student to landlord without putting in a whole lot of hard work. She saved up her seed money by flipping antique furniture she found in foreclosed homes, and her $12,000 piece of Florida real estate needed some serious love before it was ready for tenants – “there was a riot or something,” says Willow.
She was able to see the bigger picture – the Florida real estate market as a whole and how her risk and hard work could turn into something very valuable.
If you want to learn how to navigate US real estate investment and take advantage of Florida real estate like Willow, check out my US real estate workshops.
Weigh in on Willow’s story and ask questions about the market on Facebook or in the comments. What are your thoughts on Willow’s story and Florida real estate in general?