Florida teen buys her second rental property
POSTED: Sunday, October 21, 2012 - 9:00am
UPDATED: Sunday, October 21, 2012 - 11:08am
NBC NATIONAL NEWS — The new landlord on the block in Port Charlotte, Florida is 15-year-old Willow Tufano.
"I'm so glad that we finally have it," Tufano said.
She just bought a house on Gerard Court for $19,000 as an investment.
On Monday they began remodeling.
This isn't new to Willow. This is the second house she's bought this year. The first was bought back in March and her hobby has landed her in the national spotlight. Now, a team of independent producers are traveling with the family to film for a possible reality show.
"She's definitely a kid, but she also has a business side to her," said Willow's mom, Shannon Moore.
Moore said she is Willow's partner in the purchase. The teen puts up half the money, and pays mom back later. She says she made the money for the first house by selling items on eBay.
Since Willow is not old enough to own a house on her own, mom will put it in her name when she's 18. Until then, she's learning the ropes about keeping the homes filled, dealing with tenants and the value of a dollar.
"She's pretty good with that, I wanted to buy a shed for the backyard and she's like, 'No way, that's like $1,500. We're not going do that; scratch that off your list,'" Moore said.
The plan is to charge $800 for rent and she will use some of that money to pay for future homes. She's also set a goal of buying 10 houses by the time she's 18, which sets her up for a career in real estate.
"I can do it. It sounds like it's not rational, but it's possible," Tufano said.
She says after the latest purchase is fixed up, it's off to look for house number three.