Willow Tufano lives in Fort Myers, Florida – an area where the housing market has gotten so bad that Florida has earned the title of highest foreclosure rate in the country. The weakened market has made people extremely cautious about buying a house; after all, it is a huge investment, and that money will be tied up and useless if cash is ever needed and the house won’t sell. That explains why rental rates have been rising across the US – in fact, paradoxically, in nearly all housing markets buying a house turns out to be more cost-effective than renting.
That little fact did not escape Tufano – and like some others who have been eyeing the slump in the housing market, she decided to take advantage of it. Earlier this year, at the tender age of 14, she bought her first house for a mere $12,000. She recently purchased another property, and has been renting them out.
Tufano’s introduction to the world of being a landlord has brought her face to face with many common tenant problems – such as the tenant who stopped paying rent and then just left without a word. But even if she runs into a lot more problems, renting isn’t the only business idea she has in mind. The Huffington Post reported in “Willow Tufano, Florida Teen, Buys Second Home” that she plans to capitalize on the fame and attention her activities have brought her – by turning it into a reality show.
Tufano clearly has the determination and ability to go far – as well as the creativity to keep her options open. As long as she keeps it up, she is certain to turn her work into success – as well as make her a role model and inspiration for other teens.