14-Year-Old Girl Gets Into Florida Real Estate
While most teenagers are saving up for a used car or blowing their cash on video games, one Florida youngster made a more mature investment.
According to NPR’s Planet Money, 14-year-old Willow Tufano’s area was severely affected by the real-estate crisis.
As vacancies swept through the neighborhood, Tufano’s mother, real-estate broker Shannon Moore, began working with investors who wanted to bid on foreclosed homes.
When Moore mentioned a two-bedroom, one-bath home in Port Charlotte, Fla., selling for $12,000, her daughter pounced on the opportunity.
Minors can’t own real estate in Florida until they’re 18, so Tufano and her mother split the investment — a concrete-block home estimated to be worth $100,000 at the bubble’s height.