Monday, March 12, 2012

Forget finding your kids summer jobs!

14-Year-Old Buys Distressed Home
By Susanna Kim | ABC News
12 March 2012
After Willow Tufano earned $6,000 from antiquing and selling items on Craigslist, the 14-year-old asked her mom if she could invest in half of a short sale in her home state of Florida.

Tufano earned the money from finding free items or deals online or at antique auctions and leftover furniture from foreclosed homes. She re-sells the items or gives them away on the "free" list on Craigslist. She says she could not have thrived in that business without the support of her parents and grandparents, who drive her around to pick up items.

With her saved money, she didn't want to buy or barter for another longboard skate board or Xbox. Instead she set her sights on a three-bedroom short sale of $12,000 that was worth about $100,000 at the peak of the housing market, as reported by NPR's Planet Money.

"If there's one thing I want people to know, it's that your age does not matter," Tufalo told ABC News. " If I can inspire another person my age, younger, that would mean the world. Whether it's buying a house, buying a car, or whatever. If you really work for it and put your mind to it you can do what you want to do."
Step 1: Help sell household goods from 'distressed' properties.
Step 2: use earnings to BUY a distressed property!

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