You occasionally hear about teen pop stars and actors buying their own homes, but it’s not every day that you run across a seemingly average 14-year-old girl who not only purchased a property but has already turned it into an income generator.
NPR has the story of the Florida teen who has spent the last few years making a profit off the depressed local real estate market.
She would go around with her realtor mom as she showed foreclosed-upon and abandoned homes to investors. At first, she had the idea of offering to clean out the items left behind by the former tenants and then selling it all on Craigslist. That led to around $500/month in steady income.
Then when she was tagging along with her mom to look at a house, once worth $100,000 that was set to be auctioned off for around $12,000.
“I was like, ‘What if I bought a house?’ That would be crazy,” she tells NPR.
She ended up having to also put her mom’s name on the title, but fully intends to buy out mom’s portion after her 18th birthday, an age at which many of us were probably scouring the car floor mats for enough change to buy a case of Natural Light at the deli where they don’t check your ID.
In the meantime, she’s fixed the place up and is already renting it out to a couple for $700/month.