883: From Homeless at 17 to Solving the Affordable Housing Crisis for a Profit w/Terrica Lynn Smith

The affordable housing crisis is an ongoing challenge here in the United States, but this developer has cracked the code in her own backyard—providing more opportunities for low and median-income households without gentrifying their communities. The cherry on top? She’s making a huge profit while doing it.
In 2005, during Hurricane Katrina, Terrica Lynn Smith couldn’t scrounge up a few hundred dollars to evacuate her and her two children from New Orleans. After this traumatic event, Terrica was determined to break the curse of generational poverty and create a better financial future for her family. Little did she know that she would be creating a better life for countless people in her community as well. After seven failed attempts, Terrica passed her real estate exam and started selling homes. She jumped at any opportunity to learn something new, which allowed her to advance from a real estate agent to an investor, and finally, to a developer.
If you want to have a powerful impact with real estate but lack the resources to do it, this episode is for you. Terrica provides the blueprint for delivering affordable housing to your community at a profit. She also shares the best ways to bring value to a real estate investing partnership, how to get bank financing for large developments, and why cultivating the right mindset is so crucial to your success as an investor!
In This Episode We Cover:
Solving the affordable housing crisis in your community (and how to make a profit)
Why you should get into real estate even if you’re starting from ZERO
Building an impenetrable mindset for real estate investing
How to bring value to a real estate partnership (beyond capital)
How to get bank financing for new development projects
FREE resources to fast-track your real estate journey
And So Much More!
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Catch Henry on the "On the Market" Podcast
The Beginner’s Guide to Real Estate Development (with LOW Money Down!)
Institutional Investors are Buying Up Affordable Housing in Droves—Are They on to Something?
Connect with Terrica
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Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-883
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