Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

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

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

FromBiggerPockets Real Estate Podcast


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

FromBiggerPockets Real Estate Podcast

ratings:
Length:
53 minutes
Released:
Jan 31, 2024
Format:
Podcast episode

Description

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!

Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-883
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Jan 31, 2024
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.