Episode #883 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! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Catch Henry on the "On the Market" Podcast: https://link.chtbl.com/OTM ~~~~ The Beginner’s Guide to Real Estate Development (with LOW Money Down!): https://www.biggerpockets.com/blog/rookie-319?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Institutional Investors are Buying Up Affordable Housing in Droves—Are They on to Something?: https://www.biggerpockets.com/blog/institutional-investors-are-buying-affordable-housing-in-droves?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Terrica: BiggerPockets: https://www.biggerpockets.com/users/terricas?utm_source=youtube&utm_medium=description&utm_campaign=none Facebook: https://www.facebook.com/OfficialTerricaLynnSmith/ Instagram: @femalerealestateguru or https://instagram.com/femalerealestateguru LinkedIn: https://www.linkedin.com/in/terrica-smith-19841967/ Website: https://www.terricalynnsmith.com X/Twitter: @Tee21Al or https://twitter.com/Tee21Al ~~~~ Connect with Henry: BiggerPockets: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @thehenrywashington or https://www.instagram.com/thehenrywashington ~~~~ Connect with Rob on BiggerPockets: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Rob (Robuilt): Instagram: https://www.instagram.com/robuilt/ TikTok: https://www.tiktok.com/@robuilto X/Twitter: https://www.twitter.com/robuiltchannel YouTube: https://www.youtube.com/c/Robuilt ~~~~ Show notes at: https://link.chtbl.com/BPRE 00:00 Intro 01:33 Homeless and Trapped During Katrina 08:06 Starting with NOTHING 15:23 Terrica’s Turning Point 24:23 Real Estate Development 101 32:30 The Affordable Housing Blueprint 40:59 FORCING Home Appreciation 42:53 Advice for New Investors