Terrica Lynn Smith’s story is one of remarkable transformation. Once homeless, she’s now a millionaire real estate investor in Louisiana. Her journey inspires many and challenges stereotypes about success in the real estate industry.
Overcoming Adversity: From Foster Care to Real Estate Success
Smith’s early life was marked by hardship. As a foster child in Louisiana, she often tried to escape. Later, she found herself homeless, living under a highway with her son.
Despite these challenges, Smith persevered. Today, she’s a successful real estate investor. Her office prominently displays a map of Harriet Tubman’s route, symbolizing her own journey to success.
A Chance Encounter Sparks a Real Estate Career
Smith’s entry into real estate was serendipitous. At 17, she worked selling magazines door-to-door across the country. In California, she noticed many wealthy homeowners worked in real estate.
This observation planted a seed. Later, a chance encounter with a real estate professional in Lafayette solidified her interest. Despite knowing nothing about the industry initially, Smith was determined to succeed.
Perseverance Pays Off: Building a Multi-Million Dollar Development
Smith’s path to success wasn’t easy. It took her seven attempts to pass the real estate exam. Her first year as an agent, she made only $5,000.
Undeterred, Smith pivoted to focus on investors. She eventually secured a client who helped launch her career. Smith recalls, “One rich person knows another rich person. He told all of his friends about me.”
Breaking Barriers in Real Estate Development
Smith’s ambition grew beyond individual properties. She set her sights on developing entire communities. However, banks initially refused to lend her money for a large-scale project.
Undaunted, Smith found creative solutions. She started Louisiana’s first real estate crowdfund. This innovative approach allowed her to finance a $21 million mixed-use community.
Giving Back: Building Communities and Inspiring Others
Today, Smith’s developments include over 200 housing units. She’s working to bring a grocery store to her community. Her success extends beyond personal gain.
“If I can overcome being homeless under a bridge, a teenage mom trapped in the city for three days, unsure if I’m going to live and having to start completely over in a foreign place, then other people can do it, too,” Smith says.
Smith’s new goal is to teach over a billion people to invest in real estate. She believes in the power of real estate to transform lives, just as it transformed hers.
