Learning what it takes to be a successful real estate investor may seem like a lot and it may even seem like it could be a little boring. A Lafayette investor has found a way to make it fun.
Terrica Lynn Smith created a Monopoly-like game that not only teaches you to buy property but also teaches you how to build developments and ultimately get the keys to the city.
"Developers is a board game I created to teach children and adults how to create generational wealth through real estate investing," she says.
Smith says in the game, you start off with $100,000. That money is to be used to buy rental, multi-family, commercial property and even build entire developments. As you roll the die, the game takes you through real life situations, both good and not so good. You may roll and land on a liability card.
"With the liability card, it's taking money out of your pocket so you are paying and if you don't keep up with pay days on the board and get some good life cards, you will end up bankrupt."
There are "good" cards, or asset cards, as well that actually add money to your pocket. Developers is a game for anyone ages 10-100 years old. As you play, you are learning the terminology and strategies of real estate investing.
"Create a family night where you are all together," Smith says. "This is something they aren't getting in school and now you have an opportunity to play a game with your child and also teach life lessons that will last generations."
She knows of what she speaks. Real estate investing is what changed Terrica's life.
"I was abused. In foster care. My siblings and I ate grass just to survive," she says.
The New Orleans native moved to Lafayette after Hurricane Katrina.
"I relocated to Lafayette and went to real estate school and I worked my butt off."
Smith's biggest project to date is the Madeline Cove Subdivision on Lafayette's Northside. It will be the first in that area where people are able to work, live, eat and play all in one place. The area will feature affordable homes, built by Acadiana builders.
Between Madeline Cove and the Developers Board Game, Terrica's life mission is in full swing.
"In my heart has always been to change a billion lives through real estate investing because that's what changed my life. It's what I know who to give back. It's a big vision but I'm going to do it one person at a time."
If you are interested in purchasing Developers, you can order a board game at developersboardgame.com.