The Messy City Podcast Bootstrapping Small Scale Affordable Housing
May 27, 2025
Terrell Jolly, a dedicated small-scale developer from Kansas City, has made waves with his innovative approach to revitalizing neglected neighborhoods using the Abandoned Housing Act. He shares his inspiring journey from Detroit to Kansas City, discussing the importance of affordable housing and community ties. TJ delves into the challenges of navigating the complexities of urban blight, emphasizing the need for strategic partnerships and community involvement. He advocates for turning unique methods into the norm, highlighting the guts required for this essential work.
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Starting With Property Management
- Terrell Jolly started his property management business after finishing his MBA, gaining his first client through a broker.
- Managing properties opened his eyes to the local real estate market dynamics and motivated him to become a full-time developer.
First Cheap House Rehab Story
- Terrell bought his first $4,000 house in Kansas City, similar to one he was managing, to start rehabbing.
- He learned the crucial role of contracting and controlling labor and material costs while renovating.
Undervalued Kansas City Homes Insight
- Kansas City's mid-2010s housing market had many undervalued, low-cost properties due to oversupply.
- Outside investors recognized value local residents often overlooked, buying cheap homes for profit or speculation.