Real Estate WEALTH Magazine Real Estate WEALTH Magazine - DOWNLOAD IT HERE! - Page 22

MEET YOUR REIA NYC LEADER Teresa R Martin, Esq - Founder/Counsel D • Even if you're only able to rent out your RV for two weeks out of the month for $125 per night, you're able to earn $23,000 per year! 2. SELF-STORAGE Self-storage is a big industry. The shaky state of the economy may be partially to blame, as the number of multi-generation homes and families downsizing their living quarters are increasing. • The Self Storage Association reports that one in ten families rent out-of-home storage space. Typically, units rent between $50 per month for a small unit to over $200 for a sizeable storage unit. • The cost of purchasing a self-storage facility varies widely. It can cost as little as $200,000 or as much as $3,000,000 depending on the size, location and demand for the service in the area. • Keep in mind, aside from the mortgage, there is still overhead. Utilities must be operating in order to keep the storage facility at an acceptable temperature; this is to avoid ruined personal property. Also, employees might be necessary, as well as a security system. But as a whole, the investment generates fairly passive income. 3. ONLINE REAL ESTATE Online real estate, otherwise known as websites, requires very little investment and can typically gen- erate a good ROI over time. Traditionally real estate is thought of as tangible, but don't disregard the earn- ing power of online property. When you consider that sold for over $5 million dollars, online real estate has the potential for astronomical returns. r. Teresa R. Martin, Esq. is a sought-after attorney, real estate broker, real estate and financial health coach, keynote speaker, author, consultant, and a Dave Ramsey Master Coach. As principal of her own practice, she has honed her skills in the areas of residential & commercial real estate transactions, foreclosure defense litigation and credit restoration services. In addition to being an attorney, Teresa wears the hat of a seasoned real estate investor with a focus on creative acquisition strategies. Strate- gies that she developed, implemented and taught to others through her role as Counsel/Founder of Real Estate Investors Association NYC (“REIA NYC”) and as Director and past President of the New York Chapter of Better Investing, the na- tion’s largest non-profit organization dedicated to investment education. Her legal experience, coupled with her pas- sion for financial ministry and consumer edu- cation, led her to join and complete her Group Leader training with Fellowship of Companies for Christ International (“FCCI”) in 2005. She con- tinues to use her God-given gifts to encourage, equip and help others understand sound financial biblical principles through Generational Wealth Zone, a conduit for the everyday person to achieve financial freedom through tutelage in the areas of financial literacy, business ownership, real estate and stock market investing. Teresa has appeared as a legal and real estate expert on Voice of Ameri- ca, Real Estate Straight Talk and numerous radio programs. She has been featured in such publications as Money magazine and Diva Zone magazine and more. Email: tmartin@reianyc. org Continued on pg. 24 PAGE 22 • 2017