Land isn’t suggested as an investment as often as real estate, but that doesn’t mean that there’s no potential to make money from it. If you’ve found yourself scooping up a piece of land or you’re looking for a way to capitalize on an area that’s being developed, here are some of the ways you can make money from the land you own.
Photo by Pexels – Pixabay License
Making an improvement and selling the land
Much like remodeling and selling a home, you can flip a piece of land as well. Depending on where it is placed, a few smart investments can make it a much more attractive purchase for business owners and real estate investors in the area. For instance, you could build a new road on the land that makes it a much better prospect for building properties on, or make water available and get septic approval to sell it as some good farm or campground land.
Prepare the land for real estate development
Are there real estate investors who are looking hard at the area that you’re in? If you have land that people are already starting to inquire consistently about, you can develop the land and break into pieces that you can sell to those looking to build homes individually. For instance, turn 12 acres into 6 2-acre parcels. If you get enrolled in surveying study pathways, then you can learn the skills to perform a full site survey yourself. This can help you identify which land can best be sold to those looking to develop or building property on it.
Attract campers to come and stay on it
You don’t necessarily have to sell land to make some good money off of it. If you live in a place that’s nice and scenic, or close enough to some high-demand attractions, then you might be able to make money off campers instead. Creating space for tents and RVs, advertising it to campers, and making sure that they have the amenities they need could turn your unused land into a fantastic campground. Just make sure you take a look at any permits or licenses you might need to rent out your land.
Consider leasing it to hunters
If your land has plenty of wildlife on it, then did you know that hunters might be willing to pay quite a sum to rent it from you? Hunting grounds can be leased out to those who want privacy and exclusive rights to hunt on your private property when the season comes round. It might not make enough money to cover all the taxes alone, but it can be an excellent way to make some money back while you’re waiting to seel or to get the money together to develop the land.
If you have land, there may be plenty of ways to make money from it that you haven’t considered yet. The examples above are just that and not an exhaustive list by any means. Just ensure you make the appropriate investment for the land you’ve got.
Recent Comments