If you own land, there are several methods to make money. If your main objective is to generate money from an existing asset, you might be amazed at how inventive you can be, even with a little piece of land you already own.
Here are a few ways to profit from undeveloped land:
You can think about opening a campsite if you have a flat, open area that is perfect for camping. You don’t need to make a significant investment to convert your land into a campground. You can start with the necessities for campers. Visit “HipCamp,” the AirBnB of camping, for a simple way to get started with this.
2. Pasturing Animals
If your property includes fields, you might want to seek through local newspaper and internet classified advertisements. More often than not, you can spot cow or horse owners looking for a place to view all of their animals. It’s a lucrative endeavor, and if your property has expansive pastures, animals will keep the grass under control, saving you money.
3. Hunting Rights
You may rent out your land during the hunting season if it is a wooded area suited for hunting. You can bill a set amount or based on the individual. This is one of the ways to earn extra money while maintaining complete control over the land you own during the off-season because you have control over it.
Offering storage services is another option to get extra money from undeveloped property. These days, a lot of people require extra storage space, and you can use your land as a rental storage facility. Simply make sure to verify with the county in your area because you might need to construct a structure for this.
5. Flea Markets
You can lease out space for a flea market if you own land that is close to a lot of foot activity. It’s an inexpensive way to utilize your land while bringing together local customers and sellers.
6. Paintball Fields
The paintball war industry is still very large. Check out nearby paintball grounds if you’re unsure. Several of these have grown to be franchises. Tickets and souvenirs are available for this. If you create a fantastic playing environment, people will travel to very remote regions. Examples include structures that resemble combat zones, bunkers, vintage automobiles, desert regions with ditches, and even rainforest regions. The preparation of your land for paintball doesn’t require much.
If your property has any forested areas, getting estimates from several logging firms to determine how much you may make from timber is a smart approach to get extra money from it. It is not advised to clear-cut your land if you want to maintain the value of the property and be a great environmental steward. However, you can log parts of it while still protecting portion of the forest.
Depending on the type of farming that may present in the area, larger companies or individuals may be looking to lease property for farming either long-term or short-term. Many people also wind up renting out their land to nurseries.
9. Christmas Tree Lot
Christmas tree farming is a big business. You can use or lease undeveloped land if you own it for a Christmas tree lot. For the holidays, a lot of people will use someone’s land. Instead of an annual rental, which you might charge more for.
10. Power Leases or Cell Towers
Leasing your land to some wind farms or other businesses in the alternative energy sector is now a viable way to make money. A cellular tower is one that, if you can find one, is really attractive. There are websites where you can list your land for usage by cell carriers. They are uncommon because most regions have extensive coverage. However, if they choose your property, you will continue to get a rental income. Even in urban regions or isolated areas, they will choose very small parcels for this.
11. Mobile Home Park
Land is a valuable asset, especially for those who are motivated and imaginative enough to put up the effort and time necessary to get started!
Kick off your real estate investment journey by checking out these beautiful properties for sale in Virginia and North Carolina!