I’m sure you’ve got much better and more creative ways to take advantage of a piece of raw/vacant land than I do, but if you’re interested in hearing a few ideas I have, then keep reading! This is for all those out there already a landowner and those planning to become one someday.
1. Rent or Lease – Own the asset, and use it as another income stream. There’s plenty of folks looking to use something for just a weekend to escape on a vacation. Other ideas included alternative energy leases for wind turbines and solar energy, and leases for cell towers.
2. Recreation, Hunting, Camping – Get outside and enjoy a night under the stars, set up a hunting base or build that epic dirt bike course you’ve dreamt about.
3. Resell – If you can acquire a piece of land at the right price and are local to an area you might be able to flip that property as-is for a small profit or even small improvements that can add to your margins.
4. Building – Plain and simple. Custom build an acreage to your liking.
5. Homestead, Farming, Ranching – Many of these vacant rural properties would be great areas for hobby farming and homestead life.
6. Storage – We could all use some extra storage space in our lives.
Whatever you have up your sleeve, at the end of the day the land asset itself holds value and it’s even better if you are able to generate money from that asset over time. These six ideas are just the tip of the iceberg when it comes to what you can do with a piece of land.
Thanks for reading!
