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Do you own a parcel of land and you're just letting it sit there costing your money each month? Maybe you're not ready to build or something along those lines. Whatever it is, today's contributed post teaches us 6 ways your land can make you money. Enjoy!
One of the goals for many people is to buy a property. Whether this is to live in right now, rent out to someone else and bring in an income or simply to have on a portfolio, renovate and sell, a property being bought is like ticking a box. Achievement unlocked: property has been bought. The one thing that most people don’t put on those achievement lists is the purchase of land. It’s got quite the romantic appeal to it, land.
Owning a piece of the earth and knowing you can choose to do whatever you would like on it is a big deal, and the reality of owning land is that it can go two very different ways: you could make a lot of cash by doing something with it, or you can let it become overgrown and earn nothing.
It costs money to own land. The time spent maintaining it can be consuming and the money that you put into keeping it healthy can add up. The idea, then, is to do something with it. Learning how to monetize your land – ideally without lifting a finger to do anything – has the capability to change your life.
Buying a chunk of land with companies like sportsafieldtrophyproperties.com gives you the chance to do anything you want with the land, whether you’ve bought it for hunting, growing seed or simply to live on. If you own land, check out the tips below for earning money on your property long-term, without having to do much to make it happen!
It doesn’t matter how, but advertising is going to earn you money. One of the most popular ways that landowners earn cash on their land is to allow a billboard to be erected, especially if your land is close enough to highways or metropolitan areas where the advertising will be seen. There are a lot of factors that will dictate how much you’d be paid; the size of the advertisement, the location of the land, the current advertising rates – all these will need to be considered. It can mean anything from hundreds to thousands of dollars every month being paid to you, simply because you allowed an advertisement on your land.
Leasing your land out can mean big money for you, especially if you are leasing it to hunters. Your land could be in a prime hunting spot, especially for wild game. This means that allowing people to hunt on your land can bring in a sizable income for you. You could choose to invest a little, adding accommodation like cabins with running water and wash facilities to your land. This can make your stretch of land particularly attractive to those wishing to hunt. You could go long-term with this; leasing it to hunters year by year, keeping your land earning while you continue with your everyday life.
Timber is always in short supply, and depending on where your land is based, you could be paid per acre on how much timber could be harvested. It will vary based on the age of the trees, but lumbar companies will approach you with their needs and you can decide from there whether you have what they are looking for.
Location counts here, as your farm could be located close to farming land already. Leasing out your land to farmers can make a massive difference to your bottom line, as you can watch the income roll in while the farmers work your land for you. Farmers will care for the land, harvest crops and care for any animals and you won’t have to lift a finger to help. The larger the land that you own, the better it will be for farmers to lease from you and work over. Always ensure that the correct contracts are drawn up and a figure that is beneficial for all is settled on. This can run into the thousands and makes your land profitable from a distance.
Your land can be worth so much more split into pieces than in one whole piece. You can profit from land in many ways, as mentioned above, so if you have a sizable piece to do something with, the idea that you could draw some lines and divide it up could work in a way that gives you multiple options. Having a decent acreage can mean you advertise to companies, while leasing to hunters and selling timber in different areas. Of course, that’ll all depend on how big the land is that you own in the first place. Not every landowner will want to divide up their land, feeling like their land as a whole is worth so much more. That just may not be the case for you as an individual.
You could invest some cash in building warehouses and large storage buildings to lease out to other companies. Everyone from homeowners to business owners pay good money for storage, and you could offer a solution that works all around. Don’t limit yourself to one company or homeowner, either, especially if you have the space to run a storage unit. Bringing in a manager to manager the day to day running of it will mean that you can continue to make an income passively and from a distance with little to no involvement other than collecting the checks.
Being profitable with your land is going to take some serious consideration; after all, you may still want to build on your land and profit from it with your own home and selling that on. There are plenty of landowners out there who would love to be in the position that you are, being able to choose what to do with empty acreage. You don’t have to allow it to sit empty for much longer; taking the time to use the land for profit is going to make a difference to your yearly income figures, so go ahead and take the initiative!