If you have a plot of land and you don’t have any idea yet what you want to do with it, then you can look at different options.
From building real estate to breeding animals, there are so many ways that you can use a plot of land.
Whatever you do with your land, there are a lot of different ways to generate an income from your land. That’s why, I put together some tips on how to make money off land.
How To Make Money Off Land
Land is a valuable real estate asset that you can use in so many different ways. Here are my favorite methods to make money with land.
Build Real Estate
Investing in real estate and building houses or offices on your land is one of the most popular ways to make some cash.
This does not just increase the value of your land but also real estate traditionally follows an upward trend.
Depending on the size of your plot, you can build a range of new developments, from office blocks and single homes to apartments.
You can sell your real estate once everything has been built or just earn a monthly income from the rent.
Invest In Solar Energy
Sustainability and sustainable energy is a big topic, and there are a few different options to make money with solar or wind energy.
If you have a good-size plot of land, then you can put up solar panels or wind turbines to generate electricity.
You can then use this to feed electricity to any properties you have on the land or sell the electricity to the main grid.
Depending on the electricity price, you will be able to generate a solid income with good profits. Check out the costs of a solar farm.
Rent Out Your Land For Festivals, Rallies And Events
Another great way to make money is by engaging with the community and offer your land for rent for rallies, festivals, weddings and other events.
The biggest advantage with this money-making option is that you don’t need any upfront investment.
You simply rent the land out and get some quick and easy money back in.
If you have a large plot of land that’s suitable for agriculture and farming, then you could hold a variety of animals.
From bees to make honey and sheep for providing wool to cows producing milk, there are a lot of different options to farm animals and sell the produce.
With a large plot of grass land or meadow, you have almost everything available to start farming.
If you don’t want to go into farming but you still love animals, then breeding animals can be another way to make an income.
One of the most expensive animals to breed and keep are horses.
While this venture requires some upfront investment, the return on your investment is relatively high when you find the right buyer.
You may also want to consider building slightly larger horse stables to house your own animals as well as renting out parts of it to other horse owners.
This could be a very lucrative side hustle bringing in some more cash.
Grow Flowers Or Herbs To Sell
The advantages of growing herbs or flowers on a large scale is that you don’t need a big plot to do it.
Plus, there is a relatively small upfront cost for seeds, flower beds and getting the soil ready. Any herbs, flowers or other plants that are harvested can be sold at farmer’s markets.
You can grow almost anything but make sure that the soil on your land is suitable for what you want to grow. Certain herbs and flowers only grow in specific soils.
Rent Out Your Land For Advertisement And Billboards
Another great way to earn money from your piece of land is by renting it out for billboards and advertising.
There is no cost associated with this method, and you can make money from your unused land immediately.
Lease Your Land To Farmers
If your land is surrounded by farms and agricultural land already, then there may be an opportunity to lease your plot to large scale farmers.
You don’t need to spend any money upfront. Plus, many farmers typically sign a long lease which guarantees a long-term income for you.
Forest Timber On Your Land
If you own a woodland plot, forest or just a piece of land with a lot of trees, then you could harvest the timber.
Saying this, the value of timber varies widely, depending on the type of tree and timber quality.
So, make sure to check if it’s really worth making money with timber. You will also need the right equipment to harvest the wood.
Frequently Asked Questions
Is Land A Good Investment?
Buying raw land is generally considered a risky investment as it doesn’t generate an income immediately.
You will need to consider carefully how you want to use your land. If you want to generate an income with your land, then make sure that the plot is suitable for your new business.
Does Land Ever Lose Value?
All real estate and land are affected by market conditions. As land is a risky investment, it could lose its value over time.
This is especially true for land that is affected by earthquakes, mudslides, flooding or other natural hazards.
What Are The Benefits Of Owning Land?
Despite land being a risky investment, it’s still a good asset that can increase in value over time.
As a landowner, you still own an asset which can provide financial security and ways to generate money.
Plus, you can choose exactly what you want to do with your land, from building apartments to leasing the land to farmers.
There are so many ways to make money with your land, from putting up advertisement to animal farming.
While you may need to put some time, effort and money into your new venture, the return on investment is often very good.
Paul Martinez is the founder of BendingDestiny.com. He is an expert in the areas of finance, real estate, and eCommerce.
Join him on BendingDestiny.com to learn how to improve your financial life and excel in these areas. Before starting this blog, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.