HOW TO MAKE MONEY FROM RAW LAND?
Like all real estate, raw land is valuable, and what you choose to do with it can make it more profitable. A lot of people have landed properties that are being kept for years without making use of it to generate more money. It is good to buy land but better to turn it into an income-generating channel.
A land that’s not being used is called a lazy asset. However, it should be emphasized that location is absolutely crucial when it comes to the profitability of investments on one’s land. There is no business that doesn’t require the use of land.
You can make money from a piece of land by renting it out for:
Events And Festivities
Renting out space for events is one of the best business ideas for raw land. There are a whole bunch of events that can take place on your land. They can be sporting events, e.g. not very professional football matches, running, and many others. You can also organize various festivals, e.g. music festivals, beer festivals, craft festivals and much more.
Local Gardeners
Community gardens are becoming increasingly popular. If your land borders residential neighbourhoods or apartments, you may have luck renting plots of land to community members for their own personal gardens.
A Farmer
Maybe you’ve acquired land with excellent agricultural potential but have no desire to become a full-fledged farmer yourself. Don’t let this potential go to waste. Instead, rent it out to farmers who will care for the land and harvest crops. All the owner has to do is set up a lease agreement. The larger your plot of land, the more attractive it will be to interested farmers.
READ: 5 Land Investment Myths and Facts
Furthermore, you can use your plots of land by building:
Shopping Malls and Office Space for Rental purpose.
Building a shopping mall and renting space in it for shops and sellers is definitely one of the most powerful ways to make money from land ownership. These shopping centres are most profitable in areas of cities where many inhabitants live nearby and there is no large shopping centre yet. If you have a limited budget, you can create such a shopping centre.
Mini Shops Near the street
Creating a mini store is one of the simplest small business ideas for vacant land. Depending on the location and matching to the needs of customers, one such small shop can earn an entire large plot and its maintenance. You can also invest in several of such mini-stores side by side on your plot, and then you can rent them so that renting will provide you with passive income.
Rental Properties
When you build a house, you know what you have. The value is tangible. A rental income property gives you consistent cash flow. Owning a rental property fulfils your dream of building wealth and meeting all your financial goals. Invest in rental income property today and reap the fruits in years to come. Meanwhile, the location of that property must command a high rental value. Middlechase properties are located in areas that command the attention of high rental demand.
