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You have a parcel. Perhaps it’s a small plot, or maybe it’s hundreds of acres. Whatever the size, you suspect this piece of land could put money in your pocket—but you’re wondering how to make money off of land.
From leasing to farming, there are many ways to monetize your property. If you’re wondering how to make land pay for itself, here are some of the best options for 2023.
Gather solar energy
With the growth in renewables in recent years, sustainable solutions are on the rise. More people are opting for solar energy systems. Your land could allow you to get into this market by providing space for solar panels.
This may require significant investment, but it can turn a significant profit, too. Turning your property into a solar energy producer could be a valuable venture.
Build horse stables
Many people who own horses (or want to), don’t have a stable of their own. If you have the space for horse stables and pastures, you can offer boarding.
Options include total care, which requires employees to manage the stables, or you can offer self-care, which involves supplying the space but requiring owners to handle their own horse care.
If your land can support the growth of a variety of flowers, this can be a profitable way for how to make money off of land. You can sell your floral goods to locals, florists, and even large-scale companies to reach regional or national markets.
A good companion money-maker to this option is bee hosting. Rent out your land to beekeepers, or raise your own bees. You can collect lease money or generate a profit from honey sales.
Greenhouses can provide a lucrative business as rental space. Build some greenhouses on your property and lease them to various individuals or businesses to grow their products.
Rotate the types of plants in your greenhouses to increase profits. With the right rotations, you can keep your greenhouses profitable year-round.
Host an event
Music festivals, rallies, carnivals, and other large events need space. You can provide the land they need. This can generate quick profits from single-use or week-long festivals.
An added bonus with this type of land use is lack of long-term commitment. You can use your land for events, then change its use to something else fairly easily, since little development is required.
Attract advertisers to your land with an inviting billboard. Construct one to lease, or rent the space for someone else to build one. If you have a prime location with great visibility, this can be a lucrative option for how to make money off of land.
Another spin on the billboard route is to use it to promote your own business or ventures. If you have other investments, use your land to host a billboard that advertises them.
Lease to farmers
Do you have a lot of land? Is the soil good for crops? A good option might be to lease the land to large scale farmers via a service like FarmFundr.
In many cases, you can make arrangements for a long-term lease to a farmer that will be using your land as their primary income stream. This can provide a stable, reliable approach if you’re wondering how to make money off of land.
Lease to hunters
Is your land home to wild game? You may want to consider allowing hunters to hunt on your land. This can be done in a variety of ways.
For example, you could build a cabin on the land that hunters could rent for weekend trips. Or, you can add other features such as tree stands to make your land more inviting to hunters.
Community gardens are popular in certain areas. If there are apartments nearby or other housing without a lot of private land, you may be able to attract residents to lease garden plots on your property.
This option allows you to divide your land into multiple garden plots. By leasing each one, you could turn a decent profit.
Lumber can be lucrative. Your profit from this venture will depend on what types of trees are growing on your property and their age. If you have mature trees, harvesting the lumber could be very profitable.
However, before you call in the lumberjacks, be sure to check with your local Department of Conservation. Ask about any regulations for harvesting and selling timber in your area.
Invest in farmland
Finding a place to store large equipment is often a challenge. If your land offers an indoor storage option, you may be able to attract owners of farm machinery, RVs, boats, and other vehicles. In some cases, they may not even require a shelter, but simply space to accommodate their equipment.
Keep in mind that this involves storing valuables on your land. You will need to obtain the proper insurance for this before you dive into this storage business.
Open a campground
Are there outdoor attractions near your land? A campground might provide an inviting place for families or weekend warriors. Of course, this involves management of the campground, which would require investment of time and money.
You’ll also need to ensure the area has access to water and has a toilet system in place. You may also want to add other amenities to attract campers to your site.
Cattle and goats both offer money-making products. If you don’t mind the work of caring for the animals, selling milk and cheese can be a profitable use of your land.
Another option is to lease your land to livestock owners. In this scenario, you don’t have to care for the animals or sell the products. You make money whether the livestock owner does or not.
Of course, there’s always this option. If you’re wondering how to make land pay for itself, simply sell it for more than you paid for it.
This can be an especially appealing option if you inherit land that you don’t need or don’t have interest in developing. Rather than pay taxes each year for the land or try to figure out how to use it, sell it and use the money for a different investment.
Now that you know how to make land pay for itself…
As you can see, there are myriad possibilities when it comes to how to make money off of land. Consider your priorities and goals to determine if any of these options align with what is most important to you. Then, start by taking just one step toward tapping the full potential of this diverse asset.