Most people purchase land for the opportunity to build their dream home. But true dreamers see beyond the typical four-walled dwelling. True dreamers have vision. If you’re an out-of-the-box visionary who really wants to see your money go the distance, then check out the Top 6 Ways to Make Money on Your Land Investment:
#1. Flip it
Let’s face it, sometimes to get a good deal on a piece of land, you have to settle for the DUFF. Good thing you see the potential beauty lying under that ugly façade. Flipping raw land is quicker and cheaper than any home remodel. Options include: putting in a road that leads to the property, clearing the land to make for easier building, surveying and marking the land, getting septic-approval or a well perked to advertise that water is available. Even turning a recreationally zoned property into a building site can help you get your investment ready to sell in no time.
#2. Turn Raw Land into Improved Land
When it comes to flipping land, bigger is better. Especially if you want to create a new subdivision. No, we’re not talking about a large-scale community. With a little paperwork and a proper site survey, a single investor can take a large piece of land and break it up into smaller parcels for single home builders. Have a 10-acre parcel? Split that baby up into five 2-acre parcels. You’ll nearly double your money and provide five other families with a space to call their own.
#3. Buy and Wait for the Value to Go Up
Love to play the waiting game? Then this is your time to shine! That’s right, when you buy vacant land, sometimes you don’t need to do anything to make money. Because land just sits there and behaves, while the rest of the market does the work. No tenants to deal with, no home improvements required. Whether you purchase a LandCentral Investor Pack or find your own private deal, investing in raw land may be the perfect way to park your cash and forget about it.
#4. Create a Campground
While you’re waiting for the market to go up, why not create a campground. Tents, RV’s or sleeping bags under the stars, offering up your land to campers is like your land paying you rent. This is especially ideal for properties that sit near natural tourist attractions like waterfalls or trail heads. Or maybe your plot is outside of a bigger city and you want to give the city dwellers a taste of the country. Is your land in UFO country? Offer it up to campers looking for an out of this world experience. The possibilities are endless. Just make sure to research the local and state ordinances and see if your land qualifies.
#5. Rent Out a Tiny Home or Vacation Home
Ah, the tiny home movement. With rising housing costs and Americans looking to downsize, these houses are in high demand. That’s where you and your vacant land come in. Throw up a tiny home and offer it up as a rental retreat. Depending on the lot size, at 65 – 400 sq. ft., you could set up a whole tiny village. Some local governments are even changing their zoning laws to accommodate this tiny movement. Tiny houses not your thing? There are tons of creative structures to set your rental apart.
#6. Rent or Lease Out the Property
Raw land may not look like much, but in reality, it’s teaming with life. Everything from mature forests to herds of elk, your land had squatters long before you purchased it. And that can mean big bucks to some outdoor enthusiasts. Renting or leasing your land to local farmers, hunters or a wildlife sanctuary is a win-win for everyone. Locals in the area get to use natural resources for a small fee and you get to cash in on letting your land do what it does best. Not sure you want to keep the entire forest? Thin out the trees and sell the timber. Just make sure you use these forestland resources to ensure you’re selling healthy lumber.
Ready to take the next step? First, find out What Kind of Investor Are You?