Make money with Vacant Land

Vacant land is a lucrative asset. It can easily turn into a passive income-producing asset without having to spend large amounts of money to build large-scale structures.

Before embarking on your entrepreneurial journey, if you own a vacant land or are looking into investing in raw land, you will want to look at the zoning restrictions and make sure you are complying with local regulations. We gathered 14 ways to make money with vacant land in three different sectors.

Read below, depending on which sector inspires you the most, how you can turn your vacant land into an investment vehicle. However, do not forget that making money with a vacant land depends on its location, what sources you have available, and how much capital you are willing to invest.

The Agriculture and Energy Sector

1. Collect and harvest timber. Natural timber can be as valuable as land. You can use it to build wood furniture and sell it at a higher price than timber alone.
2. Invest in sustainable energy. You can either install solar panels and wind turbines or lease the land to a company that wants to install renewable energy resources. The location of your land is an important factor to consider, before venturing on this project. Also, you can maximize your income if you convert your land into solar or turbine farms, and sell the energy produced.
3. Get into the agriculture business:
   • You can raise livestock and sell their products: cows for milk, goats for cheese, chicken for eggs, sheep for wool, etc.
   • On the other hand, you may either raise bees and sell their honey or rent out the vacant land to beekeepers searching for places to put their hives.
   • If you plan on raising bees, you can also get into the business of growing flowers, which can grow as your apiculture business grows and turns into a profitable business.
   • If you consider getting into the agri-business, then you can start your own farmer’s market to sell your own products to the locals. The growing trend of organic farming will attract many visitors and locals and turn your investment into a high-yielding profitable venture.

The Mining and Minerals Sector

Mining for mineral resources. The Canadian government’s channeling large sums of funds into the mining of critical minerals like Cobalt, Gold, Uranium, Zinc, Cobalt, Aluminum, etc. The increasing importance of the mining sector is associated with its large size along with the global technological trends shifting towards green technologies and clean energy. So, if your land has valuable minerals, you won the jackpot!

The Leisure Sector

1. Establish a shooting range. Or, lease the property for hunters – if it is legal.
2. Create a campsite or advertise it on Airbnb. People can pay you money to put up their tents and camp on your land.
3. Advertise the land for event rentals, festivals, or as a wedding venue. You can also equip the venue with the necessary facilities, including tents, tables, chairs, etc. Rewarding as this option may seem, it needs direct and close follow-up from you or a property manager.

The Real Estate Sector

1. Place a prefabricated house trailer on the lot. If you are still not looking into building your dream house and want to put the land to use, you can always place a prefabricated trailer.
2. Allow the local government to develop roads. If roads pass through your land, the government may be offering adequate compensation.
3. Invest in residential real estate. Real estate land will always be high in demand and low in supply. When you make some improvement to an undeveloped property – like leveling the land and clearing it to facilitate construction- you may be able to sell the lot at a higher price, after some time.
4. This brings us to ‘land flipping’. Which is, buying land at a low price and reselling it at a higher one to make profits.

The Rental Sector

1. Use the land to do some business. Your vacant land can be used as a storage facility. Depending on how much money you are planning to put into it, you can offer your land as an indoor or outdare storage. Always check the zoning regulations to see if your land is fit for commercial use. In addition, you can make money out of parking fees, use the land as RV storage and offer a competitive price in your area. You can also use the space to store any commodity, boats are profitable if you provide the appropriate conditions. Moreover, you can also use the land to start a car washing business. On the other hand, with a modest capital, you can turn your vacant land into a parking lot. For this, you will need to simply level your land and design it in a safe way for parking.
2. Rent out the space for advertising agencies to set up their billboards. Billboards take up little space. Along with other ventures you might take upon the land, billboards are a great passive income strategy.
3. Invest in residential real estate. Real estate land will always be high in demand and low in supply. When you make some improvement to an undeveloped property – like leveling the land and clearing it to facilitate construction- you may be able to sell the lot at a higher price, after some time.
4. Another option is to lease your land to a cell tower company. You may give them the rights to develop the property and occupy it during the lease period.

Conclusion

With the right resources and knowledge of local regulations, owning vacant land can be high yielding and rewarding. Get in contact with our agents to learn more about how you can start making money through our Zero Percent Financing Program and Group Investment Option.