Starting up a business usually is about good capitals. But if you have a piece of land in your possession and want to make it work for you? a Vacant land can become an income producing asset. Land is valuable, and while land may be most valuable when a structure is built on it, this doesn’t mean it can start producing income for you now.
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1. Solar energy.
If you have the money to install solar panels or want to rent the land out to a company that wants to install solar panels on your land, this can be a very lucrative option for you. The goal is to work with energy providers or companies that want to purchase the solar energy you produce.
If your land is located near a high traffic area, you can also place a billboard on your property and rent it out. Businesses will pay good money every month to rent the space.
3. Event rentals
A land plot in a popular location can be easily turned into a hot event spot for festivals, conventions, and corporate events. It’s best to find one or more event companies who will use your land for multiple events during the year so that your plot continuously makes money.
4. Private Park or Club
You can turn your land into a private park or club, RV or trailer park. The latter does come with a large upfront cost, but you’ll be renting out your park with monthly income guaranteed from renters. You can then take these funds and flip them into a new property to build up your real estate portfolio.
5. Livestock Farming
There are so many types of livestock you can breed on a single land plot and it doesn’t even have to be a large plot. From snails to pigs – there is the perfect kind of livestock for every size and specialty of a land plot, so you can grow your agricultural business quickly and efficiently.
6. Farm leasing
If you have a decent amount of land, farmers will also want to use your land for farming. These farmers will take care of all the upkeep and work, but they need your land to make money. You can sign multi-year agreements and have a secure source of income for years to come.
7. Camping Ground
To turn your piece of land into a camping ground, you need to mind the location and other conditions. If it’s located near the woods or the water and has a nice view and clean air, you can allow people to camp there in tents or bring their RVs to your camping ground for an entrance fee.
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