When people talk about real estate investment, their minds tend to wander into a world of house flipping, buying to let and investing – whether in the residential or commercial property markets. But there is another area of real estate that often gets overlooked, an area that possesses just the same – if not more – value than those routes we mentioned above, and that is vacant land.
You can pick it up for peanuts and you can make a ton off it. Of course, you can. You have something that no one is making any more of and that is a piece of earth. We live in a day and age where you can make your home your income, and you can do it with your vacant land too.
So, without further ado, here are some ideas to help you start turning your empty space into a money-making machine:
- Build Your Dream House
We had to put this at the top of the list because it is probably the dream you had envisaged when you first got your hands on it. However, that dream of yours could be closer to a reality then you realise, which is why we recommend you speak to a specialist in new construction homes and have them schedule a consultation. So long as you have a budget in mind, you will be able to get an idea of what your dream could look like.
- Start Feeling More Energised
There has been an undeniable move toward greener energies, which is why you should look at leasing your land to a local utility company. Wind and solar are big on peoples radars these days and that has translated into bucks for landowners. Of course, how much you make will all depend on where your land is and how much of it you have. There are local requirements to consider and lease terms to understand, but it is well worth investigating.
- Create A Gorgeous Campsites
So long as your land is in a nice place, secluded from the world and offers up the kind of vistas you could imagine Turner painting, you will be surprised at just how much you could make from renting it as camping space. You could start with tents only by advertising on Hip-camp and then work up toward having a full-time campsite for all. Just make sure you check with the local authorities about rules and regulations first.
- Its A Farmers Market
You have land, which is about the only thing farmers need. Sure, there is a rise in aeroponics, but land is still the number one commodity. Could be grazing ground for cattle, a ranch for horses, or agricultural farming they want. Your best bet is to decide what you want to do long-term and then lease out all or part of your plot accordingly.
- A Successful Storage Company
Self-storage and vehicle storage places have seen a surge in popularity over recent years, which means there is an opportunity for you to make some cash. For outdoor vehicle storage, you dont need much more than flat land close to a community. For a self-storage unit, all you need is some shipping containers, a fence around your plot and some security features that will give the customer peace of mind.