Have you inherited raw land, and you don’t know how to make money out of it? Or are you considering investing in undeveloped land?
Raw or undeveloped land is a valuable property, and many people are looking at the potential of raw land as an excellent investment for retirement. One thing that entices people to invest in this land type is its low maintenance.
Also, there are several options on how to do with raw land to make money out of it.
Here are some ways on how to make the most profit out of raw, undeveloped land.
1. Sell Your Land
Selling an undeveloped land property can be an excellent money-maker. However, you have to know how to look for a willing land buyer. Recognize the fact that the land market and housing market are not the same, and the buyers in both markets have different needs and preferences.
Learn how to market your land in a way that can reach more potential buyers. Use social media and online listing sites when advertising your property. When listing your land, make sure to make a proper description, attach all the necessary information, and include photos of the land.
Since many buyers are now using the internet when looking for land, it’s wise that you should list your property online. Online land buyers are also ready to pay cash for land if they see that the property is good for them.
2. Start an RV Storage Lot
Using your land as an RV storage lot can provide you with a significant income. Owners of pop-up campers, caravans, motorhomes, and fifth-wheel trainers who don’t have storage space for their RVs can rent your land for that purpose.
Create a marketing plan that can help you reach out to potential customers. Then, know what business permits and licenses are required to run this business.
3. Consider a Campground
Another way to make a profit out of your raw land is to turn it into a campground. Owning a campground allows you to be your own boss. But before you embark on this business, make sure to determine the viability of your land as a campground.
You also need to know beforehand that success in this business is the result of proper management and hard work. Weigh in the advantages and disadvantages of managing a campground before starting and investing money in it.
4. Invest in Solar Energy
Not only that you can generate profits, but you can also help the environment when you turn your raw land into a solar farm. Today, many solar energy projects are on the plans of solar developers. When you own raw land, you can lease it out to a solar developer.
Make sure that your property meets the requirements of becoming a solar farm. Typically, a 1mW solar farm requires a minimum of 4 acres of land. It’s also crucial that the land has full access to sunlight and close to high-voltage transmission lines.
5. Plant Flowers to Sell at a Farmer’s Market
Another idea to make money out of your raw land is to grow flowers in it and sell them at a farmer’s market. The best flowers to plant in your raw land are ornamental and cut flowers because they easily grow and provide you an excellent income. Many people purchase flowers to beautify their house or as gifts to their loved ones.
According to experienced growers, the best flower varieties to grow and sell are larkspur, scabiosa, peony, snapdragon, yarrow, sunflowers, roses, ageratum, etc.
6. Create a Pet Sitting Business
Hiring someone to walk or take care of your pets while you’re away from them has become popular since the emergence of apps like Wag!
Owners of raw land can also provide this kind of service using their property. For instance, you can use your property to walk or care for the pets of others in exchange for service fees. If you want to start such a business, get the necessary permits, equipment, and other essentials for pet sitting.
7. Breed Animals to Sell
Breeding animals for profit is also an excellent business that can give you a good income. You can use your raw land to breed animals, such as rabbits, chickens, ducks, and hogs. Just make sure to get the necessary permit when starting this business. Also, don’t forget to meet the sanitary requirements when raising animals for profit.
8. Raise Worms for Bait
There’s a profitable market for raising earthworms. Fishers are buying worms as fish baits, and these small creatures are also being utilized to compost organic waste.
Earthworms reproduce rapidly when they’re in the right environment. So, you can imagine how much money you can get from this business.
There are many ways to make money from raw land. You can sell it as is, use it as a campground, rent it to RV owners. turn it into a solar farm, grow flowers in it, breed animals in it, and many more.