Hello…! I recently acquired some land and I’m looking for suggestions on how to generate income from it. It’s located in a rural area with good natural resources and scenic views. Any ideas on profitable ventures or investments I could explore?
If you plan on building on it in the future, I’d dig a well/septic, and throw a mobile home on it. This should likely cover the monthly payment on the land. You might not make much above and beyond it, but you should break even. Then, once you decide to construct, you can remove the mobile home and your well and septic are already in place.
You can also rent the property to livestock or horses.
Check out YouTube for ‘land hacking.’ It’s about creating glamping sites or converting barns into wedding venues. I saw this one where a woman added exotic animals like zebras to qualify for Agricultural Tourism permits. She’s pulling in around $50,000 a month with just 10 fancy tents rented at $100 a night (that’s the first $25,000), plus another $25,000 from hosting weddings and events in a barn.
Logging is a continuous process. Sure, you can cut things all the way out and take home a huge payoff, but there are also long-term options. Or so I’ve read, anyway. I’ve never really done this before. But it can be done over several years, depending on what you plant and how you record. Establishing a neat, well-organized group of trees was one way. Then come through year and reduce the size of the group. The trees that are already there can get bigger thanks to pruning. Thus, you log fewer trees annually, but the larger the tree, the more valuable it becomes. You could just grow marijuana, too.