The starting point for almost any homesteader is land ownership.
It’s key to being able to grow crops and live off-grid.
However, raw land can also be an opportunity to make money and create income.
Especially if you are living on a rural homestead far from traditional employment centers, using a few tracts of vacant land for commercial purposes is a great way to support yourself.
Below are a few examples of how vacant land can make you money to get your brainstorming.
1. Land Investing
Investing in raw land is a sold way to generate a substantial income stream.
Generally speaking, land investors flip land by buying it at affordable prices and selling it within the year.
If you are an expert in raw land, this investment model can be very profitable!
Plus, even if you can’t sell the land, you will still have it as an asset to be used for other purposes.
2. Build a Fishing Pond
If you are in the right climate, buying a parcel of land specifically to build a fishing pond has two benefits:
3. Build a Touring Business
Many people travel to more rural areas in order to engage in adventure sports such as dirt biking, ATVing or snowmobiling.
With a large parcel of land, you can create some trails specifically for these sports and charge out-of-towners to use the property.
You could even buy or lease some additional vehicles and charge for their use as well as provide tours yourself.
4. Invest in Alternative Energy
As a homesteader, you may already be using alternative energy to produce the energy that you need for your daily life.
In many areas, this is a highly profitable use of vacant land. Not to mention all of the tax benefits that come with investing in alternative energy. Should you decide to embark down this path, perhaps you should consider filing your taxes with a CPA to ensure that you’re taking advantage of every tax benefit available to you.
5. Create an Airbnb Camping Business
Many folks are leveraging Airbnb to create a side income stream.
If you are living within a few hours of a major city, you will likely find no shortage of people looking for an escape.
Build a few camping spots on your land to take advantage of this.
You could even construct a few cabins to increase your nightly rate.
6. Farm the Land
As a homesteader, you are probably already growing crops to support your needs.
However, you can always buy more land to increase your crop volume.
You can use this additional produce to start a side business selling fresh vegetables to your local farmer’s market.
7. Grow Specialty Crops
Growing food is not the only option if you have additional land to cultivate.
There are many land owners who produce a nice profit selling specialty crops.
Some examples include flowers, herbs, Christmas trees, ornamental shrubs, etc.
8. Sell with Owner Financing
Circling back to Option 1, one of the best ways to build an income stream from vacant land is to buy and sell land.
And one of the easiest ways to do this is through owner financing.
In this model, you allow the buyer to pay for the land over a number or months, if not years, in order to generate a monthly income stream.
Just make sure you are able to find affordable land!
These are just a few ideas.
There are a number of other ways you can make money from raw land.
Just be sure you follow all local zoning and building regulations before making any changes to your property.
Author: Erika Benson, Co-founder at Gokce Capital
I am an architect by training and a former Affordable Housing Director for the City of New York turned full-time Land Investor. I used to help New Yorkers find affordable housing, now I help people around the US find affordable land!
I keep an active blog on my company website where I give advice on buying and selling land. I also have a YouTube channel with over 250 videos that provide tips for land buyers and information on our properties. Please check out my website to see more information on how you can sell your land.