Real estate investment is one of the ways to make money. It might not seem like much when all you have is vacant land. But, if the vacant land is 100 acres, it has some potential. So, how do you make money on 100 acres of land?
If you own a hundred acres of land, there are several things you can use it for. It could be capital intensive or not. They include farming on it, selling portions of the land, renting it for festivals or mobile homes, leasing the land, starting a shooting range, and providing storage facilities.
Since 100 acres is a significant landmass, you can use the land for several purposes depending on the location, resources on the land, and what you’re willing to invest. Here, we discuss how to make money on 100 acres of land.
How to Make Money Off Your Land?
Vacant land is valuable, and when you have up to 100 acres, there are limitless opportunities for how you can make it profitable. Here are some of the ways to make money off 100 acres:
1. Farm On It
Turning it into farmland could be a great move if the land is fertile. One hundred acres is sufficient for large-scale farming, and you can make a lot of money depending on what crops you’re planting. Of course, it’s not only crop farming you can use it for. You can also use it for livestock farming. However, any farming you intend to use the land for would require heavy investment. Farming is capital intensive.
If you don’t have that kind of money, you can still make money from your land indirectly by renting it to those who’ll use it for farming. Depending on the location, fertility, and resources on the land, you can make hundreds of thousands on rental income annually.
If you’re planning to farm yourself, it’s better to plant multiple crops. You can even have mixed farming where you plant crops and keep livestock on the same land. The soil type will determine what you can plant on it. Of course, farming on 100 acres means starting a business.
2. Sell Portions Of The Land
If you have 100 acres, you could consider selling parts of it. This is likely the easiest way to make money off your land. But it means you don’t have recurring income from the land. That might not be in itself. Selling land will usually require you to use a real estate agent and may be an attorney. Although you might be able to conduct the sale yourself, it’ll generally involve some legal process that is best left to experts.
3. Offer Storage Facilities
If you have a large expanse of land, one of the ways to make money from it is to use it as a storage facility. There are many things that people want to store but don’t have the space for. This includes special vehicles such as boats and RVs. You’ll be surprised at the number of people who need a place to store this vehicle when they’re not using them.
In order to store any vehicle on your property, you’ll need to build storage facilities. That’ll likely cost you some money. You’ll also have to provide security for the things you store, and there are insurance concerns. So, you need to determine if there’s a market demand for storage facilities in the area. If there’s sufficient demand, you can use some portion of the land for storage facilities.
This lets you earn passive income on your land. Running a storage facility is a full-time business, so you may need to employ people. All you need to turn your land into a storage facility is a good location.
4. Rent The Land for Festivals
Fairs, carnivals, festivals, and several other events that pull big crowds usually need adequate space. Your land can be that space. Organizers are always looking for space, and your 100-acre vacant land could be that. Festivals and carnivals don’t usually require much to host on the land. Most times, you have to provide the land. The organizers usually take care of everything else. Thus, renting your land for festivals is very easy. However, you’re unlikely to make consistent income from this since festivals are seasonal.
5. Rent Your Land to Mobile and Tiny Homes
You can also rent your land to mobile homes. This has become a trend in recent times as more people embrace the concept of tiny homes. With a large expanse of land, you can become a landlord to several mobile homeowners. Of course, you’ll have to consider several things before doing this. There could be zoning codes you have to comply with within this case. You may also need to provide some utilities on the land before people move in. One of the things you might need to provide is electricity. Depending on your land location, you can take advantage of sustainable options such as solar or wind.
6. Start A Shooting Range
Another way to use your land is to start a commercial shooting range. Of course, you can only do this if it’s legal. So, you’ll need to check the rules and regulations on gun ranges in your state and municipality. It’s also important to have an interest in guns and expertise up to some level. Having a large expanse of land means you can opt for an outdoor range. You’ll need to do several things, such as erecting some structures, getting licenses, providing equipment, etc.
7. Lease The Land
You can also lease the land to developers who can build on it. In such lease agreements, the developers will usually own the structure on the land for some years, usually around 99 years or less. After that, the structure will become your own. Leasing the land this way allows it to be developed while you keep ownership and can transfer it to your heirs.
100 acres of land is a large expanse of land, and you can use it for several profitable ventures. The best thing about having 100 acres of land is that you can use it for multiple purposes. Just make sure every purpose is lawful.