Investing In Raw Land For Extra Cash

One way of diversifying your investments is by investing in real estate. In particular, I want to speak to you about investing in small pieces of raw land.

This is a non-traditional way of investing in real estate as most people are just used to buying rental properties.

However, there are many benefits to buying raw land that may not seem obvious. Let’s discuss my three favorite ways of creating extra income with land investing.

1. New Construction Development

There are several ways you can go about doing this.

The first way is to buy the land and build homes or commercial spaces yourself. This requires you to take the risk of doing the construction yourself by hiring a general contractor to build you something that you can then sell for a profit.

The second way is to work with a designer to design your intended space how you want or see fit for your project. Then you can sell that design and the land to a developer who will take on the construction risk for you.

The third way is that you can buy vacant land and install the necessary utilities. This means you need to get in contact with the city and figure out how to bring water, sewer, and power to your land.

This makes it easier for developers and contractors to buy the land from you and start construction immediately on their development projects.

2. Gardening

One popular way of utilizing your raw land is gardening.

You simply divide your land into equal plots and lease it to people looking to have their own garden. This is nice since it's also a community project and you can get a lot of support from your neighbors.

You are basically providing an opportunity to people who want to grow their own vegetables but do not have a big backyard or live in apartments and simply need the space to even begin.

3. Airbnb

Another way to turn your piece of land into a money-printing machine is to rent it out on Airbnb or VRBO.

Unfortunately, this will be location-specific. But if you buy a piece of land in the woods, for instance, you can turn it into a campsite by buying a tent and setting it up with the necessary accessories and renting it out to avid campers.

You can also just rent out the land by itself and just have campers bring their own tents and do their own setup. This way, it requires fewer upfront costs.

Another way to go about this is to rent it out to RV road trippers. Again, this would work best based on the location of your land, but if you have a great view, then people would like to take rest stops at your land.

Conclusion

These are just a few ways of diversifying your portfolio with raw land investing. However, the opportunities are endless and it is up to you to get creative with any vacant land.

Vacant lands give you the opportunity to turn them into anything you want, and they are flexible enough to earn money with. You just have to get started.

Have a great week!

Muhamed

📖 Quote of the Week

If you want to be rich and successful, you'd better get comfortable with being uncomfortable.

From Secrets Of The Millionaire Mind, by T. Harv Eker