Business

9 Ways to Build a Business Off of Vacant Land

Vacant Land

“This is delicious,” I exclaimed to our hosts.

We were eating a spectacular three course meal made from produce grown on their 5-acre farm.

The couple were our age and, while we had been busy running the rat race in New York City, they had bought a parcel of land and built a farm.

Now they grow enough food for themselves and also make a nice profit selling the rest to a farmer’s market.

They also have a thriving Airbnb business with plenty of happy customers.

And it all started with a parcel of vacant land!

Something for Everyone

I love this story because it highlights why I am so passionate about vacant land.

It is flexible enough to accommodate any dream!

If you are creative, you can use a parcel of raw land to help with any number of business ideas.

Below are some ways to make your land work for you.

  1. Sell for Profit 

Do you have the real estate bug?

Land investing can be a great small business idea.

You can start by selling the parcel of vacant land you already own and then repeat the process.

Once you learn how to buy at the right price, this business can be profitable!

  1. Build a Fishing Hole

Is fishing your passion?

With a parcel of vacant land, you can build your own fishing pond.

Get a large enough parcel and you can build a pond or lake that could serve multiple clients.

You can then turn your pond into a business by adding amenities and charging a daily rate to other fishing hobbyists.

  1. Create a Nature Club

Perhaps you bought your property because you love nature.

Do you want to share your new sanctuary with others?

You can set up some pleasant trails around the park and open it to members.

Charge them a small fee and you can also create an income stream to help you maintain the property.

  1. Build a Touring Business 

Do you love to spend the weekend off-roading, biking or having adventures?

If you are an expert at dirt biking, ATVing or snowmobiling, you must love being a property owner!

With a large parcel of land, you can build a business offering tours of your land on your vehicle of choice.

  1. Invest in Alternative Energy

Are you looking for a way to help the planet?

Or maybe you just want a great investment opportunity.

If you have a lot in a sunny part of the US, you can lease your land to a renewable energy company.

In many areas, this is a highly profitable use of vacant land.

  1. Create an Airbnb Glamping Business

Airbnb is a major buzzword in the real estate world right now.

And owners of vacant land can take advantage of the platform as well.

Set up a glamping spot on your lot and rent it out on Airbnb.

You’ll find lots of people who want to escape the city for a weekend.

  1. Farm the Land

Like the couple we met, if your dream is to escape the big city and live off the land, you can put your lot to productive use.

Sell your produce at a farmer’s market and you have a small business going!

You can also use the land to meet your family’s daily food needs as well.

  1. Create an Event Space

Many people are looking for a beautiful rustic spot for their weddings or events.

Think about what kind of events you are passionate about and set up the necessary amenities on your lot.

You can then rent the land out for events and build up a nice side business.

  1. Sell with Owner Financing

Maybe you’re not looking for a side business, but rather a passive income stream.

You can buy land and sell it through owner financing.

In this model, you get a steady monthly income

Just make sure you are able to find cheap land!

This Is Only the Beginning

This is only the beginning!

For nearly every hobby out there, it is possible to use a parcel of land to build an income stream off of that passion.

Just be sure you follow all local zoning and building regulations before making any changes to your land.

 

Author: Erika Benson, Co-founder at Gokce Capital

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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.

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