Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. While most people think of real estate in terms of owning buildings, a significant portion of it is also investing in land. Investing in land doesn’t just involve building homes, but other projects as well. The following contributed post is entitled, 4 Ways To Make Money By Investing In Land.
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If you want to secure your financial future, it’s vital that you invest your money wisely. Letting it sit in your savings account is a waste because your money could be working so much harder for you. Unfortunately, a lot of people do end up leaving their money in a savings account because they don’t know how best to invest it. They are worried about investing in stocks and shares because they think that it’s too risky, and they don’t know what else to do. But there are so many great investment opportunities out there to choose from. One of the best ones that often gets overlooked is land. Investing a piece of land is always a smart choice because there are so many different possibilities. These are just some of the ways that you could make money from investing in land.
Build A Property
Property is one of the most popular investments out there right now, and if you buy some land, you can get in on the act as well. The best thing about buying land is that you can build a property from scratch. You can maximize your returns on the property investment by saving money during the build and constructing the perfect property for the area. As long as you do some market research before and find out what kind of property is the most valuable, you should see some good returns.
Renting your land out for storage is a great way to make money without really doing anything. This can be a long term solution or you could just do it to make a little extra money while you decide what you want to do with the land. People will pay good money to store things like boats and other vehicles, and it doesn’t require any input on your end.
Cell Phone Towers
If you have a piece of land that is well situated for a cell phone tower, you could make yourself a lot of money. You can earn a good amount for cell tower leases, especially from the big providers. This is a great, long term income source that requires minimal effort from you. If you are looking for a way to boost your income for retirement, for example, this is a great choice.
A lot of farmers are converting their land into solar farms and getting rid of the crops and livestock because it’s more profitable. The use of renewable energy like solar is only going to increase in the coming years, so if you install solar panels on your land, you can make good money selling that electricity. It does take quite a lot of initial investment, but you will see a good return, so it is worth it.
Even if you don’t like any of these ideas, land is still a good investment because you can sell it on at a later date and make a profit on it. If you don’t know where to put your money, land is always a safe bet.