The only thing they can’t make more of is land, and if you just happen to own some you could be sitting on a potential goldmine. Around 60% of US land is privately owned and owning land can make you an excellent second income and apart from the obvious usage for building homes or expanding your existing property, there’s a multitude of things you could do with your own private land.
With the Covid-19 pandemic still hanging around then, some uses of your land might be temporarily limited to activities with small groups of people, if allowed at all, but infection rates are dropping, however, your land could be used for something completely passive as well.
Some of the best methods of making money from your land could include:
- Lease to a company
- Farming, hunting, or fishing
If you don’t want to be involved in anything but simply want to get paid then you could lease the land to a third party for whatever they need to do while camping activities or farming will open it up to the public.
Lease to a Company
Whether you are busy with a career, keeping a home, or just don’t want to be involved, making money from land that you own can be a very easy endeavor indeed. One of the easiest ways to use it for income is to simply lease the land to a third party for their use in whatever business they operate.
Depending on the size of the land and any geographical constraints, what the land can be used for will vary greatly, but one of the most common uses of land in the 21st century is to expand cell phone coverage. Verizon cell tower lease rates vary depending on what the company needs to do but they can provide very generous passive income.
As the 5G network expands Verizon is adding to their 2,000 cell towers and 4,200 rooftop antennas across the United States. However, to negotiate a contract with a third party such as Verizon you will need a specialized lawyer to make sure you get a fair deal and some landowners have seen a rent increase in excess of 300%.
Farming, Hunting, or Fishing
Most empty land is used for farming and should your land exceed 250 acres it is perfect for starting a farm. However, the hard work involved in farming means that you probably won’t be able to generate passive income and instead might have to become a farmer yourself. Pasture land is the easiest since animals are left free to roam, but for serious money, you will have to grow something, however, some people have found success with 2-acre micro-farms.
Even today, hunting is still a popular sport and in the US alone there are approximately 15 million regular hunters that hunt game such as deer, rabbits, and woodland birds. Only around 12 acres of land is needed for a deer hunting range, although this would be very small, however, it could be populated with other smaller animals used for cooking or crafts. Hunting rights can be leased for passive income so you won’t need to do much to make money from the land.
Additionally, should your land happen to contain a freshwater river or something similar you could charge people to fish the waters. Fishing can be fun for all ages, all levels, and at any time of the year, and as such fishing is an extremely popular hobby and a classic pastime in many countries, with over 100 million active and regular fishing hobbyists in America. Both hunting and fishing come with strict licenses and regulations however so legal advice should be attained before going ahead with any plans.
