The majority of land investments that are made are typically to build personal residential units. This is because many people are unaware of the lucrative nature of such investments. It is generally believed that only people who are independently wealthy can afford to deal with ventures in land. This, however, is not necessarily true. Land investment can turn a great profit if used in the right way. Vacant land can serve a multitude of purposes, many of which can be quite profitable. Here are just some of the way that you can use unoccupied land:
There is always a demand for housing due to the rapid increase in population. This means that any vacant land that is suitable, is immediately an option to be used as a residential dwelling. This is especially true for urban areas. The majority of the U.S. population – over 82 percent – live in urban areas. There are also other options such as offices, health care centers, and even storage facilities. The demand for such structures continues to grow, therefore there are always organizations and entities that are willing to pay for the use of the land. An additional benefit of such building structures is that it requires very little involvement or maintenance on the part of the landowner.
As people have become more dependent on technology, their need for telecommunication facilities have grown. There are now more electronic devices being used in the United States than actual people. This means that there is a greater demand for cell services. Thus, land in certain locations may actually be perfect to be used to house cell towers. Wireless real estate companies such as TowerPoint Capital help landowners lease their land to cell tower companies or to other telecommunication firms. Depending upon the location of the property, the land may be quite valuable to certain wireless companies.
Land investment can also provide investment in the form of small farms. This can be in the form of vegetable gardens, vineyards, orchards, or even free range farms on a smaller scale. It is unadvisable to use your land for larger farming purposes. This is because the capital that is needed will far outweigh the profits that are made as an individual landowner. Instead, choosing smaller investments where smaller patches of land are used for agricultural purposes are more lucrative. The landowner has the option to choose to install the farming processes by themselves or simply rent out the land to other individuals. In the event that a more hands off approach is desired, it is best to simply outsource the agricultural work.
There are many ways that land can be used. As mentioned, one of the benefits to investing in land is that the rental options are essentially endless. There is little requirement for any actual interaction with the individuals or organizations renting or occupying the land. In this manner, there is very little effort to be made with such an investment. These are just some of the reasons why land investment is a simpler and more profitable venture than most.