There's something about owning land that feels different from other commercial property forms. It gives people a sense of comfort, connection, and security.
Land is the foundation of commerce, development, and progress. There are various methods for making money from land, and each owner has preferences. And Florida, the Sunshine State, is full of land – 53,525 square miles to be exact – and therefore ample opportunities to make the most of it. In fact, despite increasing competition, land listings in Florida are still plenteous.
Searching for land is just the start, though. Once you've found it, making the land profitable should be a primary focus. It's not uncommon for people to think they need to sell their land again for a profit to make money from it. But there are many ways you can use your land to generate income without selling it.
Here are five income-generating ideas for you to consider for your Florida land.
Some people still need to be convinced to install a cellular tower on their property. Still, the good news is that there are many options for leasing your land to a telecommunications company.
The installation process may vary depending on which type of cell phone towers you're installing, how much cellular service you want to provide, and where you would prefer to place them.
Once you decide to lease a piece of your land to a wireless network, you'll need to sign a contract. After signing the agreement, the company will require your permission to enter and build on your property.
You may or may not have to give up some of the ownership of the land, but you'll retain full control over the construction as it's completed. The monthly payments you earn will be based on usage.
There are two ways to make money off of your land from solar energy if you own a considerable amount.
The first method is to do it yourself: set up some solar panels, harvest the solar energy, sell the power it generates, and earn an income that way. Keep in mind that this method involves a lot of initial investment upfront and on top of the price of the land, though, and it may be a bit of time until you start earning.
The other comparatively cheap way to get started is by leasing the property to large regional solar developers. They're always looking for vacant lands to develop. It would be best if you did some research into the area's market, being sure to lease to the highest bidders.
Make sure to thoroughly research any company before signing an agreement with them. Poorly run companies often don't pay their bills on schedule.
Aside from that, when you lease your property for solar power generation, you should be aware that it usually takes around five to six years to develop, so it will be some time before the project starts making profits. Know you'll be renting out your property for an extended period.
A recent survey by GoRVing.com found that nearly 12 million American households own RVs, up by 26% compared to 2011. Florida makes a great spot for RV travelers, with its endless sunshine, beaches, and marine and wildlife.
Building an RV park on your existing property is easy if it's large enough. And it's nice because you can choose whatever amenities you want. For example, ensure you have enough electrical outlets for everyone because most RVers prefer to hook up their vehicles instead of boondock.
It can be tricky to lease out your property to multiple tenants, but if you have enough land, anything is possible! Multi-tenancy means various sources of income and a hedge against uncertainty.
If one tenant suddenly falls behind, then the income from the other tenants can usually be enough to carry you through until you have a chance to resolve the issue with the problem tenant.
With approximately 385,000 horses in the state, the Sunshine State ranks as the #3 largest equine state in the US, according to the Florida State Department of Agriculture and Consumer Service.
Horse owners want to ensure they provide the best care for their beloved animals, including where they keep them. Fortunately for you, most cannot have horses live on their property, so many are already used to storing their horses somewhere else, like a stable.
Stabling horses can require a lot of space, but if you own the right kind of property, it can be an excellent source of recurring income. And if equine enthusiasts and owners think their horse enjoys staying at your stable, they're likely to board their hoses long term.
These five revenue-generating suggestions are just a starting point. The best way to turn land into something valuable is by listening to and looking for the local community's needs. By connecting people to solutions, you’ll be able to find the perfect opportunity to turn a profit using your land.
So no matter if you're looking for the perfect property for sale near Apopka or if you already own some land in Florida, know there is abundant opportunity to make a bit of money from it.