Land and how to make it pay for itself

[Colt Price]

Hi BP! I have a little bit of a choice personal problem. I grew up in a remote part of TX surrounded by acres and acres of land. It's been cut up, sold off and dispersed through the generations but our little piece is still where I like to call home. There are some houses around that I would like to get a hold of one day though it may be hard with as expensive as everything is getting. But there is also just some raw land available now and probably more will come available. With a little bit of investing, rentals and knowledge under my belt I may be able to do something with the surrounding houses one day but how can I make the land pay for itself? There is 10 acres of raw land for sale close by right now and I would love to own it, just to have it, control it, do what I want with it and pass it down to the family. It's expensive and I'm not a rich man. I know I'm probably swinging for the fences but How can I buy it and make it pay for itself? Any land gurus out there? Thanks in advance!

[Michael J.]

Here are some ideas to make raw land pay for itself:

1. RV or Tiny Home Rentals: Set up RV hookups or tiny homes for short-term rentals. With platforms like Airbnb or Hipcamp, you can attract travelers looking for unique stays. You could even offer glamping (luxury camping) to make it more attractive.
2. Agriculture Leasing: Lease the land to local farmers or ranchers. Even small-scale operations like beekeeping, organic farming, or growing specialty crops (e.g., lavender, hemp, etc.) can generate income.
3. Hunting Leases: If the land has good wildlife, you could lease it to hunters during the appropriate seasons. Hunting leases are a popular way to generate steady income, especially in rural areas.
4. Solar or Wind Leasing: If your land is in an area with good sunlight or wind, companies might be interested in leasing it to install solar panels or wind turbines. You can also look into community solar projects if you're not ready to commit to a full commercial lease.
5. Timber Harvesting: If there are trees on the land, selectively harvesting timber could generate income. Make sure to work with a forestry professional to ensure sustainable harvesting practices.
6. Rent it for Storage or Equipment: With the rise of RVs, boats, and large equipment, you can rent out part of the land as storage space for these vehicles. A low-cost investment in fencing or a gravel driveway could make the land attractive for outdoor storage.
7. Recreational Use: Open the land for recreational activities like ATV riding, horseback riding, or camping. You could charge access fees or offer day passes for off-road adventures.
8. Lease for Cell Towers: If the location is right, telecommunications companies might be interested in leasing a small portion of your land to install a cell tower.
   
9. Event Space: If you can make it picturesque or add basic amenities, the land could be rented out for events such as weddings, retreats, or festivals. Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.
10. Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce. Combining this with tours or small events can add extra income.
11. Lease Mineral or Water Rights: Depending on the area, leasing mineral or water rights can be a potential income stream if there are valuable natural resources under the land.