- Hey guys, what's going on?
This is Seth from REtipster.com.
In this video, I'm gonna talk to you about
7 unconventional ways to make $1,000
per month from vacant land.
So, if you know anything about me,
you probably already know,
I'm a land investor by trade.
My whole strategy behind land investing
is to find vacant lots that are dirt cheap,
buy them for almost nothing
and then turn around and resell them for a profit.
And this is surprisingly not that difficult to do
if you know where to look.
Essentially, what we're doing
is we're getting very specific lists
of highly motivated sellers who own vacant land.
And we're reaching out to these people through direct mail
and really just making them very, very low offers
to buy their property.
And don't get me wrong,
a lot of people are not interested,
but all you need is a small percentage
of these people to say yes.
The nice thing about vacant land is that in most cases,
people do not have this deep emotional attachment
to the property because it's not the roof over their head,
it's not the roof over anybody else's head.
It's literally just a plot of dirt that nobody's using
and in their minds, nobody wants.
That's your opportunity to jump in there
and offer them cash in exchange for
relieving them of the burden of property ownership.
So, you're essentially giving them an easy button
to get this property out of their life.
It's really just a numbers game
and when you reach out to enough people to do this,
you might be surprised at how many amazing deals
you can get on vacant land.
And once you own a property, free and clear,
that you've paid almost nothing for,
it's not hard to turn around and sell that
either with seller financing or just an outright cash sale
that can generate far in excess of $1,000.
Another really creative way
to make over $1,000 a month from land,
is something that not a lot of people think about,
and that is through Airbnb.
And know with Airbnb,
it's not that difficult to list your property
for other people to pay you money for
and essentially rent from you, by the night.
And all you have to do is put
some kind of residence on the property.
This could be an RV, it could be a pop-up trailer,
it could be a tiny house.
Personally, I think the idea of tiny houses is really cool.
It's not just something that I'm kind of fascinated by.
But really, it's all about the novelty behind it.
And a lot of people out there, just think it's really cool,
to stay in this tiny little house
that's very thoughtfully designed.
Especially, if they're just staying there
for a night or two.
It's a pretty easy way to take the land you already have,
add this improvement to it,
which does not have to be affixed to the ground,
it can literally just be on wheels,
so you can take it on and take it off
the property whenever you want.
But as long as you have some kind of residence there,
people will literally pay you by the night
to stay in that property.
I think this works particularly well
if it's in the right season,
and if you're land is anywhere near a place of interest.
Whether it's by the water, a local attraction,
or a place where people will travel
from a long ways away to stay there.
You could make your land a very viable alternative
to a person staying in a boring old hotel.
This method of monetizing your land tends
to be rather seasonal because usually
there's certain times of the year when people
are more interested in this kind of vacation use.
But if you're in the right season
and if you've got an ideal location,
this can be a great way
to extract some monthly cash flow out of your property.
Another cool way to use your vacant lot,
and this is something
that doesn't even cross most people's minds,
is to convert your lot to a parking lot.
This kind of thing can work if your land
is anywhere within walking distance of a local attraction
that attracts lots and lots of people.
One example that comes to mind ...
A friend of mine owned a bunch of vacant lots
in inner-city Detroit, which at first glance,
you might think,
why in the world would anybody want to own land
in a place like that?
But it was within walking distance of Comerica Park
and Ford Field.
And it wasn't hard to make over $1,000 per night
from each one of these lots,
simply because people were looking for a place to park
that was within walking distance of these local attractions.
So if you can get any kind of a vacant lot
that's near a place of interest like that,
consider using it for parking.
You don't have to do anything to it.
You can just leave it as-is
and allow people to drive on and off the property.
Another idea that you could use your vacant lot for
is for self storage.
Say, if you've got a property that's more
than an acre or two in size
and obviously if your local zoning will allow for it,
you can allow people to park their outdoor storage
right on your property.
Whether that be RVs or boats or cars or anything
that doesn't necessarily need a roof over it's head,
they just need a place to park it.
That's a great way to monetize your property.
And again, what I love about this idea is
that you really don't have to do hardly anything.
I think in some cases it might make sense
to put up a fence around the property,
but even then, that's not a very difficult
or expensive thing to do,
especially if it can justify you making thousands per month
from those minor improvements to the property.
Something else that vacant land can be extremely useful for
is a place for a person to put their mobile home.
Similar to all the other uses we're talking about,
it's important that the property is actually zoned
for this purpose or you're not gonna be able to do it.
But, there's a lot of properties out there where
it's completely fine to go ahead
and park a mobile home there.
Typically when you do this,
you can either charge monthly rent to the person who owns
that mobile home,
or you can sell the thing outright to them
and in a lot of cases you can sell it with seller financing
and collect monthly payments
from the person who is buying it from you.
In either case, a lot of these properties
are more than enough to justify $1,000 or more per month,
if you get the right one and if you sell it at a price
that's gonna be able to monetize on that level.
If your property can be used with mobile homes,
definitely consider this as an option.
Another great hands-off method to make some serious money
with land is to lease your property out
to a local utility company.
And what I'm talking about here is things
like solar power and wind power.
And this kind of thing makes a lot more sense
in some parts of the world than in others.
I'm not gonna say that this is gonna be feasible everywhere.
But if you're in an area
that has very high wind velocity on a year-round basis,
or if you've got property
that has long-term exposure to sun year-round,
say if you're in Arizona or California
or something like that.
This can be an awesome way to either put those
energy generating devices on your property, or better yet,
find a utility company that's looking
for this kind of property
and let them lease the land from you.
That way, they will come on and do all the improvements,
they'll handle all the maintenance,
you don't have to do anything.
And they'll pay you a pretty hefty chunk of change
on an ongoing basis for leases that span a long time.
I know one person in particular who has a 50 year lease
with a cell phone company, of all things,
and that lease pays her over $21,000 a year
and its a very small portion of the property.
Again, she does nothing to it.
All they do is use the land for the purposes that they need
and she collects rent revenue from that.
It's a pretty cool setup.
Along those same lines,
another way you can use a vacant lot,
specifically if it's located anywhere near
a major stretch of highway or a busy road,
and if it's zoned commercial,
is to lease your land out to an outdoor advertising company.
This is basically just those big billboards you see
on the side of the road.
And again, you don't have to do anything.
They will come and construct the billboard on your property,
and they'll maintain it
and then pay you ongoing lease revenue for this.
And really all you're doing is you're allowing them to use
the dirt and the space that just happens to be
in a pretty desirable location for this specific purpose.
So, definitely if you've got a property that has
a lot of visibility from any kind of a major road,
this is something you should probably look into
if you're looking to make some ongoing,
easy revenue from your property.
Another really cool hands-off way
that you can monetize your land
is to lease it out to any kind of a farmer.
And this kind of a thing, again,
makes a lot more sense in some situations than others,
but we're talking like, pretty much any kind of farm.
Whether they're growing vegetables, or fruit,
or any kind of crops or even something like a tree farm
where they don't necessarily need a ton of land,
they just need fertile ground
where they can grow these trees
and come and harvest them each year.
This can be a great way to monetize your land in a way
that does not require a whole lot of hands-on work from you.
You can just collect the rent
and then somebody else can come on there
and do all the work.
You're just providing the space for them to do that.
And the nice thing about this one is
that it doesn't create any kind of a eyesore for
the surrounding area like a big tower or a billboard.
It's really just like, the natural resources
growing out of the ground.
Most people are not gonna have a problem with that.
So, if your land is located in an area where
the climate is ideal and the soil is fertile
and the property is big enough,
this can be a great way to monetize your property.
What I hope you're seeing through all these examples
is that land can be extremely versatile.
There's all kinds of ways that you can either monetize it,
or even use it for your own purposes,
if you're just looking for something that's kind of fun
and interesting to do.
All it takes is a little bit of creativity and inspiration
and just recognizing opportunities
that a lot of other people probably don't see.
But if you're aware of what you can do in your area,
given the zoning on your property
and what the local surroundings will allow,
land can be an amazing, outstanding investment
and just an awesome place to put your money.
Thanks a lot for watching.
Hope you found this interesting.
I'll catch ya later.
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