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Tips on Generating Multiple Incomes From Your Property

This article was originally posted as a guest post on LANDTHINK‘s blog.  

“Buy land, they aren’t making anymore.” Mark Twain’s quote isn’t just hilarious, it’s true. Land is a limited resource. People get so caught up in trendy stocks that they sometimes forget the fundamental value of land.

What makes land such a unique investment is that you can use it to generate multiple streams of income. Before you read on, take a look around your neighborhood. Are there already seven other U-Pick operations in your area? Do all your neighbors grow and harvest the same type of timber at the same time? If lots of other landowners are doing it in your area, you might want to explore other options.

Having multiple streams of income is all about out-of-the-box thinking.  Here are just a few ways you can make more money off of your land.

Agritourism 
Agritourism can be a great way to make a little extra money on the side. Agritourism is any sort of activity that brings tourists to your land, and the opportunities are endless! Each land type offers its own unique range of ways to make extra money.

  • If you own an apple orchard or grow sunflowers, consider U-Pick or hosting different fall events. These could include hay rides, festivals, or selling fall treats like cider and pumpkin pie.
  • Ranchland? Consider horseback riding or boarding horses.
  • If you own a vineyard, you could do tours or host samplings. Maybe you could pair different wines with cheese or fresh fruit from your land!
  • Farmland? Host a corn maze or pumpkin patch activities in the Fall to attract visitors.

Air B+B/Rent Out Land For Campers
You might not view your land as the ultimate romantic destination, but other people might. The rental industry is booming, and there are tons of people looking for a country getaway. Websites like Airbnb.com allow you to list your guest room or cottage for the price of your choice.

If you don’t want people in your home, you could also rent out your land to campers. Camping can be profitable as long as you’re okay with a little wear and tear from people sleeping and eating on your land. One investment we’d suggest if you go this route? A Porta-Potty.

Lease Out Unused Land
You can lease your land to farmers who need extra land. This is especially helpful if your soil type is good for what farmers grow in your area. While this can be profitable, leases can get tricky very quickly. You’ll want to work with a land consultant to make sure you are getting the best possible deal for your land.

Host Events
The average couple spends thousands on a wedding venue, and rural and country weddings are a current trend. If you have a picturesque property or rustic barn, you can host a variety of events on your land to bring in extra income.

Make Energy
Renewable energy is a great idea if you don’t mind a few eyesores, like overhead power lines or turbines. Harvesting wind or solar energy on your land can make some extra money. You can either sell the power or use it for yourself to slash your energy bills (the latter more applies to solar energy). While this can be a great way to generate multiple incomes, having energy on your land could limit what you can do on that part of the property. Make sure you know all the benefits and drawbacks before making a decision on this one.

If you are interested in learning more about whether or not solar power is right for your property, don’t miss the REALTORS® Land Institute’s September 2018 Hot Topic Webinar on Solar Panels: A Good Idea for Your Land?

These ideas are just the tip of the iceberg. There are hundreds of ways to generate multiple incomes from your property. We hope this article inspired you to find one perfect for your land!

About the Author: Laura Barker is the Membership and Communications Specialist for the REALTORS® Land Institute. She graduated from Clark University in May 2017 and has been with RLI since October 2017.

Gaining Community Support for Land Use Projects

Working on large land use projects can have many upsides. You get to work with big name clients and, many times, the job comes with a bigger paycheck. However, working on large land use projects can also have its drawbacks. These projects tend to attract controversy and resentment from the surrounding community; and community resistance can slow down construction, and in some extreme cases, can even shutdown projects entirely. If you want to gain community support for your land use project, good communication and planning will be your secret weapons.

Communities have rallied against land use projects since real estate agents, developers, companies, and governments started proposing them. Knowing how to handle opposition is becoming increasingly important, especially in areas where land is both highly valued and extremely limited such as New York or California. Small towns have also had to struggle with choosing between new land projects and historical or well-loved buildings. No matter where you are in America, you can use these tips to gain community support for your land use project.

Create A Website

When people Google your project, the first thing they should see is your website not an angry blog post about your project. For this reason, it is important to start building SEO as early as possible. Lay out the need-to-know facts about the project and be sure to include some positive things the community will get from your project. Will the project bring more jobs to the area? Will it increase foot traffic, bringing more customers to local stores and restaurants? Brainstorm ways the community will benefit and lay them out on the website.

Listen To The Community

Organizing a small meeting where members of the community can voice their concerns allows you to understand where the opposition stems from. In many cases, most of the anger from locals comes from feeling like their voices are not being heard. Seeing you make an effort to understand their concerns can do wonders for your project’s public image. The other benefit is that the community will be able to hear the facts directly from you. You’ll be able to correct any misinformation or rumors.

Some public affairs firms, such as GCA Strategies, warn against huge town-hall style meetings. According to their article, the company believes that “large audiences usually have too many issues to address in depth, and time is typically so constrained that people become frustrated because they cannot fully express their fears or concerns.” Consider having limited-seating, smaller meetings to make sure everyone feels their voice is heard. Think focus group instead of free-for-all.

Another option is making an appearance on local podcasts, radio shows, or news programs to talk about your land project.  This way, you can still get your message out to locals while having total control of the situation.

Keep A Cool Head

Staying calm in the face of conflict is the single most important factor in gaining community support. With social media at our fingertips at all times, it’s easier than ever to share your thoughts with the whole world. In times of stress, it can be tempting to vent your frustrations on Facebook, but this can have huge drawbacks if the wrong person sees it. Remember, anything you say reflects not only on you as a professional, but also on the land use project you are trying to get approved.

Social media slips happen to the best of us. A good way to prevent them is to follow SPACE guidelines:

S – Stop: Type it, but don’t post.
P – Pause: Wait an hour before posting. Ideally, sleep on it.
A – Assess: Ask yourself about your intentions behind the post.
C – Confirm: Ask a close friend who isn’t involved with the project their thoughts on the post and if they think it might cause trouble.
E – Execute: Send the post only if it passed the other steps.

Gaining community support for land use projects isn’t always easy. Social media and misinformation can spread like wildfire and be difficult to contain. However, if you approach the situation with a cool head and make it clear upfront the ways the community can benefit from your project, you can overcome even the greatest of hurtles.

This article was originally posted on Landthink.com.