Are you looking to make some extra income? Utilizing the land around you is the perfect way to do so! Owning land gives you many ways to make money from the property in KY, and you’re on the right page as your search for the perfect option for you and your property.
Lease
Renting or selling sections of your land can be lucrative. It can also be less labor-intensive than other ways. For example, you could rent your land out to other farmers for them to graze their cattle, goats, horses, or whatever livestock they have there. You can also lease the hunting rights. Or you can hold on to the land or develop it and sell it in the future.
Plant and Sell
Growing your food is key to your health and is a great way to provide your family with cheaper and healthier options. Additionally, these healthy options may be an intelligent way to make some extra income. Gardening has so much potential outside of just feeding your loved ones. Yes, you can use it to feed yourself and your livestock, but you could also sell the surplus produce and the seeds the following year.
If there is anything left over, use it for compost or sell that compost. Besides, you can sell flowers and other ornamental plants at the farmers’ market. You may even use your land as a vineyard for homemade wine or alcohol. You can also maximize your picturesque vegetable garden, flowers, and fruit trees as a tourist attraction for those who want to go out in the country for fresh air and picks.
Livestock and Byproducts
Raising animals on a farm or small plot of land is not new in rural areas. Raising and selling livestock is probably the number one way to earn a living out of this list. Cattle, goats, chickens, pigs, turkeys, beekeeping, and raising rabbits can have many uses and provide different income streams – milk, meat, cheese, manure for fertilizer, eggs, etc.
Services
Offer indoor or outdoor storage
Storage for boats, RVs and extra lawn equipment, garage, etc. – these types of scenarios are endless. Therefore, you can build storage facilities or utilize existing storage facilities to make money from raw land. Providing indoor storage can be profitable, and it will require very little maintenance from you.
Offer Bed and Breakfast
Have a beautiful piece of land? Maybe add a small storage building and turn it into a storage property. It’s easier than you might think to turn a property into a B&B. With the number of Kentucky’s tourist spots, the success of cozy rentals is not far off. People who love B&B’s would love being near nature. If your home is comfy and you don’t mind hosting the occasional stranger, this could be an excellent option for a steady income.
Create a Campground or Recreation Venue
Who doesn’t love camping? Create a campground with all the necessary resources, and you’ll have people flocking to your vacant land. A trendy way to make money from it is setting up a glamping tent, cabin, or trailer for guests looking for a more rugged Airbnb experience.
Rent Out Land for Festivals or Receptions
You can allow people to lease out your place for events or pictorials and receptions. There are many smaller, more local festivals that also need raw land, and you can have a good income from these.
These are but a few ways to make a profit. There’s so much more you can do to generate income with your land. Just make sure you research your options well before you start them up to not encounter terrible headaches in the process.