1. Build a Spec House
During the current housing boom, demand for housing has skyrocketed. With vacant land, building single family houses, duplexes, or a multi-family dwelling could be the best use of your time and energy. Building can be an awesome option for the vast majority of circumstances; wether you plan to build a development of homes then sell to an end buyer, subdivide and sell lots, or just to build the house of your dreams. Building could quite possibly be the best option for anyone looking to purchase land to make a quick return on investment.
2. Recreation
Creating a wildlife preservation, hiking trails, and mountain biking trails are probably the easiest options for the land owner who doesn’t want to lease land and wants to keep it as natural as possible. To be more specific, turning your land into a wildlife preservation is the easiest option for anyone who loves nature because you don’t have do anything to your land. Nature will run its course and everything will return into its natural state. Other recreational options with minimal work/construction would be to create a personal hiking trail, mountain biking trails, or motocross race.
3. Wind/Solar Energy
Depending on the location and type of land, it might be ideal for wind and solar energy. Wind energy is a clean, renewable, and lucrative new form of energy. The use of which is only expected to increase in the coming years. In almost all of these cases a large piece of land is simply leased out by a power company. They will then place a wind turbine on the land, maintain the land around the turbine, and filter out power to all the surrounding areas. Solar energy companies are also looking for land to harness the power of the sun. Solar energy can be used to power everything from a city to a house. You can harness it yourself by purchasing solar panels and all the other equipment or you can also lease the land to a larger solar company and reap the benefits of having them take care of your land. But this is only the tip of the iceberg when it comes to leasing land for profit.
4. Lease to ranchers or local farmers owners
All crops and farm animals need places to live and grow. You will have the option to lease your land to the hardworking men and women who nurture the food on our tables. Its just a simple lease agreement away and all the owner would have to do is collect checks.
5. Donate your land for a tax write off
Donating your land could be a very real option when a business or a high income earner needs to shelter their income by using land as a tax write off. Land could be a simple way to lighten your tax burden in a couple years when you need it the most.