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O.K. so now you purchased that ideal piece of land that you always dreamed about. Perhaps you’re planning to build your retirement home there or maybe to take the family camping. Now what? The tax bills are going to start coming in and that could be a drain on your wallet. It’s not like rental property where you have an opportunity to generate some positive cash flow, or is it?

If you give it some thought and you are willing to be creative, there are many ways to generate income from vacant land before you even sell it. Below I have listed several methods for generating excess income from your property depending on its size, location and topology.

1) Billboard Advertising – If your property has good road access on a fairly well traveled road and local zoning law permit, you can contact a Billboard company and offer your land to allow them to erect a billboard. Such arraignments can generate monthly income while not taking up much of your property. Generally, you must commit to a certain amount of time for them to erect a new billboard. Google ‘billboard advertising’ in your zip code to get the particulars.

2) Logging – If your property is wooded, you could allow a logging company to thin out some of the trees on your property and sell them for timber. There are usually restrictions on how large a tree must be before they will cut it for timber so you need not worry about your property being cleared of all of its trees. Generally, the logger does all of the work and splits the proceeds with you in the area of 60/40 with them getting 60%. Negotiate the best deal that you can before signing any contracts.

3) Leasing your property to hunters – If you have a large enough parcel of land, hunters will pay you to allow them to use your property for hunting. This is usually restricted to certain time of the year so you will need to check local ordinances. You can go on the Internet and Google ‘gun clubs’ and hunter websites in your area and post an announcement on their site offering your land for hunting.

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