Buy Land NOW - 6 Ways to Generate Passive Income from a Small Piece of Land
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- เผยแพร่เมื่อ 5 ก.ค. 2024
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Our Rich Journey - If you’ve been following our journey, you know that we purchased a property in Portugal with a large piece of land in the back. We have big plans for the land (that we’re beginning to start now!), which we think will be very lucrative! With that in mind, we decided to do a video on investing in land! We think investing in land presents huge opportunities for building wealth. So, in this video, we focus on six different creative ways that you can invest in land and monetize that land in the process!
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As s realtor, I cannot stress enough for buyers to please perform your due diligence and check the zoning for use of the land.
Yeah and I would add to that to find a realtor that knows raw land and not one that only sells houses in the burbs.
For a future video, you could show different plots of land, kind of like a home buying show, and tell us what to look for and avoid. Keep up the good work!
Thanks for the video suggestions Jordan!
Hi @Our Rich Journey… something that wasn’t talked about I believe is the zoning for the land. Cities can change the zoning but they have zoning maps online and the uses that each zone is allowed for. That is very important, I’m an Architectural designer and there have been stories of people buying pieces of land where they can’t use it for the intent they wanted to use it for.
That's for the buyers to do the research on ... It's impossible for them to cover everything ... Enjoy the gems that they gave you
Agreed. Due diligence, always!!!
I really like the campground idea. If you can plop down a few amenities, like a building that has toilets and a shower and an antenna for wifi, you could appeal to the vanlife set, especially if you’re within a few miles of, say, an Amazon warehouse. Sort of like WeWork for nomad workers.
Yes! Great idea!
It's incredibly expensive to bring in water and septic to a vacant plot of land for one house. Imagine the cost to accommodate an entire campground!
I've had many ideas for how I would utilize Land. One idea I wrote down because you never know. Is what I'm calling "Four Elements Lifestyle Center" it would be a place with shops, restaurants and activities based on Earth, Wind, Water, and Fire.
I would give people an experience they never knew they wanted. The Earth wing would be like walking through an indoor garden. Water would have lots of fountains and waterfalls. Fire would have some fire pits placed in the lounge area. With air being a rooftop lounge and restaurant that overlooks whatever location it would be built in.
Extremely ambitious yes. I would only pursue this if I became extremely rich. I write down all ideas because you never know what will work.
I LOVE that you write your ideas down! You are right - you never know what will work!
Love your idea!!!!
Yes! Quietly I know folks that have done it (land) long b4 stocks. But I ALWAYS LEARN new things/twist on your channel Thank you guys 🙏 🔥👌🏾❤️👏🏽👏🏽👏🏽
I know someone with 30+ acres that has a section marked off for wildflowers. She charges for people to take photo shoots in them with her barn and other scenery in the background. It's not much but it's a great idea.
That is so creative Christen!
Great video, I was actually researching this concept very recently. I was looking at residential lots located inside of areas that’s undergoing development.
Wow! You guys are a wealth of knowledge. I love to learn more about this.
Closing on our land this week! 😍. Love your videos!
Congratulations!!! That is fantastic!!!
Hy guys,just found your channel and i want to say i love and respect you both very much .You help so many people to get educated and make the transition towards financial freedom.I m also studying about financial markets and i want to tell you a heads up about the upcoming events i belive it s about to happen.So my prediction is that after this few months of rally from the stock market a recession will come and all the markets will suffer greatly and it may take a few months or 1 2 years this bear market.So be careful and take this scenario into account for your portfolio and prepare for this and know when to layer out and also when to get back in and capitalize off of this crash!Love you and keep it up!Cheers
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Great lesson! Thanks for this one!
Really appreciate this new content! 👍
Hi! Thank you for the video! What might be some of the legality concerns with investing in land that we should be aware of? I’m guessing zoning (commercial vs residential), HOA and tax but that’s as far as I can think of. Thank you!
Easements and property lines are two other things to consider/research! :)
Thank you for this video! I bought land last year and renting it out now and looooove this! I've been following you guys from the start from my original TH-cam channel! Keep up the great work and happy New Year 😉💯🤜🤛
I'm not sure if it works the same in other states, but in Texas you can get a tax right off if you allow your land to be used for scientific research. When I was in college, I helped a professor do a wildlife study across 8 counties and we worked with about dozen landowners.
Perfect timing. I was looking at land near the Raiders stadium to see if there was an opportunity to convert into parking. Your video gave me a couple other opportunities to consider.
A couple of other options include RV sites, open-air RV parking, and construction material storage if the land is commercially zoned and is near a city.
Thanks
Thanks for adding even more ideas JF!
Thank you for this video Amon and Christina. I bought a few lands in my country in the Philippines before getting serious into U.S Stock Market and I've been beating myself up for it. Your video made me realize, it wasn't a bad move after all. ❤❤❤
Glad to hear it!!! :)
Hey Ivz, my family also owns land in the Philippines. What are you thinking of doing with the land you bought?
hello, I'm planning to put up an Apartment business on both small lands I have (500 sq meters each) and I have 6 hectares of barren land, hopefully, I can develop it into a farm. I need a lot of money though 😂 But for now, the U.S stock market is my main focus.
Thanks for the great ideas!
Very good video. I myself just sold a parcel of land for 50k. I bought it for 15k and held for 5 years. Was a good investment. I have the money growing in Income ETF's and VTI now. Going to do the same process looking for under developed plots. If i find something in the country I will turn it into a campground.
I have been precisely looking into land the last couple of days!! excited for this video!
Perfect timing Inea!!! :)
Great information thank you for sharing
Wow! Great ideas. Thank you!
RV storage. In Southern CA it’s no less than $250 per month.
Thank you very much for both of your advice
Thanks for another great video! Thanks to watching your journey I've only been more excited to find my husband and my forever home. We are living in holland but the housing prices are out of control. We are actually finally getting to portual Saturday! It's my first time there and we have a realtor that's going to show us homes on the Silver Coast. I was wandering if you had any suggestions on real estate companies to work with or any tips for us as we visit the silver coast. I'm going to check back through your videos to to see what might be helpful.
What platforms would you use to research possible plots to buy?
Can you do a video on businesses started by expats in Portugal ? Also, about credit system in Portugal as well as mortgage rates please ? Thanks !
How much does Garden pot leasing go for in California?
Thanks for this awesome video!
Thanks for watching Jasen!
There's this young man who rents folks land then gives the owner a cut of the growth. He then sells it at weekly farmer's market. He also teaches gardening classes. He now has land and rents it out folks . He got a degree and ended up going back to his family roots of gardening.
He’s a serf?!?!
I love gardening!!!
Cannot say enough how much I love this video.
Aww, thank you so much!!!! ❤️❤️❤️
Checking in from the DMV.
def love this video
Amazing video. Is there a perfect website to use to find the best deals on land in a certain state here in the US. I'm needing land with a house on it but either or is fine.
Love your videos, keep them coming...
Aww, thank you so much!!!!
Sometime big trucks such as power company trucks rent lots to put their trucks on so the workers will have somewhere to go in the area to sit and wait in cases such as power outages in the neighborhood.
Lumbering is a great way to invest in land. Including other landscaping and agricultural based opportunities.
Flex space is another unique way to invest in land. This is greatly used near busy highways.
thanks again 👍👍👍
Thanks for watching Robert!
How can you do a search for available pieces of land only? I have done a number of searches but can only find single and multi family properties.
My town in NJ and many around us rents a 8x4 plot for $80 from March to October every year. They provide water, tools, mulch and compost and you grow whatever you want as long as it is not a perennial or invasive. It is a very rewarding process. Earn and Invest had a company on that offers slivers of land in Columbia that is used to grow crops, for $24K you own a fractional share of the crop yield, it is called Farmfolio.
Why does this sound like neo-feudalism? If you have enough money - buy land for people to rent and put it to work.
If you don’t have enough money, work the land for someone and get a portion of the profit.
Matching shirt & sweater! Great ideas per usual. I'm not a fan of billboards, but I can dig the rest.
Haha! Time to coordinate! LOL!
You could set up an outdoor wedding infrastructure, perhaps a small chapel or reception hall.
Or make various photo shoot areas throughout the property.
The mountain pic...looked like here in Gatlinburg TN..lol. You guys need to come visit one day...click on The Gatlinburg Hussey to see daily things going on here in town🙏
We've never been to TN before. Now we have to add it to our list!
A lot of catering companies and chefs look to rent small sized industrial kitchens. If you can afford to invest in the land and in the kitchen (with as many good used kitchen appliances as possible from restaurants going out of business), then you can rent the space just to professional cooks, caterers or people who's home cooking business is growing beyond the capabilities of a home kitchen. I just talked myself into doing this with an extra space I have!
hmm...It's funny, I have asked myself that question as well. A lot is talked about real estate, home ownership, as a way to grow your financial future however (outside of you, of course) not a lot is said about land ownership and the potential income you can have because of a plot of land. I wanted to do it a long time ago but I didnt have a plan of what I wanted to do on that land. There was a Wall Street Journal story done about a lumber farmer that lost a lot of money because of high lumber prices, (it cost more to process than to grow) he then lease about 200 acres during that time, also about a few months ago CNBC TH-cam did a story about Bill's land ownership and I was curious. I started looking in my state of Florida to see what land is available for purchase; in fact, in my county of Okaloosa a lot of small businesses have been developed, based around land ownership. Later next month I am going to look at land in a Midwest state. As always, please please please, keep up the good work.
Super interesting topic
Thanks Andrea!
Thank you.
LOVE YOU BOTH
Residential vacant 1 acre lots or land in tge outskirts outside of city areas?
I was wondering about if ALICO (ALCO) was a good stock to purchase under $40. It's paying 0.50 in dividends quarterly and for me it would be a long term investment. I'm not asking for advice, just your input. Thanks.
very exciting and fun ideas . unfotunately in my area the price of land could not support any of these ideas . i will keep looking tho
I have land right off of a highway. How could I go about finding someone to put up a billboard ?
Side question/video idea: what is your opinion on the Smith Maneuver and its risks? I ask because I am seeing some other FIRE folks touting this as a savvy investment and the best thing since sliced bread...BUT the housing market in which we both live just started to turn and they are 3-5% worth of equity away from MAXED out on HELOCs (callable debt!). I don't think they have realized, even now, the risk they are taking.
The simplest way is actually plant trees for logging; eucaliptus mature in 7 years.. but sells well.
Thanks for sharing your idea Leonardo!!!
For those with limited capital own shares until you can buy: Gladstone Capital REIT: LAND
💵Thx for the REIT tip. What other Land Trust do you invest in?
LAND & FPI
Hi Aman & Christina, Since you have left USA, you must be non-tax-residents in USA. In this case how are your non-registered accounts taxed? (Capital gains/dividends?) Are you even allowed to have non-registered accounts if you are a non-resident of USA? I would like to learn how this work as I’m a Canadian and trying to figure out what would happen to my cash account when I move to Portugal. Thank you in advance.
Can u do video on investment of land in Portugal?
Land is a hard asset, smart move!
Great video, but what about the costs to insure the land, taxes and maintenance?
All depends on where you purchase the property. Got to do the research! :)
And possibly liability insurance
A land is a good investment, thanks for this.
Thank YOU for watching and commenting! :)
I like infill lots been thinking of that
We've been searching for land to buy. Can you do a video on how to obtain a land loan?
Thanks for the video suggestion Khaillah!
My business partner and i invest in tax deed properties in different states
Hello from Gatlinburg TN...I wish I had bought land here in East Tennessee 20 yrs ago . Wow
Yes! I’m sure it would be worth a lot today!
I am purchasing land this year to live. I'm thinking I can buy a little extra for one of these great ideas.
That's sounds exciting Jackie!
Also possible to buy small timberland and manage for timber harvests (classes and help through local cooperative extension in the US). Gates and others are buying farmland - if you can afford farmland, buy and rent out to nearby farmers or young new farmers on an annual rent. Rent won’t return the same cash rents as other investments, but you capture appreciation over the longer term. Watch mineral and water rights with these purchases. Sell hunting rights in some areas. Commercial mushrooming on some land in certain areas.
Thanks for sharing the added ideas!!!
I love land for farming 🚜
Same here!
Thank You imma boss🦍💙
What if I just want to buy a piece of land, hold on to it and sell it for a profit to a potential company or individual. Then I wouldn't have to worry about the zoning that would be the buyers responsibility right 👍
If I'm way off base please educate me I'm trying to learn.
You would have to be sure that there will be decent capital growth. Generally it works well if there is a dwelling on the land since you can get some rent while you wait. Otherwise you will be paying rates and maybe property taxes if your state has those, for a land you are not using. In the current market, money in a TD could give u over 5% in some countries. Why would you burry your money in the ground, pay rates and taxes etc.
Hi There 🙋🏾♀️👀😊
Hi there Danelle! ❤️
I inherited 900 acres of land recently, which I now own! Ideas?
Lease it out for boarding horses
I love the idea of buying a small piece of property and renting it out to someone who wants to sell produce.
As always the royal family has spoken wisdom.
I'm very interested in purchasing land, but I recently learned that land cannot be financed. It has to purchased in cash. Is this also your understanding?
No this isn’t true. Land can be financed, it might have a higher interest rate or shorter year term but it can be financed.
Ask about seller financing. I recently bought 2 parcels, one I financed with a regular personal loan and the other with seller financing. In 50 months they will both be mine free and clear.
I would buy some land and start a veggie patch , food for the family and food to sell to the public 😊
Yes! I LOVE the gardening idea! :)
Ive been searching for land
It can take time!
Investors have been calling myself and my parents incessantly about buying our houses. I can't imagine how it would be related to plots of land.
I am sure they have so many ideas of what they want to do with it!!!
@@OurRichJourney They want more rent property to fill their money bag 🤣😊
What State are you in? Los Angeles properties are skyrocketing.
@@leslievalenciano-lopez8887 Georgia by way of , my home town, California.
If it’s in a nice location, maybe 🤔 rent the land out for weddings ?? 🤷🏻♀️
It's IMPOSSIBLE to get a land loan these days. Even if you do find a lender, it's something like 50% down and 10% interest.
Land doesn’t have to be that expensive! I have bought parcels for as little as $500
need numbers. you can grow vegs. you can raise chickens. how much are you investing, and how much are you getting back? numbers, pls.
Kingdoms run on land and gold.
If you have other people using your land , don't you have to carry some pretty hefty insurance in case someone gets hurt?
I would imagine. Especially with tents.
How can I flip land and where can I get 1 acre for cheap ?
Tax lein land that the county has for sale.
Pennies on the dollar.
Purchased 5 lots that way...
Pov...that's just an idea
Bery nice❤. Thanks