Do you own vacant land and want it to be a moneymaker? Here are 6 Creative Ways To Make Money From Your Vacant Land in Detroit!
Believe it or not, most owners of RV’s and boats do not have enough space on their property to keep their weekend toys at home, and a lot of large vehicle/vessel owners that do have space have community rules against doing so. A creative way to make money from your vacant land in Detroit would be to use your vacant land as a storage lot. You must do your research to see if this is allowed on your vacant land. Check to make sure the lot has proper zoning for this, and if it doesn’t, you may be able to apply to change the usage to allow such business operation. If your property is on a canal or body of water, you could also utilize your water frontage as boat storage. You could charge even more for covered storage! Look into installing canopies and fencing around the property for you and the vehicle owner’s security. Be prepared to get a business license and proper permitting, otherwise, you could face hefty fines for the violations.
Another creative way to make money from your vacant land in Detroit would be to use your vacant land as a campground! You would have to look into zoning and permitting for this usage also to make sure you are not violating any rules. If you have points of interest on your land, such as a creek or frontage on a river or canal, this will make your campground more interesting to potential campers. Have running water installed via well or public water and electricity, and you can increase your rental rate!
If your vacant land is heavily wooded or it contains natural minerals, a creative way to make money from your vacant land in Detroit would be to harvest the timber or minerals on the property. This would be ideal especially if your goal is to build on the property, this will take care of clearing it to start building. You could also start a farm on your property, as long as zoning allows or you are able to change the zoning type. If farming is allowed and that is not something you are interested in, you could rent out your land to a farmer and collect the monthly rent!
Another creative way to make money from your vacant land in Detroit would be to build a solar panel farm on your property. This would be ideal if your property is mostly cleared already, especially if you have harvested it for timber. The more acreage, the more wattage you can create and sell to the power company. You could also lease your land to house wind turbines. Either of these options would bring you monthly rental income and help the planet create clean energy. Of course, these options would also have to be built under proper zoning and permitting.
Along the lines of the RV and boat storage option, a creative way to make money from your vacant land in Detroit would be to “store” horses or other livestock. Also, you would have to check the zoning and permitting requirements to have stables built or livestock on the property.
Another creative way to make money from your vacant land in Detroit would be to use your vacant land as an event space. This would also require the proper zoning, but you could even build a small stage, or a large covered shelter or barn to house weddings or concerts for local musicians. With a little bit of investment into power and running water, you could definitely accommodate a larger number of types of events.