How to Make Money on 5 Acres – The 10 Best Ways.
With the current state of the economy, it is now, more than ever, very important to have control of your financial future. You need to have a plan B. While there are many modern ways of generating extra income, today, we are going to focus on ...
With the current state of the economy, it is now, more than ever, very important to have control of your financial future. You need to have a plan B. While there are many modern ways of generating extra income, today, we are going to focus on an old school method that works, all the same, that is, making money from a piece of land.
Land is a very valuable commodity. It is no wonder that even when a majority of other commodities are depreciating, the value of a good piece of land will always be appreciating. However, it is not easy to purchase or even maintain raw land. And it is for this reason that many landowners seek ways in which they can make money off their land to maintain it as well as help them earn extra income. If done correctly, you can make good money from your piece of land.
Below is a comprehensive list of the top 10 ways in which you can make money on 5 acres of land;
Cultivating fruits and vegetables on your farm does not only guarantee you fresh produce for your consumption at home but is also a good way to earn extra income from your farm.
Agricultural options for your land include;
Fruits and vegetables
Fruits such as apples, oranges, bananas also, if you are in a region that does well with grapes, you can plant those too. Grapes are a very profitable way of earning money from your land. They can be sold to wine and alcohol manufacturers.
As for vegetables, there is quite a variety to choose from. However, some of which can grow in any environment include carrots, bell peppers, summer squash, lettuce, sweet potatoes and tomatoes.
All these products can be sold at a farmer’s market or you can get into a contract to be a supplier at your local grocery stores.
Trees are less involved than fruits and vegetables. It could include high demand hardwood trees or seasonal trees such as Christmas trees or pumpkin patches.
Unlike for fruits and vegetables where the turnaround time is a bit shorter, for these, you will have to wait longer to be able to make money from your land. However, if there is a good market for the trees around your location, you will be able to cash in good money when the time is due.
Livestock and livestock by-products
Livestock is a great source of protein. There are several that you can choose to rear depending on your preference or your area of expertise. They include;
Cows can either be dairy cows or beef cows. A five-acre land is most suitable for dairy cows. From dairy cows, you will be able to get fresh milk, at least two to six gallons from each cow every day. If you have extra milk, you can decide to make cheese or even yogurt which also boosts your income source. Milk by-products, that is, cheese and yogurt, are a great way to supplement your income from your cows.
Beekeeping is a very profitable niche whether done full time or as a side hustle. The advantage of this is that it does not even require a large piece of land and also requires minimum effort. Depending on the number of hives you have, you will only need to dedicate a few hours, at most three, a week to harvest honey.
These are very common on many farms. Keeping several laying hens will provide you with an abundance of egg supply which you can sell locally at the market. Another way to earn money from chicken is by selling chicks.
Once they are matured, you can give you a good supply of meat enough for your consumption and selling. Normally, pork is expensive therefore you can be sure to cash in a good sum of money.
Is thanksgiving ever complete without turkey? You can opt to cash on this holiday frenzy and rear some turkeys for sale. Turkeys are usually ready for sale from fourteen weeks, therefore you can make this a seasonal business that will bring in steady profits.
If you are not so much into farming and rearing livestock, not to fret. There are a few more viable options for you that will enable you to make money from your land passively. They include;
This is whereby you buy land that you believe will be worth more in the future. You then hold on to it until the value appreciates to a desirable rate then you sell it. This option is quite profitable especially in developing areas. When the parcel is on-demand you can be able to make more than thrice the initial cost.
Meanwhile, instead of letting the land sit idle, you can earn money leasing it out as parking space, storage units, or warehousing. This however largely depends on its location. If it is convenient enough then get on it.
Renting out land
Renting out a section or the whole piece of land for a certain period is a great way of earning passive income from your land. The most common people you can rent it out to are farmers since not everyone can afford to buy a piece of land for their farming.
You can also choose to be renting it out to event organizers to host weddings, parties or even concerts. These types of venues are currently in high demand therefore making it a viable option for making passive income.
Turn it into a campsite
For this, you will not even need to use the whole piece of land, an acre or two is more than enough. All you need to do is to put up toilets and shower units. If your area is easily accessible, near hiking, or outdoor attractions, you will be able to make money from campers seeking outdoor thrills.
Taking control of your finances is the best decision you will ever make. Therefore, regardless of which option you choose to go with, always ensure to stay focused and in control. also, do not go into anything blindly, always do thorough research to find out what will work best for you.