Do you have a vacant piece of land just sitting around and wasting away some possible income for you? Most people who have this kind of property would either take too long to figure out what they want to do with it or make a decision on a whim that can cost them a lot of money. Raw land presents a whole new world of opportunities for those with imagination.
Experts from 1031ex.com say that raw land can be considered as replacement property in an exchange. You can also decide to use it as a park or an outdoor shooting range depending on where it’s located. Here are 4 more creative things you can do with your raw land.
1. Use it as a campground
Perhaps you don’t have the funds to build a hotel or residential apartments but you like the idea of the business. Building a campground would cost so much less and be much more fun.
2. Turn it into available space for concerts or festivals
Festivals and concerts have always been around and more of them are now being produced to take place every year. You can build bleachers or just leave it as is with a secure gate surrounding it and start advertising to the entertainment industry.
3. Build a skate and bike park
Extreme sports have a fair share of the market and building a park for them will attract fanatics and newbies alike. All you need is a builder who knows how to create smooth paths and ramps that would work for the skaters and riders.
4. Create a place of Zen
Install some grass beds and put up wooden huts and build a Zen park for those who need a place to do yoga or meditate.
Once you’ve decided on what to do with your property, you can now work with professionals to help you actualize your plans. It’s crucial to work with people who know what they’re doing to make sure you’ll have a good ROI once everything’s up and running.