The number of people who’ve bought land as an investment and don’t know what to do with it is baffling other than wait for it appreciate in value.
So what can you do to make some money with that vacant land instead of waiting to it’s value changes. We’ve come across several proven ideas that we believe will help you make some good money off your dirt.
Yeah, we know it’s hard to believe this but there is a lot of money in storage. For many who have invested in land with close proximity to airports or port harbors will benefit more with this kind of business. Kenya’s current importation level exceeds the the amount the airports and harbors storage facilities increasing the demand for storage facilities outside this areas.Developing mini type facilities doesn’t require much capital, marketing or staffing. The opportunities are endless depending on what you’re willing to store.
Parking is a billion shilling industry in Nairobi alone. With over 30,000 units of vehicles being bought in Kenya, 60 percent of those vehicles are in Nairobi increasing the demand of parking inevitably. Wherever it is you’ve bought land within the city, you won’t go wrong with converting it into a fully fledged parking lot. The average minimum charge for parking in Nairobi is approximately KES 200 per day and say about half an acre of land can fit around 100 vehicles.
Now mentioning timber harvesting doesn’t necessarily mean venturing full scale into the logging business. A lot of timber suppliers are coming under pressure because strict government measure to protect any form of wood source, lumber companies are looking in new locations for wood. Prices paid for timber vary depending on what’s grown and how old the trees are. Your vacant land can act as a source to this lumber companies or contractors in meantime suppose you lease it to them.
Marketing and Event Space
Suppose your vacant land borders busy highway or it is in a strategic a location altogether, it can serve as a prime locale for companies to erect billboards, network mast base stations and events space. Payments to landowners will vary wildly, depending on the size of the sign, current advertising rates, traffic counts, and numerous other factors. But if you’re fine with having a sign erected on your land, it could mean thousands and even millions of shillings in your pocket each month.
Yes, we are talking wheat, maize, beans and crops similar to that. Kenya’s economy runs on agriculture as much as other industries are growing. Naturally, you will need to have an area on your land that is open and can be accessed by tractor and what not but then again it doesn’t have to be a lot of acreages. Most farmers are looking for land where they can plant.
All the owner has to do is set up a lease agreement and then watch the income roll in month after month. Keep in mind that the larger your plot of land, the more attractive it will be to an interested farmer.
BY Jumia House