Three Ways to Generate Revenue on Your Recreational Land
Rural land is a long-term and tangible asset packed with profitable potential. It is a ‘hands-off’ investment, meaning it offers stable returns for owners with minimal required maintenance. So, what are some ways recreational landowners can capitalize on this finite investment?
#1: Agritourism Destination
The term ‘agritourism’ was first used in the USDA Census of Agriculture in 2007. Since then, agritourism income has grown 67 percent from 2007 to 2017. Agritourism opportunities can be anything from hunting leases to rural wedding destinations. Part of recreational land ownership means the ability to create a number of memorable experiences for yourself and others. It grants owners the opportunity to generate income while also enjoying the personal benefits their land offers.
#2: Conservation Programs and Easements
In addition to being a part of the rising popularity of agritourism, recreational land provides a lofty tax deduction for investors and equity to leverage through conservation easement agreements. Due to a shrinking rural landscape, then number of federal and state programs available for landowners to preserve our natural resources has only grown in number and funding over the last decade.
#3: Timber Production
Recreational landowners can also gain both economical and societal profit through the responsible management and restoration of Florida forests. Statewide, there are more than 17 million acres of forests, with most of these timberlands classified as working forests. Financially, the Florida forestry industry employs more than 124,000 Floridians and infuses $25 billion into the state’s economy each year. Proper forest management practices are an important part of the ecosystem as a natural air and water filter.
Partner with a Lender Who Understands the Value of Recreational Land
As land values continue to offer a haven of steady returns, now is a great time to put your cash to work through recreational land investment. Regardless of how you choose to use your land, its profitability depends on if you have the initial capital to invest in its potential. AgAmerica provides flexible working capital to give recreational landowners that financial freedom plus additional resources to ensure they thrive.
Try AgAmerica’s land loan calculator now to explore the financing solutions available to you.