Hey Mustachian Community,
I have been a fan of the podcasts for a while, but now have a question of my own:
I owned a parcel of raw-undeveloped land, about 200 acres, in South Texas and have "sat" on it for about 12 years now. This land has been with my family for generations so I would ideally not like to sell it; the taxes on the property are marginal, about $180/year and there are no fees or loans weighing me down on the property. I find myself wanting to find some means by which to grow some sort of income from this property but have encountered a few issues.
1. I live about 11 hours away from the property, so accessibility and visitation frequency is limited.
2. The property is not near any major towns or even decently sized cities so there is no real prospectus for a substantial increase in land value over time.
3. The property gets less than 20 inches of rainfall a year, and while there is some water on the property, leasing the land to farmers will likely prove difficult.
4. The property has access roads but is far enough away from transmission lines that solar or wind farming is inefficient and not cost-effective.
Pros:
1. I own the land
2. It has wildlife and some regional, arid, vegetation
3. Access roads
I am not looking to become a farmer as the area is not only non-ideal, but also the cost of entry for such a livelihood is prohibitive. I feel that I am likely wasting the potential of this property through my own inexperience with raw land. If in the Mustachian-World has advice, it would be greatly appreciated.