There are many who say that investing in property is one of the most important investments you will ever make. However, a good investment is always based on its ROI. For most home owners, that ROI comes much later, perhaps during retirement, when they sell the property at its appreciated value and collect the equity as part of their retirement funds.
But what if you could use your property to create additional income for you now, even if you’re not into traditional investing? That’s right, your property can be a gold mine for activities that can net you more income. And some of these activities fall straight into common hobbies, which means you can end up making money for an activity that you like doing.
I read in an article recently that more people want to get paid for their passions. That’s why for the coming weeks, I’ll be bringing you some tips on how to make money out of your passion.
This week, we’ll be exploring how garden enthusiasts can earn from their green thumbs. Keep in mind, investing in your garden is investing in your property, so you’re increasing the property value and getting extra cash while you’re at it. What’s not to like about that?
Making money from your garden is very easy if you plant specialty crops. These are valuable crops, compared to grains and vegetables, because there is high demand for these plants, but they are not widely grown. So if you have a few hours a week to spare, and a few hundred dollars for seeds or seedlings and supplies, you can grow any one of these profitable plants in your backyard right away!
Gourmet Mushrooms are ideal for urban farmers, since they can be grown indoors and produce a very high yield per square foot.
Oyster and Shiitake are 2 of the most widely grown and used gourmet mushrooms. You can sell them either fresh or dried, but most of them are bought and sold fresh. Oyster mushrooms have an average yield of 25 pounds per square foot of growing area annually. Currently, a pound of Oyster mushrooms sell for £7 a pound. This means you can earn $17,500 worth of harvest from a 10 x 10 space.
Gourmet garlic a.k.a. hard neck garlic is known as the mortgage lifter to many growers out there. Believe it or not, a pound of gourmet garlic could fetch up to £6-10 a pound, depending on the variety of gourmet garlic you sell.
People pay premium prices for these specialty garlics, because of its superior taste compared to regular viands. Some would even say that once you’ve tasted gourmet garlic, you wouldn’t appreciate the taste of ordinary garlic, ever again.
Gourmet garlic comes in 3 varieties: Rocambole, Purplestripe, and Porcelain. You don’t necessarily need a green thumb to grow them well, since they can survive through a wide range of soil and weather conditions.
For the past 2 decades, demand for fresh herbs has grown by leaps and bounds. While the biggest demand for fresh herbs still come from restaurants and supermarkets, its use has gone from the kitchen into homemade medicine and other value-added products like soaps, candles, teas, and bath oils. Some even dry their plants and sell them in powdered form.
You don’t really need a big farm to make money from fresh herbs. If you’re just tending a backyard garden, you can sell your products in a weekend farmer’s market near your house.
I like to think of Lavender as the chameleon of the plant kingdom. It’s so versatile that you can make money out of it in any form.
Fresh Lavender, which is used for Lavender oil, soap, and other aromatherapy products, can be sold in bundles. Its flowers can also be dried and sold to florists and crafters, who in turn make them into beautiful wreaths and arrangements.
The University of Kentucky recently discovered that Willow growers could earn £56,000 per acre of Willow harvested. Granted, typical gardens are not an acre in size. But even a fraction of an acre can still generate some decent extra income because Willows are easy to grow and there are many uses for its parts.
A Willow’s shoots and catkins are used for basketry and other fibre arts such as trellises and window furniture, while the stems are manipulated into wreaths and arrangements.
Stay tuned for other cool money making ideas in the following weeks!