Generating Income with a Property.
December 19, 2014 4:14 PM Subscribe
Anyone have any creative ways to generate income with a property other then renting or selling it?
This is a multi-million dollar property I am in possession of, but can't sell or rent.
It's located in NJ about 30 minutes from NYC.
AirBNB or VRBO?
posted by jabes at 4:28 PM on December 19, 2014 [1 favorite]
posted by jabes at 4:28 PM on December 19, 2014 [1 favorite]
Similarly, rent it out for filming?
posted by karbonokapi at 4:29 PM on December 19, 2014 [7 favorites]
posted by karbonokapi at 4:29 PM on December 19, 2014 [7 favorites]
Is it commercial, residential, a field? A lot in a manufacturing district? Whats the zoning? Are there nearby neighbors, is it close to amenities? Public transportation? Manufacturing district? Toxic waste site?
Provide as much info as you can and you should get some better answers.
posted by newpotato at 4:51 PM on December 19, 2014 [6 favorites]
Provide as much info as you can and you should get some better answers.
posted by newpotato at 4:51 PM on December 19, 2014 [6 favorites]
Also, what does "possession" mean, exactly? Legal possession, as in ownership? Or adverse possession? A set of keys from the owner?
posted by clawsoon at 4:57 PM on December 19, 2014
posted by clawsoon at 4:57 PM on December 19, 2014
It seems to be more of an East Coast thing but "Wedding Venue" is something you could do.
posted by bitdamaged at 4:59 PM on December 19, 2014 [4 favorites]
posted by bitdamaged at 4:59 PM on December 19, 2014 [4 favorites]
Reverse mortgage?
posted by Ruthless Bunny at 4:59 PM on December 19, 2014 [1 favorite]
posted by Ruthless Bunny at 4:59 PM on December 19, 2014 [1 favorite]
If you truly a) own it and b) can't rent it or sell it, it's value is zero. Sorry.
But I agree, please give us a little more info.
posted by LonnieK at 5:08 PM on December 19, 2014 [8 favorites]
But I agree, please give us a little more info.
posted by LonnieK at 5:08 PM on December 19, 2014 [8 favorites]
Farming.
posted by mr_roboto at 5:17 PM on December 19, 2014 [1 favorite]
posted by mr_roboto at 5:17 PM on December 19, 2014 [1 favorite]
Yes, please answer the questions above (esp re zoning and other relevant legal constraints), and add to them: Do you yourself have to live there? Is it a historic home or a shiny condo? Is it soundproof? (I was also going to suggest a B&B, or artist/musician studios [if soundproof] or office workspace.)
posted by cotton dress sock at 6:01 PM on December 19, 2014
posted by cotton dress sock at 6:01 PM on December 19, 2014
An arrangement with a local nonprofit/museum/school to provide visiting scholars housing in exchange for some sort of in-kind value.
posted by Miko at 6:19 PM on December 19, 2014 [1 favorite]
posted by Miko at 6:19 PM on December 19, 2014 [1 favorite]
In SF our company made a substantial sum [mid six figures] annually by allowing one of those "Think Different" paintings on the wall.
posted by vapidave at 7:31 PM on December 19, 2014 [1 favorite]
posted by vapidave at 7:31 PM on December 19, 2014 [1 favorite]
Depending on location and zoning, hosting a cell phone tower or billboard.
posted by fings at 10:13 PM on December 19, 2014 [2 favorites]
posted by fings at 10:13 PM on December 19, 2014 [2 favorites]
Borrow against it, invest the borrowed funds.
posted by notyou at 9:07 AM on December 20, 2014 [2 favorites]
posted by notyou at 9:07 AM on December 20, 2014 [2 favorites]
This thread is closed to new comments.
If this multi-million dollar property is glamorous enough, maybe you could do weekend rentals to throw parties?
posted by trivia genius at 4:25 PM on December 19, 2014 [4 favorites]