What is the best thing to do with land?

Question

I have some land in northern Maine (around 100 acres) that I inherited when my granfather passed away a few years ago. It used to be used for gravel and trees, although right now it is in the process of regrowth so that I can make some money off of it again. All the money it made before (from gravel and wood) Ive mostly used up for college tuition. Is there any other way to create cash flow through some sort of investment/s?

Answer 1

Have it zoned into 200 Half - acre sites and sell them to individual buyers looking to build homes.

Answer 2

Just give it to the Nature Conservancy and take the tax deduction.

Answer 3

are there any oil or gas companies buying gas/oil drilling right up there? in NE Penna, that is big right now - they pay you money up front for 5 year drilling rights (current up over $2000 per acre from what I've read and heard) and then when they start drilling, you get paid royalties when they strike - I own a few acres - missed out of the up front money - guy I bough land from only got $25 per acre before I bought it from him, but hopefully they'll start drilling in the area in the near future and I should at least make enough to pay the land loan and dig my septic system and well for when i build my retirement home. if the land i all torn up otherwise and immature tree wise, It's probably not worth a lot right now