Check out the other posts in the Building Enduring Assets Series:
- Building Enduring Assets: Part I An Introduction
- Building Enduring Assets: Part II Debt Management
- Building Enduring Assets: Part III Antifragile Properties
One of the scariest things during the 2008 US economic collapse was seeing how the housing bubble instantly erased enormous amounts of perceived wealth. Right now, some estimate housing in Canada to represent up to 20% of total GDP (HERE and HERE). If that value gets wiped out in a crash, there’s going to a lot less money floating around. So what can you do to buffer yourself?
Generating Alternative Revenue Streams
Your property should have the potential to generate income streams that will be in demand in hard times. With food prices on the rise, having perennial food systems in place can make a huge difference. Even now, conventional farming is a marginal venture at best, and completely unsustainable at worst. Luckily, there’re plenty of unconventional farmers out there who are doing amazing things and turning a profit. Many of you know Joel Salatin from Polyface Farms and Curtis Stone from Green City Acres. Having systems that are similar to those in design but bioregionally adapted to your area is one way to keep you full and revenues flowing as food and cash become scarce.
Image by FlickreviewR from wikimedia.org
Another commodity that always keeps its value is alcohol. In our northern climates, surplus apples and grain can easily be converted into beer, cider, brandy and whiskey to be stored or sold. With the relaxation of distillation laws in BC and Alberta, the future looks merry!
Food production is a primary means of getting value off your land. There are many other secondary ways, including becoming your own utility (Photovoltaic systems) or showing others how to become more self-sufficient through education and consultation.
Being the first to start generating alternative revenue streams has its advantages, but it requires foresight and determination. These are the things we specialize in teaching students in our courses and clients in our consulting services. If you want to get on this path, or if you want more ideas on generating alternative revenue streams, keep checking out our blog or sign up for one of Verge’s courses and offerings.
Featured image courtesy of lulamshort.com
