Renting a Home with Pasture

[Christopher Bowen]

Hi BP,

The home I live in has pasture rights and I want to move out of it, buy a owner-occupied duplex, and turn both properties into rentals (I like the home I am in now and want the option to move back in the next 5-7 years after I buy a number of owner-occupied multi-family homes). I bought this place before real estate investing entered my life and I want to do everything I can to keep it, as it's exactly where I want to start a family with my soon to be wife.

I initiated this post with pasture rights... I brought this to attention because the home I live in now wouldn't cash flow very well unless I could receive a bit more rental income, potentially through utilizing the pasture rights. I live in a popular horse/goat/cow area that's very convenient to freeways and cities so the property does have something to offer (and the house is nice too, built in the 90s). One large animal or a few small animals would have about 1/4 - 2/3 of an acre. I have a large shed that could be used for shelter as well.

Does anyone have experience renting a home with pasture? Any insight would be appreciated. I am not set on this approach by any means, but looking at any way to turn my place into a moneymaker without having to sell the property. Plus the house is in a lake community that's growing rapidly.

Thanks,

Chris