Ideas to make money with my personal residence

[Robby Williams]

Hey everyone!

My wife and I bought a home a little under a year ago that was very undervalued at an auction. We love living here and plan on keeping it as our personal residence for the foreseeable future, but I feel like there is a lot of untapped potential in possible revenue streams.

Our house is 3900 sq ft and sits on 10 acres. We also have a 6000 sq ft pole barn with 4 horse stables, a good sized riding arena (we know nothing about horses), and a very small apartment. We live in a pretty rural area of SW Missouri, and are around 40 minutes from a larger city (population of 170,000).

I’ve brainstormed multiple ideas, but haven’t been able to commit to anything yet. Here’s some ideas I’ve had:

-converting the barn into storage units and/or boat and RV storage (we live about 25 minutes from a lake)

-renting our house out on Airbnb and Vrbo and staying in the apartment while it’s occupied

- growing cash crops

- raising sheep

What could be possible uses of our property that could generate some cash flow? Let me know if you have any new ideas or think I should run with an idea I already mentioned!