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1:28:04 - 06/18/2026
The Land Investor podcast sits down with Pat Byorth, fisheries biologist turned water attorney and Montana Water Director for Trout Unlimited, for a wide-ranging conversation on what every western landowner needs to understand about water rights, stream health, and land stewardship. Matt and Ryan dig into the doctrine of prior appropriation, the real difference between paper water rights and consumptive use, and how in-stream flow leases can create new opportunities for landowners to improve their property while keeping water in the stream. From the grayling recovery in the Big Hole to the emerging water market in the Gallatin Valley, Pat makes a compelling case that healthy rivers and productive ranchland go hand in hand.