Yes, that's how the 'ad info' for Vacation Rentals begins. It's true.

That's just a start. This is Different.

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       Before reading much farther, or after reading, check this out >>

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What kind of Investment Idea is this?

While not common, Fractional Ownership IS  a 'thing'.

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Not to be confused with 'Time Sharing' -which works for some people and not so well for others. What would be the reason you would consider such an investment. Here's 10 good reasons:

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1- Have 'a place' in Wyoming that you can come to and make plans when to come. Guidelines per season will be set up and agreed upon before any final agreement. We must all keep in mind that when 'you' are using it for free: (a) Utilities still roll and (b) you're not making $$ renting it.

2- Share 'your place' with family and friends for free or YOU use all your 'free days', at a discounted rate.  [see Specifics at bottom of page for more info] 

3- There will be yearly return. Every year: Part will be emotional, Part will be financial. 

This is not (for us) or for you to be viewed as a big 'money maker'. There's more to life than money, thank God. We are a Christian couple, very involved. That fact may or may not matter.

But, we have nothing to hide and are honest, straight-forward people.

What it doesn't mean is that we'd only consider other Christians. We do not 'hover' over our Guests, but we do get to know some & visit with some. Same case for co-owners, I would think. 4- The property is in good shape and will remain that way. We live here. We want and intend to remain (co)owner/operator of the property. I cannot envision any 'cash call' ever being necessary.

5 -The property will continue to increase in value. Plus all Shares in the LLC are marketable along the guidelines laid out in the Operating Agreement. First right of refusal, Valuation procedure, Ownership transactions as per death or financial dissolution of owner, etc. You can sell, 'get out' of ownership - again according the guidelines in the Operating Agreement.

6- Wyoming has no State Tax. Handling the small profits will, however, be your responsibility.

7- Management fees will be incredibly low, almost non-existent compared to other opportunities. 8- Oh, yeah, coming to 'see' your investment property is a NECESSARY thing. Take the travel expenses you incur on this 'vacation' as a Tax Write Off.

9- It's incredibly peaceful here; the way life should be lived.

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10- And, we're fun people?

 

Try It before you Buy It

I would think someone a fool to buy or invest in something without finding out all you can prior to making a decision. In this case = Real Estate = you need to see it, live it and spend a few days getting a feel for the property, the area and the opportunity.

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That's exactly what we propose.

Book through VRBO or AirBnB any available dates coinciding with letting us know through the Contact Page (on here) what you are doing and what your plans and dates are.

We will be prepared to welcome you and spend whatever time with you that is needed. We can pick you up at the Cody airport, if you like. (YRA -Yellowstone Regional Airport)

You will be a full-price paying guest. Should things work out where you become more than that, we will personally reimburse all the fees you paid through the Booking company for this, what then becomes, your trial stay.

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Preamble

First question to be asked is simple: Why are we considering selling a portion of ownership?

Good Question.

Answer: We're not leaving the area. We have no debt on this or any other asset. We would like to get some equity out of the property but not by outright selling it. We enjoy the guests, the benefits it offers us and, of course, the continuing equity growth. It's also very convenient for family and friends when they come to visit.

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Current Ownership

Arland Associates, LLC {hereinafter AA} - our wholly owned company is the property owner. We run it as a business and file Federal Taxes on time. WE are and always have been in Good Standing with the Wyoming Secretary of State. There are no Personal Taxes in Wyoming.

Tax base is ridiculously low, but somehow happy guests don't care. We don't either.

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Fractional Ownership Benefits

Why would anyone knowingly invest in ANYTHING without some security, even peace of mind?

Welp.....

People do it every day. Some make bank, some lose their shirts. Most, likely in the middle.

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Why consider this type of investment?

#1 - It is a hard asset. Banks and cities have gone bankrupt. Are you comfortable having money in ANY Bank, knowing the current and coming overt involvement from our Federal Government?

#2 - It's Wyoming. Great cold winters, wonderful cool summers (except late July/early Aug some years) and FABULOUS 'shoulder seasons'. You need a jacket and light blanket at night and sometimes during the day. There's a reason YNP and the surrounding area are such huge Tourist destinations.

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#2a - You KNOW you would have to come check out your property from time to time. You also know that is a legitimate tax write off. Pay for your Trips to Wyoming with otherwise tax dollars.

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#3 - Not only do Tourists like it, so do absentee Homeowners. Many folks in these parts head to Texas, Arizona, New Mexico or Florida for the winter. Many like to do that in reverse. YOU?

#4 - The WagonWheel House doesn't make a LOT of money, but it is profitable. It is inconceivable that you, as part owner, would ever have to put another dime in this property. 

It carries itself.

#5 - It increases in value and will never lose value from a Rental Income standpoint. There are people standing in line both in this town and Cody and online from all over the country to be able to own a property here. The House could be rented year-round by sundown tomorrow night.

Sold before the end of next week.

#6 - You can plan your time here in advance and have the option to offer it to family & friends.

Free day numbers and discounted ownership cost day numbers would be by % (percentage) and will be determined in advance by mutual agreement. Such agreement would include even last minute 'openings' that could be taken advantage of.... by family or friends.

#7 - The property is fully furnished. Comfortable. Check out the 'Comments' Page. People are constantly amazed at how complete it is. Most Vacation Rentals leave a lot that has to be 'brought in' with the Guests. Not here. We have NO PROBLEM doing things better than anyone else.

#8 - You would now be 'in the market' somewhat and other properties or opportunities in the general area may be of interest to you. Especially with a partner in the area.

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(Thom was a RE Broker in 3 states -including Wy - and a General Contractor in 4 states -including Calif. We know things.)

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Negatives?

A) You could be partnering up with jerks. I've been called worse, but feel pretty sure we can sway you otherwise on your "Trial Visit". Besides, that's why you have a strong Operating Agreement.

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B) It IS a hard asset. You cannot go out and get your money right out of the Bank (if the Bank's still there and liquid) But, there will be a firm buy/sell formula in the Operating Agreement.

You can get 'out' whole. Lots of ways to do that.

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Future Ownership Form

A new and separate CLOSE Wyoming LLC will be formed with percentages and an appropriate well-detailed Operating Agreement. We have EXTENSIVE experience and templates for dealing with this, legally & efficiently. Obviously, all discussion points would need to be agreed upon prior to penning documentation. Trust me, it's all Quite Legal and Binding. Events such as Death, Offer to Sell, Valuation of Shares, etc. will all be spelled out clearly and specifically.

No, I'm not an Attorney. The property will continue to be furnished, managed and kept up just like it has been to date. Again, I encourage you to read the Comments page. People love it  here. 

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Quick lesson: Wyoming was the 1st state to have LLCs. They just didn't market it like Delaware and Nevada. The CLOSE form was contrived several years ago to help Ranch families, who basically did business over the dinner table. No meetings or minutes of meetings required.

No members names have to be legally disclosed other than at least one person must be identified (whether a member or not - usually is) in order to have any bank account. There must be a Registered Agent in Wyoming and Profits and Losses must flow through to SOMEONE. The percentage of profits and losses can be distributed along or totally separate and different from the ownership percentages depending upon the agreement of the members. So if 'Joe' had a really good year and needed all of any write-offs available...fine. Same thing in reverse. Pretty cool.

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Area Information

Most of that is covered in the "More Information Page". Suffice to say, Meeteetse is in NW Wyoming, Park County (borders YNP), 30 miles south of Cody and 50 miles north of Thermopolis (some of the largest Hot Springs in the Country). We are smack dab in the Yellowstone Ecological System with accompanying wildlife and winters. Population 309 people.

Meeteetse has a K-12 School of approximately 110 students. Think of draw of that type of pristine education. They play 6-man football, win the state quite often and you'll find Meeteetse Longhorn HS graduates are the most loyal in America. Crazy loyalty.

We have 2 Museums, a super nice Shooting Range (free) just out of town, BY THE Rodeo Grounds. They are completing a skeet range (may be membership).

The Meeteetse Recreation district has super facilities now, but break ground on a new $1.6MM facility April 2024. The MRD rents everything from kayaks to paddle boards to cross-country skis to snow shoes, and more. They also offer Yoga Classes. And, did I mention the School has an indoor heated pool that the public can access through the MRD a various scheduled time. It's only +/- 20 miles to the Shoshone National Forest where 30-40 miles of groomed trails away the winter athlete (loose usage). The WYDOT does a FABULOUS job of keeping the roads clear and at our elevation the little snow left after plowing is gone completely within a matter of hours or a day or so max. The MRD has 2 buses and take folks at least once a week to Cody, or other places for golf in the summer, shopping year round and even an occasional trip to the nearest Casino.

Ice Fishing is a Big Deal with a huge (350-400 participants) Ice Fishing Derby in February.

We have a Senior Center for those that want cheap GOOD meals on Monday & Wednesday.

Really Good Food in Meeteetse with more opportunities coming soon.

Elevation here is approx. 6,000 ft.

There is so much more to say, but much mo betta to see it in person. 

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Rental History

We started Renting in July 2020 and through last year we averaged just over 11 'normal' rentals per month, year round, on average. This is highly skewed towards the vacation months of June - September. Additionally, every year we have had 'other' direct longer-term rentals from as little as 3 weeks to 3 months. Those receipts somehow are harder to keep up with ;). All 'normal' rentals are by Credit Card through VRBO/AirBnB both because they demand it and they offer Insurance when rented through their apps. Any opportunity for 'local' rentals will be discussed prior to commitment.

Also, we have repeat customers every year - again a reason we don't want to quit 'cold turkey'.

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Pricing & Ownership Percentages

The property has been vetted by Real Estate Brokers based upon what the property would bring as a Single Family Home. Their opinion, as of Summer 2023 is a value of $300,000 to $325,000, all but guaranteeing an immediate sale in the lower end of that range. As an investment property, it would be at least as much and likely bring considerably more.

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Up to33%  (ownership shares) are being offered, currently based upon the $300,000 number. Investment would be cash. Preference would be a single entity (person, couple, LLC)

 

Prior to fractional ownership, clear title would transferred from AA to the new LLC (WagonWheel House LLC).  Closing on the Payment to AA would coincide with, but prior AA title transfer to WagonWheel House LLC. Then Wagonwheel House LLC would be able to issue stock in percentages to be determined by future investors. As indicated above in "Future Ownership" the development and final wording of the new LLC would be thoroughly discussed and agreed upon prior to any money changing hands, any filing of Articles of Incorporation with the Secretary of State of Wyoming or any deed recordings in Park County. Then the ownership of WagonWheel House LLC will be broken into percentages of AA and 'you'.

 

Management

From a business perspective, it is strong evidence of our comfort level and confidence in the value and continued viability of the property that we fully intend to continue to Manage it.

We live here. We can and do check on it. We maintain it. We will continue to do so.

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The Benefits of such an arrangement:

1) Clearly current and past business track records indicate we have the experience, confidence and desire to remain IN Meeteetse long term and to ensure the quality of the product to both neighbors as well as current and past, repeating customers.

2) There is a 2 car attached garage that is NOT accessible to Guests, nor would be available completely for new ownership storage to any excessive degree, though there is room for some items. We use the space for storage of supplies, current and spare equipment for the property, etc. As well, we use the space for workshop area for this property and other personal projects. 

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Management Fees

" The typical management fee for full-service vacation rental property management companies

hovers around 25%, but can be anything from 15% to 40%. " 

You can find that anywhere online. 

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Obviously, the benefits to 'keep' or maintain using the garage are worth something to us.

There is no obvious benefit to offering a garage to guests, actually the opposite. In addition, no rental potential value is affected by keeping use of the garage as is: experience shows as much.

Nonetheless, use of the garage, as is, should be and must be taken into consideration. Currently guests are charged a $100 CLEANING FEE. Researching past years and factoring in the number of 'change overs' it is likely that fee remains the same but with an additional $50 taken out of any paid rental fee going to  AA to cover all management and maintenance labor (building & grounds) excepting any small amount of work that might be required by licensed professionals.

No work beyond what is currently planned (heavy maintenance of the rear) and a future new Shower stall this winter, is expected for years. Of course, all of this is open for some discussion.

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SPECIFICS : Rules of Use, Owner Reservations & Expenses

These will be covered in detail though the Operating Agreement.

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Ownership Free Days Historical Rental Trends, not good guesses are how these 3 Seasons are determined. EACH season would have 6 free dates; 33% ownership days would be based upon a 3 part year [ Prime-Secondary-Slack]. FWIW, that's the same number for the 33% share owner and us, the 67% owner. This is not a flim-flam money grab. We're fair people. We get 18, you get 18.

In both cases, you "use" them or 'lose' them. No carry-over. Hopefully those days would turn into paying Rentals. Regardless, there will be no 'credit' for unused days. Free Days cannot be reserved more than a year in advance.

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Trading/Adding Days I hope it is obvious that not only are we not taking in money when it's for personal use, but we're not making money - yet utilities go on. Should you want to add a day or max 2 days to say the 6 days in Prime Season, each day (2 max) would count as TWO (2 days) reduction to Secondary or Slack Season. EXAMPLE = add 2 days, making it 8 consecutive days in Prime Season would leave you with 4 days in each of the two 'other seasons' rather than the 6 per 'other season' you started with.

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Buying Days The cost to any owner for non-Free days would be to reimburse the other owner their share of normal quotes rates for that day. This money would come out of  general rental income BEFORE expenses and a check cut to the specific owner. EXAMPLE = say owner wants to rent a non-Free day and the normal rate for that day was $100. If the 33% owner rented that day, it would be free to them and $67 dollars would be due to the 67% owner; and vice versa.

Cleaning fees would still be charged just like every change over. 

These last minute/if available dates could be for the owner or owner's friends or family. 

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Expenses, Taxes, etc. would be taken out of General Rental Income.

Profit to be distributed per Agreement.

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There should NEVER be any type of 'cash call' whatsoever, ever. Ever.

Close Wyoming LLCs are a 'pass through' by percentage (determined by ownership if different than listed shares). Wonderfully 'independent' they Wyoming legislators are.

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 Returns They certainly will be ubiquitous and come in various enjoyable ways. Still, people seem to always think in financial terms. I find that sad, but reality. Your 18 Free-Days can save you almost $3,000 on vacation lodging per year, your travel expenses (once a year & depending upon your tax advisor) should be a write off. Furthermore you should expect a minimum of 5% return on investment yearly, while the value of the house should continue to increase. Depreciation will be addressed in specifics and upon Agreement. All told, you number crunchers could be in the 10% ROI area with an asset that cannot be 'lost' and should continue to increase in value.

As will your visits to Wyoming...... :)

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Don't forget WE believe in this House, this Investment and it's future. Otherwise we'd sell it ALL.

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Property General Information

During on-site and in person discussions, all relevant specifics and backup will be shared.

1650+SF - 3BR/2Ba - Metal Roof - 2 car attached garage (800sf+)

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Individual References will be required for Potential Owner(s).

Likewise we, too, will provide a minimum of 3 References.

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