Conmigo Vacation Rentals
Property Management

Investment Projects: Tiny Home Village

Valley Views Tiny Homes & RV Park — As Featured on HGTV

This unique Tiny Home Village and RV Park located in Irwin, Idaho has 11 amazingly designed units and a 2-unit house on 1.5 acres. We are under contract for this property and are excited about the opportunity it offers.

Deal in a Snapshot

Units: 13

  • (1) Duplex House (2 units)
  • (3) Semi-Trailers Converted to Tiny Homes
  • (1) Traditional Tiny Home
  • (4) Glamping Tents with Attached Full Bathrooms
  • (3) Glamping Tents with Detached Full Bathrooms

Other Buildings/Structures:

  • (1) Storage Shed
  • (1) Storage Garage
  • (1) Bathhouse Trailer with 3 Full Bathrooms
  • (1) Lounge/Kitchen Area — Converted Garage

Opportunity Areas:

  • (3) Unused RV spots
  • (3) Glamping tent spots
  • Rent Duplex During Winter
  • Boat Storage Rental

Full Property Walkthrough Video

The Nitty Gritty

Location

3827 Swan Valley Highway, Irwin, Idaho

The City of Irwin lies between the Targhee and Caribou National Forests with the Snake River running through the middle. Irwin is the gateway to the Palisades recreational area, offering world-class fishing on the Snake River and Palisades Lake, plus miles of trails by foot or horseback.

  • 58 miles to Grand Teton National Park and Teton Village
  • 63 miles to Jackson Hole
  • 100 miles from Yellowstone National Park
  • 50 miles to Grand Targhee
  • 29 miles to Victor, Idaho and Teton views
  • 1 mile from Palisades Reservoir
  • Half a mile from fishing rivers
  • 2 miles from Falls Creek Waterfalls

This area draws campers, hikers, fishers, and national park visitors every summer. Current summer occupancy for this park runs at 90%. Property values in this valley have increased 31.4% since April 2023.

Zoning

The property is zoned commercial. The current seller has already won the legal battle to operate it as a Tiny Home Village. Future city legislation is planned to prevent all new RV Park development in Swan Valley — only existing parks on the highway can expand onto adjacent land. There is an opportunity to obtain a first right of refusal on the neighboring plot, adding 2 acres and 15-25 RV spots.

View the Units

Current Income and NOI

The property is currently listed on Airbnb/VRBO only. Gross rental income for the past 3 years:

  • 2021: $132,905.91
  • 2022: $117,848.23
  • 2023: $128,012.59
  • Average: $126,255.58

Current Expenses: $38,338.25
Average Current NOI: $87,917.33

These earnings are over 4.5 months, as the park is currently open only mid-May through September. This averages to $28,056.80/month while open, or $10,521.30/month annually.

Additional Income Plan

We believe we can increase current income by 15% during high season by:

  • Listing on multiple OTAs (currently Airbnb/VRBO only). We will add Marriott Bonvoy, Booking.com, Google, and our direct booking site.
  • Renting the 3 empty RV spots at $1,600/month each, or placing 3 more Tiny Homes in those spots.
  • Adding 3 smaller tents in open space at $60/night ($500 each to buy and set up — paid off in 8 nights).
  • Remaining open through October for an extra month of income.
  • Renting one garage for boat storage at $100/month.

Additionally, we will add winter income by renting both units in the house (currently unused in winter):

  • One side at $1,800/month, the other at $1,000/month — an extra $19,600 annually.

Projected Gross Income: $180,513.32/year
Projected Expenses (including management): $54,260/year
Projected NOI: $126,253.32
Projected Cash-on-Cash Return: 14%

Future possibility: the neighboring landowner is willing to sign a first right of refusal on her adjacent land, adding approximately 2 acres and a single-family home.

Funding Needed

Financing will be secured by Conmigo Vacation Rentals. We are looking for a partner to fund the down payment.

  • $350,000 needed
  • Purchase Price: $1,200,000
  • We are under contract and hope to close by July 31, 2024.

What we offer partners:

  • 6% annual return paid out monthly
  • 15% equity in the property

Why Work With Us

Conmigo Vacation Rentals started by managing vacation homes owned by others. Over the past year we have moved toward owning the homes we manage, focusing on already-legal, multi-door vacation rentals near National Parks.

In the past year alone we have:

  • Acquired and renovated a 7-door boutique hotel in Kanab, Utah.
  • Acquired 55 doors in syndication with emphasis on marketing and management.
  • Taken on management of Lower Kenai Lodge in Kenai, Alaska.

Benefits of partnering with us:

  • Management is already in place. Due diligence on income opportunities is done before a deal is brought to partners.
  • 6% annual return on investment paid out monthly.
  • Equity offered in the property.
  • Truly passive investment — we handle every aspect of the property.
  • A turnkey vacation rental property you can visit.
  • We manage all accounting.
  • Full tax benefit of the property available for the first year.
  • Discounted management: we cover hard costs and 5-10% commissions. Typical area commissions are 25%.

The Work Behind the Park

Started with an RV Park and House

When current owners Shane and Rachel decided to start a vacation rental, the city pushed back hard. Shane's solution: buy the RV Park across the street from the Mayor to kick off the project.

Featured on HGTV

The first Tiny Home built on the property was featured on HGTV: Tiny House Big Living. Watch the episode.

Reefer Trailers

Shane and Rachel purchased old refrigerated semi-trailers and completely gutted them. As Shane put it: "The yellow trailer had, no lie, 18 lbs of pigeon poop when we bought it."