All Forum Posts by: Stephan O'Shaughnessy

Investment Info:

Other buy & hold investment in Saint Anthony.

Purchase price: $30,000
Cash invested: $30,000

We got lucky to find an RV lot at the Sand Hills Resort located on the St Anthony Sand Dunes. With RV sales and travel through the roof we figure this investment is a no brainier. The lot can be reserved by the owner or placed into the rental pool and the management company will rent it for us.

Hi Cody ...

Thanks for reaching out.  Island Park has been an excellent place for our investments. We purchased our cabin about 3 years ago and then last year just bought the lot across the street from our cabin in which we are putting on a tiny home for this summer.  

We do all short term rentals at our places! We have been fully booked 99% each year including the dreaded 2020 Covid year.  All of our bookings are for people going to Yellowstone. These bookings occur during the months of May-October. During those months we are able to make enough money for all expenditures plus extra (CASH FLOW!) for additional investments. We do not rent the property in the winter as there is not much activity with Yellowstone closed.  During winter months we use it for personal use.  

Advice:

#1) Make sure you are close to Yellowstone!  That is what people want!

#2) Watch out for greedy property managers. Some will try to take 20-40%! If you can manage it yourself that would be best.  We live close by so we do it all ourselves!

#3) Be aware of HOA's and stay away from West Yellowstone. There are many HOA's in Island Park that do not allow rentals at all. Stay away from West Yellowstone ... most of the city is off limits to short term rentals! Do your research!

#4) Caution .... we have been extremely successful but our place has water access and we offer extra outdoor amenities. I don't know how much that plays a part in the grand scheme of things.

If you have other questions feel free to reach out.  I'd love to share more!

Stephan

Investment Info:

Mobile home buy & hold investment in Island Park.

Purchase price: $45,000

Purchased the lot across the street from our cabin in Island Park. Added septic, electric, water and tiny home which we rent on Airbnb. We allow our guests to come to our cabin to access to the lake. Great income producer!

What made you interested in investing in this type of deal?

It was a property across the street from our cabin.

How did you find this deal and how did you negotiate it?

We notified the owners a few years ago we would be interested. Over time we worked with them and they finally sold to us. :)

How did you finance this deal?

Cash

How did you add value to the deal?

Yes we added septic, water, electric, and a tiny home!

What was the outcome?

Great income producing property. We still own it.

Lessons learned? Challenges?

It takes a while to get people to come out and work on raw land. Plan ahead!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

NO ... you really should do for sale by owner with everything!

I wish to ammend my previous statement.... homeowners in Idaho get 50% off their home assessed value ... but only up to $100K.  

So when shopping for a house make sure to call the county to find out how much taxes are with out the exemption.  Don't trust what the taxes are on zillow or any mls listing as it may or may not have this exemption.  Many times realtors don't even know if a home has the exemption or not.  As an investor you will pay the non exempt amount since it will not be your primary residence!

Hope that helps!  :)

Stephan

Main street is a great place for investment!  That particular home is just a block away from Broulims and Porter Park.

Investment Info:

Single-family residence buy & hold investment in Island Park.

Purchase price: $350,000

Amazing 3bed/2bath cabin on Henry's Lake. Has amazing views of the lake, Sawtelle mountain range, and even a boat dock. After house hacking the garage we made a little 1bed/.5bath apartment in garage. We rent rooms on airbnb during the summer and have cohosts/managers live in the apartment to help manage it. We use this for personal use around 10 days per year to keep tax advantage. Its my most favorite place in Idaho!

What made you interested in investing in this type of deal?

Amazing cabin on the lake! No brainer!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $42,000

A cool little 1bed/1bath home with loft and hot tub for $42000. We rent on airbnb during the spring and summer for about $100 per night. Then rent to students in the fall and winter for about $600 per month.

What made you interested in investing in this type of deal?

A 42k house house! Paid cash!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $80,000

Duplex is in St Anthony just 2 houses down from the sand bar river beach. This 1920 home was the first Airbnb listing in St.Anthony and has since hosted 1000's of guests. Amazing location for guests who want to enjoy the river. We even have kayaks and beach stuff for guests. We rent out one side for $600 per month and airbnb the other side for about $100 per night ($12000 annually) during the spring and summer months. During the fall and winter we rent to students for about $500 per month.

What made you interested in investing in this type of deal?

We got so lucky! A duplex for 80k

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $80,000

We got so lucky! A duplex for 80k! Duplex is in St Anthony just 2 houses down from the sand bar river beach. This 1920 home was the first Airbnb listing in St.Anthony and has since hosted 1000's of guests. Amazing location for guests who want to enjoy the river. We even have kayaks and beach stuff for them to use. We rent out one side for $600 per month and airbnb the other side for about $100 per night ($12000 annually) during the spring and summer months. During the fall and winter we rent to students for about $500 per month.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Sale price: $145,000

Our first home .... with extra principle payments and investing all tax returns i to this house we were able to pay it off in 7 years. We then rented it for 6 years at $800 per month. Then sold it in 2018. Never thought our first house would help pay for multiple future investments.