Our vision is to create a sustainable and harmonious retreat that serves as a communal haven for our friends and family. We aim to build not just structures, but an enriched community where we live off the land, drink fresh water, and grow organic food. This property will be a place for camaraderie, where we enjoy the laughter and company of loved ones as we work, play, and grow together.
We plan to develop unique recreational features including chipping/putting greens, fishing docks, race tracks, an axe throwing range, and a pickle-ball court. We envision a large, open structure at the heart of our property, serving as a communal space for preparing and sharing meals. This multifunctional hub will also function as a venue for weddings, yoga retreats, meetings, and more, contributing to our revenue streams.
We intend to build approximately a dozen cabins or ADUs to accommodate our community members and guests, with the potential for long-term usage in the future. This property is not just an investment in memorable vacations or a backup plan - it is a legacy investment intended to stay in our families for generations to come.
Our selection criteria for the perfect location are multifaceted. We're considering regions like the Sierra Mountains, Idaho, or Durango, Colorado. However, our ideal location extends beyond just the region. We are seeking a property with a mild climate, natural beauty, and more flat terrain to allow for easy development and recreational activities.
Views and privacy are paramount. We're seeking a property that offers expansive views and where our community can feel immersed in nature, away from the hustle and bustle. Backing onto national or state forest land is highly desirable to provide additional hiking and recreational opportunities for ourselves and our guests.
While we want to be out in the country with lax zoning restrictions for freedom in developing our property, we still need to be within reasonable distance to towns offering necessary amenities. Furthermore, we want to be close enough to popular recreational areas to ensure our location is attractive for potential vacation rentals.
The process of selecting the right property will be thoughtful and inclusive. Dallen will lead the search for potential properties that align with our shared vision. Upon identifying one or two options that meet our criteria and potential, will share detailed information with all partners for their review and input. This ensures transparency and gives each member an opportunity to express their preferences, share insights, and voice any concerns. While Dallen will steer the process, the selection will be a collaborative effort, ensuring that each partner feels invested in our shared dream right from the onset. Suggestions and preferences are always welcome during the property hunt, reinforcing the sense of shared ownership and commitment.
Our strategy involves acquiring a large property with an existing home and further developing it by adding several cabins or ADUs. While we'll be restricted by the size of the land and local regulations, we'll aim for a location that allows us to build approximately a dozen rentals or small homes for our community. Each unit will be beautifully designed and decorated, making them attractive for both renters and potential future long-term residents.
We aim for a purchase price of the main property between $1M and $2.5M. While a typical ADU costs around $100K-$150K furnished, we are exploring bulk discount opportunities or partnerships with local builders to reduce these costs.
The funding for this venture will come from a combination of personal funds, a mortgage, and investors. The minimum investment amount for obtaining a dedicated unit is yet to be determined. Those who invest at the required level will receive a dedicated unit and shares in the LLC proportional to their investment. The plan is for me to secure a personal mortgage for the property and then sign a lease with an option to buy or a rent-to-own agreement with our LLC.
The property will be developed over a period of approximately 9 months after purchase, contingent on the feasibility of the development being confirmed by city/county authorities. Development will include the addition of ADUs/cabins, a community center, and establishment of sustainability features such as chicken coops, gardens, greenhouses, and fencing for cattle or goats.
Additionally, we will create a range of recreational facilities, such as chipping/putting greens, fishing docks, race tracks, axe throwing zones, and a pickle-ball court. These facilities will not only serve our personal enjoyment but also enhance the appeal of the property for renters, thereby increasing occupancy demand.
Our vision is to create a self-sustaining community that offers leisure amenities while also catering to our food needs, fostering a sense of interconnectedness with the land.
The properties will be managed by an on-site property manager who will live on the premises in exchange for their work. This manager will oversee daily operations of the property, including the care and maintenance of our sustainable food sources and recreational facilities. If the manager has a spouse or partner, they could potentially assist with cooking duties or managing the venue center, further enhancing the community atmosphere and functionality.
We will solicit quotes from local builders and prefab installers for the ADUs/cabins, the community center, the sustainability features, and the recreational facilities. We envision beautiful pathways connecting the rentals to the community center, recreational areas, sustainability features, and the recreational facilities.