Download our investor materials, read up on STR investing fundamentals, and get answers to the most common questions — all in one place.
Review these materials before booking a call or submitting a subscription agreement.
The full fund presentation covering our thesis, Idaho market analysis, deal structure, fee schedule, projected return scenarios, and team bios.
↓ Download DeckA concise one-page overview of Fund II terms, minimum investment, target returns, and timeline. Ideal for sharing with your CPA or financial advisor.
↓ Download SummaryOur latest quarterly analysis of the Idaho short-term rental market — occupancy trends, average daily rates, regulatory updates, and our outlook for the next 12 months.
Join Club to AccessNot sure if you qualify as an accredited investor? This plain-language guide explains the SEC definition, how to self-certify, and what documentation you'll need to invest.
↓ Download GuideCan't find what you're looking for? Send us a message and we'll get back to you within one business day.
Practical articles on short-term rental investing, Idaho real estate, passive income strategies, and fund mechanics.
A side-by-side comparison of STR vs. LTR economics in Idaho markets — including ADR, occupancy, operating costs, and net cash flow per door.
Sun Valley, McCall, Coeur d'Alene, and Boise — a data-driven look at occupancy trends, regulatory environments, and investment opportunity in each market.
A plain-language breakdown of cost segregation, bonus depreciation, and the real estate professional status — and how STR fund investors can benefit from each.
Everything you need to understand about Reg D 506(b) offerings — accreditation requirements, offering mechanics, investor protections, and how to evaluate a private fund.
Remote work, experiential travel, the death of the hotel room — exploring the macro forces driving sustained STR demand and what it means for long-term investors.
Own and manage your own Airbnb, or invest passively through a fund? A practical guide to evaluating your time, capital, and goals before choosing a strategy.
New to private real estate investing? These are the terms you'll see most often in our fund documents.
Annual pre-tax cash income divided by total cash invested. Measures how much cash you earn relative to what you put in, before accounting for appreciation.
Total cash distributed divided by total cash invested. A 2× multiple means you received $2 for every $1 invested over the life of the investment.
The annualized rate of return accounting for the timing of all cash flows — distributions and final proceeds. The most comprehensive single measure of investment performance.
A minimum return threshold investors receive before the fund manager participates in profits. E.g., an 8% pref means investors get 8% annually before carry kicks in.
The manager's share of profits above the preferred return. Aligns incentives — the manager only earns carry when investors exceed their hurdle rate.
Assets Under Management fee — a periodic charge on invested capital regardless of performance. Gem State Capital charges 0% AUM fees.
An individual who meets SEC income ($200K+/yr) or net worth ($1M+ excl. primary residence) thresholds. Required to participate in Regulation D offerings.
The annual tax form partners in an LLC receive, reporting their share of income, deductions, and credits to be included in their personal tax return.
The average nightly rental rate charged across all occupied nights in a given period. A key revenue driver for STR properties alongside occupancy rate.
Revenue Per Available Room/Night — ADR multiplied by occupancy rate. The most comprehensive single metric for STR revenue performance.