Property History

How Sweetwater Acres LLC came to hold these two parcels.

Wyoming Parcel — Acquired 2021

The 40-acre parcel in Sweetwater County, Wyoming was acquired by Sweetwater Acres LLC in 2021 as part of a long-term strategy to build a geographically diversified portfolio of Western land.

Acquisition Details

• **Acquisition date:** 2021
• **Acquisition price:** $12,001
• **Acquisition basis:** Approximately $300 per acre
• **Acquisition structure:** Direct purchase of fee simple title
• **Title company:** Wyoming-licensed title company (records on file with the LLC)

Why This Parcel

The Wyoming parcel was selected based on several factors:

• **Affordability.** At roughly $300 per acre, the property represented exceptional value compared to mountain property in Colorado, Utah, or Montana.
• **Recreation access.** Sweetwater County offers some of the best outdoor recreation in the Intermountain West — Flaming Gorge, the Red Desert, the Green River, and the Wind River Range are all within reach.
• **Tax efficiency.** Wyoming's lack of state income tax, combined with its favorable agricultural land tax classification, makes holding vacant rural land economically rational.
• **Property rights.** Wyoming's constitution explicitly protects private property rights, and the state has a strong tradition of respecting landowner freedom.
• **Diversification.** The Wyoming parcel diversifies the family's real estate holdings outside of New England.

Holding Period

From 2021 to the present, the LLC has held the parcel without development. Carrying costs during this period have been limited to annual property taxes (approximately $100 per year under Wyoming's agricultural tax classification).

In 2025, the LLC decided to test the market with a $28,000 list price (approximately $700 per acre). The property has received inquiries but no sale has closed to date. Below-target offers have been declined.

Rio Rancho Estates Lot — Family Gift

The 0.5-acre lot in Rio Rancho Estates, Sandoval County, New Mexico was received by Sweetwater Acres LLC as a family gift and was recently added to the LLC's holdings. The lot is held for legacy and appreciation purposes.

Lot Details

• **Acquisition type:** Gift (no consideration paid by the LLC)
• **Parcel ID:** R063156
• **Account number:** 1-010-076-344-183
• **Legal description:** Subd RIORANCHO ESTATES, Block 45, Lot 3, Unit 25

Background

Rio Rancho Estates is an established subdivision in Sandoval County, just north of Albuquerque, New Mexico. The subdivision was platted in the 1960s and 1970s as part of the larger AMREP Rio Rancho development. Lots in the subdivision are typically 0.5 acres and have access to municipal water, sewer, natural gas, and electricity.

Title and Encumbrances

The Wyoming parcel is held in fee simple title by Sweetwater Acres LLC, with no known mortgages, liens, or other encumbrances beyond standard utility easements, as of the most recent title search.

Annual Reporting & Compliance

Sweetwater Acres LLC files the following reports and returns annually:

• Wyoming Secretary of State Annual Report — for the LLC's good standing
• IRS Form 1065 (U.S. Return of Partnership Income) — the pass-through tax return for the LLC
• Sweetwater County Treasurer — annual property tax payment for the Wyoming parcel