FROM THE DESK OF THOMAS A. SLATER
Welcome to the first edition of The StepsAhead Letter
This newsletter exists for one reason: to keep you informed. Whether you're already a limited partner in StepsAway STR Fund I, actively evaluating a commitment, or simply watching how this thesis develops — you'll get the same unfiltered view of the market, the fund, and the businesses that back it up.
We're building something durable and tangible StepsAway from one of the most visited national parks in the country, with a team already operating on the ground. This letter will show you how we’re doing it.
— Tom Slater
President & Fund Manager, StepsAway Asset Management, Inc.
The Familiar West Entrance to GNP
FEATURE:
Why Glacier? The Case for Montana's Most Underinvested STR Market
Glacier National Park drew over 3 million visitors in 2024. It consistently ranks among the top five national parks in the country — yet the short-term rental infrastructure surrounding it remains remarkably thin compared to peers like Moab, Asheville, or the Great Smoky Mountains.
That gap is the opportunity. Demand is established and growing. Supply constraints are structural — restrictive zoning, limited buildable land, and a compressed construction season make new inventory slow to come online. The properties that do perform are not competing on price; they're competing on experience and proximity.
StepsAway funds target residential properties within striking distance of the park's west entrance — homes that can be renovated, branded, and operated at premium nightly rates using a team that is already on the ground. Rafter MT Construction handles the renovation. StepsAway Montana manages the guest experience. The fund holds the equity and the long-term appreciation.
"A destination that 3 million people a year already choose, with a team already operating in it. That's not a bet on discovery — it's execution on a market that's already arrived." |
In future editions, we'll walk through individual deal economics, renovation cost breakdowns, and occupancy data from active properties.
FOCUS:
The Property at 127 1st St W - West Glacier - Montana
LOCATION!! Located less than 2 miles to The Village of West Glacier, half a mile to the paved walking & bike path and only 3 miles to the entrance of Glacier National Park.
This is the perfect home for family and friends. Offering a large layout for families, outdoor decks and a large back yard. Located in a small, private neighborhood.
This is a perfect mountain retreat, offering the ideal blend of comfort and convenience for avid hikers, nature enthusiasts, or simply those seeking a peaceful escape.
The Inviting Front Porch & Deck
Key Features
Prime Location: 3 miles to Glacier National Park entrance, 2 miles to West Glacier Village.
Spacious Living: 2043 sq ft home with a full finished basement—plenty of room to relax!
Flexible Sleeping: 2 King beds & 4 Twin beds across 3 bedrooms & a family room.
Fully Equipped Kitchen: Modern appliances, ample counter space, coffee bar (Keurig & traditional).
Secluded Backyard: Private tranquil space with gas BBQ & picnic table.
THE VERTICAL:
Rafter MT Construction
When a property needs renovation before it can operate as a premium short-term rental, most sponsors go to market for a contractor. That introduces cost uncertainty, scheduling risk, and a third party whose reputation is not tied to the outcome in the same way yours is.
Rafter MT Construction, led by Matt Hartmann out of northwest Montana, is our answer to that problem. Already trusted by private homeowners and property managers across the region, Rafter MT specializes in renovation, water damage restoration, and the finish work that makes a rental photograph well and hold up under heavy guest use.
The value to fund investors is straightforward: faster timelines, controlled costs, and a contractor whose interests are aligned with the fund's — not just the current project. That alignment is structural, not contractual, and it's not something you can replicate by hiring out.
Another Garage to Game Room Conversion - Prepping the Walls
The Same Conversion - Drywall In-progress
ON THE HORIZON:
Date | Updates |
|---|---|
April 30, 2026 | StepsAway STR Fund I - Capital Call |
May/June 206 | First-look at 2026 Season Financials |
July/August 2026 | Peak Season Financial Update |
October/November 2026 | Season Financial Wrap-up |
INTERESTED?
Take the Next Steps
We're in active fundraising for StepsAway STR Fund I, LP. There is still time. Simply request a link to the Data Room. If you’re interested, send Tom an email to discuss the investment opportunity. If you are still interested and qualified, we’ll send you a link to your private Deal Room.
Email: [email protected]