Here in Wyoming, I'm living my dream of running a successful motel with my husband, and we're on track to make $412,000 by 2024.

In 2017, Chris and Roxanna Harwood's relationship was following a predictable pattern. They had met through mutual friends, lived together in a shared living arrangement, experienced long-distance relationships, and were now preparing to move into their own home in Loveland, Colorado.

The situation was about to escalate, but not in the typical romantic way.

Chris discovered that his father intended to sell the Wheels Motel in Greybull, Wyoming, after their relocation.

Chris felt a sense of attachment to the place because he spent a significant portion of his childhood there. However, he did not intend to return. "I didn't find it enjoyable as a child," he remarks. "It's a lot of work," he adds. "We never left. We never took a vacation. We lived there year-round."

Chris had previously discussed with Roxanna the possibility of buying the motel, but she showed little interest at the time. However, after working at a bar and for a chocolatier, Roxanna began her first real 9-to-5 desk job doing marketing for a chiropractic office. She hated it.

"I got physically ill from that. I had to go to the hospital and get fluids. I couldn't keep anything down. It was my body telling me, 'This is not working for you.'"

When the couple received the call about the motel, Roxanna exclaimed, "Hold the phone!" She knew in her gut and heart that this was the path she was meant to take, despite having only hazy memories of Greybull from her previous visit.

Chris and Roxanna, now 38 and 31 respectively, purchased the motel for approximately $483,000 in 2017, according to their statement. However, CNBC Make It was unable to independently verify this figure.

Since getting married, they welcomed their son, Ronan, who is now 4 years old, and built the Wheels into a successful business. They paid off the mortgage for the motel in 2020, they claim.

Based on 2024 revenue through August, the motel is projected to generate approximately $412,000 this year. To date, the couple has received around $115,500 in payments, which means they are on track for an estimated $174,000 in annual earnings.

In 2024, it is predicted that the motel will generate a profit of $81,000.

Roxanna is content with the couple's decision to relocate to a small town, despite the initial challenges. She describes the new lifestyle as her "little oasis" and says she loves it here.

'We were starting from the ground up'

The Wheels Motel, located in Greybull, Montana, offers 22 rooms, free Wi-Fi, and complimentary banana bread and blueberry muffins baked daily by Roxanna. It is situated in the Bighorn Basin, approximately 100 miles from the east gate of Yellowstone National Park, 100 miles from the nearest interstate, and a two-hour drive from Billings.

In the 90s, Chris' father bought the motel from his parents, relocated the family into one of the buildings, and began managing and expanding the business. As a result, Chris was familiar with the type of work required to run the motel.

He spent most of his childhood in this place either cleaning rooms or constructing the motel.

Chris spent four years in the Navy after graduating from high school, where he discovered the significance of saving money. "The Navy had several programs for saving portions of your paycheck," he remarks. "The key to our financial success is taking money out of your own hands and placing it somewhere you can't access it."

Before returning to Wyoming to pursue a degree in graphic design, Chris worked for an aerospace communications firm, Harris. During this time, he met Roxanna, who had graduated from Colorado State with a degree in sociology and a minor in business. After finishing her degree, Roxanna joined Chris in Laramie.

As soon as they purchased the motel, they would put everything they learned into action. One of the buildings required a new roof. The motel needed a new sign. Water heaters were malfunctioning. Carpets needed to be replaced. The motel required a new review system. The washers and dryers were not functioning properly.

Chris estimates that the couple spent more than $100,000 in the first two years refurbishing the place, starting from scratch.

A 'Monday through Sunday' job

Despite having successfully launched the motel, the Harwoods' work was far from over. With the motel open seven days a week and only two full-time employees, Chris and Roxanna, their workload remained substantial.

""From Monday to Sunday, at 5:30, the alarm goes off and someone must get up to prepare coffee," Roxanna states."

The carafes that guests can use are set to expire. The banana bread and muffins were prepared the previous night.

In the fall, Ronan attends preschool, while in the summer, he spends time with Chris' grandmother, who moved in last year, while Chris and Roxanna work at the front desk.

In the summer months, the couple cleans 10 to 15 rooms every morning, but Chris admits it's challenging to focus on a single task.

"If I receive a phone call while cleaning a bathroom and need to make a reservation, I must return to the front desk. If someone rings the doorbell, I must return to the front desk. If someone catches me in the parking lot, I must answer questions and speak with them."

Roxanna handles linens and surfaces while Chris tends to clean bathrooms. Grandma does a lot of the folding. Chris' father, who lives on the property, chips in some vacuuming and making beds.

Chris prepares lunch for the family at noon or 1 p.m., followed by a collective break. "If we can manage two to three hours of relaxation in the middle of the day, that's our weekend," Chris remarks. "We usually take a nap and engage in personal hobbies. By 3 or 4 p.m., the doorbell rings."

The Harwoods maintain an open-door policy at their motel, even after the office closes at 9 p.m. It's not uncommon for one of them to check someone in as late as 2 a.m.

In addition to routine maintenance, the motel requires additional work in case of emergencies such as a broken water main or malfunctioning ice machine. Chris and Roxanna strive to keep expenses low by doing as much work as possible themselves. Last year, they painted 70% of the exterior of the motel before bringing in professionals to complete the remaining tasks.

How they spend their money

The profitability of the motel significantly impacts the Harwoods' personal finances, and they adjust their expenses accordingly.

Chris recalls that at the beginning of the motel business, they were not earning much.

In 2022, the partial closure of Yellowstone National Park negatively impacted the motel's bookings.

In many years, including 2023, the motel's expenses exceeded revenues. Last year, the couple paid themselves only $44,000.

This year, with fewer repairs than anticipated, things are looking brighter. "This will be one of the few years we've shown profitability with the motel," Chris says. "That's a huge accomplishment for us."

Here's how the couple spent their money in August 2024.

• Household: $1,982 on routine expenses
• Food: $1,522 on groceries and dining out
• Camper: $1,296 on expenses related to a camper they purchased this year
• The total cost of insurance for auto, health, homeowners, life, and camper policies is $1,054.
• Discretionary: $1,046 on health and wellness, clothing and entertainment expenses
• Roxanna's Acorns account receives $800 in savings and investments, while Chris makes larger, irregular deposits into other accounts.
• Unexpected expenses: $333 on auto parts and a trip to the vet
• Phones and Wi-Fi: $333
• The total monthly cost of subscriptions and memberships, including Amazon, Hulu, Lovevery, Microsoft, Patreon, and YouTube, is $289.
• Gas: $157

Americans will often overlook the absence of housing in a budget. The couple took out a mortgage to purchase the property and it took them several years to pay it off. Now that the motel is paid off and the family resides in a house connected to the property, they do not have to pay rent or a mortgage. The Harwoods cover their own Wi-Fi expenses, but utilities are included in the business costs.

Roxanna admits that everyday expenses can accumulate, especially in areas where shopping is challenging. Although she tries to buy locally, when she doesn't have the time to go to Billings, she uses Amazon.

The couple owns a 1995 Ford F-150, a 2022 BMW X5 M50i, which they plan to pay off by the end of the year, and a $25,000 camper that they bought this year.

Roxanna says that the latter was a big get for a family that can occasionally feel cooped up.

"The Jayco camper is crucial for me because it allows us to disconnect from the motel and venture outdoors," she explains. "There are no phones or doorbells in the mountains, so being in nature and barefoot is essential for me."

'I'm really proud of us'

Chris and Roxanna are saving for the future, but they're not entirely sure what that entails. Chris plans to invest approximately $300 per week into the stock and crypto markets, with occasional larger investments when more funds become available from the motel's earnings.

The couple has approximately $206,700 invested in brokerage accounts and cryptocurrency exchanges, with a goal of increasing that amount to $2 million by age 50. Once they reach this milestone, they plan to sell the motel and its attached homes to fund their retirement.

"Chris expresses that they frequently discuss the possibility of selling and relocating, but they struggle with determining their next steps and destination. He ponders if this type of business may be best suited for his son to inherit in the future."

There is still much work to be done at the motel.

"Chris states that they won't be expanding the motel beyond the current number of rooms, but they plan to renovate and modernize everything while possibly adding more online amenities. He mentions his desire to install steam rooms, a theater, and eventually expand the playground."

Roxanna, as the secretary of Greybull's Chamber of Commerce and a painter, has been working to revitalize a small town that felt stuck in time. Her goal is to transform it into a destination, rather than just a place to pass through.

Roxanna is proud of the decision to relocate here and looks back on it with no regrets. "I'm really happy we did what we've done, and looking back on it all, I'm actually really proud of us," she says. "It's sometimes hard to maintain perspective and like, look how far we've come. This place is actually really cool now."

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