There is one thing in common between bachelorette parties, business trips, and group excursions, and it isn’t alcohol. They all need a place to stay.
The relentless influx of tourism to Nashville allows some Airbnb hosts to take advantage. Highligths.
Michael Elefante, an Airbnb and YouTuber investor, won over $ 65,000 for four properties in Tennessee in june he shared a TikTok Video Thusday.
Elefante owns two properties in Nashville and two in Gatlinburg, one of which is shared 50/50 with another investor.
Nashville is ranked No. 18 on financial firm IPX1031 “Best cities to invest in Airbnb“, compiled from data made available by the AirDNA Short-Term Rental Analysis Database. A host can earn $ 17,100 per year based on the average price of $ 209 / night.
Elefante did more than that in Nashville in just a month.
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For four vacation rental homes, Elefante said revenue was over $ 65,000, before operating expenses and debt service were factored in. He said the total cash flow for the month of June was around $ 37,500.
But why share how much he won? Elefante is about transparency and financial freedom, he said.
“Few investors will show or share transparency like I do,” the real estate investor said in the video. Elefante is also a YouTuber who shares advice on Invest Airbnb and financial freedom.
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Elefante invested in his very first property in 2019, when he was 26, he said. It is located in East Nashville and is called “Butterfly BnB. ”According to the Airbnb listing, the house costs $ 362 a night and can sleep up to 12 people.
In June, he said the four-bedroom house was booked 13 nights and generated more than $ 10,000 in revenue. Operating expenses were close to $ 3,000 and debt service was just over $ 1,000, totaling approximately $ 5,300 in cash flow.
Elefante’s second property is a two-bedroom townhouse in downtown Nashville that was booked 19 nights in June. The house, called “Southern charm“, is listed at $ 234 per night on Airbnb and can accommodate up to 8 people.
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It brought in nearly $ 9,000 in revenue, less the $ 1,900 in operating expenses and $ 1,600 in debt service, for a total profit of about $ 5,300, he said.
Elefante’s two properties in Nashville are booked for most of July, according to the Airbnb availability calendar. Elefante said it is expected to generate $ 84,000 in revenue and nearly $ 50,000 in cash flow in July.
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Daniella Medina is a digital producer for the USA TODAY network. Follow her on Twitter @danimedinanews.
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