Ritter on Real Estate Building Passive Income Through Short Term Rentals With Michael Elefante
On today's episode of Ritter On Real Estate, we chat with Michael Elefante. Michael is a real estate investor, content creator, and entrepreneur. He and his wife became financially free at 27, just one year after investing in short-term rentals. Just 2.5 years later, they've scaled to six short-term rentals that generate over $80k per month and $40-50k cash flow per month. Michael is an avid online educator and sells a variety of resources to help others jumpstart their journey to financial freedom.
He is the founder of Airbnb Investor Academy, which launched in April 2021, and has generated nearly $1M in course and coaching sales in the first 16 months. Once Michael and his wife became financially free, they quit their 9-5 jobs and traveled in a camper van for 12 months, before settling down on Lake Keowee, SC.
Michael has participated in numerous podcasts, webinars, and in-person speaking events over the past two years. He has around 1M followers across Tik Tok, Instagram, and YouTube. His niche is short-term rentals and finding ways to achieve financial freedom. Michael preaches that anyone, regardless of age or current position in life, can achieve financial freedom in the next 1-2 years.
Key Points From The Episode:
- Michael's background in college as an athlete.
- Graduating and getting into a tech sales job. Realizing that he cared more about his time freedom than anything else.
- Grossing $80K/month through short-term rentals and $40-50K/month in cash flow.
- Leveraging local broker knowledge.
- The financials of short-term rental properties.
- Other ways to create revenue in your short-term rental.
Follow Michael @melefante6 on all social media channels.
Check us out on socials:
Production by Outlier Audio