There’s one thing bachelorette parties, business trips and group excursions have in common — and it’s not booze. They all need a place to stay.
The never-ending influx of tourism in Nashville allows for some Airbnb hosts to profit. Big time.
Elefante has two properties in Nashville and two in Gatlinburg, one of which he splits 50/50 with another investor.
Nashville is ranked No. 18 on financial company IPX1031’s “Best Cities to Invest in Airbnb” list, compiled from data made available by short-term rental analytics database AirDNA. A host can make $17,100 a year based on the average $209/night price.
Elefante made more than that in Nashville in just one month.
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For four vacation rental homes, Elefante said the revenue totaled over $65,000, before operating expenses and debt service were factored in. He said the total cash flow for the month of June was about $37,500.
But why share how much he made? Elefante is all about transparency and financial freedom, he said.
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Elefante invested in his first-ever property in 2019 when he was 26, he said. It’s located in East Nashville and is called “Butterfly BnB.” According to the Airbnb listing, the house is $362 a night and sleeps up to 12 guests.
In June, the four-bedrooom house was booked 13 nights and brought in over $10,000 in revenue. Operating expenses were near $3,000 and the debt service was just over $1,000, totaling about $5,300 in cash flow.
Elefante’s second property is a two-bedroom townhouse ini downtown Nashville that was booked 19 nights in June. The house, called “Southern Charm,” is listed at $234 a night on Airbnb and sleeps up to 8 people.
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It brought in nearly $9,000 in revenue, minus the $1,900 operating expenses and $1,600 debt service, totaling about $5,300 in profit.
Both of Elefante’s Nashville properties are booked for the majority of July, according to the Airbnb availability calendar. Elefante said he’s expected to pull in $84,000 in revenue and close to $50,000 in cash flow in the month of July.
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Daniella Medina is a digital producer for the USA TODAY Network. Follow her on Twitter @danimedinanews.
This article originally appeared on Nashville Tennessean: What can you make investing in Airbnb properties? One Nashville host said he made over $65K in June