This couple says they’re $12M in debt after buying 12 Airbnbs — but the risky move gave them financial freedom

Core Insights - The story of Michael Elefante and his wife illustrates a strategy of leveraging debt for financial freedom, as they have accumulated $12 million in debt while generating significant income from short-term rentals [1][3][6] Group 1: Financial Strategy - The couple transitioned from six-figure jobs to investing in real estate, specifically short-term rentals, which allowed them to cover their mortgage and generate additional income [1][4] - Over six years, they expanded their portfolio to 11 properties, reportedly earning between $50,000 to $100,000 monthly from these rentals [2][5] - Their approach emphasizes using debt to acquire income-generating assets, promoting a lifestyle that prioritizes family and travel over traditional employment [6] Group 2: Lifestyle and Work-Life Balance - The Elefantes showcase a lifestyle that includes minimal work hours, claiming to work only one to two hours a week while managing multiple properties [2][5] - Their narrative challenges the conventional fear of debt, suggesting that it can be a tool for achieving financial independence and a desirable lifestyle [3][6]