Dr. Chau BnB Shares His Insights on Living the "NEW American Dream"
Dr. Chau Ong, aka Dr. Chau BnB, thought the American dream meant getting a good education to secure a high-paying job. His college dossier is impressive as it includes an MBA and Ph.D. in pharmacy. He calls this formidable education "8 years of sacrifice" to achieve the American Dream.
Instead, Ong experienced an American Nightmare. After just one year as a pharmacist, he was burned out, and the perceived golden opportunity turned out to be a "golden handcuff." Ong realized the new American Dream was to find success as an entrepreneur, and he had the idea of leveraging other people's property by subletting it to businesses.
This was Dr. Ong's first step to becoming a successful corporate housing arbitrage investor and mentor. He owns over 30 properties and has seven years of experience in the industry. He chose this business because once it was set up, it only required a few hours of Ong's time each week. He now makes exponentially more money than he did as a pharmacist and has plenty of time to enjoy it.
Ong calls his biggest mistake not getting a mentor sooner than he did. His pride and ignorance resulted in his having to close 10 Airbnb properties. Once found find the guidance he needed, Ong was able to retire in his early 30s after a mere two years in Corporate Housing Arbitrage. Now 37, he mentors students to ensure they do not make those same mistakes.
The former pharmacist has mentored over 100 students. What sets him apart is his specialty in corporate housing rentals. As Ong points out, it is an excellent model that business clients can generate months' worth of revenue as they tend to have more extended or frequent stays than weekend renters. Corporate clients have the added benefit of taking better care of the properties, meaning there is less work and worry for the owners.
At the core of Dr. Ong's instruction is to leverage rental properties until you have a steady cash flow. This will allow one to scale their business, add to their portfolios, generate handsome profits, and achieve financial freedom. Above all, he tells his students to have an abundance mentality.
Dr. Chau BnB has an ambitious 5-year plan. By 2027, his goal is to help one million families discover this financial freedom and for one billion people to know his name. He wants to leave a legacy of being a courageous leader who helped countless others live their best lives.
A noble goal, indeed.