Does anyone have experience with Dr. Chau Ong Beyond BNB Secrets MTR Rental Course? It is a corporate housing arbitrage mentoring program.
I'm about to sign up but wanted to do my due diligence I want to check with people here if this is legit and if the program is worth the money they as asking for. There are a lot of influencers, courses, and coaches out there who only want to make money by selling subpar information that doesn't help people.
Please let me know if you have any experience or information on this particular program or a better program or coach.
We are attempting to collect a $572,379.35 judgment against Chau Ong for investment fraud in Texas.
The victims are a family in Texas that loaned him their life savings.
Any leads on his financial assets would be appreciated and greatly help this family. Check Denton County TX Case no 24-4441-158. Please contact us if you can help this family recover their life savings.
Hi Rabya! I just spoke with someone at a monthly MTR meet up I host last week who took this course. I'll DM you if you'd like to connect with her
Hi Allen, obviously it's been a while since the original post but we just met with Dr Chua and were considering his program as well as other in the market. Could you connect me with her as well by chance? Thank you!
Hi Rabya! Yes, I am one of his student and I can say this is my best decision ever. Yes, at first it is hard to find renters but because of my patience, trust, perseverance and dedication, I am now living my best life and living financially free.
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
2y
I'm coming up on my first year of operating an MTR. I can't see what you would need a course to teach you that you can't learn by reading 30 Day Stay; listening to the BP podcast episodes with Sarah Weaver, Zeona McIntyre, and Jesse Vasquez; and hanging out in MTR forums/Facebook groups. I did have experience operating LTR's to bring to the table, but even if you don't, it's not that much more complex. The biggest hurdle I see with arbitrage is developing a pitch to use when approaching landlords, which you can probably do with a little research on BP and ChatGPT. I strongly recommend getting involved with your local REI meetup groups so you can work out your pitch with help from other landlords.
I hope this doesn't come off the wrong way without tone or facial expressions behind it. I'm not saying it isn't challenging or hard work because it definitely is. But it isn't rocket science either.
I'm coming up on my first year of operating an MTR. I can't see what you would need a course to teach you that you can't learn by reading 30 Day Stay; listening to the BP podcast episodes with Sarah Weaver, Zeona McIntyre, and Jesse Vasquez; and hanging out in MTR forums/Facebook groups. I did have experience operating LTR's to bring to the table, but even if you don't, it's not that much more complex. The biggest hurdle I see with arbitrage is developing a pitch to use when approaching landlords, which you can probably do with a little research on BP and ChatGPT. I strongly recommend getting involved with your local REI meetup groups so you can work out your pitch with help from other landlords.
I hope this doesn't come off the wrong way without tone or facial expressions behind it. I'm not saying it isn't challenging or hard work because it definitely is. But it isn't rocket science either.
I agree with you! I'm 100% self taught through 30 Day Stay and learning from my peers and mentors in the space. I realize that everyone will run a MTR business differently and I prefer to learn from different operators and develop my own technique
We are attempting to collect a $572,379.35 judgment against Chau Ong for investment fraud in Texas.
The victims are a family in Texas that loaned him their life savings.
Any leads on his financial assets would be appreciated and greatly help this family. Check Denton County TX Case no 24-4441-158. Please contact us if you can help this family recover their life savings.
I'm coming up on my first year of operating an MTR. I can't see what you would need a course to teach you that you can't learn by reading 30 Day Stay; listening to the BP podcast episodes with Sarah Weaver, Zeona McIntyre, and Jesse Vasquez; and hanging out in MTR forums/Facebook groups. I did have experience operating LTR's to bring to the table, but even if you don't, it's not that much more complex. The biggest hurdle I see with arbitrage is developing a pitch to use when approaching landlords, which you can probably do with a little research on BP and ChatGPT. I strongly recommend getting involved with your local REI meetup groups so you can work out your pitch with help from other landlords.
I hope this doesn't come off the wrong way without tone or facial expressions behind it. I'm not saying it isn't challenging or hard work because it definitely is. But it isn't rocket science either.
No kidding this is as simple as it gets.. just advertise that you accept shorter term leases and riase your price.. we have been doing it in Vegas for years.. Insurance companies are always looking for MTR that are furnished like ours never stays vacant more than a week.
We are attempting to collect a $572,379.35 judgment against Chau Ong for investment fraud in Texas.
The victims are a family in Texas that loaned him their life savings.
Any leads on his financial assets would be appreciated and greatly help this family. Check Denton County TX Case no 24-4441-158. Please contact us if you can help this family recover their life savings.
Specialist · Austin TX · Member since 2018 · 82 posts · 55 votes
1y
I'm just going to offer my opinion on Arbitrage in general. There are many reasons why I haven't pursued the arbitrage model, but mainly that it takes too long for the ROI after investing all your time and effort into buying furniture and renting and paying utilities.
Let's say you rent an apartment for $1500 and you spend $7000 to furnished it. Utilities cost $150 per month. Your monthly corporate rental rate is $2800 per month and you have an 80% occupancy rate. Let's say you split the cost of furniture over a 12 month period amortization rate.
After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80
You're not making money.
I personally believe that a better way to jump into mid term rentals is to take a course on buidling a property management company or cohosting business where you bring your skillset to the table without the intial investment into all the furniture and leases. The risk is far lower, with a better ROI.
OR you can consider learning about government contracts and performing lease matching.
Dr Chau overcharge for a course that doesn’t deliver More than 6K was taken. The coach approved a property in Hawaii, location and income plus expenses. He said it was a prime location. Only to FIND out the property didn’t perform well at all. Then Dr. Chau said the property didn’t meet the criteria. He was paid to find homes that produce wealth not put someone in debt. All my savings gone. Two weeks later one of the coaches I saw in the past with him wasn’t present for classes anymore so I reach out to find out why. He told me the truth. Chau’s companies and plans failed except this one for MTR. And had to fire the coaches. Chau said to me “I figured it was best for me to do it all myself and give the right information”. That’s a lie! Other businesses failed and he is only holding on to one. One where he is using fake students for success videos, not real results. They get paid to talk. If Chau has any heart he would returned all my money to me. He didn’t mention god in the past. Now you can see on his sites he believes in god. Be careful because that might be a trap. Not his actual belief. Learn from me so you don’t have to go through the pain. I have someone with disabilities as my dependent because our parents passed away, and was seeking help to create wealth and better future for my brother. It turned out to be the opposite with Dr Chau. Be careful who you trust. Due you homework before giving a person your hard earned money. God bless.