Make 6 Figures in Months with Airbnb Corporate Housing with Dr. Chau Ong: An EOFire Classic from 2022

0:01John Lee Dumas:Light that spark fire nation, JLD here and welcome to Entrepreneurs on Fire brought to you by High Level, the all-in-one sales and marketing platform. And on today's classic episode, we'll be breaking down how to make six figures in months with Airbnb corporate housing with Dr. Chau Ong. Dr. Chau went from immigrant and pharmacist to Airbnb millionaire, founding Beyond B &B and sharing stages with top entrepreneurs while earning multiple high-level business awards. And today we talk about how to focus on financial freedom first, take care of yourself before taking care of others, how leveraging property means renting a vacant unit, furnishing it, and sub-laying on Airbnb, and oh, so much more.

0:38John Lee Dumas:And a big thank you for sponsoring today's episode goes to Dr. Chow and our sponsors. Sleep impacts everything. Your energy, focus, and performance. FitNexus Somnipods 3 are ultra-comfortable sleep airbags that block distractions, track your sleep, and deliver personalized insights to help you rest and recover. If better sleep is a priority for you, visit fitnexa.com and use code EOFire10 to save$10 on Somnipods 3 today. Stop duct taping your business together. High Level runs your website, your funnels, email, automation, scheduling, payments, and memberships all in one place. And when you sign up at highlevelfire.com, you get a 30-day free trial plus my exclusive bonus stack that includes weekly office hours with me and much more.

1:22John Lee Dumas:Visit highlevelfire.com. highlevelfire.com. Dr. Chow BNB, what is up? Say hi to Fire Nation and share something that you believe about becoming successful that most people disagree with. Yes, absolutely. Hi, everybody. First, I'm super grateful to be here. Fire Nation. What's up, everybody? I am so fired up. I actually followed John for a long, long, long time and done his journal and it's really changed my life so I am I'm a part of financial myself as well thank you so to answer the question I believe success is about getting financial freedom first and then acquiring assets most people are going out there acquiring real estate assets trying to get financial freedom however that would take like a long long time as you know to buy you know like 10 houses or something But for me, why don't I just leverage other people's properties, make a lot of income, passive income, and then I can acquire as much assets as I want over the years, in months instead of years.

2:35John Lee Dumas:And Fire Nation, that's what we're talking about today, making six figures in months with Airbnb corporate housing by leveraging properties you don't even own. So I do want to dive into this because it's a fascinating conversation. this Airbnb corporate housing mindset. Talk to us about this mindset that we can implement to start our business the right way. Yes, so the corporate housing mindset is basically we are arbitraging other people properties, leveraging OPP, other people properties, in order for us to sublet it out to companies instead of individual, like the vacation rental model. So companies have a lot more resources, they stay longer, they stay for months instead of days, so it's a lot better.

3:25And then we are able to make a difference in other people's lives through like the insurance housing where we host families when their homes get damaged and they don't want to stay in hotels for months. They need a backyard, they need a nicer place to stay. So it's a win-win-win for everybody involved. and this is how somebody that go from nothing, I have helped somebody going from nothing, not knowing anything in real estate to making 10, 20, 30K a month within a few months.

3:54John Lee Dumas:See, Fire Nation, this is why I bring people like Dr. Chow BNB onto the microphone because he comes at things from a different angle. I was actually watching some of his YouTube videos before this chat to get even a better idea about what he has going on and a lot of people, they just go for the low-hanging fruit. They're like, let me just get an Airbnb. Let me just rent it to whoever's going to pay the most money. And then all these problems happen because people will come, they rent your Airbnb, they party there, they trash it, they destroy it. And now you're just spending all this time having to fix it up, having to cancel other guests that are coming in because it's not ready now because of all the damage that's been done.

4:32John Lee Dumas:And again, that's extreme. And some people do this very well. but there's other ways to go about every single revenue stream that you can create. And you already got into this a little bit, but I do want to talk a little more about OPP. You down with OPP, Dr. Chow? OPP, man. I love OPP, baby. Okay. We're not going to go in that direction, but I want to talk about OPP leveraging other people's property. Again, you mentioned this a little bit in the last section we just talked about, but you've done this to the tune of almost six figures of passive income. So let's dive deeper into OPP, other people's property.

5:11So I was an immigrant from a third world country, came to America with nothing, right? And we thought determined to find a way. The way was for us, I thought I was go to school, get a good grade, become a doctor, and then got my MBA and retire my mom and dad who worked so hard for me for all their lives. So that's exactly what I did. And then when I graduated, I thought I was going to make it and get financial freedom and all for mom and dad. However, all I found, the American dream I fought so hard for, sacrificed everything for, turned out to be like the American nightmare. because I didn't have the money.

5:48I didn't have the time. I was working overtime and corporate America did not like did not really take care of me or the patient. They all they care about was the bottom line of how much you know money and how much they can pump out me. So I was frustrated. I was burnt out. I was trapped. And then I was determined to find a way. So I've spent years trying to find doing all kind of everything from from crypto to forex to online offline doing flying all over the world to learn from all kind of entrepreneurs to how to make things work however what i found with any kind of business is required either a lot of time or a lot of money which i did not have either at the time right um you know because i had a lot of mountain high of student loans and my mom was having cancer diagnosed cancer at the time so I was like man I gotta make something fast I want something fast I don't know how much time she has I don't want to be waiting for years to get financial freedom so and and when I searched finally I found somebody that shared with me the idea of leveraging other people's properties basically you just rent somebody else properties that's vacant you furnish it make it look nice add value to it right and then you sublet it on and the time was at Airbnb right so so that's exactly what I did so within just a year I was able to make 60 income all by myself and you know it was a struggle in the beginning however you know finally figured out and then retire you know and then be able to retire my mom retire my dad as well bought them the dream home and now helping pass past this forward helping hundreds and hundreds of people have over 200 ,000 followers nationwide.

7:34So yeah, just very, very grateful for that. So leveraging other people's property, why do we want to do that? Because it is so much faster than buying a home, rehabbing it, flipping it, making rent ready. All of that will take at least six months to a year. And not to mention, you got to save up that money. It will take you years to save up all the money to buy one home right I mean how long did it take was an average American to save and buy a home it be years so in order for you to make cash flow from that and have a six-figure income it will take like 30 years to have to buy ten homes okay so I don't I don't want people to do that why don't we just leverage ten homes we can go out and rent ten homes tomorrow we want and and put furniture in it sublet out the companies and make our six-figure and then retire and live in the peter rico and the sun is shining oh listen brother i gotta jump in here because i love this angle you're talking about because fire nation listen dr chow bnb was an immigrant and

8:35John Lee Dumas:he came over to live what i consider the old american dream and the just unsuccessful currently american dream which is hey come over go to school go to graduate school go to medical school go to law school, get into massive debts, and then, you know, spend five, 10 years, you know, at low paying jobs, because you're not making much money as a beginning lawyer, believe me, I know, I went through that route. And you're not making much money when you're just getting into being a medical doctor either. So you're living hand to mouth, you're paying off your massive debt, you're struggling, you're struggling, you're not able to really help anybody.

9:12John Lee Dumas:And this is again, years and years and years are going by years in medical school, years in law school, years getting out of debt, years in residency, years and doing all these things. And also, you're like, wait, this is the American dream. And by the way, most doctors, not happy. Most lawyers, not happy. Some are. There's exceptions to every rule. I went to law school. 90 % of my classmates, not happy. I was one of the lucky ones that could quit, that could cut ties, that could take a financial loss and get out. And I got out and I've now done what Dr. Chow's done. I took control of my own destiny.

9:44John Lee Dumas:I became an entrepreneur. I became an entrepreneur on fire. And is this an easy path? No, it's hard. But it's the path that we chose and we've created a life of freedom for ourselves now. And we want you to do the same, Fire Nation. Don't make the same mistakes that I made, that Dr. Chow made. Learn from us, listen to us. And also, if you've made those mistakes, by the way, hello, join the club, we're there. But just know, it's not too late to adjust. And we've got some more awesome stuff coming up when we get back from thanking our sponsors. Fire Nation, you know I'm passionate about freedom.

10:16John Lee Dumas:And as entrepreneurs, we spent a lot of time creating freedom in our businesses. but what about creating more freedom in our lives? We all define freedom in our own way and for many, freedom might come with having a plan B. Essentially, more options for where you could live, invest and protect what you've built without being completely tied to any one country, government or system. That's exactly what Mikkel Thorpe and the team at Expat Money help freedom-minded families and investors do. Mikkel has lived as an expat for over 25 years so he's not just talking the talk, he's lived this firsthand.

10:45John Lee Dumas:Today, he uses that experience in his network around the world to help others create their own international plan B. That might include second residences and citizenships, international real estate, or offshore legal structures, all designed to give you more options and greater control over your future. And Expat Money has created a free report to help you get started. Go to expatmoney.com slash fire to get your free report today. That's expatmoney.com slash fire. One thing I've been dialing in for over a decade now is sleep. Not only am I in bed every night by 9 p.m., but I've really perfected my sleep environments.

11:21John Lee Dumas:And one thing that's helped me do that is Fitnexa. Fitnexa is a pair of comfortable sleep earbuds designed specifically for a great night's rest. They're built to minimize pressure on your ears, even if you're a side sleeper like me, and their active noise cancellation helps block out the distractions that can keep you from falling or staying asleep. But what really takes Fitnexa to the next level is everything built in. You can listen to calming ocean waves, rain sounds, and more completely offline. with no streaming apps or subscriptions required. Fitnexa also tracks your movement and sleep patterns overnight, then gives you personalized recommendations to help improve not just how long you sleep, but how well you sleep.

11:56John Lee Dumas:You can even set a private alarm that wakes you without disturbing your partner, which my wife loves. If better sleep is a priority for you, Fitnexa helps you create the environment and routine to make it happen. Visit fitnexa.com and use code EOFire10 to save$10 on Somnipods 3 today. Fire Nation, ideas are exciting, but systems will allow you to create freedom. That is where High Level comes in. High Level allows you to build and run your entire business from one platform. Website builder and hosting, funnel and landing pages, email marketing, automation and workflows, calendar booking, payments and subscriptions, even course and membership hosting.

12:33John Lee Dumas:Everything works together seamlessly. Plus, award-winning 24-7 support, so you are never stuck. And when you go through my link at highlevelfire.com, you unlock my full bonus stack, a 30-day free trial of High Level with full access, a private 15-minute coaching call with me, weekly live office hours with me, a digital copy of my book, The Common Path to Uncommon Success, my 50 Days to Something execution roadmap, and more. Stop piecing tools together. Start building momentum. Visit highlevelfire.com and start building your something today. Dr. Chow, BNB, I want to talk about the FAST method, the FAST method.

13:16John Lee Dumas:Break that down for us. Yes. FAST is a proprietary system that I created to be able to get somebody from zero to making 10K, 20K a month within three to five months. So the F is to find, find a location, find a property. The A is to ask to sublet and then the S is set up to stand out and then the T is to tap into corporate clients. So basically find a location. How do you find a location? Group state is location, location, location, right? So I'm going to give you my secret sauce that I rarely share, only for my pay clients. But I really love this, you know, our nation here. So I want to share.

14:00is the three h's rule hotels hospitals and highways basically you want it to be where it's the intersect and highway and then when during that intersection there's four piece of pie right you want to see the piece of pie where all the hotels or the hospital focus on so you want to be focused on that that uh that piece of pie out of the four of that cross of the highway why because the hotels, the hospitals, they already done a ton of research. They are a multi-billion dollar company. They're going to come in and they're going to drop 20, 30, 100 million dollars into a project, right? Don't you think that they will done all their research?

14:38So why do we need to reinvent the wheel and do our research? Why don't we follow the whales? They know where the food is. So we are small fish. We follow the whales and we got the food, right? So the A is to ask the sublet. How do you ask the sublet? there's a system behind it so if you work with us you can leverage it's all about leverage leverage our corporate housing masterminds to have over 100 members so if I come to you and let's say you are the landlord John, I say John, we are a corporate housing professional company we have over 100 plus members in our network and we've done over 100 properties nationwide we're gonna take care of your property like it's our own right we have a combined experience of 20 years so you don't have to worry about anything and we're gonna clean it every few months every computer we're gonna have professionally clean we're gonna inspect it make sure everything is good any small maintenance issues John below$200 we're gonna fix it we're not even gonna call you meet or not you know we're gonna have everything fixed and everything good for you and now it's over$200 then yeah maybe we can talk and we can work something out right and then i like you probably so much man you know i can even pay above market premium price so let me ask you this john has any of your tenants applicants right now offer you these three things i i'm offering you right now i know the answer is now exactly right so so it's like a no-brander for us right versus like uh if you do it on your own you can is this is harder to be like they can ask you how many have you done and yeah you know you don't a license that always my first one or it's my second one right and then it's like this is the impact is not there so you gotta learn how to leverage now the s is to set up to stand out basically how do you set up your airbnb's your corporate housing so that it will stand out above the ground what kind of discount how do you price it how do you structure the deal how do you talk in a customer language so that way the clients understand that this is gonna that we're gonna to take care of them right uh and then the t is to tap into corporate clients so how do you get the corporate clients it is it was a struggle for me man so in the beginning i did it with airbnb with vacation rental right which i did well however when i scaled to 20 vacation rental i was pulling my hair out because it was too much work it's just a few days stay and there was partying, there was alcohol, there was whatever.

17:11And I was like, man, I got to do something else. And then because over the years I had corporate clients and they were the best clients because they are companies, they don't want to lose their job, they're professionals. So why don't I just switch everything to corporate clients? So the moment when I decided to do that, it was very tough because I was making a lot of money and then the corporate clients, you know it's like 30 days or more so you know but anyway I did it and I thank God I did because after that life was so so much simpler and easier because the corporate clients they stay for months instead of days so it's cut down the work by 10 times right they always pay and they pay on time and they don't you know mess around with the property because they want the they want the job right so so that's why basically for us if you are part of our mentorship we'll give you all the sources that took me seven years and you know wander out around endlessly with blood sweat and tears trying to find these sources so basically I just give it to you to my to my people all of that and you plug and play and get your property book right away now you were to do on your own you can you can contact the what we call the HR departments of hospitals of any kind of companies like construction companies good temporary housing with any kind of like insurance housing as well so you can contact them and introduce yourself to them and say hey this is what you do and if you know you know you were looking for a property then you know call me and stuff like that that that would be a much longer route probably going to take you 10 times longer but that is something you can do.

18:52John Lee Dumas:So Dr. Chow, let me break in here because you're dropping so many value bombs here. I just want Fire Nation to make sure that they're keeping up here. I want to go over a couple of things. Like it's location, location, location, Fire Nation. Like why is there a Burger King across from McDonald's? Because Burger King knows that McDonald's did the work and that's a good location. Why is there a Target near a Walmart? Same exact reason. These are some great things to be thinking about when you're going after the right properties. Now you have amazing systems. you have amazing automations that you've created to triple your income and triple your time off.

19:25John Lee Dumas:It's like you're tripling your income, but you're also tripling your time off. It's like doing the two things that we all want to do as entrepreneurs. So we can't talk about all of them because again, you go into depth with them within your community, which Fire Nation can find out more about at the end of this episode. But just maybe talk about one, maybe two of your systems and automations that you've created. Break it down. We have everything set up. So that way, when you come in, right? We have the group mastermind. So that way we can help you on a daily Monday to Thursday on a group call basis.

19:56So that way you know exactly what to do. And then we have our nation too with 200 plus members. So that way when you have a property, you have a deal, you post into there and then people will tell you if it's a good deal or a bad deal, right? If it's a bad deal, then you don't have to waste, you know, years to figure that out. You can just say, oh, it's a bad deal, boom, get out of the way, right? And then if it's a good deal, you want to jump on it because good deals don't last in real estate, right? You want to jump on that good deal, get there under contract and make money right away. So that is super incredible value right there.

20:29And then I set up with my coaches. You have a full-time coach to coach them one-on-one, coach you one-on-one. So that way you can text, call, zoom. It's not somebody that you have to email and stuff like that. It's right then and there and get your answer, question answered the right way. Now we're going to share with you our system of how to set it up, how to make it almost automatic basically, and how am I able to manage over 30 plus properties now with only a few hours a week and make many times more than I was making any doctors make, right? So how to able to do that while traveling out of the world and mastermind with amazing like billionaires, like Tony Robbins.

21:12I'm here actually in his Tony Robbins mastermind, platinum mastermind, about to go see him. And then Richard Branson or Grant Cardone. But yeah, so that's just a taste of it and love to share that with you guys.

21:27John Lee Dumas:Well, let's end with a bang, Dr. Chow. What do you want Fire Nation to walk away with from this conversation? Then give us a call to action where we can connect with you and then we'll say goodbye. I want Fire Nation to remember that one focus on getting financial freedom first because if you don't get yourself taken care of you're not going to be able to take care of other people right so focus on cash flow cash flow is king so if you're still stuck at your job or at your business and you don't know how to get out this is one of the amazing way to get out and get to your freedom fast so once you get your financial freedom then you can pursue your dream pursue your passion and whatever you want to do right because only really only take a few hours a week to do this business on the side hustle while you do your full-time thing and but this will turn into a way more than a full-time thing because you are leveraging you want to focus on how you can leverage leverage everything leverage other people time energy money make it a win-win for everybody right and then leverage other people probably other people real estate right and take care of your people take care of the of your contractors make sure we i always overpay my people i always over taking care of them why because i want my freedom and i know that i need them to get my freedom right and it's the right thing to do so uh with that being said if i can do anything for anybody please let me know because i know how it is to be frustrated to be burnt out to be trapped so i I went to be being frustrated to being absolutely at peace now anywhere I go.

23:03I went from being burnt out to have abundance in every area of my life, vitality, health, everything, because I have time to take care of myself, take care of my family, right? And I went to being from trapped to get absolute financial freedom, to travel around the world, living in my dreams, living on the beach of the world every other day pretty much. And then, you know, so you guys can find me on social at DrChao BNB, D-R-C-H-A-U-B-N-B, D-R-C-H-A-U-B-N-B. And for those who are serious about applying for our mentorship and mastermind, going on beyondbnbssecrets.com, beyondbnbssecrets.com. and to apply there.

23:50And there is a qualification process because there will have a lot of demand. And I'm sorry, but we, you know, we can't accept everybody. The three things we look for, number one, persistent, how persistent you are on scale one to 10. Number two, how coachable you are on a scale of one to 10. And number three is what, how are you a giver or are you just a taker, right? We are looking for a giver to the community so everybody can win and grow together, right? So if you are qualified with those three then please I would love to help you get financial freedom like I have helped so so so so many people and and ending I want in with a very awesome story so basically You know how I'm a mama's boy, right?

24:33So I love my mom and I'm able to take care of her now and live with her every day And I don't know how much you know long she has so I'm just super grateful. She's still with me So now I want to pass that forward to help a lot of moms or dads around the world. It's my dad too. I take care of my dad too. So basically one of my best stories of success is I was able to have one of my friends who is a mom of two and she and I have been friends for a while. I actually managed some of her properties, right? But then I was like, I really want to help you get financial freedom. So I was like, I'm willing to give up what I've managed.

25:13I know when you do it, I'm not going to make this money for managing your properties. However, I really want to help you because she was complaining, frustrating. She was a loan officer, doesn't have any time for her family and everything. So it was, you know, it was a struggle for her because she had to overcome the fear to get out her own way to join us. But once after that, within four, with first month, she done four properties. So she make 8 ,000 a month right away within within a month right that's incredible and then after now's four months in she make she have 12 properties now and she make about 20 to $25 ,000 okay so and now she's basically retired only 32 so and now the rest of her life she would go and spend time with her kids and travel go to Disneyland land or whatever, right?

26:04So it's just so amazing. And now she became a coach for me, you know, not for money because she's making way more than what I'm paying her, but she wanted to do it to help pass on the legacy to other people. So, Liz, I'd love to connect with you. Anything I do for the Fire Nation, please let me know. Thank you so much, John Lee Dumas. Thank you.

26:23John Lee Dumas:Dr. Chow, BNB. Thank you, brother, because we're the average of the five people we spend the most time with. And Fire Nation, you've been hanging out with C-O and J-L-D today, so keep up the heat. And head over to eofire.com, type Chau, C-H-A-U, in the search bar, and his show notes page will pop right up. And one more time, Dr. Chau BNB, what is that URL call to action? BeyondBNBsecrets.com. Dr. Chau BNB, thank you for sharing your truth, your knowledge, your value with Fire Nation. For that, we salute you and we'll catch you on the flip side. Awesome. Thank you. Hey, Fire Nation. A huge thank you to Dr.

27:03John Lee Dumas:Chow BNB for dropping value bombs and sponsoring today's episode. Fire Nation's successful entrepreneurs accomplish big goals. That's why I created the Freedom Journal to guide you in accomplishing your number one goal in 100 days. And we're talking step by step. Visit thefreedomjournal.com and I'll catch you there or I'll catch you on the flip side. Sleep impacts everything. Your energy, focus, and performance. FitNexus Somnipods 3 are ultra-comfortable sleep earbuds that block distractions, track your sleep, and deliver personalized insights to help you rest and recover. If better sleep is a priority for you, visit FitNexa.com and use code EOFire10 to save $10 on Somnipods 3 today.

27:42John Lee Dumas:Stop duct-taping your business together. High Level runs your website, your funnels, email, automation, scheduling, payments, and memberships all in one place. And when you sign up at highlevelfire.com, you get a 30-day free trial plus my exclusive bonus stack that includes weekly office hours with me and much more. Visit highlevelfire.com. Highlevelfire.com.