Dr. Chau Ong - Unlock The Secrets of Real Estate Arbitrage

Welcome back to the Casey Adams show. Today I am joined by Dr. Chao Ong, a prior pharmaceutical doctor. Now turned to a corporate housing expert. How are you doing today? Thanks so much for coming the show.

Oh, I'm doing amazing. Thank you so much for having me. Thank you everybody.

Of course. So you know, with, with your background, I find it so interesting to, to understand the, the massive transition you made in your life. And I know we talked about corporating corporate housing prior to, you know, being a pharmaceutical doctor. For those that may not know what corporate housing is, what is that before we really dive into your story?

Absolutely. Corporate housing is where we rent out to companies such as it, construction professionals, relocations, insurance, housing, anything where there's a companies that paying and they pay well and they stay longer. The average stays three to six months and we charge them double the market rent.

And this is for like Airbnbs or just. Does it have to be Airbnb specifically or. It can be any type of short term rental?

Yeah, it could be any type and it's actually a new, this amazing new trend is called midterm rental. Not short term. Short term would be less than 30 days and I've done that a lot before. It's a lot of headaches. So midterm, you're back and forth. Exactly. Midterm, three, six months. And it's corporate clients so you don't have to worry about the vacationer. People are going to trash your place or squatters, all of that.

Such a good market to be in.

Yes, yes.

What, what led you to being in corporate rentals and more. So get into short term midterm rental business. Coming from someone that was once a pharmaceutical doctor, what led you to then making that transition?

Yeah, absolutely. Great question. So I was an immigrant from Vietnam. We came here, all four of us had to sleep on one mattress. My mom, my dad, me and my sister. And we had to do whatever it takes to survive in the worst neighborhood possible. So imagine, you know, my mom and dad crying themselves to sleep every single night just to figure out how to put food on the table and to learn English. So I promised myself that I would do whatever it takes to get that American dream, get that financial freedom. So then I went on, I got, you know, brainwashed by the social media, by every, everything that you need to go to school, get good grade, become doctor, lawyer. So that's exactly what I did. I become a pharmacist, eight years of professional school, PhD, doctorate. Yes.

Wow.

Half a million dollars of tuition, move across the country, sleep on basement, eat ramen noodles for eight years. No, live, Live the student broke lifestyle. But then I found out that I, when I got out, I work really hard, I become one of the top pharmacists for a Fortune 5 company in the country. And however, what I got rewarded is more KPIs, you know, key performance indicators. Right. More matrix, less freedom. Because then one, they know that they can suck more of the blood out me. So they will cut out like 30 of my help. So I was like. And I was like, this is. I was so frustrated, so burnout and so trapped as a corporate slave. Yeah.

Wow, man. So as someone, you immigrated. How old were you when you came to the US?

So I came to us when I was 10.

10 years old?

Yes. Yes.

And did you. Was that Dallas that you came to originally?

I came to South Carolina. South Carolina, yes, yes, yes, yes.

So you growing up, what did your life look like from 0 to 10 prior to coming here to the US?

Yeah. So in Vietnam, our family was very poor in the beginning. So it's literally we had to sleep like 15 people in one small house. It's not like American house, you see, it's more like a shack, you know. And then, and then we made it. My mom made it in real estate in Vietnam. She actually racked to riches.

Wow.

But then we dropped everything to come to America for freedom because, you know, American is a land of free. You know, Vietnam is still a communist country, unfortunately. So we had to. There's a lot of restrictions. But anyway, so we come here, became that. And that's like. After I got everything that society thought was successful, you know, the white coat, the fancy car, the title, all of that. I felt so. I felt so trapped and I felt so, like helpless because I see the future that people work like 20, 30 years, my senior, my pharmacist, mentor, and they were just the same thing over and over again. And so just not, not free. So what's. So I realized that without financial freedom, are we really free?

No.

Right?

Yeah.

So I was like, how do I get financial freedom? How do I get financial freedom? So I try everything from, you know, crypto to trading Forex to ebay to Amazon drop shipping, anything you can think of. Mlm, everything. But I found out that you need like a full time job to do most those things, or if you want to do into like commercial real estate or flipping houses, you need like hundreds of thousands of dollars, which I did not have. Right. So I was like, how? How do I do this? So I met somebody Gave me the idea of leveraging other people property by renting them and then just re. Rent it out. So back then, this was 10 years ago with Airbnb. Yeah, I did well with it. I scaled to like 23, you know, Airbnb short term rental early.

Yeah, before this was a big.

Exactly. 10 years.

Wow. Because Airbnb, I was actually just listening to a podcast with the CEO of Airbnb, Brian Chesky.

Yeah.

And. And what, what year was it when the Airbnb came out? I don't remember.2010.

Yeah, that's fine. That's fine. But like, so. So then I got my freedom, so I retired my mom and dad. That's great. And 2008. Yeah, exactly.

Yeah.

In the midst of this, my mom had had cancer when I was a pharmacist. So I was like, I got to figure this out fast. Right? So I don't have time. Because traditional real estate plan is like 10, 20 years. You know, you save up, you buy one house every three years, you buy another house, another three years. I was like, it's gonna take 30 years before I get 10 houses to make 10k a month, you know, So I was like, I don't want to wait 30 years. So this. You can just leverage somebody else property. Because this is the crazy thing. Does Airbnb own any properties?

Nope.

Nope. Does Uber own any cars? Right. No. So why do we need to.

Yeah, yeah.

Right. And they're like the biggest, baddest company out there. So it's called Leveraging is a key. So now fast forward. I got my freedom, but then I found out I got more of a. More of a hefty job by managing a bunch of short term rental.

Yeah.

So I was like, who is my ideal client? Right. Who is my best client? These are the corporate professionals who stay, they pay well, they take care of the property, they, the company will pay, and they stay for months at a time instead of days. So then I, when I switched my focus to that, it changed my life because now I get financial freedom. Not just money, but time freedom, location freedom, relationship freedom. Because I have time to hang out with you amazing people. Right?

Absolutely.

So, yeah.

Wow. So you know Airbnb, I know you're talking about that. Founded in 2008. So when did you get your first property? Take us back to that time. You're working full time as a pharmacist. Correct? You. And you're trying to figure out what can I do? You're trying all these different things. When did you get that first Property. And how did that change not only you, but your thinking. Right. Coming from someone that really went all in on, as you said, the American dream. Go to school, go to college, go to school for eight years and go through that process with so much commitment. What led you to, you know, it's one thing to recognize the situation you're in, whether that's a situation you don't want to be in or you are, and say, I need to make a change. When you got that first property, what changed inside? And what was the, I should say the official, the official pivot of hey, I'm not going to do this anymore, I want to go all in on, you know, corporate midterm rentals. What was that switch for you?

Yeah, absolutely. So my first property was actually I bought the property. So I did, I did long term rental, which I was cash flowing. Nothing after they move out. It's more like negative cash flow. So. And then I switched to short term. So I was cash flowing about, about 500 to a thousand bucks a month back then, which is okay. However, I was like, how do I buy like 10 more of these? Which is going to take me like 30 years. Right. So no. So when I, when I leveraged the property, my first time that I leveraged property was so funny. I actually rented a two bedroom apartment under my name. Basically I'd done everything wrong.

I rented an apartment.

Yeah. I rented out under my name. I did not tell the landlord I was just doing illegally. Yep, yep. I move. I try to move everything myself. Get my mom, my dad, my sister involved. We moved to like third story. It was like, it was crazy nightmare.

Oh my God. I'm sure you learned a lot in that process.

Oh yeah, oh yeah. Oh yeah. I learned, I learned a ton. And through the years, you know, I actually shut down more like 10 of them because I done some stupid stuff. But. But I learned the nightmare. So that way now I can teach my students not what not to do and just give them the blueprint on what to do. Right.

Yeah.

So that's the first pivot is when I realized that I can leverage other people property. And, and then I went on to rent out houses, which is a lot better. Three bedroom, four bedroom is the sweet spots, you know. And then the other pivot is when I switched completely to. Or not completely, but most of it to corporate housing.

Yeah.

Which really saved my butt during the pandemic. So a lot of listener here would know that, you know, if you went through the pandemic and you survive with airbnbs you are a hero.

Because that's such. It's a very interesting point you bring up, because I think I'm. I'm not in the Airbnb business, but I have friends that are, and I know people that are now, including yourself, what was that time like for you? You know, world shuts down, travels halts more in a way that the world has never seen before. What. How did you play your cars? What were some of the ideas and thoughts that you had? Because by that time, I'm guessing you're. You're so in it, right, Business it is. And that's obviously a massive. It's interesting. So when I was listening to that podcast from the Airbnb CEO, people were telling him, like, hey, you may be going out of business, right? This might lead to bankruptcy. Like you have to withstand. And whether that's Airbnb or being on the. The leverage side of it, yeah, it was a hard time for a lot of people. So for you, what did you do in that. What were you thinking during that time in 2020?

Yeah, absolutely.

Beyond.

Absolutely. Great question. It's all about mindset, right? So one of my mentors, Tony Robbins, and he's talking about 80% is mindset. So I'm blessed to be at his home, in his studio, all of that. And he actually interview Airbnb founder recently in one of one of the business mastery trip that we did. And Airbnb founder said that, yeah, we lost like 80, 90 of the business overnight. So I was like, dude. And I was like, man, yeah, it was really scary. I don't know what the hell. Nobody know what's hell going on. Can we cuss on this? I don't know.

Yeah, you can. Okay. I'm sorry.

But, yeah, like, so. But fortunately, God blessed me because I had switched to corporate housing already, so I only lost like 20 of of my bookings. So it's like amazing because, like, you know, Most Airbnb, like 80, 90% and even big company with thousands of property, they had to go bankrupt literally in that month. Wow. So. So I learned a big lesson there. And thank God, who switched to corporate housing. That's why I'm so passionate about this now, because I see so much regulations going down and people trying to, you know, suck all the blood out of small entrepreneurs, you know, and regulations and hotel lobbying and all of this tax and all this BS gotta deal with. So. But corporate housing is different. You don't have to deal with all that because it's longer than 30 days, so they can't really say short term. They can, you know, charge you the hotel tax, you know, most of the time. And then, you know, you don't have to worry about the hotel trying to kill you and all of that because it's, it's more midterm, you know.

Yeah.

Yeah.

Wow. So the corporate clients, I mean, it seems like that is just such a. Not only a great model, but what are some of the, you know, people are out there that are either thought about doing Airbnb or that are in it already that aren't doing the corporate side of it. What does it take to make that pivot? Because you said you did that pivot and everything changed. Like, what is the mindset around changing the model for someone that is in the business? Or maybe students that you work with, going from like, hey, I'm renting it out into individuals short term to then, hey, I'm going to do this on, on the other side of the spectrum, corporate, when it comes to the relationships and just getting the actual leads, I'm just so curious as someone that isn't in this, and I'm sure a lot of people are interested as well. What do you tell students that you work with? But also, what did it look like in the earliest days of getting those first corporate clients to book with you?

Yeah. So for my students or for myself.

Let's start with you.

Okay. For me, my. Let me go back. So my first, on my first clients was like insurance clients, which families need a place to stay when their home get damaged and, and insurance paying big time. So it's so funny because I didn't know how to price it and stuff. So I heard his insurance, so I think I just like went above the market price. Like, I know it's supposed to be like double the market rent, right? So I think one time I did like 2.5x and it's like, oh, okay. So. So I kind of learned along the way that, yeah, insurance client, they got insurance money and insurance actually cover up to 10% of the value of your home when you go through a disaster. So most of the time you don't even use most of that anyway.

So.

And, and I, I'm really passionate about that because when a family go through disaster, we can help them to have a home. It's very important. Right. I mean, people don't want to stay in hotels and be separated with their kids and they're separate with their dogs and no, you know, no family, you know, so. So that's why I'm passionate about that. But anyway, so that, so that, you know, insurance housing is one of my favorite, one of my favorite clients of all time. The other example would be like construction company. Great because they always like extend because not under construction, never go finish on time.

You're right. You're right. It takes longer, it costs more.

Yeah. So construction and insurance are usually always extend. I love that for my students though, right now we just give them our sources. That took me eight years to build. So it's pretty much plug and play with, with all the relationship I have. So that's when it's come back to leverage. Right. You want to leverage your mentors, your, your people, your relationship. So that's why I just block and play and I even guarantee people that they, my students and they're good student if they don't get a booking after 30 days. We vet every single deal. We got to vet the deal, say it's a good deal, we will pay you the first month rent. So there's no risk for you, you know, so it's a no brainer. Yeah.

Very cool. When it comes to, I want to pivot a little bit the mindset of someone that went through the eight years of schooling as someone. I didn't go to college, I graduated high school and moved out to Arizona a month after I was running a media company at the time. And I always have so much respect for people like yourself that go through that process and truly dedicate the time, the effort and like their whole life to that. And there's so much to learn within that, not only from the, the medical side or the being a pharmacist, but just the mental.

Yes.

You have to bring into that as a doctor. And again, I have so much respect for that. But what were like, talk to me about the mindset of someone that you know now that you're on the other side of it. Right. That you initially had these thoughts to make this jump. And people can apply this in anywhere of any area of like maybe they're at a job that they've been in for eight years or they're in a relationship for eight years and they just, they need change, they seek change. The change you made was very significant. After investing so much time, effort and money into this craft and into this profession, what led you, or actually not what led you, what motivated you and drove you to pursue that to such degree? Obviously being an immigrant, you have a different mindset on the world and being here in the US and again, I have so much admiration for that.

Thank you.

But talk to Me about the earliest days of committing to that journey, because I think as an entrepreneur, whether that's five years, two years, five years, eight years, 10 years. Commitment is such a huge part a journey.

Absolutely.

I'd love to hear your thoughts on commitment overall.

I love that. So I was on a yacht with Grant Cardone and we became friends and I asked him, what is the three keys to success? And he said, the first thing is commitment. That's the very first. Because without commitment, you never start. Right. Without consistency, you never finish. But that's. And then the second thing he said is, let's see. First thing is commitment. Second thing is. It's on my Instagram. So go look it up. Comment down below and, and, and, and, and let me know. I actually for. But go on my Instagram. Yeah, no, no, but anyway. But commitment is, is great. Like without commitment, you're just never gonna do anything, right?

Yeah.

And Tony Robbins teach me that when you are in a moment of inspiration, you gotta be committed. You gotta go all in, all out. That's it. You gotta do something or write down do something. Money with your money, with your time. But anyway, so yeah, it's a big thing. I respect everybody who got any kind of degrees. Is one of the hardest thing you can ever do. Yeah, right. Especially with the doctorate level, like undergraduate and kind of ski, whatever, sleep over, hangover, and still pass or make AN A. But Dr. Is way different, man. It was one of the hardest thing I ever do. I also got dual degree, so I got my master in business as well at the same time. Wow. And we had to make an A to pass. You don't understand, like you have to.

Get an A to pass.

An A to pass. If you make an A and I, you fail. So.

Wow. Where'd you go to school?

I went to school in Utah. Yeah, yeah, yeah. But, but anyway, so what. So, yeah, commitment with, with that dedication. So with anything, you know, gotta be dedicated. You gotta be commitment. You gotta do whatever it takes. Not what convenient, but whatever it takes. Like we was. I was sleeping in basement in Utah in the freezing snow, shivering because I didn't have money to pay. But. And then I had to deal with like five other frat boys, but I had to study. You know, can imagine that. Do whatever text, like eating, you know, Subway sandwiches, $5, break it down, breakfast and lunch. You know the chicken from Walmart, five bucks. That's the whole day meal.

Yeah.

Right. So study for 60 hours a week and just, you know, get up and do it again. Right. So. But Anyway, you know, I got out just like many of you. I'm sure a lot of professionals here. No, there's no freedom. I was working like, you know, I respect people even I've even more respect people work in the medical field as doctors is, or your profession, because it's, it's a very hard job. Yeah, Very, very hard. Super stressful. That one mistake, you can kill somebody. Right. So it's not like, it's not like, you know, hey, here's a new sandwich or something. No, it's like, you know, you. You got to get the right thing.

Decisions matter.

Yeah, absolutely.

Human lives.

Absolutely.

That's so powerful, that commitment to that craft. I'm curious, outside of the commitment, what else did you learn from that process of becoming a doctor?

Absolutely.

Obviously, there's a lot we can get into from the actual education side, but just you as a person in terms of how you approach hard things.

Absolutely. Don't wish for an easy life. Wish for that you have the strength to endure a hard one. Right. Don't wish for things to get better. Wish for you to get better. It's not what you get, it's who you become in the process. That's what matter. Yeah, right. And without consistency, you never finish. You got to be consistent on the daily. Small things. Your word definitely matter. You give somebody your word, that's your bond. Okay. Because you value yourself. Because your self worth, it's all come back to self belief, self worth. Self actualization is the number one key in all knowledge. All knowledge will come down to your self knowledge. So self actualization. Start with self awareness. What are you good at? What are you bad at? What's your strength? What's your weakness? How you overcome that? Improve. Constant and Never ending improvement. 1% improve every single day. Within a year, you 365% improve.

I love that.

So some similar concept.

Yeah, yeah, absolutely. I'm curious outside of work, you know, I'm someone that, just for context, I grew up an athlete, played hockey for 10 years, played lacrosse, and then played football going into sophomore year of high school. And.

Cool.

I have this trophy over here. You can't see right there, but it's this neck brace trophy under, under the desk there. Where When I was 16, I was almost paralyzed playing football. So I was in a neck brace for six months. And it was for me, that negative period where could never play football again. Really had to recreate my identity and knew that I was going down a path of just depression and resentment and that fueled this new level of discipline. In a new area of my life, which was marketing and business and entrepreneurship. And that was not only a hurdle, but just a moment where I had to become that next version of myself. Right. And you say it's not what you get, it's who you become. I love that quote for you. You've made this transition. You're on the other side. Looking back on your past self, what have you learned from transitions in life? Because I think as someone that I sold my tech company about a year, a little over a year ago now, and things from selling a company to starting a new project, to quitting your job, to changing your career, I am obsessed with how people operate during those transitionary periods in life. Because you learn so much about yourself and it's not in a cliche way. Right. But when a caterpillar goes to, to become a butterfly, it's like there's so much happening in this transitionary period that sometimes you can't see, but you give it time and you realize that so much change has occurred. How they think, to how they act, to who they are, to who they spend time with. For you, I want to hear about transitions in your life.

I love questions.

You transitioned from Vietnam to the US to becoming a doctor to then entrepreneur, and you know, going after that financial freedom. And I'm sure there's been so many in your life.

Oh, yeah.

So talk to me about how you handle transitions in your. In your world and in your life.

Yeah, that's just an amazing question. So there's a couple transition. When I become from a corporate, you know, professional doctor to entrepreneur, I had, I was very, I was very scary, honestly, like absolutely super scary because you, you. I was making six figure income. So the bigger you make is a. In. In your job, the, the harder it is. Right. So I was like, is this really gonna, is this really good? Right? So I had to like, make sure I make double what I was making with my side business until I had the, the guts to quit. Okay. So I was consistently making that income and because it was, I was doubting, like, is this going to be good for a year from now? Right. So, and then once I did that, I still had to keep like, I kept my license on for like a year or two years. Man. I just want to make sure that this is good. After a year, it's like, oh, yeah, this is good. Let's keep rolling. So, and then I don't even renew my license since like five years, basically retire. And then the second transition is when I, I start. So I Started self development when I was 18, 19, you know, thinking grow rich, all those great book. But when I took it really seriously is the year when I was a pharmacist and burned out, frustrated. I had a mindset coach, like a one on one mindset coach. And he so funny. I remember like yesterday I drove him to the airport a 10 minute. Within a few minutes I, I asked him what's his key success. You gotta get a mentor. And I was like, okay, I like you, you're multimillionaire, you know what you're doing, how much it costs. Only 10k. To me back then it was 10k was big. It was like 10 years ago. And, and I was scared. I was, you know, I, I didn't give an answer. Yes, right away. I had to think about it, blah, blah, blah. And then I did that after that. And within that year is when I retire from my job. Right. I pretty much made that six figure income from my side business with corporate housing. I retired my mom and dad, I had the mindset, become an entrepreneur. I had everything going for me basically because of the mindset coach that helped me. I had to do the work.

Yeah.

But I had to do it. But it's so funny because I pay. I invested over almost $500,000 into my school loans, moving cross country and everything like that to get a job. And then it was only taking me 10k to get a real mentor who had already done what I'd done. And I was like scared. I was hesitate. So it's like mind blown. So Fast forward now, 10k is nothing. I'm paying my mentor like hundreds of thousand dollars a year. Yeah, like, you know, Tony Robbins, Grant Cardone, you know, in the past 12 months, I invested about 700,000, $700,000 into myself.

Wow.

Right. And what came from that is in the last 12 months I have experienced that caterpillar become a butterfly once again. You know, that's this next level. Like every weekend I find myself to hang on a yard with Grant Cardone or and backstage with Tony Robbins or go on Sir Richard Branson island and play chess with him. Yeah, like he's literally right here with me for like the whole day. Like we play like four games of chess.

So great. So his biography, I have it right over there called losing your virginity.

Yes. One of my favorite biographies ever.

I haven't met him. He's someone that I would love to have on the show sometime.

Oh yeah.

What was it like spending time with Richard? I just, I want to point that out specifically Because I just not only love his biography, but I think anyone who gets to spend time with different people and have different experiences with them their own way would love to hear.

Absolutely. So, yeah, it's so funny you mentioned that book. Is actually that book I have with me, like, 15 years. And it's like. Like, you know, it's all really falling apart.

Yeah.

Falling apart. And he actually signed my book.

But.

My first time I met him. So funny. The first thing came out his mouth. Would you like some coffee? And he's pouring me coffee. And I was like, oh, my God. Sorry to Branson is pouring me coffee right now. Hello. It's like dream come true.

Is that where was. Is on his island?

Is his island? Yeah, yeah, yeah. His home. He owned a whole island worth, like, probably a few hundred million dollars.

It's crazy. I don't know if it's the same island, but I remember in his book he talked about how it's the same. Same one. I. I remember there was. And I'm gonna butcher the story a little bit, but this was early on. I don't remember how old he was.

27.

He was. Oh, he was 27. He's super young. You probably know more than me. But they gave him this. He bought this island with money he really didn't have, and he had five years, if I'm not mistaken, to make it a sustainable island.

Right. To live.

And if. And if he didn't do a certain thing to the island, which would take a lot of capital, within five years, the government would own it. So it's so much risk. But him and his wife at the time, yeah, they. They wanted it.

Right.

Loved it. They made it happen. I think he bought some piece of, like, 3, 400 grand.

Right.

A long time ago. Crazy now to see what it is today and how he utilized the island and just what it's turned into. It's so crazy how.

Yeah.

This idea of leverage, right.

Yeah. Yeah.

He didn't have the capital necessarily to go exactly this, but he knew the foresight of what you want to do with it.

Yeah.

That's cool. You spend time with them and. Yeah, that perspective.

Yeah. That's why I learned a few things, is humility. Very humble, you know, very. Like, out of, like, anything's possible when you're around him, you know, and around these guys, you feel like any. You can do anything because they have that energy, you know, and then giving back. So the mastermind that we did with him was to give back, not to take. Like, it was massive. It Was like his foundation. Right. So he called the elders as well. He, besides that mask, he, he have a group of elders that solve the world biggest challenges for world peace, worth, self love and all of that.

Yeah, that's great. It's really cool what you talk about, you know, mentors hiring that coach for 10 grand. And it's so funny, right, because there's so many people out there, especially early on, where they'll go buy the new iPhone every year and not even blinking to invest into some type of coaching or mentoring.

An event.

I've hosted a lot of events over the years and also have invested in to go to these events. And isn't it ironic how some people will just. I mean even the context of what you said, right, it's like you didn't even think about necessarily. I mean, of course you did, but the financial investment to go become a doctor is one thing, but it's sort of programmed into it versus like, oh, I have to spend 10 grand on a mindset coach. Like you kind of have a different thought process towards it when one is substantially more expensive or, you know, maybe similar cost, but you're just used to spending money on things that you're used to versus this new category of education. If maybe it's not something that, you know, you've invested into outside of school. But for you, how have mentors played a role in your life? I know we've been talking about a lot of them throughout this conversation, but what was it for you to. That allowed you to not only go find a mentor, as you said, but what have you learned from them? And what's your advice for people looking to not only find mentors, but be around people that they can learn from and obviously potentially work with, whatever it may be.

Yeah, yeah, absolutely. So mentor is the number one, number one key success. There's a, an Asian proverb I'm not sure how to translate, but they say basically without a mentor, you're not going to accomplish whatever what you go out to accomplish. If you're looking back at any great success or anything you do in life, you got to have somebody show you the ropes that know what they're doing. Right. So if it's the same thing, then why do you think it's different when it comes to business? Yeah, right. Why, why do you think it's different when it come to, you know, sports or anything, you know?

Yeah.

You know, and, and why, like people are getting so many free information on YouTube and everything and they think everything should be given out for free. Okay. Which I, when I first started out, I did believe that. So I give everything out for free for my friends, my personal close friends. And guess what they did with it?

Nothing.

Absolutely nothing.

Yeah.

Because they don't value it. Right. You only value when you pay for something. So I was actually doing disservice to my friends and family by not charging them because they're not going to value it. And if they're not going to value it, they're not going to do it. They're not. It's like waste of time of everybody, you know?

Yeah.

So. So that's why I learned and that's. There's a reason why is my mentor charge millions of dollars to clients sometime. Right. Because they value it and they actually show up and they actually invest. They actually be persistent. They actually gonna make it happen when the things don't go your way, you know? Yeah. So you are serving people by. Have an exchange. This, in order to have a relationship, you gotta have an exchange. Right. You gotta have an exchange. Otherwise there's no relationship, you know. And where people put their money and put energy, put their time, that's where their heart goes. So when, when you collect some of that, you're going to get them micro commitments and then you're going to help them. Right.

So.

So that's why the consistency coming in as well.

Absolutely. I love that. That was a great way to describe that when it comes to where you spend your time. I know you're in Los Angeles right now, would love to get your thoughts on traveling. You're, you know, you're going to Richard Branch's island, all these different things. Do you travel a lot and if so like, what do you like spending your time on outside of work necessarily?

Yeah. Thank you for that. I love traveling. I love meeting new cool people like you. I love learning from amazing entrepreneurs. Yeah. Especially, you know, young, young people. I love that. That's great. And because the future is, is in helping young entrepreneurs. Right. So I want to give back as well. Anything I can do for you guys, let me know. Outside of work, I just love hanging out. Just mastermind. So usually I go like these trips like, like I, I don't see as work like, like every single weekend. I basically mastermind with some amazing entrepreneurs, mentors, thought leaders, you know. So it's, it's really, it's humble to come where I come from, to go through what I have gone through and to be in the presence of all these amazing people. Yeah.

That's incredible. It's, it's so cool hearing your journey, you know, coming from Utah basement. You talked about the $5, like subway.

Yeah.

Lasting you all day or multiple days. When you were going through some of the hardest points in your life or just some of the most difficult that you knew were difficult in that moment. Like, what kept you motivated and inspired during those moments?

Remember my. Why my biggest. Why was my mom to really retire her. Really spend time with her? Because she had. She sacrificed everything for us. Right. See, my number one, the first love of my life.

So.

And. And you know, without her, I wouldn't. I wouldn't be in anything really. Because. And my dad too. But my mom had cancer, so I gotta figure out something fast. Yeah. So. Because I had to take care of her. So I need my time back. So that's why have that burning desire. Anything the mind can conceive and believe it can achieve. Right. Napoleon Hill. But you gotta have that burning desire. And you gotta be willing to do whatever it takes. Not what convenient. You got willing to give up what you. In order for you. In order for you to get that C at that table, you gotta get up out my chair, go over there. Right. I gotta give this C up. Right?

Yeah.

It's like. Well, I got. I earned this seat today with you. Right. So I had to give the Odyssey from my Uber to come here. Right.

I love that.

You know what I'm saying?

Absolutely. Yeah.

Yeah. So there's no other way. And you gotta sacrifice something. But the law of sacrifice is people think sacrifice is a bad thing. No. If you sacrifice a pawn for a queen, will you do it? Yeah. So sacrificing is just sacrificing something of a lower value for something of a higher value. That's all sacrifice is. So you should be excited to sacrifice because look at what we're going to achieve. Right. Where focus goes energy flow. So you got to focus on that dream. You got to feel it as if you already achieve it. I do. Tony Robbins, Browning. Every single day in the morning, three things you're grateful for. Three things that you're going to do that day. Three things you going to imagine as if you already accomplish it. And you celebrate as if you already have it right now already have it. You. You need to celebrate life. Because when gratitude and fearful cannot exist at the same time. Give thanks for what you already have, which is God already given me everything I ever need and you too ever need. Because we are sons and daughters of God. Right? So why don't we just receive it and just give thanks so we already have it. You know what I'm saying?

I love that. So Tony Robbins, I know we've. You've brought him up a couple of times. He's been someone just his books and I've actually never gone to one of his events.

I would love to.

But I've. I've heard not only you bring his name up, but you talk about this idea of priming. How long has that been something that you've done in your life? And whether that's Tony Robbins or other mentors, but Tony Robbins specifically, how has he made an impact on your life?

Absolutely. So Tom Robin been tremendous. So when I'm get down, I would listen to Tony Robbins, I would listen to Bob Proctor, I would listen to some of the greats, whatever Jim Rohn or whoever you jail with Grant Cardone. So that's one of the key things you got to get out of that by having different mentor, you know, inside speak live into you. So 15 years ago when I got his CDs personal power.

So when I was. You're listening to years ago.

Yeah. When I was down, I pop that sucker in and over like you know, power hour.

Yeah.

Get moving, get exercise. Because this sounds. There's a few things you gotta change your focus, change your state, change your physiology and then change your story. But you got to change your focus first. You got to change your state by moving, not sitting down. And then. Then when you're in peak state. It's like a muscle. Yeah. Condition it right when you're in peak state. Only then should you rewrite your story. Don't do it when you're in a crappy state. Because you're in a crappy state. Anything is. You're not. Nothing can come out.

Yeah.

But anyway, what are we talking about Tony Robbins About.

Yeah.

Yeah. So I've been doing Tony Robin. I've been learning for 15 years. Last two years I became a Tony Robin platinum partner which is like.

Yeah. What does that mean?

A lot of money. Basically over like about 150k with all the travel and everything for one person.

Wow.

If you need two persons, you get like 200k with all the travel included in everything.

It's a big commitment is the in person events.

Right. For one year. For one year you can go to all the events plus like three additional platinum pointer event where we go to exotic places like Africa, Dubai and we actually spend, you know, amazing time together. Not only that, but serving the people there for one day. Giving back and. And learn relationship and learn all of that. But it's an incredible experience. I highly recommend I don't get anything out of it. I just want to love Tony. Just want to tell you everybody, it's the best. It's the best. I've done so much with child development. He's a real deal. But, yeah, I mean, like. Like, you. You had a different level when you go to this mastermind, right? And people there, like, you know, average net worth 20 million. There's some billionaires in the room, so we have crazy conversation, like it's normal, you know, like, you know, oh, yeah, I just, you know, exited a company, 100 million. I don't know what to do with it. You got anything, ideas? Okay. Yeah, that's, you know, you know, that kind of level. It's pretty cool.

Yeah, absolutely. It's so interesting just being around. I come from a very small town in Virginia. Parents. My mom worked at a. She was a babysitter then she was a special ed teacher.

Yeah.

And now, over the last six years of having people on the podcast, I've had almost a dozen billionaires on the show and people that, you know, you get to sit down with for, like, you know, 45 minutes to an hour. And isn't it interesting how some of the most successful people in the world that I've spoken to that it's. People expect these every now and then, just these people that are just so different. But when you start talking to them, you realize that the. The fundamentals that you're talking about from see it, to believe it, to achieve it, they're living proof of those concepts and those type of ideologies just proven out over long periods of time, most likely.

Right.

And I have this quote over here that I love. It just says, keep going and never quit. Something so simple. And, you know, people ask me all the time, what have you learned from all these people? From. From the billionaires, the athletes, the musicians, you name it, what have you learned from them? And it's that simple. They simply kept going and they never quit. And yes, there's tactics and strategies that you can get into, but you don't even have the opportunity to implement more tactics, more strategies, if you even consider and actually act on quitting. Right. So I would love to hear from you as someone that's been through a lot in their life and on their journey, whether was there ever moments that not only doubt, but just this idea of quitting, has it crept up into your mind? And how did you persevere through those moments during some of the maybe dark times or just challenging moments?

Yeah. Absolutely. Great question. So this I will apply to everybody, right? So of course I have moments like a lot. If you, if you're an entrepreneur, it's like Cladiator 247 to get ready for it. You know, it's, it's freaking in the arena. F 24 7, bro. So. So that's why I love athletes do so well. Because you understand that, right? Because it's not. This is sports. That's 24 7, guys. Okay? Let's face it, okay? You gotta be on your game all the time. You're gonna get, you're get, you know, knocked down over and over again. How fast you get up is very important. How fast you get up. Hear that? So fail. Forward faster. The biggest difference between the, the, the, the, the greats and the goods is just how fast they get up after they get knocked down. How fast? Because time is very limited, right? It's finite. So if you, if you take a minute to make a decision, or let's say if you make, if you take a month to make a decision, you're gonna waste another month to make another one. You wasted two months.

Yeah.

Where you and I, we can make a decision in 10 seconds. We waste another 10 seconds, you know, that's it. So Napoleon Hill interviewed the biggest 500 top people. All of them are different from all walk of life 500. Like the most influential people in his time dedicates entire life thinking grow rich. You gotta read that. It's the bible for success. One thing in common. They all make decision very fast and they change their mind very slowly. Why? Because they understand that time is your biggest enemy. Right? Not whoever, not competition. But no, it's really time. It's very finite. So you gotta fail. Forward fast, faster. That's one thing. And then the mindset how you get up when you get knocked down, you gotta remember your why. You gotta condition yourself. You gotta have that again, that focus on where you want to go. Have that vision board, have that focus and then where focus goes energy flow. And then you gotta change your state. How do you change your state? You gotta move, man. People are not gonna be like, you know, affirmation. Have you ever go to war and do affirmations and just like sit there and say, hey, I'm gonna, I'm gonna win. Let's go kill these guys, you know? No, man, you gotta go. Let's go. I'm a gladiator, baby. Let's kill these.

Ah.

You know, that's what you gotta be, right?

Yeah. I mean energy state too. Like that energy change is just so real, you know?

I mean, that's what you got to be to. To. To win the war.

Yeah.

You know, and people, you're move. People don't understand that. Oh, I'm so happy. I'm so grateful. I'm so grateful. We. We're gonna get rich. We're gonna. We're gonna beat these guys. Just come on. Dude. No, dude. You gotta get that masculine energy in. You got a physiology. Condition yourself. Yeah, right. And then you got to build, inspire the team and see the best our people as well.

You know, it's something that. You saying that too, and seeing some of the Tony Robbins videos, it's so powerful. Like changing that state of physiology, whether that's in a boardroom or in a meeting. Like, how you show up in that moment and changing that state is night and day in terms of first impressions for employers or acquirers or business partners or investors. The. The guest I had on the show, that's the founder of Soul Juice today as well, he talked about, you know, we were talking about fundraising for a startup, and he said, you know, fundraising is a skill set. It's not just something you go do and you talk about an idea and people give you money. It's a fundamental skill. And a big part of that is how you show up. Right. Your preparedness and the level of preparedness you have. And I think just in terms of that physiology and how you show up in the world. And if you go into a meeting, you're letting your bad day bring you down, and it's therefore like showing up and how you show up to that meeting.

Yes.

It's going to change the outcome versus making your intentions clear and not letting a bad moment or a bad day bring you down. When you have a vision and you actually know who you are and what you're working towards, changing that state of being.

I love it.

So I wanted to bring that up, but you're gonna say something.

Yeah, yeah. So Tony Robbins said it. Usually, you know, attack him only like 30 seconds now to get over something bad. He got 100 different companies in multiple industries. You got like billions of dollars in revenue. Something go bad somewhere. Like biggest drama. Drama you can ever think of. Right. People, you know, biggest drama.

Yeah, for sure.

But how fast you overcome that and. And keep his state. Because monitor your state is the number one thing you should do each and every day. Always be in a beautiful state. Always. That's why self awareness is so important.

Yeah.

Because when. When you piss off, when you. When you. You Know something, knock you out your groove, whatever. Don't let knock out your groove because you know that's everything going to spiral. You know, you either spiral upward, downward.

It's so funny. Even like today. So it's as of recording for the context, it's 4 o' clock and I had another interview today at 1 o' clock this morning. This literally has never happened here in the building. I wake up, everything's fine, get back from the gym, our power's out for literally from 9am to like 11:30 to 12. I'm like, and I'm not texting you, I'm not texting other guests, I'm not texting Diego. I'm like, if this power doesn't come back on, like we're making calls and buildings like this, oh, we got to check this, check that. Where you know, I had to either reschedule or find a new location within a short period of time.

Right.

I wasn't going to cancel on you guys. It's going to be like, okay, we're also going to go do this. Let's go figure it out. But it's, that's such a micro, micro example compared to a Tony Robbins. But it's like as an entrepreneur, things are always go wrong and not even they just go wrong. Unpredictable events like the power going out and you can't control it to, you know, an employee stealing money and, you know, leaving the company.

Right.

It's, it's one of those things that, and we talked about this in the last episode. I've learned to find so much excitement in those times and this idea of just embracing the unknown is such a powerful thing if you really embrace it. Yeah. And I think that's how this level of, and I say delusional optimism a lot because it's like with Tony Robbins, so many things can go wrong. But if you're focused on how can you move forward in a right attitude within 30 seconds from these decisions, it's, that's what makes all the difference long term, because you're able to make those decisions and stay in that positive state of that positive mindset even through the most difficult times. And not even just positive, but just neutral in terms of like, it doesn't destroy you in that moment. You're able to be self aware and recognize that. And this is just the moment.

Yes.

But a couple more questions before we wrap up here. When it comes to the business of what you do, and I know you've, you've worked with a lot of students, what is your advice? For someone that is not only, you know, we talked about making these giant pivots in life, but people that are looking to get into the mid is midterm, midterm rent, midterm rental business. It's such a interesting industry that I'm. I'm not in myself. But if someone's out there listening or watching or just curious, what is your advice? Or someone that's looking to get into that space. And what would you tell the younger version of you that was just getting started?

Absolutely. Number one, get a mentor, whoever it is. Doesn't have to be me, but you gotta have a mentor, gotta have the right community, hold yourself accountable. Right. And you gotta have a burning why, a burning desire. What's your why? And who's you fighting for? Very important. So that was the, the mindset, the foundation after that is the know how. So there's four step in this method. The acronym for me is F A S T fast. Okay?

Yeah.

F is find the right location. How you find the right location with us, we give you the secrets. Right. The one that secrets is the 3H's rule. Hotels, hospitals and highways around there. Yeah. So when two highways intersect like 10x like this, there's what, traffic flow, attention flow and energy flow and money flow. Right. So when two highway intersects, that's where you want to be at those intersections. Right. And then you want to see where the big dogs are playing follow the whales. You're gonna get fed. Right. So the big dogs are what, Hotels, hospitals. Right. Where are they congregated? Yeah, for some reason, one of the four piece of pie right here. They're gonna congregate in that area. Do I need to know why? No. Do I just need to follow the whales? Yeah, you're gonna get fat. Do you ever see the small fish just follow the whales? Yeah. Because they want to get fat. Yeah. Right.

So.

So that's the final location A to ask the sublet. How do you ask people to supplease? Because it's a big commitment for them. We're giving them like it could be like hundreds of thousand dollar million dollar property for somebody that you don't even know. So one, we're going to be the best tenant and the last tenant they ever have.

Why?

Because one, we're going to clean it every few months. We're going to take care of the property like it's our own. Right. Secondly, any maintenance under 200, we're going to pay for it. Okay, I'm giving you guys a seven figure script right now. That Made me millions of dollars. So pay attention closely. For free. By the way, the third thing is we have corporate clients. So we're gonna take, they're gonna take care of the property, right? So we can sign a three years lease, no problem. Okay. So has anybody offer you these, Mr. Landlord? No, right? I mean nobody offer you these things, you know, I mean, it's crazy, you know. So why not, why not give it a shot, right? And then even if hesitate, and if he, you know, if or she hesitate, I will pull out my ace card. What if I can pay you above market rent? So I'm give you this, this, this, this, that and above market rent. But then you also want to flip the, the table too. We are corporate professionals company. We want to see if you're probably qualified for what we do. It's not just one way street, right? Yeah. So you've qualified then we can do this, this, this and that for you. And we're going to be the last tenant you ever have. We can do multiple properties with you. And the other thing you want to leverage in my network. So I have built one of the largest corporate housing network in America. It's called beyond corporate housing network. Beyond chn.com so all my students can become partner, have their property listed on the site. We have hundreds of different partners. We've done hundreds of properties. So you leveraging our track record instead of using your one or two Airbnb, whatever record, right?

Yeah.

So leveraging hundreds of people and hundreds of properties track record. That's when people take you seriously. And it's a done deal when you, when, when you leverage somebody else's network. Because the power of the network is in the network, guys. That's the key. All right. That's the second thing. The third thing, how you set up to stand out. So set up to stand out. You gotta think about how you can provide value to the people. What do they like? The little things count. You, you know, give them a little bit gifts, you know, it doesn't cost you much, but it could mean like you know, a five star review versus a four star review, you know.

Yeah.

You know, girls love chocolate, you know, Starbucks gift card, whatever. You know, guys who just like a grill some beef and some beer, we're happy, you know, I'm just kidding. Like, you know, but how do you stand out? Right? So always is the law, reciprocity, give. And it's always been given to you. Shaking down, pressing over. Okay, so the last thing is to tap into corporate clients. How you find corporate clients you can do this. If you want to do this yourself, you can call the human resource department of each of these company and find the person in charge of the human resource department and where the transfer go. How do you house that them and, and put yourself out there. Right? You can do that. It will take you, you know, like I said, I told everybody, you can do everything yourself. Is this going to take you 10 times longer? It's going to cost you 10 times more and time, money, energy, you know, in return and ten times more frustration. Yeah, you can do that or you can just tap into my network. It took me, you know, eight years to build, you know, 20 years. Entrepreneurship. We know a lot of people, we tested hundreds and hundreds of sources and we courage out all the bad one, all the scammers, all that. And we curry down to the here's the best one. That's great on a silver bladder. You block and play just like electricity. Somebody set up for you, you plug. Yeah, I'm a funny top of electricity. You block and you got lights. Right. And we got a show. Right. So all you gotta do is plug into what we already built and then you got clients right away. And that's the key.

That's great. Wow, that was a very thorough breakdown and I hope everyone watching or listening really paid attention there if you didn't go back because it's so great. Sometimes you talk to people and it's like tell me the keys and they'll tell you something. But you know, you get to dive deeper. That was so practical and hands on. So I appreciate you going there with that. And just before we wrap up, you know, for people that are watching and listening that want to stay connected with you, that maybe want to partner with you and tap into that network like you're saying, where's the best place for everyone watching or listening to follow you and to potentially join that community and just learn more about everything that you have going on.

Absolutely. So you can send us a DM on @Drchowbnb. That's a D R C H A U B N B on Instagram, Tik tok and make sure there's no dot, there's no exclamation mark, all of that. It's just, it's just that name. And then we will give you an hour free consultation strategy call with my top advisor. You can also go on my beyond bnbsecrets.com so beyond and then the letter B, the N and the letter B secrets.com put in your info. We will help you to get started. One hour free consultation and it's a strategy call. We're going to dive deep in your personal situation, where you want to go, what's working for you, what's not working, and how we can devise a game plan for you to get that financial freedom within the next three to six months. By the way, here's a quick game plan. Just do one or two arbitrage a month and you get to your 10k, 20k a month within months. So if you just do two a month, in three months you have six properties making you about 12k a month on average. In California you make more. Okay, yeah, you're more like 24k because it's like a lot more. But anyway, so in six months you're gonna make like 24k a month if you just follow that formula. And that's it. That's that. That is like the holy grail is to get multiple sources of income. So yeah, just click on that link or follow me and. And we will take care of you for sure.

Love that. Well, thank you so much for, for taking the time to come on the show today. I'll make sure to link everything down below and if you made it this far, thank you so much for tuning in. I will be sure to link everything down below so that they can all check that out. And once again, appreciate you coming on the show today.

Yeah, thank you so much. One thing I forgot to mention.

Yeah, for sure.

So the difference between corporate housing and Airbnb short term rental and all kind of other long term rental is that it will give you diversify your income. So for example, if you have like 150,000, would you rather put it in one flip or would you rather have do like 10 properties? Okay, if you do, you can do 10 properties with 150K. The same 150K. You're not putting all your X in one deal. You know you have 10 properties over here making you 20, 30K a month. So that's called diversify your risk concept, number one. Number two is asymmetrical risk to reward ratio. So when I learned for these multi billionaires is that whenever they do a business, they're going to look at the downside first. What am I risking and why am I getting rewarded? If the risk to reward ratio is one to five or more, they do the deal. So what are you risking here? Only a few thousand bucks. First month rent, first month deposit. You're not risking like hundreds of thousands of dollars by buying real estate. Right. And then what are you gaining? You're getting like 20, 30k a month. So after five years, like 150k. So the risk like 5 to 10k, the reward is like 100 to 200k. So it's a 1 to 10, 1 to 20 risk to reward, which is unheard of in business. Like I opened a restaurant before I lost $400,000, you know, all in one basket. That $400,000, I can do like 30 of this arbitrage and make like, you know, 600,000 a year, you know, or diversify around my wrist, have multiple streams of income. Multiple streams of income is the way it is. A holy grail for your peace and, and absolute financial freedom. And if backed up by real estate, even better.

Absolutely. Well, I appreciate you sharing that. And once again, I really thank you so much for coming out to be on the show today.

Thank you. Take care, guys. God bless.