Does anyone have experience with Dr. Chau Ong Beyond BNB Secrets MTR Rental Course?

Question

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.

Amanda Henry · Answer

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.

Vivian Yip · Answer

OH NO!!!! That's awful.

Nicole Heasley Beitenman · Answer

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.

Vivian Yip · Answer

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.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You'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.

Jamie Banks · Answer

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

Laniece Birchmore · Answer

Is this still valid information? I want to also do my due diligence. I too would like the 411! 😊 thank you.

Mary Vee · Answer

Hi Rabya! Can you share if you actually joined the MTR coaching program and your experiences? Thanks!

Joshua Jalosjos · Answer

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.

Yiwei Cheng · Answer

Rabya, do you have experience with STR or you're looking to get started in MTR only?

Does anyone have experience with Dr. Chau Ong Beyond BNB Secrets MTR Rental Course?

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