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August 19, 2022

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You still have the right to hope for the best and move forward even if you face adversity just as you reach the pinnacle of your accomplishments. This 23-year-old entrepreneur is proof that hard work and determination can pay off.

Derek Cheung is a former college student who got into rental arbitrage. He was an intern when he discovered the company that operates short-term rentals for properties it doesn’t own.

In 2018, he began engaging in rent arbitrage by acquiring his first two apartments. Derek’s first steps weren’t smooth sailing. He did a lot and did extensive research to ensure he was following a solid business plan.

Derek learned the legal paperwork and communication skills involved in real estate and rent arbitrage transactions, especially since many landlords have specific preferences for working with such parties — he even went through around a hundred landlord leads.

He also made sure he knew how to service the property, maintain fixtures, decorate it, and approach landlords in negotiations. Since his first deal was with an agent who represents multiple landlords, his career took off from there.

Derek’s first annual leases were signed in February 2019. One-bedroom flats cost $1,215 per month while studios cost $999. He put down a $500 security deposit on each flat, plus the first month’s rent. Short-term rentals were permitted under the terms of his additional contract.

As a result of working part-time while in school, Derek was able to save $8,000. He also had a $5,000 credit card limit, which was sufficient at the time. He spent $5,000 on secondhand items from Facebook Marketplace. He rented U-Haul to move things and asked two friends to help. After he had set them up, he took photos of the units and posted them on Airbnb.

He kept moving forward with the strategy, and soon he was managing and cleaning six apartment blocks. He had reached a terrifying $10,000 in liability and rent expenses, but he was convinced that he had to risk money in order to make a lot.

Unfortunately, the pandemic hampered travel and bookings. At that time, he owed $20,000  in monthly expenses. He began calling builders, corporate movers, and insurance housing agencies weekly to offer his units, and advertised on Zillow, Corporate Housing by Owner, Furnished Finder, and Craigslist. His top priority was serving customers who had booked 60 days in advance.

When the pandemic subsided, he created a new plan to make up for his losses. Derek lowered his prices just enough to break even or make a small profit. He was also keen on securing long-term visitors and started taking reservations from people in the area who were in between leases, evicted from their homes, or were staying in hotels because their insurance wouldn’t cover them.

Derek had 50 properties by the end of 2021, with 44 of them being fully functional. His revenue increased by about 22% this year.

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Through Personal Experience, Tammy Sun Starts Up Carrot Fertility Company To Help Women Start Families

At 34, Tammy Sun went looking for egg fertilizing services as she thought of starting a family of her own someday. But in her quest, she, unfortunately, found out that she has “premature ovarian failure.”

The mysterious disorder indicated negative effects on Tammy’s fertility that she had to go through several egg-freezing cycles which cost her $40,000.

Working in Evernote tech company that did not have fertility treatment benefits, the medication was very costly for her.

With this in mind, Sun put up Carrot Fertility, a fertility care provider, in 2016.

Carrot Fertility partnered with different companies to include fertility services in their health coverage where employees can avail of egg freezing, IVF, adoption, pregnancy, menopause treatments, and others.

In MSNBC, the CEO and founder stated that “The company was born out of a desire to make sure that every single person, regardless of their age, their sex, their sexual orientation, gender identity, marital status, race or geography would have equal access to high-quality care.”

Not only did the service provider address women’s concerns but also men’s as according to her, fertility is a human health issue for both sexes.

A year after Carrot’s onset, it has already acquired over $200 million in investments from first-class firms and is now a partner of above 800 companies.

Supporting millions of workers, including their families, Carrot is set to process claims worth $500 million.

Tammy also revealed that 95% of their clients remain in their respective jobs because of Carrot.

Unlike other businesses which declined during the pandemic, more than a three-fold increase in the use of the platform was observed during the time and up until now as many availed of mental and emotional health services.

Many companies partnered with Carrot to encourage employees to stay especially during the Great Resignation period.

Now, Carrot Fertility is the leading global platform for fertility healthcare and family-forming benefits.

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Filipino Family Grows COVID Financial Aid From Government Through Fishball Sauce Business

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During the height of the pandemic lockdowns, Richie and his family chose to grow the help by opening Manong’s Fishball Sauce, “We thought of how to grow and prolong the money,” Richie said.

With his family’s fondness of eating street food fish balls but at the same time considering the limitations posed by the pandemic at that time, the family decided to sell bottled fishball sauce so people could just enjoy it at home with their own-cooked fish balls.

The modest family business prospered through hard work and perseverance. Not only do they sell their product in the Philippines but they now also export to Japan, Australia, Austria, and the US.

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Asian American Community Is Prospering In Folsom Sacramento County

The number of Asian American immigrants in Folsom multiplied five-fold from 2000 until last year as found out by the US Census Bureau.

Among them are Chalamcherla of India, Steven Wang of China, and Marcus Yasatuke of Japan.

51-year-old Chalamcherla long decided to come to Folsom after falling in love with the city while attending the birthday celebration of a friend’s son, but it wasn’t until 2006 that he actually did so after spending two years in Singapore and the Bay Area.

Nearly ten years after arriving in the country, Steven Wang, who is currently Folsom’s city attorney, became a citizen.

Back then, it was hard for tourists to enter the US but Wang, together with her brother and mother, swiftly passed the immigration after saying that they would be visiting Disneyland, the only place he knew. 

Wang, who is now a lieutenant colonel, has been a member of the US Army Reserve since 2004. During that time, many of his fellow soldiers were losing their lives while serving, and Wang felt in danger.

Because of this, he worked in Folsom city before finishing the necessary time to serve in his Afghanistan deployment, and he told The Sacramento Bee, “I don’t know if every company is like this, but Folsom has been quite supportive of the military.”

Additionally, in 2003, Marcus Yasutake, 45, moved to Folsom with his wife after receiving job offers from Placerville and Roseville. They were able to reside there and raise a family of three children.

Communications director Christine Brainerd of the city of Folsom said that Asian Americans are likely attracted to the area on the same note as why many citizens choose to call Folsom home.

The head of the Sacramento Asian Pacific Chamber of Commerce’s economic development team believes that the tech-based companies in Folsom may be one factor for the recent increase in Asian residents.

Marcus cited the excellent school system in Folsom as one of the reasons why he came there, whilst Chalamcherla claimed that technology plays a significant role in the city’s increasing Asian population.

Racial discrimination is far from nonexistent in Folsom. That’s why Chalamcherla urges other Asians to immerse them in Asian culture.

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Denver’s Vietnamese Refugees Share New Life While Keeping Family’s Heritage

Because of the chaos that was happening in their homeland in the 1970s, thousands of Vietnamese fled and some, later on, found a home in Colorado.

The melancholic memory is still fresh for Nga Vương-Sandoval, who, at the age of three, had to temporarily stay in refugee camps in the Philippines, Guam, and Arkansas.

She was with the about 2 million people who were unhoused and still have from within the shock of their suffering. 

It had been very challenging for them as they had to leave behind the good life they have in Vietnam and even depart from their relatives in order for them to leave safely.

Starting their life all over again, Denver has become a home to the 24,000-man Vietnamese Americans.

After being able to establish their community and found a home in the place, Nga said “I’m proud to say that it’s the city that I love, it’s the state that I love.”

Meanwhile, Vo, a 21-year-old grandchild of a Vietnamese who grew up in Aurora after his grannies and parents left Vietnam in the 1990s to seek a better life, had the experience of living in “a very diverse place.”

Knowing very little about his family’s past in Vietnam, he conducted a research project to unleash an “inherently American story,” according to him. 

Enabling people to have a glimpse of the refugees from a different perspective, Vo made use of his relatives as objects of his photography.

“Even though we moved here, they still lived a very Vietnamese life,” Vo said in Denver Post, 

It was also in his research that he found out how the majority of his family members were able to escape Vietnam while being robbed of cash and gold on their way.

He also mentioned how his family kept their culture by still practicing them in Denver which contributed to what America is, a place with diverse cultures. 

Despite having to start from scratch, they were able to begin life anew and even owned an Asian supermarket, Asian cinema, and Truong An Gifts.

His family also started the Far East Center shopping mall in 1987, home to him and his cousins and even to the Asian community.