"Flip My House"...Flip this.

By
Real Estate Agent

The Better Business Bureau has raised some flipping red flags on a Texas-based company, Armando Montelongo Worldwide Inc.  Armando Montelongo, a former host of the reality show "Flip This House" on the cable network A&E. Montelongo holds seminars with information about flipping houses.

The BBB has received many complaints, with many complaints unanswred. Read the Rip Off Report for more flipping complaints.

http://www.ripoffreport.com/seminar-programs/armando-montelongo-s/armando-montelongo-seminars-a-3df72.htm

With a statement in Monteglong's video's like, "Imagine being able to get you and your family out of debt and to be able to change the legacy of your family by becoming a real estate millionaire" and more marketing tag-lines than you can put your finger on, it's no surprise to real estate professionals that the complaints would be numerous, especially in today's real estate markets.

I often used to watch these type of shows on HGTV and A & E on Sunday mornings, but found that most of these "flipping" shows were not reality for most investors, at least in North Texas.  I often wondered about them and had plenty of skepticism when the shows boasted of such big profits.

Sure there are flippers out in the market making money, but it's not usually as easy as Montelongo states in his videos.

So I say....Monteglong...Flip this.

 


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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Mike Yeo 05/16/2011 11:23 PM
  2. Daniel H. Fisher 07/04/2011 10:41 AM
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Rainer
82,775
Jayne Clement
Los Angeles Short Sale Agents
Keller Williams Realty

My buyer just lost a "flipped" house...Seller neglected to get the right permits and now the City Inspectors are having a field day with this "flipper."  After the 4th month of waiting for them to get it together, the Buyer had to move on.  Unfortunately, for the flipper, the battle may go on for another 3-4 months...and the city may ask them to tear down part of the unpermitted added square footage.  Flip, baby, flip. 

May 18, 2011 04:11 PM
Rainmaker
453,066
Jan Green
RE/MAX Excalibur Scottsdale REALTOR®, GREEN®
Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills

It's too bad that people actually thought they were going to be shown how to "flip this house" for $1,497!  I can't imagine learning anything in 3 days that is supposed to make you rich.  I'm a skeptic by nature so would never want to pay that amount.  Instead, get into real estate! 

May 18, 2011 08:49 PM
Rainmaker
141,474
Marshall Brown
BSEE, CHI
Mid America Inspection Services, LLC

Flipping reminds me of that old saying, "You can't make a silk purse out of a sows ear."  But having said that, you can sure make it look like you did.

May 18, 2011 08:55 PM
Rainer
115,868
Diana Manzato

@Marshall...  LOL... YES!

May 18, 2011 09:20 PM
Rainer
115,868
Diana Manzato

@Jan,  I also can't imagine a 3 day course to becoming a millionaire...it's a fantasy!

May 18, 2011 09:20 PM
Rainer
115,868
Diana Manzato

@Belinda, Thank you!

May 18, 2011 09:21 PM
Ambassador
799,524
Kathy Schowe
La Quinta, California 760-333-8886
California Lifestyle Realty
I think the best real estate show for realtors to watch is Million Dollar Listing!
May 18, 2011 10:30 PM
Rainer
22,092
Tony Mendez
Certified Mortgage Advisor
Florida Mortgage Solutions, South Florida

I bought his course a few years ago.  The information and tips he gives are very good, especially if you have no idea where to start as a real estate investor.  But keep in mind, one course or seminar is not going to turn you into a successful investor overnight.  Knowledge of your market area, laws, and plain old common sense are very necessary ingredients.  Reality shows are meant to entertain, not educate.

May 18, 2011 11:36 PM
Rainer
37,348
Michael Singh,Broker
Singh Real Estate

What ever this guy is selling don't buy it.  Its shameful what he is doing a legitimate real estate investor would never do the things this guy is doing 

May 19, 2011 01:35 AM
Rainer
68,804
Robert Courtney
Century 21 All Islands, RA, CDPE, MCRE, CIAS

The  "How To" business is a huge money maker.  The money coming from people looking for a quick way to a million dollars!!  If you watch these shows you will see how emotion is what sells! 

May 19, 2011 03:20 AM
Rainer
115,868
Diana Manzato

@Robert, if only we could all make millions on "how to", hu?!

May 19, 2011 09:46 AM
Rainer
40,605
Don Corson
Better Homes and Gardens R.E. - Columbus & Central OH Homes

I'm a huge fan of rehabbers (most people call them flippers).  As a result of their hard work, neighborhoods are improved and distressed stock is brought back to its highest purpose.  But it is hard work, and those who do it right have done their homework and understand their markets.  

There are some rehabbers that I follow online that have been approached for reality shows, but they discovered that their businesses are so well run, that there was not enought "drama" to make good television.

If any readers really want to get educated on flipping homes, all they need to do is lurk around on the BiggerPockets.com and Flippinghomes.com forums for a few weeks.  They willl learn everything they need to know...for free.  Those sites are run by high integrity individuals, and frequented by people that like to help.

May 19, 2011 10:17 AM
Rainer
115,868
Diana Manzato

@Don, thanks, I'm going to check out these websites!

May 19, 2011 01:05 PM
Rainmaker
211,506
Maria Couto
Realtor with "Results That "MOVE" You'
RE/MAX Premier

I watched a couple of shows out of curiosity, but as you said it is not based on reality for an average consumer, in NJ either. You're flip that.

I remember watching his Flip this House show. I think it was a family business until there was business fallout within in.

May 19, 2011 01:22 PM
Rainer
7,795
Madison Carlson
RE/MAX Excellence

Just someone else who wants to capitalize off of others misfortune and sell another get rich scheme. Like you said it can work but not always for every situation.

 

May 19, 2011 04:02 PM
Rainmaker
1,237,398
Gene Riemenschneider
Turning Houses into Homes
Home Point Real Estate

I think these guys get rich pitching the system and not in real estate.  It makes investors harder to work with too.

May 19, 2011 04:41 PM
Rainer
66,311
Amy Bly
Styling Homes for Selling and Staying
Great Impressions Home Staging/Interiors

Andrew, #5 above -- right on! I always scoffed at those figures for "added value" of repairs/upgrades to the houses Armando flipped as well, since the numbers were always 2-3-4 times more than the actual cost of the upgrade! I just attended a seminar on flipping/rehabbing houses this weekend through my Tri-State Mixers Investment club, and I learn a lot through these "real" rehabbers and their sometimes hard lessons about the business. Plus you get to pick their brains in person, and this seminar was only $30 for the day! 

May 24, 2011 11:14 AM
Rainmaker
132,587
Liane Thomas - Corona & Riverside Real Estate
Bringing you Home!
The Jet Team, Keller Williams Realty, Corona Real Estate

Yeah, I watched his show once too. He made it seem real easy to make thousands of dollars. If it was that easy, we'd all be doing it.

May 26, 2011 10:40 AM
Rainmaker
125,433
Matt Robinson
Pensacola Real Estate (850) 292-4000
ERA Emerald Coast Realty

I never liked Armando on a personal level, but I have no problem with his business model.  Of course it's not as easy as it's made out to be on TV, but nothing is!  Are people filing complaints with the BBB because it's not as easy to bake the pie that Martha Stewart just whipped up in about 2 1/2 minutes on her show? Give me a break!  I'm an active investor and flipper, and we are doing very well, even in this market...and I don't begrudge someone else for making money for sharing their expertise on the topic. 

November 29, 2011 01:13 PM
Anonymous
KT

first a business starts out making the business earn, than it duplicates itself or franchises. Then is sells books or seminars when the profits show it is time to sell or get out, letting you hold the bag.   KT

August 06, 2012 11:33 AM
Anonymous
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Rainer
115,868

Diana Manzato

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