"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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Comments 115 New Comment

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Rainmaker
1,165,850
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
65,222
Amy Bly
Great Impressions Home Staging, River Vale, NJ

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
130,762
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
124,583
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
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Rainer
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Diana Manzato

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