Remember Armando Montelongo from A&E's Flip This House???

By
Real Estate Agent with KEIRE Realty Group
http://actvra.in/BWH

Last night I found myself with some time on my hands so I thought I would stop by the A&E's website http://www.aetv.com/flipthishouse/ and take a look at the Season 4 Premiere of Flip This House. While there, I clicked on "videos" and watched a few short clips of past episodes and it started me thinking...whatever happened to Armando Montelongo and his company? How are they weathering this market in San Antonio?

I pulled up another browser window and googled "armando montelongo"...one of the sites that came up was called "Flip This Lawsuit" http://www.flipthislawsuit.com/2007/04/16/anyone-purchased-armando-montelongos-real-estate-package/ this website immediately caught my eye and I went right to it. This website is dedicated to the discussion of Armando Montelongo, his Master Home Study Course and his series of Flip and Grow Rich Ebooks.

Much of what I read was really no surprise to me. It touched on several of the issues I already found irritating about the show, at the end of the show they never tell the public about all of the other associated costs that went into the deal, such as; holding costs, realtor commissions paid, taxes paid, settlement costs, etc. They leave the public believing that here is a guy who owns a company that was able to buy this house for $65,000 and low and behold after a quick cleanup, paint, new carpets, they turn around and sell it for $125k thus pocketing $60k in profits. The program never mentions how many days it took for that property to sell or, if it was able to sell at all...it may very well still be on the market!

The site comments go on to talk about how Armando claims that he has flipped over 1,000 homes. A figure that cannot be verified. It was interesting to read that others who had posted in that forum were able to verify with court documents that Armando and his wife Veronica had filed for divorce in 2003, and that he is currently in bankruptcy. According to what I read, he only earns $150 through disability per month. I guess he better start hawking those $997 Ebooks and CDs!!!


"Helping You Get What You Want In The Time That You Want"

-Keith

Keith M. Elliott Jr.
PRINCE WILLIAM COUNTY REAL ESTATE EXPERT
Realtor®, e-PRO®, ABR®, SRES®, Commercial Specialist®

RE/MAX Olympic Realty
15100 Washington Street
Haymarket, VA 20169
Office: (703) 530-2955, Ext. 6316
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Email: kelliott@comcast.net
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Anonymous
Anonymous
Joey
This man has made people millions. If you weren't willing to do what was instructed, who is to blame.
Jun 26, 2011 02:43 PM #42
Rainmaker
564,290
Corinne Guest
Barrington Realty Company - Barrington, IL
Barrington's Country Suburban Home Matchmaker

This made for an interesting read! I too used to get annoyed at the way they presented the numbers. Glad he is not on TV anymore.

Sep 09, 2011 09:56 PM #46
Rainmaker
582,897
Susan Neal
RE/MAX Gold, Fair Oaks - Fair Oaks, CA
Fair Oaks CA & Sacramento Area Real Estate Broker

Goodness gracious, Keith!  Did you know what you were opening up when you posted this? 

I have always felt uncomfortable about the way Montelongo seems to cut corners and short change his subcontractors - not to mention how rude and nasty he treats everyone. 

I love to watch the shows about flipping houses, but avoid the ones with him because he just upsets me.  It's sad to hear about all the problems for his family (he had some small children if I recall correctly) and all the others who have lost money.

Sep 23, 2011 05:45 PM #47
Anonymous
Anonymous
Judit

Wow.   And I just wanted to go to his seminar in Orlando tomorrow.  I am glad that I read this blog.  I am an investor and wanted to hear what else I could learn from him.  My advise to all of you who want to flip is this:   Find a good real estate agent, stay loyal to him or her, this is a must.    Explain to him or her what is your max budget for the purchase and repairs and let him or her find the right first house for you.   Make sure that you know from your realtor what is the market value for that house in a fixed up condition.  They can do a BPO, a computer generated appraiser arrived from the local multiple listing service sales comparison of similar properties in the same area.    You will need a good team of repair guys for interior repair for sure, as most of the foreclosed and short sale houses are in disrepair.  Try to buy homes that only need cosmetic, such as carpet, paint, new appliances, maybe a counter top, as you are still an infant in flipping.   Don't be greedy.  It is ok to make as little as $5,000.00 net profit on your first flip after deducting for all costs and fees, then do the next one again.   There is no such thing as making tons of money on any one flip, because other seasoned investors would buy that property before you can.   Go slowly and carefully.   Think of it this way.  If you put your money in the bank, you are making maybe 2%, in your 401K maybe 5%.   But if you can flip good, you can make 20% on one deal.    You don't need Armando, you need a good real estate agent to find the deal for you and to explain to you the local market and pricing, and the best part about this is, that it is free for you when you buy and only costs you when you sell.    

Good luck, you can do it.   

Jan 13, 2012 08:39 PM #51
Rainmaker
557,680
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hey there! It's been a few years since I originally made this post. So, tonight I thought I would pop by and catch up on the comments since my last visit. And, other than a few negative personally attacking me, I'm glad to see that there is still a healthy and engaging dialogue taking place. Good!

As with all get rich quick schemes, you owe it to yourself to conduct your own due diligence before deciding to invest your hard earned money into them.

Keep the comments coming!

Cordially,

-Keith

 

 

Jan 18, 2012 07:36 PM #55
Rainmaker
557,680
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

I also posted a follow up to this article as Part II - Here's a link to that. Remember Armando Montelongo from AE's Flip this House? - Part II

Cordially,

-Keith

 

Jan 18, 2012 08:04 PM #56
Anonymous
Anonymous
Andy

Be aware I saw in TV Armando Montelongo is doing his seminars in Torrance, CA this weekend!

Sincerely,

Andy,

Jan 27, 2012 06:12 PM #57
Anonymous
Anonymous
Anonymous

Hahaha, The better business bureau is after him! http://youtu.be/5sxjB1qs-no

Jan 28, 2012 10:05 PM #58
Anonymous
Anonymous
Jonathan
I want to get into flipping houses. But I am concerned about lack of down payment and closing cost money. I am in the phila Pennsylvania area. I really want to start as soon as possible. However I really need some good truthful sound advice. Can anyone give me some great starting tips? Thank you.
Feb 09, 2012 02:30 PM #59
Anonymous
Anonymous
Helen
Nooooooo not my Armondo M, and when did he and wife Veronica divorce?OMG I cannot believe this ,so sad:-($ & who makes$150. Per month for disability?
Jun 03, 2012 07:31 AM #60
Anonymous
Anonymous
paul

WOW!  Coming from first hand experience in attending a few real estate seminars the past few years, each one has something new that I have learned and worth every penny of it.  If you are willing to make an effort and not simply think you pay x-amount and assume you do not have to do any work, then yes - you got screwed and should have never paid or even shown up.  But if you make the effort and simply follow some basis guidelines, you will make money in real estate. I attended his 3-day seminar and a few other national seminars and even though his was one of the highest, I did learn some things.  It is always good to continue your education since new policies/criteria constantly changes that effect real estate purchases for investors.

I own over 20 investment properties and all incoming producing and purchased using some of their training ideas, so if you want it the easy way, don't pay for anything and stay drowning in your depth.  Make the plunge and through some blood, sweat and tears, reap the benefits when you start cash flowing and making the right decisions.  And yes, it is very true about using other people's money to pay for things as long as you know how to make it happen and that is one of the key items each one of the seminars hits on.

You need a strong support team: Realtor, contractor and family to make it happen!  (Fortunately for me, I am a Realtor, my wife owns and runs our contracting firm and we have a strong and supportive family).

So the bottom line is you get what you pay for as long as you know what to expect from yourself as well as thru your education.

Jun 06, 2012 01:31 PM #61
Anonymous
Anonymous
yo
i just want to tonguebathe his ex wife...HOT HOT HOT!!!
Jun 16, 2012 09:56 AM #62
Anonymous
Anonymous
Not A Sucker

Desdi Bani And chrityNC,

You are seriously stupid, as the others that still try to support him!!! By now, you should realize that he his a worthless piece of crap! Yes, it was obvious that show was "staged" and unrealistic, but he has taken advantage of so many people!!! He is a horrible human being, and can only hope his son doesn't have his moral character!!! As for Veronica...she would do well in the escort business!!!

Jul 07, 2012 08:04 AM #63
Anonymous
Anonymous
barbara j

I always thought the show was funny and that they seemed happy as a couple.  He  is not on any more  NOR are any other flipping shows.  I too miss Richard and TradeMark Properties remenber all his cute sayings?.

Sep 01, 2012 07:33 AM #64
Rainmaker
175,396
Leander McClain
North East, MD
Cecil & Harford County Realtor

Is this a case of what goes up......must come down?

These shows always made it seem easy to make lots of money with no money.  All good when the market was going up

Jan 14, 2013 01:03 PM #65
Anonymous
Anonymous
darell

well im still wondering what was his net worth before A&E. how much money did he make (profit) flipping. how much did he earn from A&E.  how much money is he now making from his seminar scam. i think these numbers will tell how A.M. made himself rich. i can almost predict that he will soon find himself roommates with berrnie. when he finds himself in don lapres shoes i dont think A.M. will accept his sentace (appeal to the very end) .

Feb 08, 2013 01:40 PM #66
Rainmaker
226,276
Michael Blue
Home Smart Realty West - Encinitas, CA
REALTOR - 760-889-8877, Encinitas/Carlsbad
He never did it for me, reminds me of a self centered ego swell headed person in my life already. Couldn't stand to watch him without being forced so I didn't.
Jun 08, 2013 10:47 PM #67
Anonymous
Anonymous
Scott Sands

All you ppl whining about "Armando", sounds like another white person jealousy to me ... It was a show for ENTERTAINMENT PURPOSES you swine .. If you sent money into a person you seen on A&E of all places, you desrve to be a fool PERIOD!!! Armando Montelongo RULEZ, and it was his show that made me tune in every SATURDAY!

Sep 14, 2013 07:56 AM #68
Anonymous
Anonymous
Greg
It's his brother David that filed for bankruptcy, not Armondo. He is actually doing just fine. He made 74,6 Mil last year alone and is ranked in the Top 100 of Forbes Fastest Growing Companies listing.
Apr 17, 2014 06:41 AM #69
Anonymous
Anonymous
Helena Handbasket

I've never heard the name Montelongo until A&E started showing re-runs of Flip This House lately. I don't think I've ever disliked a TV personality so intensely. He treats his contractors and his associates horribly.

He made his wife spray a beehive with Raid, and a caption on TV said "savings for professional bee-keeper: $300." After that, I had to google him to see if this was all for real, or just a put-on for his show. Well, it looks like Monte-wrongo is a 100% for real, jerk-wad douchebag. I cannot believe people got suckered into giving him money for business advice. I guess his name is mud now. Too bad, his ex-wife and kids seemed really sweet on the show, I hope they changed their last name.

Jul 16, 2014 05:10 PM #70
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Keith Elliott Jr

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