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
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Tags:
ebooks
get rich quick scam
scams
montelongo properties
armando montelongo
flip that house

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Rainmaker
175,384
Leander McClain
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

January 14, 2013 01:03 PM
Anonymous #66
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) .

February 08, 2013 01:40 PM
Rainmaker
216,636
Michael Blue
REALTOR - 760-889-8877, Encinitas/Carlsbad
Home Smart Realty West
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.
June 08, 2013 10:47 PM
Anonymous #68
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!

September 14, 2013 07:56 AM
Anonymous #69
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.
April 17, 2014 06:41 AM
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Keith Elliott Jr

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