Real Estate Investor · Merrick, NY · Member since 2013 · 24 posts · 2 votes
In Febuary 2014 I will be attending a 3 day class to learn how to flip houses using Armando Montelongo's system. Does anyone have any experience with this system?
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
12y
Get a refund then buy the Biggerpockets Guide to House flipping. You can use the left over money to fly to Hawaii and take a vacation and read the book on the beach!
Lender · Plano, TX · Member since 2013 · 312 posts · 71 votes
12y
Gary, Armondo has gone through a lot of financial issues. Personally, I would take advice from someone who has had so many issues. How can he give advice if he can't even take care of himself? He doesn't flip homes anymore.
Property Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
12y
Why should he flip houses anymore, makes too much off everyone buying his books and seminars.
Last I heard about lawsuits was Armondo suing his brother David for trademark infringement, damage to business reputation, unfair competition and unjust enrichment. Seems like nice guy.......
Contractor · Round Rock, TX · Member since 2013 · 767 posts · 389 votes
12y
I'm surprised they let you split it and don't want $1500 each. Mighty generous of him. I'd do a little research on him before you go. From what I've read about him, its not very positive.
Nashville, TN · Member since 2013 · 86 posts · 40 votes
12y
Instant gag reflex occurring here.
Take business cards. The value of your network is much greater than the value by which they will ask you to increase the limit of your credit card to stair step you up the next level of the dream level they will try to sell you.
If you can afford it, $1500 out of pocket isn't a huge amount to invest to meet a few good people, but the entire business model is based on establishing value in an illusory cult of personality.
I know more useful millionaires from the bar at my local steakhouse. I've had fabulous life altering conversations with real people I meet in real life for the cost of a couple of cocktails.
Real Estate Investor · State College , PA · Member since 2009 · 594 posts · 173 votes
12y
I loved the show since day 1. It can be a fun way to waist a half hour. That being said, I read a very bad story on him and AnE. Very high pressure sales at his seminars. I have never been to one of these but am not of fan of anyone that tells you, you will fail without me. Those type are never on your side.
Real Estate Investor · Houston, TX · Member since 2013 · 31 posts · 16 votes
12y
Gary
If you have not paid for it don't do it. If you have paid for it try to get a refund but good luck with that. Friend of mine went to it and gave me a blow by blow. Every class they have is about getting you to spend money on the next level if you want to get the VIP blah blah blah good info. It's a joke. Put on by excellent motivational brainwashers very good at convincing the majority of the crowd to shell out big bucks. They are trying to get you to the big show for 40k. My friends sister is a successful Doctor and bought the 40k hook line and sinker. I don't know her but did my best to convince him to not let her do it. He went to the big show with her as a guest. You will learn more here on BP for free and if you buy the Book on Flipping Houses sold on this site you will know more than what you will get from the 3 day seminar including if you pay 40 k to attend the Wizard of OZ Pony show VIP bus tour. If you already paid and can't get a refund leave your credit cards at home when you go. Good people with hard earned money will throw their life savings away with these Guru's who are very very good at brainwashing you into thinking they will show you the way and hold your hand. They will tell you to not listen to the nay sayers saying it can't be done. The truth of the matter is the one thing they are correct about is YOU are the only one standing in your way of success and they are good at getting you off your *** to go get started. But as far as learning anything you get more here. Besides the $1500 class that you signed up for is their nothing class that's designed to sign you up for the 40k class. Many people at the level sign up for the 40k level. They are very good at recruiting. Good thing I don't have an opinion :)
I had a feeling that they were going to try and sell us another program. Thanks for the heads up, and i will talk to my friend about getting our money back.
Real Estate Investor · Houston, TX · Member since 2013 · 31 posts · 16 votes
12y
And Gary one more thing. You asked about his "system" of flipping houses. That system is the same you learn here and other places. It's nothing more than buying houses for 70% or less of the ARV minus repair cost. Buy in neighborhoods that have the ability to move the property quickly with reliable comps. Get a good inspection and understand your repair cost, holding cost, acquisition cost and cost associated with selling the property. Read the book on flipping houses sold here and go get em. It's not rocket science, just takes discipline to follow the principles and action to find the deals and close on them.
Real Estate Investor · Merrick, NY · Member since 2013 · 24 posts · 2 votes
12y
I just joined bigger pockets today and I'm blown away by the amount of helpful people in this community. Where can I fiind this book on flipping houses? @Ron Jones
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
12y
Get a refund then buy the Biggerpockets Guide to House flipping. You can use the left over money to fly to Hawaii and take a vacation and read the book on the beach!
Real Estate Investor · Apollo Beach, FL · Member since 2011 · 4 posts · 0 votes
12y
Ron is absolutely correct. I took the 3 day course which taught me a lot. I found BP after I attended and found the exact same info...free. During a break, they try to get you to call your credit card company to increase your limit and get your interest rate lowered. The goal for them is to get you to purchase the bus tour in Cali where Armondo himself will teach you to flip on real properties. There's more to it after the bus tour but I don't remember since I attended about 3 or 4 years ago. I think they have a Boots on the Ground program where someone comes to your town to help you get your 1st deal done. Don't quote me on this. Bottom line, get your money back if you can and ask BP before you buy.
Investor · Anchorage AK and Hampton, VA · Member since 2012 · 140 posts · 82 votes
12y
Hi Gary,
Aside from all the advise you've gotten so far, (all good IMO) have you ever watched any of Armando's old shows? They are very educational in exactly how NOT to treat people and/or this business. If you have seen them, and think this is someone you want to emulate, or learn from - please go. And take your credit cards, ALL OF THEM.
Not really, I wouldn't wish that on anyone.
Seriously, in my opinion people like Armando are the reason RE investors, flippers, and even contractors have to deal with a lot of negative stereotypes.
Real Estate Investor · Westminster, CO · Member since 2014 · 201 posts · 74 votes
12y
I think the best thing you can do is invest $9 a month in Bigger Pockets and listen to all of their podcasts. You will get a much more of a well rounded, no hype realistic education on real estate businesses. Maybe you only know house flipping but after listening to a podcast on wholesaling, that suddenly sounds more in line with your skill set.
I am learning at the ripe age of 40 that shortcuts don't exist. Learn as much as you can stand to learn, pull the trigger on your business, make some mistakes and learn. Then you will be an overnight success in 10 or 15 years.