Armado Montalongo "3 day bustour"

46 Replies

Hello everyone,

just starting out in real estate investing and this site which has been a great read by the way.. so I almost fell for the bus tour 30k event in sunny California when I went to Armando's 3 day, $ 1,500 seminar in Cambridge ma last weekend... to be honest it was informative for basic flip techniques, but was so annoying listening to great he is at real estate investing, but I guess he is, I mean he has turn key properties for you to invest in which he already owns, then he owns the PM company that will be running your property so I guess hes making cash at every end of the deal !!!! to be honest I kind of still want to go !! then I say to myself take the 30k and do your own deals. But am I missing out on getting in with his network? I mean its all about your network right? Im building a solid foundation here in mass but is it easier in Orlando? California? Texas? IDK figured I'd get into some forums and see what's really going on , looking forward to see what people have to say about the "guru's" thanks guy's

He wants $30,000 for a bus tour!? That's unbelievable. I believe I can learn something from everyone and I believe in the value of education, but in nearly any market you can figure out how to make 8-10%+ (and sometimes +++) on any real estate investment. Honestly, I'd suggest finding a local mentor and spending the $30,000 on your own deals. My two cents.

Welcome to the BP family. Start listening t the pod casts and explore the tool bar. Sit back for awhile and then decide in which direction you should take. Again welcome aboard.

save your money. Why would you even think its worth it to deal with these fools. You could use that money for a down payment. 30k is just crazy

yes Daniel,, 40k if you wanted to do the cash flow tour!!!! thanks for the advice John

@Christopher Moran Have you joined your local REIA? Here's a list: Massachusetts REIAs

I recently went on a property bus tour with my local REIA. The cost? $59, lunch included. Was lunch included with the $30K Montalongo tour? :)

Anyway, we got to visit multiple properties under renovation as well as speak to different contractors and owners to learn more about the individual projects.

Don't waste your time/money. As @Daniel DiGiacomo mentioned, you'd surely learn something from the experience - but $30K worth of knowledge? Not likely. As for the "networking"...do you really think that by shelling out $30K Armando will add you to his speed dial and introduce you to his inner circle? It might get you onto his priority email spam list with custom addressed email ads, but I don't think you're going to get access to anything special that you can't find in this forum or through your local REIA meetings...for free!

If you really want to do some networking, you should spend $10K and hire this guy (The Dan Band):

You can use the extra $20K on booze and party favors, and I would certainly come hang out with you and let you into my "network", as would many other seasoned RE investors who could open up at least as many doors for you as Armando!

Originally posted by @Ned Carey :
If you get to keep the bus that may not be a bad deal.

LOL!!

i'm definitely gonna try to keep the bus!! lol @Michael Seeker

you fly to Boston i'll host a sweet party after we land some deals !! then we get the band

@Christopher Moran so you got the discounted package. It's usually $40K. Save the money. Better yet, use it as down payment for a couple of turn key properties. I have never been able to understand why people pay $30K or $40K for the privilege of buying one of his over priced turn key properties. I've had more than a few people contact me asking if I could help them unload a property in Indianapolis that they bought on one of his bus tours. I couldn't help them because I didn't want to be a part of the types of properties he sold them. That's just my two cents but I would never spend that kind of money on what he offers.

@Christopher Moran from what I've seen there are some places that are better/easier to get started than others, but everywhere you are there are several different ways to make money in real estate. I only say several as opposed to TONS because it's difficult to get good at all of them (bus tours being one of them apparently). The most difficult thing being finding the deals. Good luck man, I know you'll do well, just start doing and don't stop till you get somewhere you're heading.

Tell you what, pay me $10k, I'll take you on a tour of sunny so cal and we'll go to some of the REIA's in the area and give you the same education. I'll buy you 1 Lunch too!

But like everyone else said there's a better way to spend $30k. The only programs I would say are worth 30k are Hand Holding Mentor Relationship, if and only if, you are the type of person who needs that to get going, can afford it, and see 30k worth of value in it.

im glad your using your head and decided to do some more research chris take people up on theire help an join some of the groups

Christopher, here are a couple things to help your decision to not spend the money on the tour:

1. Do some searches here on BP using the word Montelongo

2. His network? Really? I once got a call from a borrower who had paid $100 for a list of hard money lenders that Montelongo was selling as being his special vetted list. My name was on it, but his organization had never contacted me and he didn't know me from Adam. He had simply scraped my name off the internet.

3. I think if you do some web searches you'll find the Montelongos have some bankruptcy issues, so they probably need your 30K more than you do. <joke>

4. Between Bigger Pockets and local networking, you can find real connections that will actually help you instead of suck you dry. There are a bunch of MA investors here on Bigger Pockets, set up your keywords to include MA, Boston, and Massachusetts to find them and be notified when a conversation is posted.

5. I definitely recommend you start going to networking events in Massachusetts, but before you show up at some of the events on Eleena's list, be sure to call them first. About half on that list are no longer in existence, so check them out first. The closest to you is BostonAREIA in Medford (not Newton). Leave your credit cards at home when you go to these events when they have selling speakers, so you won't be tempted to pay $30,000 again.

6. Every time you are about to attend a selling speaker event, google them first with the words scam or bankruptcy and see what pops up, it will help put it in perspective. I'm absolutely not saying that all selling speakers are scammers, some of them have good products at reasonable prices. You just have to be careful where you spend your money.

Good luck

stupid idea. Don't do it

@Christopher Moran

Welcome. Time to build the legacy and foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 60 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

Disclosure: I've worked with people that have used this service

Welcome @Christopher Moran !

We have similar bus tours here in Indianapolis but they are free and very educational. Let me know if you ever consider the Indy area and I'll glad to show you around!

First off, welcome to BP.

You'll notice that 100% of the responses advocated against the event. That's for good reason. Most new investors are sucked into the dream that a guru will open the doors to success over night and, unfortunately, that's just not the case with real estate. Once you start getting more involved and knowledgeable you'll realize that, like anything else, it takes time and lots of work to build wealth. And to become truly successful, you'll need to build systems and treat this as a business.

Now, I will say that I can see the value in paying for a coach, mentor or at the least, partnering with an experienced rehabber to reduce the learning curve. The difference is that they'll be adding more value to you than they are charging.

As I'm assuming you are looking to get into rehabbing, I would recommend that you:

- Attend local networking events

- Spend some money on marketing to motivated sellers (research how to do this)

- If you're nervous about doing your first rehab, wholesale the deal to another rehabber and ask them if you can learn from them or partner with an experienced rehabber. Lucky for you, there are a lot of active investors in our area. You'll meet some of the more experienced at the Black Diamond event in Waltham.

Good luck!

This post has been removed.

Originally posted by Account Closed:
@Christopher Moran

Welcome. Time to build the legacy and foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 60 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

Paul is right on the money! Learn for free and take that $30k and put it on a REI deal!

hello everybody that has responded to this blog thank you very much i had a conversation with ann bellamy and she had made me realize that some things really never change in life you have to ask a lot of questions and be patient things do not happen overnite she gave me some great advice about looking things up and where to get free advice and for that I'm very grateful thank you ann she never has meet me or my son an has offered some great things to me and the best was it was all done for free so yes i will be going to a free seminar in shrewsbury mass an waltham mass thank you again ann

great posts great advice and so helpful!!!! thanks a ton really appreciate all the help...

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