Armando Montelongo
(TV Show A&E Flip This House)

Who is Armando Montelongo

When Forbes Magazine, one of the world’s most respected business publications, calls Armando Montelongo a “Home-Flipping Huckster Who’ll Make $50M a year,” you had better sit up and pay attention.

While we wish that Forbes had just used the words “Scam Artist”, we do understand why they chose to be a little more politically correct.

The star of A&E’s Flip this House, Montelongo is the one Guru in this space who has attracted the biggest tidal wave of criticism.

As we promised that we were going to remain as impartial as possible, we’re just going to quote portions of the Forbes article and let you make up your own mind.

How Do Armando Montelongo Trainings Work?

“Armando Montelongo Seminars offers long weekends of questionable advice, raucous showmanship and tours of foreclosed homes in some of America’s poorest sections. His secret formula: Go deeply into debt to buy distressed properties, fix them up minimally and sell them quickly. “People throw money at me to become multimillionaires,” Montelongo, a large, stocky guy with shoulder-length black hair, tells the crowd. “This is the means to your end… The one certain multimillionaire to emerge from Montelongo’s seminars? Montelongo himself. His formula is simple: First, expose people to his system through a 90-minute free seminar. Then funnel them into a second (cost: $1,497 per couple) and, finally, a third: a three-day extravaganza like the one I attended that runs $40,000 for two. Montelongo claims his San Antonio, Tex. company will rake in an estimated $100 million in revenue this year from 350,000 people attending one of 3,580 events. That’s up from 57,000 folks at 120 seminars, generating $12 million in sales in 2009, its first year of business. If Montelongo’s numbers are accurate, and his margins are typical for this kind of thing, then he will personally pocket $50 million this year (he owns 100% of the enterprise). By that same yardstick his business is ostensibly worth $80 million. Add that to cash and traceable real estate (discounted 65% for debt) and Montelongo has somehow built a fortune of $200 million or so from telling others to borrow and speculate..."

Adam Brown, Associate Editor Forbes Magazine

Moohlah – what’s the Cost?

“The one certain multimillionaire to emerge from Montelongo’s seminars? Montelongo himself. His formula is simple: First, expose people to his system through a 90-minute free seminar. Then funnel them into a second (cost: $1,497 per couple) and, finally, a third: a three-day extravaganza like the one I attended that runs $40,000 for two. Montelongo claims his San Antonio, Tex. company will rake in an estimated $100 million in revenue this year from 350,000 people attending one of 3,580 events. That’s up from 57,000 folks at 120 seminars, generating $12 million in sales in 2009, its first year of business. If Montelongo’s numbers are accurate, and his margins are typical for this kind of thing, then he will personally pocket $50 million this year (he owns 100% of the enterprise). By that same yardstick his business is ostensibly worth $80 million. Add that to cash and traceable real estate (discounted 65% for debt) and Montelongo has somehow built a fortune of $200 million or so from telling others to borrow and speculate.”

Adam Brown, Associate Editor Forbes Magazine

What’s The Refund Policy?
Your guess is as good as ours but we're guessing it is non-existent.

Reputation & Track Record
If it walks like a scam, and talks like a scam, and Forbes magazine did a giant expose on the company then… you draw your own conclusions.

Common Complaints
Honestly, we are exhausted writing about this guy (and we feel a bit dirty and need to take a shower after sitting through some of his incredibly icky sales pitches). Our advice is do your own research but start with the Forbes article

Next Steps:
Over to you, but if you are seriously considering moving forward despite the Forbes expose then...well, all we can say is be very, very careful.  His website www.ArmandoMontelongo.com

Additional Information

For information on other gurus and to see how they stack up against one another, please visit their individual pages:

Ron LeGrand

Fortune Builders: Than Merrill

Success Path Education: Tarek and Christina El Moussa

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