Armando Montelongo
Review of Armando Montelongo Seminars, Bus Tours - Scam or Not?
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[Sources for reviews include the Better Business Bureau, Attorneys General, FTC,
customer input, scam reviews, and our personal review. Armando Montelongo is invited to provide any contradictory
information for which they have clear & compelling evidence]
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This review of the Armando Montelongo seminars is a difficult one to write. We had such high hopes for Armando Montelongo, whereas he was the (former) "star" of the A&E television show, "Flip This House". We enjoyed the show. But do not let that lull you into a belief that his real estate course will make you money, or that the cost will not drain your bank account (see below). Of the 24 methods of real estate investing, Armando Montelongo only seems to teach one or two, primarily fixing & flipping foreclosures, which has very limited applications. That's like a carpenter trying to build a house with nothing more than a hammer. If this is the only strategy you are interested in, Armando Montelongo is good at it. But his price for teaching you is incredibly high.
BETTER BUSINESS BUREAU RATING:
Armando Montelongo Seminars LLC had an
"F" rating with the Better Business Bureau, but they have managed to boost that to an
A+, which shows an effort to do better with responding to complaints. NOTE: you get an A+ rating at the BBB simply by RESPONDING to complaints filed with the BBB.This
in no way signifies the complaints were
resolved to the customers' satisfaction, and does not consider any complaints not filed with the BBB.
The BBB had posted an online SCAM ALERT
in connection with real estate seminars and boot camps in general.
COACHING: Add-ons such as coaching and "bus tours" run anywhere from $1500-$30,000+. Like most other "gurus", Armando Montelongo coaches do not appear to be actual, practicing investors - if they are, and Mr Montelongo is willing and able to state that in writing, we encourage him to do so and then we will state that here. If coaching is important to you - and success usually depends upon it - only Bill Vaughn's course, "The Simple Man's Guide to Real Estate" provides unlimited coaching by professional investors for free to assure your success.
The majority of the BBB complaints against Armando Montelongo Seminars stem from the poor quality of coaching, and the large sums Montelongo's "students" lose to him because they do not believe his program performs as advertised. A percentage of such complaints can likely be attributed to "sour grapes", by people who just do not put in the effort. However, it is telling that 422 former customers spent 2 years suing him, though unsuccessfully.
SUCCESS RATE: No statistics are available, as Armando Montelongo does not appear to track successes. When a reporter for Forbes asked Mr. Montelongo to provide successful seminar alumni, Montelongo came up with only two - and neither one had made a million dollars.
Forbes goes on to say, "The one certain multi-millionaire to emerge from Armando Montelongo seminars? Montelongo himself."
OVERALL COST: Although initially the cost appears to only be a "free" Live Event seminar, that free seminar morphs into a $1500 3-day seminar, which is used to push his $30,000+/- "bus tour". The overall cost for Montelongo's entire offer can well exceed $40,000. If you choose to attend one of his "free" seminars, understand that you will be subjected to high pressure sales to sign up for the "next step", usually a 3-day seminar, at a high cost. As stated by Forbes, real estate seminars are not for teaching, they are for selling. People choosing to go to any such real estate seminar should be aware of that.
COMMENTS: Many people who have attended Armando Montelongo seminars report that he often does not even show up at them (which has also been reported to the BBB), instead leaving others do the "heavy lifting". As to all the online complaints, when the number of unsatisfied customers is substantial as is the case with Armando Montelongo Seminars, then you know there is likely to be a real problem at the core.
All in all, we are sorry to say Armando Montelongo seminars do not meet even our minimum standards. But if you want to place your trust - and money - with a TV "reality show" personality, at least you now have your eyes open. Is Armando Montelongo a scam? You decide. But before you whip out your credit card, make sure you read all the small print.
A BETTER, INEXPENSIVE ALTERNATIVE:
Before risking hundreds, thousands or tens of thousands of dollars on Armando Montelongo seminars or any other course, do yourself a favor and check out the only real estate investing course that rates more than 4 stars - Bill Vaughn's "Simple Man's Guide to Real Estate". At under $150 complete (which includes unlimited coaching), the money you save can be invested in yourself! It is the only investor training course that operates on a non-profit basis so it is affordable to all and provides free lifetime mentoring by actual investors. And their new V.I.P. Club guarantees you will close on at least (4) properties your very first year.
They also have an "A" rating at the Better Business Bureau and the highest documented success rate of any real estate course.
A few words about real estate investing in general. Real estate is a great way to make money, but before you invest in ANY
Real Estate program by Armando Montelongo, or anyone else (even ours), consider these points...
We're not going to tell you that you will be a millionaire in 6 months. After all, we don't know you, or how determined you are. And there are many factors not within our control. Nevertheless, you should understand some very important points:
1) Forget the hype of promises like those made by some infomercial gurus - real estate investing is NOT a "get-rich-quick" scheme, and there are no "cookie-cutterr" strategies, but it WILL make you rich, and can put a lot of cash in your pocket in a short time, if you have the right guidance. But REAL wealth takes a little time and effort on your part. If you have difficulty getting off the sofa, save your money.
2) If the program you are considering does not provide personal mentoring by actual practicing investors and at a reasonable cost (or free, as offered by The Simple Man's Guide to Real Estate), it is unlikely you will ever get your investing career off the ground unless you already have some experience. There are just too many variables in this business, which makes it impossible for any program to be a "stand-alone" career guide. Without a mentor to help you get started, these variables will stand as a barrier between you and success. Most gurus charge from $2,000 - $45,000 for coaching, and THEIR coaches are not necessarily successful investors. Again, with "The Simple Man's Guide to Real Estate" the mentoring is always free, easy to use and our mentors are practicing investors, not telephone operators or "couch investors". Your mentor will be there every step of the way, holding your hand, so to speak.
3) Real Estate investing is not for everyone. Success in this field, as with any other, requires effort, and it can frustrate you, and take a toll emotionally. But the rewards are wealth, the freedom that wealth brings and a 4 hour work-week, for starters...in short, there are three things you need to succeed in real estate:
If you can provide the last one, "The Simple Man's Guide to Real Estate" can provide the rest and your success is assured.
NOTE: Most infomercial gurus do not provide in-house mentoring by qualified investors. Rather, most of them subcontract the mentoring to disreputable companies such as Mentoring of America etc. Before buying into any mentor or coaching program, you would be wise to ask the company EXACTLY who provides the mentoring. Ask if the mentors are actual, practicing investors and if the mentoring is provided in-house, or if it is provided by a third party.
Most programs are not complete or self-explanatory, with the logic being that the customer would then need to buy into their expensive mentoring, which is what they are really selling. But if the coaching is free, as it is with "The Simple Man's Guide to Real Estate", you can rest assured that the program, itself, is complete, finely detailed, and easy to understand. Again the logic is simple - the more complete the program, the less need you will have of a coach. And when coaches are free, it is important to keep the "need" to a minimum, so we provide the most detailed course possible.
Regardless of which course you may purchase, we wish you the best. And if you have questions, feel free to ask. We are here to help.
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