Why does everyone seem to despise Armando montelongo?
Real Estate Agent · Pompano Beach, FL · Member since 2015 · 249 posts · 73 votes
A lot of these how-to guys seem to be not really liked much by investors I have noticed.
Armando was a great TV character, I found his show to be funny and entertaining. The issue is the only reason any of these TV flippers have the shows is to pitch their guru scams. The TV shows are all scripted and are for entertainment only.
They offer these free "seminars" that don't actually contain the "star" you were hoping to see. The seminars cover the following information
1. Call your credit card companies and ask for additional credit/Open new credit cards
2. You can buy houses with no money at all and flip them for huge profits!!! See step 3.
3. Pay $1-2k for the VIP seminar.
4. Find an agent that will beg you for your business to blindly submit 100's of offers on MLS properties at 50% of the list price.
5. Market these properties to your buyers list for huge profits!
6. Since you haven't actually made those huge profits yet.....now you need to pay $30-50k for the hands on coaching so you can really learn how to do this.
7. Keep making offers on MLS properties and continue to try to wholesale them.
8. Figure out how to pay off all the credit card debt you just racked up when you haven't made a single dollar with their "method."
I've got to give it to Armando though. Going on "Undercover Boss" so he can better understand how he can help his employees and the folks who actually forked out the 40K to succeed shows what a thoughtful guy he is. <insert eye roll here> A giant primetime Montelongo commercial! Every time I pass a Hummer in SA I think of him. LOL
The getting into debt part is also not something that is exclusive to gurus, hell, there are 100s, probably 1000s, of posts on BP forums promoting the same type of strategy that they use. Essentially leveraging out cash and getting into massive amounts of debt.
There is a big difference between secured/leveraged debt and unsecured/unleveraged debt. To lump them together in comparison is laughable...it's like saying, "A pound of gold is no different than a pound of salt-- they're both a pound of natural mineral!"
I completely agree, I'm just saying the system that is most often used by guru's is to buy distressed properties, minimally rehab them, and then sell them at a guaranteed enormous profit. Now besides the "guaranteed enormous" that sounds like any number of BP threads that have been posted time and time again. Sure the guru types are more about excitement and emotional decision making, but that's sales 101,
Like I said I get why most people hate the guru programs, and I certainly would never pay for one. That being said, if you break down what they do, and compare it to similar companies, it doesn't seem to warrant the extreme hatred they get on BP, unless maybe people are just jealous that these guru programs can make $40,000 for listening to questionable advice, when no one will listen to their good advice for free?
Granted, I agree that their sales practices are very sketchy and intimidating, but that can be the case in many industries. I did consulting work for a car dealership about a year ago, and they were bleeding money because they were an old school, hard sell dealership. No one hated them for it, they just chose not to buy cars there. That's why I don't understand the extreme reactions from people, if I said I could turn lead into gold and ill teach you for $100.00 and then got out a can of gold spray paint, would I be evil for taking your money, or would you be silly for giving it to me?
Again, no real interest in any of the gurus or programs, just fascinated by how polarizing they are.
Adam
So Adam....let me start by saying that I am not trying to be abrasive....it is truly not my intent....and I am new to BP....with that said I will stick my head in the lions mouth...
Montalongo has a HORRIBLE reputation....for all the reasons stated here...look him up at all and you'll see why....chapter7 for his personal, while his "company" (by and large connected is making money hand over fist teaching about how to become successful like him)....sleazy behavior. Suing his brother, the way he treats everyone...it's all out there....so yes sleazy behavior to say the least.
Second, folks here, nor anywhere, are jealous that anyone would pay them for advice they could offer for free....that's not the point....folks don't like other people being taken advantage of....if he was truly "teaching" these folks how to be successful...then why does no one ever hear about the great success stories coming out of his service?? Other than the unverifiable shills that tout 1 amazing deal in their first 30 days of business....nothing.
As big as BP is don't you think that there would be a plethora of folks here saying that his program was worth every single $40k+ they paid for it...you not gonna find it sir. So...no...no one is jealous of a guy like that...just sorry that others got duped.
Third, if you were selling the idea that you could turn lead into gold....you would definitely raise some eyebrows...maybe even get some folks to pay you for the privilege of listening to your program....but here's the difference (and, frankly, it's more than disconcerning that you don't get this) you sold them on the fact that they could turn LEAD into GOLD, not turn LEAD PAINTED GOLD....and that young man is the difference...they are not dupes...you sir are a criminal...it's called fraud....easy to figure in your scam...harder in the real estate game...but it's all the same.
So when you sell your next property, and bill it as having "unique plumbing" (or whatever) and then justify the sale by fact that the buyer should have been more savvy....just remember that someone trusted you...and you screwed them over for a buck...because in your words they were "silly to give it to you".
I'll wait for YOUR program to show up for sale to see if I'm right...and hopefully you'll prove me wrong and DO THE RIGHT THING.
I swear sometimes I weep for the youth. Good luck.
The getting into debt part is also not something that is exclusive to gurus, hell, there are 100s, probably 1000s, of posts on BP forums promoting the same type of strategy that they use. Essentially leveraging out cash and getting into massive amounts of debt.
There is a big difference between secured/leveraged debt and unsecured/unleveraged debt. To lump them together in comparison is laughable...it's like saying, "A pound of gold is no different than a pound of salt-- they're both a pound of natural mineral!"
I completely agree, I'm just saying the system that is most often used by guru's is to buy distressed properties, minimally rehab them, and then sell them at a guaranteed enormous profit. Now besides the "guaranteed enormous" that sounds like any number of BP threads that have been posted time and time again. Sure the guru types are more about excitement and emotional decision making, but that's sales 101,
Like I said I get why most people hate the guru programs, and I certainly would never pay for one. That being said, if you break down what they do, and compare it to similar companies, it doesn't seem to warrant the extreme hatred they get on BP, unless maybe people are just jealous that these guru programs can make $40,000 for listening to questionable advice, when no one will listen to their good advice for free?
Granted, I agree that their sales practices are very sketchy and intimidating, but that can be the case in many industries. I did consulting work for a car dealership about a year ago, and they were bleeding money because they were an old school, hard sell dealership. No one hated them for it, they just chose not to buy cars there. That's why I don't understand the extreme reactions from people, if I said I could turn lead into gold and ill teach you for $100.00 and then got out a can of gold spray paint, would I be evil for taking your money, or would you be silly for giving it to me?
Again, no real interest in any of the gurus or programs, just fascinated by how polarizing they are.
Adam
So Adam....let me start by saying that I am not trying to be abrasive....it is truly not my intent....and I am new to BP....with that said I will stick my head in the lions mouth...
Montalongo has a HORRIBLE reputation....for all the reasons stated here...look him up at all and you'll see why....chapter7 for his personal, while his "company" (by and large connected is making money hand over fist teaching about how to become successful like him)....sleazy behavior. Suing his brother, the way he treats everyone...it's all out there....so yes sleazy behavior to say the least.
Second, folks here, nor anywhere, are jealous that anyone would pay them for advice they could offer for free....that's not the point....folks don't like other people being taken advantage of....if he was truly "teaching" these folks how to be successful...then why does no one ever hear about the great success stories coming out of his service?? Other than the unverifiable shills that tout 1 amazing deal in their first 30 days of business....nothing.
As big as BP is don't you think that there would be a plethora of folks here saying that his program was worth every single $40k+ they paid for it...you not gonna find it sir. So...no...no one is jealous of a guy like that...just sorry that others got duped.
Third, if you were selling the idea that you could turn lead into gold....you would definitely raise some eyebrows...maybe even get some folks to pay you for the privilege of listening to your program....but here's the difference (and, frankly, it's more than disconcerning that you don't get this) you sold them on the fact that they could turn LEAD into GOLD, not turn LEAD PAINTED GOLD....and that young man is the difference...they are not dupes...you sir are a criminal...it's called fraud....easy to figure in your scam...harder in the real estate game...but it's all the same.
So when you sell your next property, and bill it as having "unique plumbing" (or whatever) and then justify the sale by fact that the buyer should have been more savvy....just remember that someone trusted you...and you screwed them over for a buck...because in your words they were "silly to give it to you".
I'll wait for YOUR program to show up for sale to see if I'm right...and hopefully you'll prove me wrong and DO THE RIGHT THING.
I swear sometimes I weep for the youth. Good luck.
So I guess first of all...
http://www.consumeraffairs.com/misc/armando-montel...
4 Star rating on 25+ reviews on consumer affairs, doesn't seem overtly sinister... This was the first link google gave when I searched Armando Montelongo Reviews. So I guess the "Look him up at all and you'll see why" argument doesn't really work. As for the complaints, yes there are a ton when you do some digging, and I would be wary of doing business with him. That being said, you can find unintelligent client complaints alleging all manner of ridiculously atrocious improprieties about any number of Fortune 500 companies. This doesn't make them evil or inappropriate.
There are plenty of people out there who are happy with this guys services, granted they are probably not very smart, but ill get to that later.
Second, again, not sticking up for this guy in particular, or any Guru, as I think their systems are ridiculous, but...the strategies this guy preaches are the same strategies I see on BP all the time, so the info that they are selling is the same info people give here for free. I've never been to one of these seminars but I have spoken with many people who have taken seminars by this guy and any number of other guru's, so I have a fair idea what type of pitch they are making. Not sure how the same information at different price points is a ripoff. Milk is more expensive at Walgreens than Albertson's....Down with that evil corporate thug Walgreens! Right? Oh...Different business model you say? Free market you say? If they charge too much for milk, no one will buy it you say? Oh I suppose that makes sense, I guess everyone who bought milk at Walgreen's isn't getting taken advantage of, I guess they are just paying for a service they find more valuable than I do.
Third, my lead to gold reference is really more about peoples perceived stupidity and differences in priorities and preferences than weather or not there is fraud being committed. Essentially the point I was trying to make is: Some people are going to throw their money away on things you may not see as valuable. My grandmother is one of these people to me, she buys essential oils, and quarter collections, humidifiers and dehumidifiers cause somehow having both running is better than having neither. Shes just gullible. It drives me completely nuts, but those are her choices to make. I absolutely love a good craft IPA, a Stone Enjoy By or Lagunitas Hop Stupid, but my grandmother hates beer and thinks buying it is the biggest waste of money ever, but those are my choices to make. Just because you don't see value in Guru training, or think that somehow all of these people are perpetrating fraud just because you don't like the price they charge for services, doesn't mean everyone else does too. Guess what, if I don't like what my mechanic charges me, if I think the fee is completely outrageous, I don't call him an unethical crook, I find a new mechanic. I'm an adult, I prefer to act like one. It's kind of a basic principle of the free market, inferior products at higher prices will naturally be weeded out by the market. They won't be able to survive if other companies provide better services for a better price point. Clearly that is not happening as these Guru's only seem to be growing. Again I have no dog in this fight, I just love playing devils advocate.
And if you think that those people here on BP aren't jealous that these people didn't want their advice, look at any thread about "I got taken advantage of by a Guru." There certainly seems to be a lot of "I told you so" and "You should have come to BP and learned for free". Both points I agree with, but none the less, it's certainly a lot of smugness going around, like "ha ha I was right and they got screwed, I told them not to deal with a Guru." And a lot less empathy of "That really sucks, here is what they should have taught you, and here is the best way to move forward."
Fourth I don't sell properties. But I do buy a house every now and again, ya know to live in. I think paying 6% for a realtor is absolutely insane, there is no reason for it, and realistically they provide less information to me than I think a Guru does to someone silly enough to take their class. Again I don't hop on BP to crusade against realtors as greedy pigs who sold houses for more than they knew they were worth to people they knew couldn't afford it just so they could make commissions, those scumbags... Nope, that's their job, and while I find it a completely unnecessary service, many people out there would be completely lost without a realtor. I have FINRA series licenses, all of the information you need to pass the tests to obtain those licenses is available for free on the internet, but that in no way means I could have passed without paying for an expert service telling me what to study and how it was weighted. Remember not everyone finds RE as easy as you do, and some would rather learn from a big TV name in a big fancy convention hall and be wowed by presentation, and not take the same info from some random person on a message board.
I'll wait for YOUR program to show up for sale to see if I'm right...and hopefully you'll prove me wrong and DO THE RIGHT THING.
I swear sometimes I weep for the youth. Good luck.
I'm not sure if you lost composure there towards the end but I'm not sure how this could be anything but abrasive. I don't have a program, and if I did, it wouldn't be very successful. It would basically consist of managed risk, lots of diversification, and constant diligence on managing your portfolio, or hiring someone who will. I know it doesn't sound so flashy, but I think it works the best. I think the most unethical part of a Guru's strategy is the heinous amount of debt they want you to take on, but the same could be said (and I have) about many of the systems here on BP, so again, if the information is the same from a Guru and BP, with the only difference that the Guru does a ridiculously better job of marketing and advertising, how is a Guru an unethical sleaze, while anyone not charging for the same broken strategy is not? Again I think it comes down to the fact that people are mad that they would pay someone else for bad advice, when no one will take their good advice for free. It seems to be a big deal for anyone over 55, like they have the best advice and if you listen to anyone else, even if that person gives identical advice, then you're dumb. Cracks me up.
Sometimes I weep for the elderly, Sorry =) Couldn't help myself.
Adam
I hate him because he is an irritating greasy slimebucket, And he comes on tv in the middle of the night. Then when I try to find the remote, I wake up my GF and she rags at me.
I'd pay $1,000 to watch that azzwhole get run over by a train. $2,000 if I got to drive the train.
Ok...Adam. You win.
But to clarify...If you only found good things about montelongo you are in the minority...I can find websites that say hitler was great...that don't make it so.
Would love for you to hook us up with "plenty of people out there who are happy with this guys services"
Also, I am not against capitalism...shop where you like...fine with me...never said anyone was a crook simply for pricing their goods differently. The point you keep missing (in your other post and last one as well) is that in either example you are not getting what you were promised....
Milk $4.00 vs milk $6.00 your choice but you are still getting milk.
$40k for personalized mentorship blah blah blah vs $997 for a course on house flipping are 2 different animals...especially when the $40k guy takes your money, walks you to the river and then says...that'll be another $40k....that's not what "mentorship" is. And abrasive as it may be to you...that's just common sense to most.
I'm in emergency medicine...after paying for your health insurance....how would you like your doctor to get halfway through a procedure only to say....uh sorry that'll be another $xxxxx to show you how we finish this heart transplant...or is that his right too?
200000+ posts on BP and their was ONE where someone was jealous...that's your yardstick for comparison of how most people feel about things? How about the rest of this topic alone??
My last statement about weeping for the youth...I stand by...as did generations before me weep for us...because (as a general rule) you don't have enough experience yet to know the implications of what you say...don't worry though...right now I'm the bigger fool...for caring enough to try and lead the un-leadable down a more righteous path...you know like giving a crap whether someone gets ripped off.
And while you may think the info here on BP is stale and the same tired advice...it didn't cost anyone half a years salary to get it....that's my point.
I'm sure we will end up friends Adam...but right now you're channeling my younger brother who loved to argue, but never gave himself ground to stand on...in other words it's not a discussion it's just exhausting.
So, I surrender...whatever you come back with is the smartest thing I've ever heard and you've totally turned me around on montelongo...I'll be calling a him for a date.