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Armando Montelongo system
I've recently purchased Armando's system and 3 day live course. Good or bad? After the purchase I read a lot of things about a scam which has made me a bit skeptical. I just want to hear someone else's thoughts...
Thanks
So funny I havent seen anyone complain about getting ripped off from a University. Arent they charging absorbent tuition only for their students to come out with nothing to show for it? I believe that is the biggest scam running right now. I just spoke with a gentleman that graduated from UCF with a 4 yr degree. He questions why he went because he feels like he didnt gain anything
Well put!
There is a reason why Montelongo's brother is suing him: all about the money.
I went to one of these $20k 4 day courses and I did learn the basics, but I had learned the basics in the $20.00 book I read before I went. It was not the holy grail they promised it would be, but they promised I would get that if I would paid an additional $40k to get it into the next Master seminar. Personally, it was not even close to being worth the money, if was fun and exciting, but not a $20k education, and half the time was spent trying to get me to open my checkbook again to get what I was promised in the 1st seminar.
Those that make the comparison that it's the same as paying for a 4yr degree miss the fact that you get FOUR YEARS of education there not four DAYS. For a few hundred bucks it would have been worth it, but these people are predators promising the world, and end up giving you a $1 bottle of sand.
Worse is they prey on people that don't know any better and don't really have the money to spend, pushing you to call all your friends and family to raise funds, and if that doesn't work calling all your credit card companies to up your limits and/or tell you how to apply for new credit cards to raise the funds to pay for their next "WE PROMISE TO TELL YOU THE SECRET THIS TIME" seminar.
They burned me the first time, I didn't fall for it on the second up-sale. Especially since the up-sale was done during the last day in my "Here's what to do next and business strategy and planning" meeting, after which they refused to do and go over with me because I didn't want to buy into the next seminar.
I hope this helps anyone not make the mistake I made. If you have $20K you are planning to invest in your education with one of these guys, do yourself a favor, Google "best real estate books" find a few with good reviews buy and READ them, start going to your local REIA's and network, maybe find a mentor and pick their brain over lunch, and then take the $19,950.00 you have left over and start making deals.
Originally posted by @Mike Hurney:
So funny I havent seen anyone complain about getting ripped off from a University. Arent they charging absorbent tuition only for their students to come out with nothing to show for it? I believe that is the biggest scam running right now. I just spoke with a gentleman that graduated from UCF with a 4 yr degree. He questions why he went because he feels like he didnt gain anything
Well put!
Not really... If that gentleman didn't get anything out of FOUR YEARS at a university, then he obviously wasn't there to learn. This comparison is completely ridiculous.
@Steve Bickle So what have you and your girl done with that knowledge? (either the $20k 4day course or the $20 book or the $50 book)
Do you think you weren't there to learn?
Armondo Montelongo system
Originally posted by @Mike Hurney:
@Steve Bickle So what have you and your girl done with that knowledge? (either the $20k 4day course or the $20 book or the $50 book)
Do you think you weren't there to learn?
Armondo Montelongo system
My wife and I had done 2 rehab deals previously after reading a few books and another rehab and picked up 2 cash flows since. None of which I would attribute to anything I learned at the "training". Like I said they didn't teach anything you couldn't learn out of a book, it was very basic. Of course we went to learn, we paid $20k. My point is there is a huge difference bt 4 years and 4 days, like an additional 1196 days to go into the full depth of a subject. The comparison is ridiculous, if you can't see that you are just being a cheerleader for these guys.
Ugh, the guy is like a slimy used car salesmen. What does the 20k get you? A bus tour through the war zones where he flips his houses?
If you're into dealing with car salesman, you'd be better off using the money to buy a classic Porsche 911, using the buy and hold strategy, and watch it appreciate.
@Steve Bickle I'm no cheerleader, thanks.
Some folks get duped no matter what they buy, sorry to hear you lost $20k and got nothing out of it except sour grapes.
@Mike Hurney Like I said if it was a few $100's it would have been worth it. I got the reinforcement that what we were doing was right, the knowledge that there is a ton of money out there waiting to be invested somehow, after all there was probably 100 people there and at $20K a pop he had raised $2 million for 4 days worth of "work", the opportunity to network with some good people, and probably the most important thing was "There is no easy road to success".
It was something I already knew but I got caught up in the hype bc real estate wasn't something I knew a ton about, and even though red flags were going up all over the place, I believed maybe there was something these guru's know that I don't know that would make this whole process painless, and maybe $80-100k down the road I would have got there, who knows, but I couldn't take that risk and continue ignoring my gut instinct.
I just want to save someone from having to learn that lesson the hard and expensive way. These seminars are used to draw people in and then suck as much money out of them as they possibly can without concern for the people they are taking advantage of.
It's "Profits without conscience"... and that is something that in general is destroying our country.
A famous Surgeon lives behind me and he had trouble with his heat at 3:00am. He called a Plumbing company and an older Plumber showed up. He looked over the system for about 45 minutes and replaced the thermocouple.
The heat came on and the surgeon was ecstatic! Until he received a bill of $500.00
He confronted the Plumber and said "That's $500/an hour. I'm a famous surgeon and even I don't get that much money!"
"No kidding..." said the Plumber "I didn't get that much either, when I was a Neuro Surgeon!"
Sometimes you need it and it's worth it. Your Experience May Differ...
@Steve Bickle Hey Buddy, let's move on and make some dough, Happy Labor Day, the Hurricane missed us!!!
In 2012 my partner and I spent 20K a piece to get into a Guru system. I do not think the amount of money you spend is worth the amount of Knowledge you receive. At the same time it did open my eyes to Real Estate investing, and I have flipping sense then so I do not regret it. This site is more informative by far than the system I Invested in. Listen to the pod casts, and forums and soak it in,these are people that are in the trenches every day doing deals.