Armando from Flip This House
Armando Montelongo, star of A&E’s “Flip This House” talks to Chris McKay about how people can make real cash using his easy to follow system for buying and selling real estate. Our Website is TheChrisMcKayShow.com
On today’s show discover:
- one of the biggest transfers of wealth going on right now and how you can join in
- how to generate new money fast!
Podcast: Play in new window | DownloadRead the Full Transcript from the Interview
This is a prepaid program sponsored by real estate training international
I’m Chris McKay and I’m happy to have you along today as we explore and discover the secrets to health, wealth and better living.
Alright you don’t want to miss our show today because of the next half hour to be talking about the biggest transfer of wealth that is happening today and how you can create new money fast.
You probably already know my guest today especially if you’ve ever watched “Flip this House” on A and E. That’s right, I have Armando Montelongo in the studio with me today Armando is one of the leaders in house flipping in one of the most documented real estate investors in American history. According to him you can flip houses for huge profits once you know his proven step-by-step system.
Armando was a guest on the show a few years ago when I asked him to come back on today to explore real estate is still a great investment, a good way to make some extra cash.
Great to see you again welcome back to the show!
Hi Chris How are you doing? The TV show went incredibly well and since that time period. I advance my business is everything from doing residential house flipping commercial deals even moved into the movie business but I think one of the things that most people get the most interested in his people say teach me how to flip houses.
The one thing that is interesting is we still see a lot of news just depends on the on the month I guess you know how things up housings down and talk about rates and things like that. What is going on out there?
A couple years ago the real estate market was in the dumps and what I said back then was you guys hold your horses because when this real estate market turns around it’s going to be one of the greatest transformations of wealth in American industry. I can tell you that right now I believe that this is one of the best opportunities that we have in the next 40 years.
What’s happening right now is there has been an artificial suppression of inflation. So what’s going to happen is that as the dollar is losing value we’re going to see interest rates go up and when interest rates go through the roof then it’s going to be too late for most people. I mean you have to go when your action right now.
If you want to make money in real estate I believe right now is one the greatest times in American history because there are deals to be had, interest rates are low and there was a lot of money that can be made right now.
But it takes a couple things number one you have to get educated. If you get yourself educated now you can make money. If you try to do this on your own, you’re done.
The harsh reality is when I started this I was 50,000 dollars in debt, I had no money I had no experience. The reality is because I got educated I created a system for flipping houses.
That’s why individuals can go, who have no money, who have no credit but you have to be educated and you have to be educated now.
What are the differences between today’s market in real estate vs when you got into it, is it harder, is it easier?
What’s great is the real estate market right now is a better market than when I got started in real estate. There is a much higher awareness about real estate. When I started flipping houses people were like, oh you’re a real estate investor.
Now, we’ve turned real estate into a rockstar process. When I started off I was going up stream but I created a system that made it so much easier for us to do because it was stream lined. Now there is a high awareness about real estate but you have to know what to do.
Because everyone wants to jump in. How do you get ahead of the competition? How do you beat everybody to that deal? How do you get that deal that everybody wants? How do you structure this deal? How do you get the money for that deal?
I can show you how to navigate through this market and make real money today.
Let me ask you this Armando do you think that’s the reason that more people are not taking advantage of making money in real estate is because they don’t have that education that foundation to work from?
Absolutely, if people knew that they could do this without their money and they knew they could do this without their credit then they would be out there flipping houses right now.
The reality is people don’t know how to do it they have to be educated. For people who say you know, I have a couple thousand dollars or I have someones credit line and I make some decent money then those people would be all over flipping houses.
You can grow wealth in real estate very quickly if you know how:
A to have a system
B if you’re educated
C you’re will to follow through
It’s so much easier to follow through when you know the step by step actions to take.
I think most people agree with that if they knew how it’s probably the reason why you get so many people come up to you after seeing that you’ve been so successful in real estate coming from nothing in creating an abundance of wealth and now sharing that people it’s Armando teach me how to do it right?
What happens today is that generalized knowledge no longer works. What people need to do is specific knowledge and what my system teaches is specific financial knowledge on how to do real estate. It is literally financial GPS. Armando, if you’re so successful do real estate why do you teach these seminars?
Well, when I was living in a garage and on food stamps.The reason why is because my wife Veronica was cut the wrong way when she had my son Mondo Man. In 20 minutes she lost half of the blood in her body and the doctor told me to say goodbye. She me not live past the next 24 hours. When they brought her out the nurse comes running in and says we have an emergency with your son.
I go down there my son has a blood disorder and they said you need to prepare to say goodbye he may not live past the next 24 hours. I spent the next six months nursing them back to health. But our little condominium was foreclosed on and we moved into my in-laws garage. I looked at Veronica and said if I ever learn how to be successful I’m going to teach it to the world.
5 years later we doing the television show Flip this House Veronica walked up to me and hands me a stack of ten thousand emails. I said what’s this? She said it’s the promise you made, now you get to keep it.
I realized I have to keep that commitment and that’s the biggest fire in me teaching people. I don’t want people to feel what it felt like to not have money or to be broke. The answers are out there.
But you have to do what my mentor taught me my mentor taught me that all millionaires take action now. You have to do it now because tomorrow will never come. If you wait the next day will never come. In another year you’ll say the opportunity passed me by.
You’ve worked with literally thousands of people to help them understand real estate and more importantly, a system that you’ve put together to be able to make money in real estate. Tell us a little bit about some of that experience and what these people have been able to go on and do.
What’s really great is people say to me can I really do real estate because I don’t have time. I have a full time job, I can’t do it part time. I say why don’t you do it in your spare time? Then they say I don’t have any money. I literally have taught thousands and thousands of people how to do real estate and become successful in the business of real estate.
People say I tried this business and I failed at it. Well,. before I got into real estate I failed at owning my own business, I failed at working for a painting company. I tried working for a major Pizza Company as a driver and they didn’t hire me as a driver to deliver pizzas. I’m not going to tell what pizza company it was but let me just tell you it had a domino effect the rest of my life.
Well it certainly put you on a path to help so many people. You know I’ve heard you have to have money to make money in real estate. Is that really true?
That’s what everyone says the reality is it doesn’t have to be your money. That’s the beauty of real estate is rarely do people use their own money especially when it comes to my system. If you have money I can show you how to grow exponentially.
But, if you have no money is the perfect business to get into. Because in real estate there are asset based lenders are lenders who want to loan money based upon the asset and much less worry about your credit. Here’s the great thing when you follow my system is when it’s step by step when its color by number and your’re not having to sit there and figure it out it becomes so much easier because it becomes fun.
Do you have to be handy what happens if you’re not going to swinging a hammer?
Well you can tell you that I am the least handy person in the world. If you asked me to paint a wall or build a wall I couldn’t do it. But my system definitely knows how to tell people how to do it and how to get people to do it. Then the opposite concern is true, you’ve been doing construction for 20 years yes but that doesn’t mean you know how to flip a house.
How are you going to find the deal? How are you going to structure that deal to make sure that you do it safely and quickly?
Does your system also help people in finding opportunities in their neighborhood in their vicinity?
We teach people how to find deals on their own backyard. How to find them in the areas they live in their own city because that’s where so many times that money is just sitting there for people to get. Their driving down the street and there is opportunity. We show you how to identify the good deals from the bad deals and most importantly how to make real money on the good deals.
You mentioned this is about improving the community as well as being able to make some extra cash. I know the Clark County Commissioner had this to say about you which really reinforces that point.
He said, this is of Armando, he is now chosen Clark County as a place to hold a seminar this will have a huge positive economic impact on our valley. Commissioner Bragger would like to present a proclamation to Mr. Montelongo recognize him for setting the standard and encouraging other independent entrepreneurs to bring their business to Clark County.
Commissioner Bragger awarded a proclamation to Armando Montelongo for being a recognized force in bringing new business to Clark County and in his honor named this day as Armando Montelongo day. Armando that’s good to make you feel pretty good.
You know when I hear that, the guy who lived in a garage on food stamps would have never believed that a Clark County Commissioner would say something like that about him. So it makes me think how many people out there who think that the can’t do it. But really could if they just had their hands on my system.
What’s some of the feedback that you get?
I have an individual by the name of Jeremy and he and his wife, together they netted over 75,000 on 3 deals. Husband and wife working together and now they’re closer than ever before.
That’s awesome it we know that these results may not be typical and these students attended your live events and then received additional paid training but they were able to do this using your system?
All using my system this is why seating is so limited at my live events. It’s because we’re number one because people know that if your going to learn real estate if you’re going to learn how to flip houses then you need to follow Armando’s system.
You really started this whole revolution and now you know there’s a lot of TV shows out there people that are kind of acting like you, dressing like you, kind of going through the same thing but I guess the real question is really truly possible to be able to do what they’re doing?
well if imitation is the greatest form of flattery then I’m definitely flattered because there are quite a few people out there who attempt to emulate our TV show. My biggest concern is that most of them don’t have a system.
I’m the man who created a system and the reason why i created this system because it all started with me absolutely no money, absolutely no credit, but I knew I had to educate myself and I put together this system and with this system i was able to go from $50,000 in debt to making a million dollars my first year and 3 million in three years.
This is not get rich quick, get rich methodically step by step. You can on a flip make very good money. I’ve had students make $30,000 on a property, students who made $40,000 a property.
If people are going to learn about how to do this then we have to go to my free event get a seat because it is limited to these live events. Follow what we do and that’s why I believe we’re number one.
Now retirement has kind of become this un attainable goal it seems like almost in the past number of years. This seems to be a way that you could have the flexibility that you were looking forward to in your retirement years.
Well, there’s a very simple mathematical reason why people are on the hamster wheel and stay on the hamster wheel. Because they put money into a 401k they give it to somebody else to manage it in the average 401k over the last several years has averaged 2.8 to 2.9%. not even staying ahead of inflation.
What if you take your retirement account and directed IRA invest $30,000 and $30,000 bills into your retirement account and now what you’ve been working 5 10 years to put away in your retirement account you make in one flip.
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