In August of 2001, Armando Montelongo arrived in his childhood hometown of San Antonio on his last tank of gas. He had his wife and son to support, $50,000 in debt and a credit score of 501.
He managed to negotiate two months’ rent on an apartment, but the couple had to sell some of their furniture to buy food. Soon afterward, a sluggish South Texas economy was slowed even more by the 9/11 attacks.
Desperate for a solution, Armando discovered a business where a person armed with the right knowledge didn’t need credit, money or experience to succeed: real estate investing.
So he began the business of flipping – buying houses for low prices, repairing them for families and then selling them for a profit. He started out without any knowledge of the field, and he quickly realized he needed mentors. He sought them out, took action on their advice, and began to see success.
He quickly discovered that the only way for him to prosper was to discover and help solve other people’s problems: to listen, come up with a solution and make a deal work.
In 2006, Armando heard about the A&E cable network looking for real estate investors for a show called “Flip This House” and submitted an application. The producers loved his on-camera style, and the San Antonio edition of the program quickly became the most popular of the lot.
And though being part of a television show was one of his lifelong dreams, Armando never let it distract him from the business of flipping houses. At the height of the show, he was doing close to 300 deals a year.
During the family’s darkest times, Armando’s wife, Veronica, made him promise that if he ever was successful, he would share the secrets of that success with the public.
Today, in addition to the steady business of real estate investing, Armando has launched a series of educational programs and workshops across the country. He also has written two books and compiled his knowledge of the house flipping business into a series of how-to-guides, complete with audio CDs.
He summed up his philosophy at the conclusion of his book “Flip and Grow Rich 2011:”
“My dream is to serve. It is to serve my students – people like you – so you can accomplish what you want for your family, make a lot of money, make a difference in life and have your childhood dreams come true.”
Armando continues his own education experience investing in real estate, and running a group of multi-million dollar companies. He continuously brings his experience and lessons learned back from the field to share with his students so they can face and overcome the challenges of today’s marketplace. He loves showing others how to turn what most see as “roadblocks” into opportunities.