Armando Montelongo is a philanthropist, educator, and real estate investor from the United States. Armando is well-known for his appearance on A&E’s reality show Flip This House. Montelongo Companies was founded by Armando Montelongo.
Early Life
Armando grew up in San Antonio, where his father had a construction company, according to his tale. However, when he was 16 years old, the firm suffered a setback due to the U.S. real estate collapse.
Armando Montelongo Net Worth
Armando Montelongo is a $50 million-plus real estate mogul and TV personality from the United States. Armando Montelongo is the creator of Armando Montelongo Companies, a real estate investment seminar company based in San Antonio, Texas.
It was named one of the fastest-growing firms in the country and the top education company in the United States in 2011.
He was regarded as one of the top three Hispanic business owners in the United States. His free seminars are held all around the world in order to promote the company’s three-day course and personal lessons with Montelongo.
In 2011, the Texas attorney general launched an investigation into the company, which was subsequently settled without Montelongo admitting any wrongdoing. Montelongo is most known for his role in the A&E reality show “Flip This House,” which follows the acquisition, rehab, and selling of a home. After three seasons on the show, he decided to start his own production firm.
In 2013, Armando Montelongo Productions shot and published “Line of Duty,” starring Jeremy Ray Valdez and Will Rothhaar. “Flip and Grow Rich,” his first book, is about both his professional and personal life lessons. Armando is the author of several publications and currently offers real estate investment workshops throughout the United States.
Every year, 300,000 people are said to attend these workshops. Armando Montelongo claims that his own net worth has surpassed $200 million as a result of these lectures.
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Armando Montelongo’s Professional Career
Armando has only offered his life narrative 15 years later, in which he stated that he was having a difficult time due to his home being foreclosed, him and his family having to rely on food stamps, and them living in his in-laws’ garage.
Armando had no choice but to work. He saw one day that housing values in Texas were quite low, so he decided to start buying distressed homes. To begin started, he borrowed $1000 from his father and continued to acquire and sell houses.
Armando claims that after doing this and completing the technique he followed, he became a multi-millionaire in just three years. Since he was in the same field as his team colleagues, Armando joined the show Flip This House.
The reality show was a huge hit, and Armando appeared on it for three seasons, greatly boosting his credibility as a real estate agent. Following the completion of this project, Armando decided to launch his own film production company in 2011, with one of their key productions being the film Line of Duty.
The film had a budget of $2.5 million and was released in 2013. Armando, on the other hand, has been concentrating his efforts on his second company, Armando Montelongo Seminars, which he founded in 2008. Because of the success of this business, he was named the No. 2 Hispanic business owner on the Inc. 500 list.
Armando’s real estate seminar business includes a 90-minute free lecture start, which is intended to attract potential clients to his seminars.
Then there’s the $1500 three-day workshop. An in-person training extravaganza that can cost up to $40,000 is a greater upsell from here.
There have been several complaints about this business, which led to an investigation by the Texas attorney general. Armando, on the other hand, pledged to operate within the law and to ensure that the seminars’ marketing was not deceptive and did not fall short of the students’ expectations.
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Armando Montelongo Son
Armando had $50,000 in debt, had a 501 credit score, and was living in his in-laws’ garage with his wife and infant kid in 2001. He turned his life around by learning to flip properties, which entails purchasing them on the cheap, repairing them, and reselling them for a profit.
Armando Montelongo Divorce
Armando and his wife Veronica filed for divorce in 2011. It was unclear who filed for the divorce between the two, but most believe it was Armando.
Armando, who had split up with his brother David Montelongo and his wife, who were both co-stars on the show, following a contentious investment choice, was having troubles with some of the residences he had flipped prior to filing for divorce.
His treatment of Veronica deteriorated, and his dealings with contractors became difficult. The pair just drifted apart as a result of their ideological differences. Their divorce was formalized in 2012, according to a San Antonio court. The specifics of their split are still unknown on the internet.
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