scam Slang n.
"A deception practiced in order to
secure unfair or unlawful gain. Any act, expression, omission, or concealment that deceives
another to his or her disadvantage"
That is an accurate definition of a scam. The question is: does it apply to Armando Montelongo? Here are a few facts, and how Montelongo stacks up against the top-rated real estate investing course by renowned investor Bill Vaughn.
Armando Montelongo is one of the current "kings" of the infomercial real estate gurus and seminars. Like most "gurus" Montelongo uses high-pressure sales gimmicks like infomercials and seminars to hawk his program. Bill Vaughn does not use such gimmicks - the success of his clients results in referrals. Success of the student, not the guru, is the ultimate proof that the course delivers the goods.
Of the 24 methods of real estate investing, Armando Montelongo teaches a couple - rehabbing and flipping foreclosures, which has very limited applications, and also requires availability of cash and good credit - two things that most people looking for financial security do not have. Having only one or two methods of investing is not a good plan - markets and economies change. A method that works well in one market type may be a complete bust when the market changes. Bill Vaughn teaches all 24 methods, in clear detail. No matter what the current economic conditions, you will have strategies that will make you money.
Armando Montelongo Seminars LLC previously had an "F" rating with the Better Business Bureau, but they have managed to boost that to a B+, and now to an A+. It is commendable they have put forth the effort to clean up their record, and have done so - at least to the satisfaction of the BBB. The BBB had previously posted an online SCAM ALERT in connection with real estate seminars and boot camps on general. NOTE: The Texas Attorney General felt the same way, and in 2011 forced Montelongo into an agreement to follow certain guidelines to insure keeping within the law and he appears to have complied.
In comparison, Bill Vaughn's company, IntelliBiz, has maintained an A+ Rating at the Better Business Bureau with zero complaints listed
COACHING - Like most real estate gurus, Armando Montelongo offers coaching. And also like most other "gurus", Armando's coaches do not appear to be actual, practicing investors which could account for the poor quality of the coaching that is the basis for many of the complaints online and at the BBB, causing many to call his seminars and bus tours the Armando Montelongo Scam. If Mr. Montelongo's coaches are, indeed, practicing, successful investors, we encourage him to inform us, and hopefully provide some evidence of such. In comparison, Bill Vaughn's "Simple Man's Guide to Real Estate" provides unlimited coaching by professional investors for free, to assure your success. Offered by a Christian non-profit to keep it affordable, all the coaches are investors who volunteer their service - all for under $150 complete ($49/month for 3 months). Compare that to the cost of Armando's Bus Tour ($40,000), or even his 3-day seminar ($1500).
So, what is the SUCCESS RATE for Armando Montelongo training? No statistics on successful students are available, as Armando Montelongo does not appear to be interested in tracking successes. When a reporter for Forbes asked Mr. Montelongo to provide successful seminar alumni, Montelongo came up with only two - and neither one had made a million dollars.
COST - The cost for Armando's "help" is determined by just how far (into debt) you want to follow him. It begins with a "free" Live Event seminar. But the only thing you will learn there is that you will usually need to pay up to $1500 for the 3-day extravaganza seminar that will put you on the road to wealth. All too late the attendee learns that, like the first seminar, the second is more about selling you on a $40,000+/- bus tour, and less on teaching you how to make money in real estate.
The overall cost for Montelongo's entire offering can well exceed $40,000. Think about that - if you have $40,000 to invest, you certainly do not need Armando Montelongo - you could just plunk it down on a fixer-upper, rehab it and sell for a profit. It's not rocket science.
By comparison, Bill Vaughn's "Simple Man's Guide to Real Estate" course costs under $150, complete, including coaching by actual investors, not scripted phone operators. You can save all that money you did not put into Armando's bank account and use it to invest in the best investment of all - yourself!
COMMENTS - Most people would expect Mr. Montelongo to be present at his seminars and bus tours, considering how much they are paying him. And most people would be wrong. Many who have attended Armando Montelongo seminars report that he often does not even show up at them, instead having high-pressure sales persons handle the seminars, since they are sales pros adept at separating people from their money. That does make sense, of course, but his advertising should make it clear that he will not be there in person unless he is actually going to put in an appearance.
As to the many complaints, all we can say is when the number of unsatisfied customers is substantial as is the case with Armando Montelongo Seminars, then you have to realize that the fruit of the tree may not be edible.
So, the question once more is whether or not Armando Montelongo is a scammer. You can decide that for yourself, but the way we figure it, even if Armando Montelongo were to fulfill his promises of financial security, it still would not be worth $40,000. In comparison, "The Simple Man's Guide to Real Estate" has a high success rate and includes free coaching by actual investors and costs less than $100 complete. You owe it to yourself to check it out. Because, frankly, there is no comparison...
IntelliBiz, publisher of this site is not affiliated with ,
Armando Montelongo,
Carleton Sheets,
Ron Legrand,
Russ Whitney,
John Beck,
John Alexander,
Than Merrill,
Larry Goins,
Robert Allen,
Robert Kiyosaki,
Peter Conti,
Dave Lindahl or
Robert Shemin