Saturday, June 25, 2011

Armando Montelongo - A True Rags to Riches Story

If you have watched episodes of the famous TV reality show "Flip This House", you should be familiar with its maverick host Armando Montelongo. Dubbed the "flipping machine", he is your classic example of a self-made man who has gone from rags to riches and inspired many. Through hard work, shrewd business acumen and a positive approach to life, Armando Montelongo has hit it big in the real estate arena. In just over five years, he has turned his small family business into a major real estate firm, Montelongo House Buyers, which on average flips 25 houses every month.

Armando Montelongo's story is definitely one for the movies. In 2001, unemployed and heavy with debt but not discouraged, he decided to go back to his hometown of San Antonio, Texas. Back then, he and his wife Veronica and their baby boy were staying in his in-law's garage in Southern California. They had no choice because their house was foreclosed. He didn't work to take care of his wife and their baby who were then suffering from major health problems. Savings were completely depleted to pay off huge medical bills. Faced with such a dilemma, Armando Montelongo did not lose hope. Instead, he decided to start life anew with his small family in his native San Antonio.

With just $1000 in his pocket courtesy of his in-laws, Armando and his family set out to San Antonio. Lucky enough, he was able to negotiate for two months free rent. They literally struggled to make both ends meet even to the point of selling their furniture to buy food. During those times, he observed that there is money in the real estate business. He discovered that buying a rundown house, renovating it a little and then selling it at a higher price makes savvy business sense. This has come to be known as house flipping. And the rest is history.

With the overnight success of his flipping business comes the offer to host his own TV show about flipping - Flip This House. Together with his wife, his brother David and sister-in-law Melina, they feature various projects that are flipped, their transformations, the many challenges that are involved and other important aspects of flipping houses.

The show has become a very good training ground for those interested in flipping. It has attracted millions of televiewers making the reality show a top-rater. In the process, flipping has catapulted San Antonio, Texas as one of the fastest growing real estate markets in the United States and Armando Montelongo a famous celebrity. He has been featured in radio talk shows and in national publications.

To reach online viewers, Armando Montelongo created and hosts a website where he teaches and shares the many strategies and techniques of house flipping. He has even developed educational CDs as part of his desire to share his vast knowledge to those interested in flipping. His book "Flip and Grow Rich" further proves there is money in flipping.

As he always tells people, back then he had no mentor to guide him through the ins and outs of the real estate business. But the beauty of it is he discovered flipping and learn to make a fortune out of it.

Today, Armando Montelongo's real estate firm flips about 200 houses a year - a far cry from when he moved back to San Antonio in August of 2001 with $50,000 in debt.


Source: ezinearticles.com

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