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.
Armando grew up in San Antonio, where his father had a construction business, according to his account. However, when he was 16, the business suffered a setback due to the US real estate crash.
Armando Montelongo net worth
Armando Montelongo is a $50 million American real estate magnate and television personality. 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 companies in the country and the top education company in the United States in 2011.
He was considered one of the top three Hispanic business owners in the United States. Its free seminars are held around the world 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 later settled without Montelongo admitting any wrongdoing. Montelongo is best known for his role on the A&E reality show “Flip This House,” which follows the acquisition, rehabilitation and sale of a home. After three seasons on the show, he decided to start his own production company.
In 2013, Armando Montelongo Productions shot and released “Line of Duty”, starring Jeremy Ray Valdez and Will Rothhaar. “Flip and Grow Rich”, his first book, deals with both his professional and personal life lessons. Armando has authored several publications and currently offers real estate investing workshops across the United States.
Each year, 300,000 people would attend these workshops. Armando Montelongo claims his own net worth exceeded $200 million as a result of these talks.
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Professional career of Armando Montelongo
Armando did not offer his life story until 15 years later, in which he said he was going through a difficult time due to his home being foreclosed, he and his family having to rely on food stamps and living in the garage of his in-laws. .
Armando had no choice but to work. He saw one day that home values in Texas were quite low, so he decided to start buying distressed homes. To start, he borrowed $1,000 from his father and continued to buy 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 colleagues on the team, 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 start his own film production company in 2011, 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, meanwhile, focused his efforts on his second venture, Armando Montelongo Seminars, which he founded in 2008. Due to the success of this business, he was named the #2 Hispanic Business Owner on the Inc. 500 list.
Armando’s real estate seminar business includes a free 90-minute conference start, intended to attract potential clients to his seminars.
Then there’s the $1,500 three-day workshop. An in-person training extravaganza that can cost up to $40,000 is a bigger upsell from here.
There have been several complaints about this company, which led to an investigation by the Texas Attorney General. Armando, on the other hand, is committed to following the law and ensuring that seminar marketing is not misleading and does not fall short of student expectations.
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Son of Armando Montelongo
Armando was $50,000 in debt, had a 501 credit score, and was living in his in-laws’ garage with his wife and baby in 2001. He turned his life around by learning how to flip properties, which involves to buy them cheap, repair them and resell them at a profit.
Armando Montelongo divorce
Armando and his wife Veronica filed for divorce in 2011. It was unclear who filed for divorce between the two, but most believe it was Armando.
Armando, who had split from his brother David Montelongo and his wife, who were both co-stars on the show, following a controversial investment choice, was having issues with some of the residencies he he had reversed before filing for divorce.
His treatment of Veronica deteriorated and his dealings with the contractors became difficult. The couple just broke up due to their ideological differences. Their divorce was formalized in 2012, according to a court in San Antonio. The details of their separation are still unknown on the Internet.
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