Contact Welcome to the Eventual Millionaire Podcast. Armando has been the start of the number one hit real estate reality show called Flip this House and he is the author of a great book called Flip and Grow Rich. Thank you so much for being here, Armando. How are you? And I just finished your book. It was an excellent read.
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Contact Welcome to the Eventual Millionaire Podcast. Armando has been the start of the number one hit real estate reality show called Flip this House and he is the author of a great book called Flip and Grow Rich.
Thank you so much for being here, Armando. How are you? And I just finished your book. It was an excellent read. The one question that I had for you in reading the book is you were already so successful, what made you write the book? AM: Well, I think that when I was really, really broke and living in the garage and on food stamps, one of the interesting things was, my mentor told me that to get into real estate and at that time it was before the internet was as hot and easy to use it as now, he had me move from California over to Texas and I remember going through Phoenix and I went and was walking behind a pick up truck there in Phoenix and the pick up truck was a Ryder truck that we had our furniture in about in the morning and my wife and I were having a conversation and I made a promise that if I ever learned the secrets of becoming wealthy that I would share them with the world because I had gone through so much frustration being so poor and then when the TV show Flip this House came out, I literally had tens of thousands of emails going Armando, I feel what you felt.
So that really inspired me to go out there and write the book and keep that promise of helping individuals out. That was great. How did you have that successful mindset even when you were broke? AM: Well, I think what it was, you know, I appreciate the compliment of a successful mindset. I think it was a frustrated mindset meaning I was willing to do whatever it took as long as it was legal and moral and ethical to be able to go out there and make it.
I was so frustrated and so scared that it was almost like saying a prayer. AM: You know I think that we get issues out of fear. To say that I did not have fear would be an inaccuracy.
To say that I have doubt would be a lie, right. I had total fear. I had total disappointment in my life prior to that and I had feelings of anxiousness and really the question can I really do this? Can this really happen? Is this pie in the sky? But by looking into my mentors and tell them exactly what they told me I would go do it helped me to almost immediately come over the fear.
I did have doubt but I listened to what they said. They kind of gave me a step by step plan on what to go do which made making money and getting myself out of a bad situation and becoming wealthy much easier where most people are just kind of running around with chickens with their head cut off with no direction whatsoever.
JT: So when you were in that bleak time, did you know that you would eventually become a millionaire? I know I have what it will take and I know deep down I have what it takes. What I found with so many of my students, people I teach now, they have that deep belief like I know I can do it if I just had the right mentor, opportunity and system to be able to go do this.
And so I had that deep, deep belief way down but I just felt different and I could do it and what I found is so many of my students who come out there and want to be successful they go man Armando had a deep seeded I know I can do it if I just know what to do. We actually have a systemized plan for it then they can go out there and follow really a roadmap to success.
The next thing is I think people get really scared. We are also taught other people are greedy. So I think that where the challenge is most people simply let their fears take over rather than their gut instinct and this is the biggest distinction. There is a giant distinction between gut and instinct and what most people think is reasoning which is really nothing more than fear.
So I tell people so number one you have a master passion. JT: So how does taking immediate action, I actually ended up watching a video on you that said all millionaires take action now and it was a great little clip of you doing that.
So if somebody is angry they have one ray of light around the body. Well what happens is when we have massive passion, it actually has been documented that we have a certain ray of light around our body that is a protective layer.
When we have a massive passion. How do you get past that and not let it stop you? Is it just action? I mean is that the only thing that we need to do in order to move forward? AM: Well, action going in the wrong direction is certain failure, right? So you really need a step-by-step methodical process in order to be able to go out there and do it. So what I did is I listened to my mentors.
I have four multi-millionaire mentors. I listen to what each of them said to be able to go out there and make money. Now the great thing about these mentors is they are very, very humble men. Knowledge is not power. Properly applied knowledge is power. Were you broke at the time when you got these mentors? AM: I was extremely broke and I sought them out. I needed to make money now just like most people.
You need to make money right now. So what I did is I kind of put their information. I stacked one on top of another on top of another on top of another and then I put together what worked. JT: Oh so you right now act as a mentor for other people and do coaching and stuff like that too.
And the interesting thing is I told everybody, I will make you on e promise that at the end of three days you will know how to flip a house the way that I flip a house. So we have various mentorship programs. Not everybody can or has the ability to travel to California so we also have phone mentorship programs.
So we want people who really want to go out there and do something with the knowledge and information that we give them. So what made you decide to do a qualification? Do you only accept people that are really willing or that you feel are dedicated enough or how does that work? AM: Yeah, we want people who are going to be willing, people who are going to take action. Yes but you can act like a millionaire. Now what do you say to all those people that went into real estate.
I mean I know some personally, they went into real estate and lost their shirt either trying to flip a house or just trying to hold it for an investment. So what do you say to those people that have tried it and lost. AM: You know, a lot of those people are what I call accidental investors. What we teach in our programs today in is different than what we taught in , or Now is it completely different?
But do we make tweaks every year for the marketplace and so the people know how to do it in their backyard no matter whether they live in Florida or Michigan or New York or Chicago or the Bay area or Southern California? JT: Excellent. Now we show our students how they can go do this with no money out of their pockets whatsoever. But the property was remodeled in and all the other properties look like they were built in So you have the best looking house in the neighborhood.
You have the least expensive house for sale in the marketplace, whose house are people going to buy? Not having any money out of their pocket. What do you say to people getting into debt? But car is bad debt. Good debt or bad debt? We said how about a credit card and people will go bad debt. Not necessarily. Then we say spouse. We kind of joke with them. That depends on your spouse, right? And what happens is this. America is bad debt driven. That also sounds too good to be true. If you go to a deal with no money out of pocket the rate of return on your money is infinite.
Then we show students who are out there, we have a lot of people out there who have k who now those have turned into like k right?
Is it six months? A year? That sort of thing. So how did you do it so fast? Houses in Texas are cheap. So a lot of houses in a lot of areas in America are sitting there for maximum days on market, maybe 60, maybe 90 and worst case scenarios much more than 90 days. High income houses are actually moving right now but low income houses are not and middle income houses are moving because those people with high incomes who are coming down in income.
If people stop buying houses in America, the entire American economy would collapse and the entire world economy would collapse. So people go and say well what about my retirement account?
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Armando Montelongo Seminars
Nezil I went to a three-hour deal once and I went to a weekend thing once. All I can say is if are in a position to take advantage of this program do not pass it up; as they are rare to come across. Archived from the original on July 29, He gives money to charities while he rob 78 years afmando women myself who are on social security. English Choose a language for shopping. Not sure how to choose? Before we went out on the first day, they taught us prices for each of the different basic items.