Coaching your way on to a happy retirement!

I bought a property two months ago for $5K. I didn’t sink a dime into the property, and I just wholesaled it to another investor for $17K. That’s some pretty good money!

Through the Armando Flip and Grow Rich Program I have set my goals higher. I have recently been talking with an agent about a 6.6 acre property big enough to build ten homes that will each sell around $259K to $279K.

I have found people I can talk with on the resource line and they understand what I’m doing. They listen to me and give me feedback. I am 61 years old, and I know that one day I will be on my knees, unable to get up, so I need something substantial to support me when those hard times come. I don’t want to be a landlord any longer—I need to make money for later on when I’m really retired. I am pretty happy with the whole coaching thing. I have established a corporation to hold my properties, and it all makes sense. When you purchase a piece of property, you have something of value. You WILL make money! The back end will come around, and you will just need to work out whatever problems come up. I really enjoy interacting with all the coaches! This is exciting work! I will keep everyone posted on all new projects!

-James in PA

Going for It!

This month, I purchased an auction property for $105K, and I believe I can sell it quick and make $40K! The only thing I have done with the property is put in a $50.00 sump pump. I am selling it to a young couple who are totally excited to have their own home. I put an ad on craigslist on a Saturday and they responded the next Tuesday. It only took three days to find a buyer! It is scheduled to close next week on Monday, April 20, 2009.

Since FHA requires a 90-day seasoning rule, we are setting up a conventional loan. We will be doing a simultaneous close at the title company which will make the closing costs minimal, and it will only need to be recorded once. Tim Bell and the other coaches helped me understand that concept.

Before I enrolled in the Armando Flip and Grow Rich Training Program, I put a contract for deed on a HUD property. I found the crappiest house I could find. The idea behind it was to learn. It was an educational project. I thought, “If I can fix this one up, I’ll be able to fix anything up!”

Now that I have all the resources in the program, it’s making my life a lot easier, and I’m more confident. How much easier my life would have been if I could have found this training years ago! I think it’s going to wind up helping me a lot. I’m excited about everything, and I’m going after it!

-Glenn in IL

So much Cash Flow!

started out trying to flip a property, but because of the market, I decided to buy a property and hold it for a while. There’s a lot of competition with other investors, so I’ve experienced a lot of hit and misses. I discovered a great area to work in, and purchased a property for $135K. It has a lot of room to appreciate fast over the years! I ended up putting between $5K to $6K into it before I could place a renter into the property, but I am cash flowing $200/month from an Orange County property. Just two years ago, this same property would have sold for $350 to $400K. I have decided that this property might be a good one to hold because of the stable rents. Once it’s paid off, I will have straight cash flow. If I can get a couple more of these great properties, I will have some real cash flow. It took a lot of work to get this property, as other investors have realized how great this area is and are starting to eat them up like candy. I had to figure out what they were doing, and adjust my techniques. These strategies work!

Before getting into the Armando Flip and Grow Rich Program, I didn’t know anything on the investor side—how to flip, work with foreclosures and short sales. Learning these strategies has been really helpful.

I relied on the Resourceline a lot through the program. Kristiin was very helpful. I felt comfortable talking with her because she was never intimidating. I leveraged my home to purchase the property, which was something that I didn’t want to do, but once I did it, it wasn’t so bad. The next property will definitely be a lot easier. I’ve found a good agent to work with who is willing to put in low ball offers for me, and make me not feel like I am wasting her time. I would encourage others to find a good agent to work with, as it’s a key factor to success.

SHORT VERSION:
I found a great area to work with in Orange County. I purchased a property for $135K and, put $6K into it. Two years ago, this same property would have sold for $400K. Because I got it for such a great price, I am renting it out—getting $200/month cash flow, so will probably hold onto it as a rental, and get several others just for the extra revenue. Once they are paid off—it’s straight cash flow! The strategies I have learned through the Armando Flip and Grow Rich Program work! The Resource Line has been very helpful, and I would encourage others to get involved as well, and find a good real estate agent to work with, as it’s one of the key factors for success!

-Doug in CA

Success Strikes Again!

The Armando Flip and Grow Rich Program put me on the path to success! I attended classes starting with the basic program to the more advanced classes, and spoke with several coaches on the Resource Line. I decided to get more involved with other investors in my local area, and have found a great team to work with in Georgia. I have purchased several properties in the $70K range, and they all had renters already in place. I am cash flowing about $800/month on each property. Every property has been very profitable! I figure that I am making around $4K/month. I am currently forming a corporation, and applying for business credit to be able to start purchasing commercial properties. Networking is everything in this business. I have set up a website to be able to send auto responders to my network of people. My goal is to have ten properties that will bring in $2K/month cash flow. That situation will free my time to get involved with bigger projects. I am making great money through real estate investing!

-Andrew in GA

Congrats to our classmate!!!

I purchased a property a few months ago for $50K, put 13K into it for repairs and fix-up. I went over budget $8K, but it’s now on the MLS market, and people are checking it out. If I can sell it for $90K - $95K, I will make a decent profit. Comparables are coming in at that price, so my hopes are high!

-Anthony in OK

Listen to our Classmate's Great Success!!

I located an REO property through my real estate agent, and purchased it on a short sale for $92K. I put $40K into it for rehab and fix-up, and it’s currently on the market for $174K. There is someone interested in purchasing the property, and he asked if I would lower the price. Even if it sells for $170K, I will profit $125K - $130K.

I learned a lot during the classes through questions that the other students asked. It was very helpful hearing the pros and cons of their situations. I enjoyed my class and the people who attended with me. It all ended too quickly! As soon as the property closes, I will be looking for my next deal!

-Jim & Susan in DE

Friends in Texas and their growing success!

I bought the Armando Flip and Grow Rich Training Program through my credit card in March 2009. I purchased my first deal from a wholesaler for $67K, put $13K into it for fix-up and repairs, held it for five months, so I had holding costs of $5K to my hard money lender. He did a double close, and I was able to get the rehab done in five weeks. I got two contracts on the house on the first weekend it went up for sale, ended up with an FHA loan with a required 90 day seasoning rule. I was hoping to make $15K, but with the extra holding costs, it brought my profit down to $11K. I have done real estate investing in the past, but held onto the depreciating properties for too long, which cost me thousands of dollars. That was before I got involved with the coaching program. I wish I had gotten involved much sooner to learn what I have learned. I am very happy with the program, and will provide more success stories along the way. I would certainly recommend to the program to others. It’s definitely a great tool to use with dealing with the present economy!

-Greg in FL.

I just closed on my first property for $39K since getting enrolled in the Armando Flip and Grow Rich Training Program. I will need to put $35K into it. It was damaged by a hurricane, and needs a lot of repair work. It should sell for $110K, so my expected profit is $25K. I have a contractor working on it, but he still needs to get permits. I have already had the foundation leveled for $2500. I found this property by calling on a hard money ad to build my resources, and he turned out to be a real estate agent. ISB Capitol was my hard money lender, and I was able to get it at 13% interest. I estimate the completion of the rehab in two months—by December 30^th, and then my goal is to start working on two deals at a time.

-Michael in Texas

I bought a foreclosure several months ago, finished the rehab, and have potential buyers working to get their loan approved. I found this foreclosure property through a real estate agent. I funded the property with a hard money lender for $56K, put $12K into the actual rehab, plus other lending fees. The comparables are coming in between $94K and $100K. So, my profit should be around $24K.

I have recently put in another bid on a property for $200K, which is worth $475K, and it only needs $5K in fix-up costs. I am presently in contact with my hard money lender working out the details.

I also have a friend who wants to partner with me to rehab twelve properties a year for rental purposes. He will fund the properties, and I will do the work. I am currently working out a business contract with him.

The Armando Flip and Grow Rich Coaching Program helped me learn a lot through the classes. It was great being able to call the coaches and get my questions answered and fill in the gaps. I have appreciated all the help I have received along the way!

-Bobby in Texas

Look how much fun we have with our teacher Armando and his wife Veronica!

I enrolled in the Armando Flip and Grow Rich Training Program in late summer of 2008, and finally started applying the principles the first part of 2009. I found an REO property through a real estate agent as a wholesale deal for $45K and closed the deal the end of June 2009. I spent $20K for fix-up costs. I listed the property with a broker to do the closing, and sold it for $89K. My profit was $24K minus commissions and fees.

I also purchased a second property around the same time for $66K, and I have spent $35K on fix-up costs. I finished the work a few weeks ago, and I have an offer on it for $142.500. My profit should be around $40K on this deal.

Armando Coaching helped me the most with evaluating homes and helping me feel confident to put offers on properties. Now, it’s easy to make multiple offers on REO’s, and I’m starting to put in more offers already for my next deal. Kristiin Sabey and Larry McKinstry have been very helpful through my experience in the program, and I’m excited to see how much more abundant my life will be in 2010!

-Ferdinand in MI

In late August, I closed on my first property, and less than a week later, I purchased my second property. I found my first property through a real estate broker who handles REO’s. I purchased the home for $54K. As I was going through the process of closing on this property, I discovered a great buy through an advertisement posted on the side of the road. That property needed an immediate close because it was a wholesale deal. I was able to purchase it for $64K. Since I didn’t have the ability to work on both houses at once, I chose to work on the second house first. I ended up spending $20K on repairs, had it on market for one month, and closed on a cash sale 110 days later for $146K. I cleared $45K profit!

I am in the process of rehabbing the first property. I’m half way through the process at this point, and hope to be finished by the first of March.

I enjoyed being involved with the Armando Flip and Grow Rich Program, but the top benefit was Tim Bell’s coaching. I talked with him on the resource line multiple times each week. When I started getting focused on these properties, Tim helped me tremendously. I would definitely recommend the training program to others.

-Chris in Florida

Before I enrolled in the Armando Flip and Grow Rich Training Program, I was working with properties, but I was never involved with the deal making—had very little experience with that side of things. However, last year I made the decision to move forward and really push myself—I made that commitment! I read all the books, listened to the CD’s and jump started my program. The training program has kept me on pace and exposed me to more strategies. I looked forward to the weekly classes to get motivated and my questions answered.

I paid $85K for an REO property. The property had serious title issues and having my attorney working for me helped immensely. Having my team in place was critical! I ended up putting $65K in full rehab costs for a total cost of $150K. It sold for $236, and my profit was $70K.

I closed on another property in February 2009 for $130K, and rehabbed it for $22K. This property was pre-sold as a lease/option for $210. So, in 18 months, I will have a locked in profit of $55K when my tenant/buyer exercises his option. I have established a unique niche—customization! Right at the point of plastering, I drive traffic through my property, get people interested and offer customization. It creates a call to action, with some urgency—“call now to pick your colors”!.

I try to stay away from hard money; however I have worked with partners. I work mostly with traditional lenders and have learned to build a rapport and negotiate fair prices with the banks. I have a contractor’s license, which has helped build a good relationship with bankers, as they feel confident with my credentials.

I just finished another rehab property with a partner I met at my local REI club. My partner actually purchased the property for $110, and then decided that he didn’t want to work on it himself, so I took it over, with a contract in place to split the revenues 75% - 25% (myself receiving the bigger percentage). We put $70K into it for a total cost of $180, and it’s currently on the market for $269K. Other people are starting to call me now with their situations wanting to partner.

I bought a different property for $185K with another partner at the end of 2009 on the West Port River, but structured it 70% - 30%. We have put $50K into it, and we expect to sell it for $375K to $425K. There is room for really good profit on this deal. We are meeting with a real estate agent next week to find more properties. So far, things are going really well. I am putting together a comprehensive business plan with the banks in my area for 2010. My goal is to complete six properties this year. I also want to diversify with several rental properties for some consistent cash flow. I’ll be 100% vested in the real estate business by the end of 2010, and plan to pass along my current flooring business to family members.

One of the biggest things directly connected to my success was signing up for the coaching program. Once I made the investment, it pushed me forward to start putting the principles into practice. I needed to take that calculated risk and get involved. I received the best advice during my orientation session—join your local REI club. What a great resource! The clubs offer education and networking opportunities to find partners and build your power team. I would highly recommend the Armando Coaching program to others. The program made a real difference in my life. The Resourceline was invaluable with getting all my questions answered! Thanks to the coaching staff and Armando Montelongo, I am well on my way to become financially independent!

SHORT VERSION:

Before enrolling in the Armando Montelongo Flip and Grow Rich Program, I was working with properties, but had not figured out how to put all the pieces together. Through the weekly classes and the Resourceline, I purchased an REO property using traditional financing for $85K, put $65K into it for a full rehab bringing the total cost to $150K. Sold it for $236K—making a profit of over $70K on my first deal!

With my second property, I found the buyer first, and then found a property to fit his needs. I set it up as a lease/option transaction. I purchased the property for $130K. I spent $22K for fix-up and repairs, and I have a locked in contract to sell it in 18 months for $210K, which will bring in a total profit of $55K!

I just finished another rehab property with a partner I met at my local REI club. My partner actually purchased the property for $110, and then decided that he didn’t want to work on it himself, so I took it over, with a contract in place to split the revenues 75% - 25% (myself receiving the bigger percentage). We put $70K into it for a total cost of $180, and it’s currently on the market for $269K. Other people are starting to call me now with their situations wanting to partner.

I bought a different property for $185K with another partner at the end of 2009 on the West Port River, but structured it 70% - 30%. We have put $50K into it, and we expect to sell it for $375K to $425K. There is room for really good profit on this deal. We are meeting with a real estate agent next week to find more properties. So far, things are going really well. I am putting together a comprehensive business plan with the banks in my area for 2010. My goal is to complete six properties this year. I also want to diversify with several rental properties for some consistent cash flow. I’ll be 100% vested in the real estate business by the end of 2010, and plan to pass along my current flooring business to family members.

One of the biggest things directly connected to my success was signing up for the coaching program. Once I made the investment, it pushed me forward to start putting the principles into practice. I needed to take that calculated risk and get involved. I would highly recommend the Armando Coaching program to others. The program made a real difference in my life. The Resourceline was invaluable with getting all my questions answered! I am now very involved with my local REI club working with partners and building my power team. Thanks to the coaching staff and Armando Montelongo, I am well on my way to become financially independent!

-Michael in MA

Before enrolling in the Armando Flip and Grow Rich Program, I purchased the home I currently live in through a sheriff’s sale in 2006 for $50K. It’s a trailer on a permanent foundation that sits on 10 acres of land. I was able to take $180K out on a refinance, which I have used for all cash offers on other investment properties.

I have purchased some empty lots in the past as well—one that has 10 acres that are not sub-dividable.

I spotted the second property (trailer on foundation) in the paper that was also being sold at the sheriff’s sale, which I purchased for $60K. It appraised last fall for $208K, which I have borrowed against as well. I expect to spend around $13K on repairs, and I’m hoping to sell it for $220K. There is definitely room for good profit on this property.

I also purchased a third property (single wide trailer without a foundation) for only $25K, and I plan to fix it up for $10K, and then I’ll have a $35K rental property (1400 sq. feet) on one acre of land that will cash flow nicely.

I feel the Armando training program has helped me streamline the process of acquiring properties and fixing them up. My next step is to find a partner to work with for funding the properties, and I will do the necessary work. This is a great program. Everyone should get involved with real estate investing!

-Cliff from NV

We found our first REO property through our real estate agent. We purchased the property for $29K, and the repairs were $11K. It took approximately six weeks to do the work—new roof, paint and carpet. It sold for $68K, and our profit after the closing and holding costs was $18K.

Most valuable thing we got out of Armando’s Flip and Grow Rich Training Program as motivation. We would not have been motivated enough to buy our first property without the encouragement we received from the coaches and the accountability after each class. We are grateful to have been a part of this great training program.

-Laura from IN

Someone contacted me off an ad I circulated—“I buy houses”, and I ended up buying my first property for only $6K! I checked it out with my real estate agent, and he suggested making an offer for $6K and sell it for $7K. However, I’ve decided to rent it out for $400/month, and provide some cash flow. It only needs some cosmetic work—paint and flooring, and I plan to do the work myself.

I have a Fannie Mae property that should close by the end of the month for $31K with an ARV of $60K which I found on www.homepath.com. I’m partnering with my brother who is putting up the funds on this deal. We plan to spend a maximum of $10K, and split the profits.

The Armando Flip and Grow Rich Program has launched me into a new career!

-Frank from LA

My real estate agent brought an REO property to my attention that I ended up purchasing for $31K. I have spent $20K for repairs, and it will be up on the market next week—March 12, 2010. I closed on this property January 8, 2010, so has taken about nine weeks to get it back on the market. The property appraised for $79K, and I will market it for $75K, which will bring me a profit of $20K to $25K.

I am currently looking for other properties, and need to call my real estate agent to speed the process. Now that I have my contractor and other team members in place, the next property will get completed a lot faster, and I’ll be able to start getting properties in my pipeline, plus cash flow!

The Armando Flip and Grow Rich program was instrumental with my success. I appreciated the classroom environment because I learned a great deal not only from my coach, but also from the other participants in the class as well. Having all the great material, and the Resource line also helped me, especially while I was purchasing the property. I’m glad I enrolled in this program, and others need to enroll as well to learn all the fine techniques with flipping properties!

-Brian from Ohio

What fellow students had to say after the March 2010 Armando Montelongo VIP Bus Tour

Enjoy!

Time To Get On The Bus!!!!!

Finally! An Armando Montelongo student's blog - for students by students. We are going to be updating students testimonials and adding new videos as they come so you can get a first look at personal stories that you've wanted to know but didn't think you had access to. Enjoy!