Contact 2: House Flipping

Real estate investing is a complex process, especially with the economy the way it is.   But one man says if you do it right you’ll reach millionaire status.    A local woman thought that message was right for her….but then changed her mind.

Emma Whitmore hoped a free seminar would help her become a successful real estate investor.   She says  during that seminar she heard about techniques used by Armando Montelongo of San Antonio Texas.  He was once featured in the  A E cable show “Flip this House.”  

“Armando’s people were telling us about real estate and how to invest and get a house from the bank and not pay anything at all out of pocket and make renovations and then sell it and make  50 to 70  thousand dollars”

By the end of the session Emma agreed to purchase additional dvd’s and booklets.  She paid for it with a credit card and it came to about seventeen hundred dollars.  First chance she got she contacted her husband who’s stationed over seas.  
“He had mentioned it sounded way too good to be true and said you need to look it up. “   

She did.  The Better Business Bureau in Texas handled several complaints.  Some consumers say they felt misled according to Erin Dufner of the Austin BBB.  

“The consumers are alleging that they are attending  what they consider to be a free seminar that’s hosted by the company Armando Montelongo Worldwide.  And consumers complain to BBB that during the seminar consumers are encouraged to purchase additional real estate products.   Some have had difficulty getting refunds.”  

Emma saw some of those complaints and immediately wrote a letter to get her money back. “Once you pay for it you have three days, to send in a letter that is signed that says I want my money back.  We did that and sent it through priority mail so its signed.  And so far its had been signed and we haven’t heard anything.  ”  

Emma says many people attending the introductory session seemed to be hoping for a miracle.

“In today’s economy everybody is struggling or most people are struggling.  A lot of people there looked like they didn’t have a lot and they were putting everything on this.”

Emma just learned that her credit card will reverse the charges and her money is safe. “I thought I could cancel it before it went through.  Because I didn’t want them to get the money at all.  But you could only let it go through and dispute it.”

Before you pay anything for a seminar that promises fast cash from real estate, do your homework. Research the company by checking with  the Better Business Bureau, the Attorney General’s Office or the internet. 

If you get caught up in the moment and decide you want to buy the information pay with a credit card. That way you can dispute the transaction if you change your mind. If you have a consumer issue call us at 1 800 782-2222.   Volunteers take calls Monday through Thursday from 11am till 1pm.