Armondo Montelongo Seminars
Complaint 76420 Details

When I went to the free seminar it was encouraging and led by a motavational speeker. He explained that for more teaching it was going to cost more and that they had a 3 day seminar for a little over a grand. I thought ok if I can learn what I need to know it would be worth it. The speaker at the 3 day seminar was very good and taught us many things. If I would have stopped there it would have been ok but he then offered very thourough training split up into 3 trips that only the very successful go to. I wanted to be very successful and signed up for all 3 trips. After getting home I felt sticker shock and wondered what have I done. I am a middle aged man and I just put 40 grand on charge cards at high interest. I talked to my wife about it but we waited too late. I soon found out that my credit was ruined I had no money and banks were not going to help me. In the course they preached repeatedly about using hard money lenders who charge 4,5,6,7 points and 12% interrest but will fund your deal and in a short period of time I'll be makeing lots of money. Problem is the hard money lender only comes up with 65% of your money, leaving you "broke" short and having to borrow money from someone else. By the time you pay all the fees that come with buying and selling and rehabbing and holding expenses there is no money left for you. I am a 52 year old desperate male like so many others, that are feeling the physical detioriation of their body and are just now getting to the empty nest phase in life desperate to find a path to retirement before they colapse. This is feb 2012, I haven't given up and I have learned a lot I know people have done this and I know I can but it would have been a lot easier If I had not taken the armondo montelongo class. Armondos' speaker was correct this has been a life changer of a class. It has taken a desperate man and made him more desperate. My generation is already screwed, people like Armondo need to be locked up and whatever money,property etc needs to be given back to the students he screwed.