Can Armando Montelongo or Than Merrill Help You Succeed In Real Estate?

If you are reading this then you have already shown you have the thinking skills to become a successful real estate investor because you are asking the most important question and doing research. The problem, of course, lies in determining the answer, since all the "gurus" (with one exception) promote themselves heavily and utilize professional salespersons to hawk their programs. So, the answer is not to be found in a "free" seminar or a free digital presentation (often offered under the pretext that suggests it will teach you investing).

Let's take the three most popular real estate investing programs (by actual  sales) as examples of what you might expect from them.

Like most of the late night "infomercial gurus", Armando Montelongo and Than Merrill (FortuneBuilders) rely on free seminars to lure prospects in. These seminars are purposely and professionally designed by expert marketers to provide just enough information to whet your appetite, but not enough to help you get started. To be perfectly clear, Forbes said it best when they wrote, "Seminars are not for teaching - they are for selling." In fact, the entire selling process is patterned after the old "medicine shows" of the wild west, where they first entertain you with a dancing girl or trick shooting, then they tell some wild tale of finding the ingredients for their "cure-all elixer" in the remote jungles of Borneo. And then comes the hard sell. Today's real estate seminars have upgraded the medicine show to a powerful, modern sales pitch. NOTE: Both these programs teach less than 5 methods.

The entire premise of free seminars is to up-sell prospects into the next level, usually a "boot camp" or some weekend program at an average cost of $1500 or so. And in that weekend you will learn more - but still not enough to go out and succeed as an investor. So - you guessed it - the core of the weekend is devoted to up-selling to the highest level, given a cool name like the "Mastery Program". Brace yourself - such top level training will often cost upward of $35,000. And even then there is no guarantee the training will lead to success.

So, what do you do? You may note it was mentioned there were three programs to compare. The third has sold more programs than any other, with the possible exception being Carleton Sheets' "No Money Down" program which has been marketed for nearly 50  years and did not cost all that much back in the day.

The third program was created by Bill Vaughn, a veteran investor with over 50 years experience, who developed the real estate investing guide, "The Simple Man's Guide to Real Estate" and teaches all 24 legitimate methods of real estate investing. You likely have not heard of Bill, because he does use paid advertising - he doesn't have to. With nearly 320,000 copies sold since 1989, this program sells itself simply by being the most effective, which results in "word of mouth" advertising. In fact, it is the only real estate investing program that has no need of infomercials, radio sales, pay-per-click or any other paid advertising - all sales are via a static website. No pressure, no up-selling - and no high cost! Unlike any other real estate program, Bill Vaughn's is offered on a non-profit basis and is sold at its actual cost to produce and ship - under $100.

Furthermore, "The Simple Man's Guide to Real Estate" includes everything needed to succeed, including patented agreement software that easily creates the necessary purchase and sales contracts specifically designed by investors, for investors, and also includes unlimited, lifetime mentoring at no additional cost - the mentoring is provided freely by professional investors who volunteer to help others succeed.

Without the cost of advertising (millions), the cost of "free" seminars (millions more) and the cost of paid mentors (still more millions), it is easy to see how Bill Vaughn's program can be offered for under $100.

But is his program effective? Here are just two examples of thousands, posted on their website:

• Homero, who received a certified check for $10,000 from a wholesale transaction he pulled off in just two weeks
• Russell, who pocketed $16,900 on his first attempt

In other testimonials, some clients made MUCH more. So yes, it works as it should. But only if the client puts in the effort.

If you are seriously looking into learning how to invest in real estate, any of these programs CAN get you there, but only one is affordable and includes a guarantee: if you do not succeed, there is a double money back guarantee. That program is "The Simple Man's Guide to Real Estate" and it is worth looking over.

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Rolling Out Our FREE Guide to Wholesaling

 

So many of today's real estate "infomercial gurus" are touting what they call wholesaling. And almost every one of them teaches a method that is technically incorrect - even illegal in most states.

The method, itself, is actually and accurately called "assigning". To set the record straight, and in an effort to teach the correct (and 100% legal) way to assign, the investor/author who developed "The Simple Man's Guide to Real Estate" has written a new ebook, "The Simple Man's Guide to Wholesaling Made Easy", and it is currently being offered FREE to all customers. 

"The Simple Man's Guide to Wholesaling Made Easy" takes the investor step-by-step from the very beginning - what type property to look for, and how to find them - all the way to cashing out and taking the assignment fee to the bank. 

Wholesaling does not require cash or credit, and you do not have to apply for any mortgage or go to any "closings". You simply get a property under contract, then sell that contract to another buyer who wants the deal you put together (which we also show you how to do). You simply pocket the cash, often within a couple of weeks, as shown by Homero's cashier's check for $10,000.

 Assignment fees can run from a couple thousand dollars to as much as $30,000 or more, depending on the property and the deal you put together. At that rate it would not take long to pay off all your debt, and pay cash for your own home. I know, because I have used such methods to pay off all debt and own several homes, all of which are owned free and clear.

And, as always, "The Simple Man's Guide to Real Estate" course includes free mentoring, just in case you need any further assistance.

"The Simple Man's Guide to Wholesaling Made Easy" is just one more way we have your back and  continue to provide the most complete, most effective real estate investing course available. And the entire course is still under $100, complete.

And with real estate now on the up-tick, and set to explode, there has never been a better time. Rates are still low and the population increasing daily - and everyone needs a place to live.

Maybe it's time to check it out...

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Than Merrill's FortuneBuilders - A Close Look

One of the previous stars of A&E's hit show "Flip This House" and former football pro Than Merrill is one of the the most popular additions to the growing list of real estate investing gurus with his Fortune Builders course. From flipping footballs to flipping houses - neat! But can he really teach a person to become a successful real estate investor, or is it just another scam? Read on, then decide for yourself (though we will add our opinion).

scam Slang n. "A deception practiced in order to secure unfair or unlawful gain. Any act, expression, omission, or concealment that deceives another to his or her disadvantage"

That is an accurate definition of a scam. The question is: does it apply to Than Merrill or FortuneBuilders? Than's program is among the most expensive. Here are a few facts, and how he stacks up against the least expensive that is both effective and low cost so you can compare "apples to apples". Take a close look...

THE SHORT TAKE

Frankly, this review is not really about Than Merrill - we believe he is an honest, upright man who has "franchised out" his FortuneBuilders real estate course. When we mention Than Merrill, we are actually referencing FortuneBuilders. And it is the crews that run what some call the Fortune Builders scam - that's where we have serious issues. This FortuneBuilders review will hopefully allow you to determine for yourself if it truly is a scam, or just unhappy customers complaining.

Than Merrill's FortuneBuilders gets your attention by offering a "free" seminar. If you make the mistake of believing you can become an expert by attending one of Than Merrill's weekend seminars, or even his second step (boot camp) costing up to $1500 you will be disappointed. To get a comprehensive education in real estate investment. Than's FortuneBuilders Mastery program is what you will need to sign up for. But that will cost you - big time! Upwards of $35,000. Compare that to the lowest cost program, "The Simple Man's Guide to Real Estate" which includes unlimited mentoring by actual investors at a total cost of under $150 and teaches all 24 legitimate methods of real estate investing, providing virtually unlimited opportunities for profit. (FYI: the cost is so low because they operate as a not-for profit and the mentors are professional investors who volunteer their services).

Of the 24 tried and true legitimate methods of real estate investing, Than Merrill and his FortuneBuilders primarily teach only a couple - rehabbing and flipping foreclosures, which has very limited applications, and also requires availability of cash and good credit - two things that most people looking for financial security do not have. Having only one or two methods of investing is not a good plan - markets and economies change. A method that works well in one market type may be a complete bust when the market changes. Compare that to "The Simple Man's Guide to Real Estate", which teaches all 24 methods, in clear detail, 8 of which do not require cash or credit from the student/investor. No matter what the current economic conditions, there are strategies that will make you money. A successful investor starts with a well stocked toolbox which simply is not what FortuneBuilders provides.

Like most "gurus" Than Merrill uses high-pressure sales gimmicks like infomercials and seminars and pay-per-click Google Ads to hawk his program. The fact they have to keep doing infomercials would indicate that his program is not effective enough to create substantial word-of-mouth recommendations and the bulk of his students are not successful enough to result in enough referrals. The comparison program, in this case "The Simple Man's Guide to Real Estate" does not use, or need, such gimmicks. Most of their students come from word-of-mouth referrals by current students.

As a side note, Than's FortuneBuilders ran afoul of the Better business Bureau until he agreed to clean up the misleading hype to reflect something more in tune with reality.

COACHING

Like most real estate gurus, Than Merrill and his FortuneBuilders offer coaching if you join the FortuneBuilders Mastery program at upwards of $35,000. The exorbitant cost of his program can be directly attributed to the cost of the mentors, the costs associated with running infomercials and radio ads, and hosting the "free" seminars. In comparison, "The Simple Man's Guide to Real Estate" has none of those costs - their qualified mentors are volunteers, and they don't run infomercials, advertise on radio or host seminars designed to upsell - they start right out with the training, not with salesmen trying to upsell you to the next level. And because their mentors - professional investors - are volunteers, the mentoring is free, keeping the entire cost to under $100. (find out why their mentoring is free)

As of this writing, the real issue - and it's a big issue - we have with Than Merrill and FortuneBuilders is the "medicine show" seminar structure designed to upsell the audience to much more expensive add-ons, and the exhorbitant cost that is so typical of most gurus. As so aptly stated by FORBES magazine, seminars are for selling, not teaching. Than Merrill and his Fortune Builders entices folks with a "free" seminar, and then will slap them for $1500 for the "follow up" seminar, and upwards of $35,000 or more for the full program. No training in real estate investing is worthy of the prices most of these gurus charge - thousands, and tens of thousands of dollars. Real estate investing is not rocket science - average folks have been doing it successfully for centuries. It does not require a college level education, so it should not cost as if it were. When gurus such as Than Merrill or Armando Montelongo charge anywhere from $5000-$60,000, they are billing their students for the humongous costs incurred for traveling the country, promoting and hosting expensive seminars, and paying for their infomercials and pay-per-click ads. Frankly, if a person has upwards of $35,000 to invest, they likely do not need Than Merrill!

COMMENTS

Most people would expect Than Merrill, himself, to be present at his seminars, considering how much they are paying him. And most people would be wrong. People who have attended his seminars report to the BBB that Mr. Merrill does not even show up at them, instead having high-pressure sales persons handle the seminars, since they are sales pros adept at separating people from their money. Here's the "why" - Than Merrill created FortuneBuilders to be a franchise. Expert salesmen run the seminars and programs. The odds of seeing Than Merrill at one of his seminars is as slim as meeting Colonel Sanders at your local KFC (assuming he were still alive). Frankly, we suspect you would make more money buying into his FortuneBuilders franchise and selling his program than you would make from using it

OK, so the question we started with - whether or not Than Merrill aka FortuneBuilders is a scam...

You can decide that for yourself, but the way we see it, it is not a true scam and does not really fit the definition, but the effect is nearly the same. But our issue is that it is far too expensive for what you get, and for the slim odds that Than can make you wealthy.

A Low Cost, More Effective Choice

If you want to learn all 24 methods of real estate investing , and you think you would like access to a free coach who has at least 20 years field experience in real estate investing, personal one-on-one calls with the author, and if you want to save a ton of money over what Than Merrill would charge, then check out the course that beats them all, combined. With an "A+" rating at the Better Business Bureau, and offered by a non-profit to keep it affordable (under $170), "The Simple Man's Guide to Real Estate"  is the most comprehensive and effective of all the courses available today.

It's lot like fixing your car - when it starts to act up, and your mechanic says it could be a $5.00 part, or maybe a $5000 new engine, which would you have him try first? 

It doesn't cost anything to look...

Than Merrill's FortuneBuilders - But WHO is Building the Fortune?

 

We all know that real estate makes millionaires out of ordinary people. And anyone interested in real estate investing has probably heard of FortuneBuilders, operated by the former star of A&E’s “Flip This House” Than Merrill. It appears no city in America misses his real estate seminars.

But as Forbes magazine so aptly pointed out, seminars are not for teaching - they are for selling! And Than's "FortuneBuilders" is very good at selling. And selling. And SELLING!

"Kim" wrote me a letter recently detailing her experience with FortuneBuilders:

Here is Kim's letter - we receive many such letters every month:

Kim<******@ymail.com>
To:intellibiz@yahoo.com
Subject: Than Merrill
Mar 25 at 11:20 AM

"Where I already knew Than Merrill Fortune Builders would try to sell us on a more expensive program. We went to get some insight to the weekend workshop.

"Having previously been involved in some RE dealings but still learning it did give me some helpful info worth my $200

"We knew they would try to upsell a larger program & after looking them up expected $15,000-$30,000 as their price. People fell over at the $49,000 price tag then $34,000 or $25,000. In addition $97 monthly for software. $20,000 for an intense 2 day program after the Mastery program. It went on & on.

"They should be ashamed to ask that much. Sell books at $100-200, sell software for $250, sell forms for $300. Anything in bits & pieces people can choose, I would think they would get more sales as opposed to having all but 2 people walking out

"It's not an accredited college so don't compare it to one with those prices.
Yes invest in knowledge but don't rip people off.

"We are so glad we found "The Simple Man's Guide to Real Estate". A simple, complete program at a VERY affordable cost. Thank you"

The primary purpose of this article is to try and help keep some people from falling into the “medicine show” trap of the seminar circuits of infomercial gurus like Than Merrill, Armando Montelongo and the rest. That is not to say that their programs cannot work - what I am saying is that success stories are relatively rare, and NO real estate investing program is worth upwards of the $35,000-$60,000 some of these people charge.

FortuneBuilders first lures people who are desperate for financial security to their “free” seminar. This seminar is just a teaser, where a high-pressure sales pitch is used to get attendees to shell out $1500 for the REAL seminar. And at that “real” seminar the attendees are pressured to protect their $1500 investment by plunking down another $35,000 for the "full Monte”.

There are legitimate real estate investing courses available, but you won’t find them on late-night “infomercial” TV. And they will not cost an arm and a leg. Courses like “The Simple Man’s Guide to Real Estate” which includes everything needed to invest successfully, including free mentoring for life - and the cost is under $100 COMPLETE. How is that possible? It's easy - they operate as a not-for-profit, run strictly by volunteer investors. It's unbelievable what you can do when the profit motive is removed!

Can You Buy Real Estate Without Cash Or Credit? YES!

There are 24 legitimate methods of purchasing real estate. Most real estate gurus like Than Merrill, Armando Montelongo and Ron LeGrand only teach between 2 and 5, which severely limits opportunities for making money. "The Simple Man's Guide to Real Estate" is the only program that teaches all 24 methods - and 8 of them do not require cash or credit!

I will now show you a simple, little known method anyone can use that does NOT require you to put up any cash. None. In fact, your credit need not be great, either. This method is a great way to break into real estate investing - or even to buy your first home - if you are short on cash and/or credit.

This method is also great for those who have cash to invest and want to put it into a safe, profitable investment vehicle. No matter which side of the transaction you are on, this method can provide huge profits with little or no risk. 

Approved by the I.R.S. this is known as Equity Participation, aka Equity Sharing. While it is often used in non-real estate transactions, it works equally well for real estate. What I am about to share here are the basics, so you can fully understand how it works. The finer details can be found in "The Simple Man's Guide to Real Estate" investing program along with 23 other methods, some well-known, some not. Equity Participation can be used to buy your own home, a rental unit, or a property you want to flip to another homeowner. It can also be used in a way that allows you to be on either side of the transaction - buyer or seller, which shows how versatile this method is. 

To buy the property with no money down and less than best credit, you would locate a property (using methods taught in "The Simple Man's Guide to Real Estate") where the seller does not require all cash at closing and wants to "invest" some of his equity in a profitable investment, and one he knows well - his own home. The seller would leave enough of his equity on the table at closing, to be used as the down payment required by the bank from which you are obtaining a mortgage for the balance. That takes care of the down payment. If your credit is too weak to finance a mortgage, the seller could also use his credit to co-sign for you, since you will be co-owners of the property. 

 Here is how it works: 

Let's say the home is valued at $150,000 (just as an example). The bank requires 10% down ($15,000) and will issue a mortgage of $135,000. The seller owes $85,000 on the house, so he has $65,000 in equity. At closing the bank puts up the $135,000. From that, the closing agent uses $85,000 to close out the seller's mortgage, leaving the seller's equity - $65,000. The seller puts up $15,000 of his equity as your down payment, and both of you would be "partners" in owning the house. Your Equity Share agreement with the seller would lay out all the specifics of the partnership. Typically, the agreement would be for 5 or 7 years. You and the seller-partner would share in the appreciation of the property in that time, and in any profits if used as a rental. At the end of the term, you would refinance on your own and pay the seller the amount of his investment plus half of any appreciation. If the property has appreciated 20% over the 5-7 years ($30,000), he would collect his initial cash outlay ($15,000) plus $15,000 of the appreciation, all taken from the cash at the refinancing. If the refinance does not provide enough cash, you can simply sell the property at its appreciated value ($180,000), pay your partner his $30,000, pay off your remaining mortgage (now under $135,000) and you pocket the remaining $15,000+ profit. 

You had the property 5-7 years to live in or rent out, and made $15,000 to boot. 

 NOTE: if you rented it out at a profit over and above your mortgage & expenses, your partner would get half that profit, as well. 

Now let's assume you have money to invest, and want a safe, secure investment. Instead of a seller putting up equity, you, as an investor would do that on behalf of a cash-poor buyer. You are partnering with the buyer. At the end of the term you could easily have doubled your money without the risk that investing in the stock market could incur. 

This method, used either way, is powerful, and much safer than most other investments. For more detail, and to have access to a professional investor as a mentor, order your copy of "The Simple Man's Guide to Real Estate". In addition to all 24 methods of investing it includes 24 real estate related bonus books, software that creates your agreements/contracts easily and a 24/7 mentor - all for Under $100 complete. 

How can we do that? Simply put, we operate as a not-for-profit and the professional investors we engage as mentors are all unpaid volunteers. We are faith-based and this is how we give something back to the community. 

At least check it out - it costs nothing to look us over.

 Thanks, and stay safe 

 

New, Risk Free Method to Wholesale Real Estate

 

You may already be aware that several "infomercial gurus" talk about wholesaling (assigning) real estate by selling a purchase agreement contract to another buyer. And while there is a good case to be made for wholesaling, there are risks - and costs, cited below, but there does not have to be either risk or costs, as explained later.

Let's start with the cost of typical wholesaling. No seller is going to agree to a purchase contract without 1) checking your credit, and 2), getting a substantial earnest money deposit. Assuming, however, you are able to overcome those things, once you have a contract you can end up locked in if you are not really careful - if you cannot sell the contract to an end buyer in the time available, you could get stuck having to buy, and that is a serious risk.

That said, a good "contingency clause" like the one in "The Simple Man's Guide to Real Estate" can overcome that, but even that may not completely eliminate all risk.

But what if I were to tell you there is another way to wholesale, without the cost or the risk. A much simpler way, developed by the author of "The Simple Man's Guide to Real Estate". A successful investor who started in 1969, Bill has developed several of the methods now being promoted by "the gurus", and soon they will likely be promoting this one, too.

Simply put, everything is the same as wholesaling a purchase contract except that the investor would be wholesaling an option agreement. You see, with an option there is a right to buy during a specified time frame, but in contrast to a purchase agreement there is no obligation to do so. Because you are not actually buying at this time, there need not be any credit check UNTIL the option is exercised, at which time your end buyer would be having a credit check done, not you. And because you are not yet buying, there is no need to put up a substantial earnest money deposit - in most instances a small payment for the option is all that is necessary. In fact, under the law it could be as little as one dollar, and the option agreement could stipulate a more substantial earnest money payment to be made upon exercising the option - a payment your end buyer would make.

What if the seller objects because he does not want to tie up his property if another buyer should come along? Simply offer to put a "kick out" clause in the agreement - if another buyer comes along, seller would give you, say, 30 days to exercise the option and buy, and if you cannot, he can cancel the option and sell to his other buyer. He has nothing to lose.

Using the option method simplifies wholesaling and eliminates all risk. An investor could not ask for more.

It is important to note, however, that any form of wholesaling real estate does require a complete understanding of the process, in detail, and being aware of any caveats and how to avoid them. And that's where "The Simple Man's Guide to Real Estate" becomes your most valuable resource, not only because it provides all that, but because it also comes with free mentoring if you need help.

If you have ever considered becoming a real estate investor, you owe it to yourself to check it out. It costs nothing to look, but can cost you a fortune if you do not.

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