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Montelongo got me for $37K in July of '10. I was verbally told I'd get a refund, but shortly thereafter they stopped returning my calls and emails.

I fought them through my credit card company, but they will not refund my money because more than 6 months had elapsed since the date of the original contract. I filed a BBB complaint. The BBB asked us to mediate. I agreed.

Montelongo initially agreed, then backed out. I was told my only option is to sue. I have tried several attorneys but can't get anyone to take it on contingency.

Does anyone know of a class action happening against this disgusting and dishonest person?

Location: Providence, Rhode Island

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Guest

You wasted 37k?? The fact that a lawyer won't take this on contingency indicates two things: you won't win and class action is not an option.

Class actions are only successful if millions of consumers were impacted on and most importantly the company is capable of returning the funds. What happened here was a wasted investement in educating yourself on real estate. Just like any education, it is a *** shoot if the knowledge gained will provide a generous return. Then again, I went to college then grad school for my MBA.

Now, I make a decent living, however not as good as some of my peers that I graduated with.

You think it's worth it for me to sue Southern Methoist University because I'm not making a fortune?? Same principle folks.

Guest
reply icon Replying to comment of Guest-915302

I don't think you read my comment all the way through. I have done very well in real estate investing.

I, too, have an M.B.A. (Boston College and Providence College) and did very well in Corporate while building my real estate business on the side. My issue with Montelongo doesn't involve income. I had already made several million and continue to earn a good living this way.

My issue with Montelongo involves honesty. I didn't need his course. I'd been successfully investing for many years already. The market crashed, forcing my financing sources out of business.

This happened to investors all over. Montelongo's hook was to promise 100% funding on all of your flip deals going forward if you bought his course. I did it based on this promise, which ended up being a lie, as he, himself, has no source of funding. He is earning his living by "teaching" rather than by doing.

I learned real estate investing by simply reading books from the library and trial and error. This was the first time I paid anyone a penny and I trusted the wrong people. What it taught me is never to trust again. All in his "class" lost, but one "student" who had never done this before lost just under a million, which was his entire retirement account.

Montelongo got him to sign it over for him to manage, promising excellent returns, which never materialized. Montelongo used the vast majority of that cash to fund his lifestyle. I saw him take others in this way. Once they got our cash they refused to return calls or emails.

Our story has been on the Discovery Channel as well as an investigative report on a Philadelphia TV station just recently. We hope it can save someone else from the same fate. I agree with you. You have to implement your education and luck, location, timing, contacts, etc.

all play factors in our financial success. Lack of honesty was the only problem here.

Guest

OMG, I was watching the infomercial this weekend and I was trying to convince my husband to go, but thank God I did m homework, please people, nothing in this world is "free" and I knew that there was a catch to it but I never imagine that it was this bad...thank you all

Guest

Wow , I almost did this. I cant find any positive posts at all.

Guest

I recently got my RE certificate and thought it would be interesting to attend this event. I googled his name to see if I could get a cost because I know nothing is free.

But this information is very helpful in me making my decision if I should attend or not. NOT!

$1495 plus other fees and a huge fee for the tour ***. Hope others find this before they get taken!

Guest

My contact numbers are 401.294.9793 or 401.954.9204. (R.I.) Call me anytime.

Guest
reply icon Replying to comment of Guest-510496

I just saw the infomercial, and was tempted to attend when my reality check kicked in and told me to investigate. Thank you for your post, and I am so sorry that they took you on their sleazy ride.

I can't believe that it is still continuing 3 years later. I consider myself an honest and trusting person, and I just don't understand how people like this can live with themselves. With his arrogance, I am sure that he justifies it by believing he is worth the money...what a piece of ***.

You won't find an attorney to take this on contingency, but may find someone to cause him havoc for an hourly rate. Good luck.

Guest

misquamicut - how can i contact you? This happened to me too....we need to talk!!!!

Guest

That guy is a sleazy tool. You can tell from his show that he is a douce and married way out of his league, what is she thinking. Anyone who treats others like he does and feels the need to put on a phony front should seek help.

Guest
reply icon Replying to comment of Guest-360041

"he is a *** and married way out of his league, what is she thinking."

$$$$$$$$$$$$$$$$$$ That's what she was thinking.....

Guest
reply icon Replying to comment of Guest-360041

They are divorced. She came to her senses.

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