![]() ![]() The game begins with a tutorial that teaches you what you need to know to successfully complete a job. Luckily you have a friend called Robert who is more than willing to show you around and teach you the basics of house fixing and design. In the mobile version of House Flipper, you’re just starting out as a contractor trying to build a business for yourself. Overall, the two versions are pretty similar, but the mobile game has been simplified quite a bit with the purpose of providing a more coherent experience on smaller screens. Now, two years later publisher PlayWay has extended the availability of the game to mobile – so both Android and iOS users can finally get some renovations done while on the go. The Houston property is the second in the company's portfolio, which includes an 87,000-square-foot building at 11503 Jones Maltsberger in San Antonio, which also serve as its headquarters.Originally launched in 2018, House Flipper is a video game targeting people who like to obsess over repairing and remodeling dingy houses with the goal of turning them into any family’s dream homes. He often looks at distressed assets, which can take more time to close because of difficulties such as getting accurate information on the leases in place, Montelongo said. Montelongo has identified three other Houston properties to purchase as well as additional properties across the country. The work at Northchase Place will take about 60 days to complete. Renovations on a house might begin two days after closing, but on an office building four weeks would be a more likely time frame. "The difference is: How are we going to go out there and make it look sharp, not just for today, but 10 years from now so I don't have to go out there and do it again?" "I take a lot of what I learned from flipping houses and apply it to the commercial real estate business," Montelongo said. Unlike his house investments, the strategy is to hold the real estate assets while they generate rental income and go up in value. Rents have not been set, but Montelongo anticipates they will be lower per square foot than some competing buildings because he got such a good deal. He will also look for other revenue streams such as bringing in an ATM and a food court and beverages. The building is basically in good shape, but Montelongo plans a complete update of the interior, including raising the level of the sunken floor in the lobby. The 1980s-era building will be upgraded and brought under the Montelongo brand, although a specific name has not been selected yet. Tenants will share a kitchen area, copier and fax machines, and secretarial services. The second floor, currently empty, will be turned into executives suites where Montelongo will target businesses that need spaces from 500 square feet to 4,000 square feet. At 50 percent, it's a triple," Montelongo said. "When I get to 85 percent occupancy, it's a home run. of Irvine, Calif., sold the building.Įven though it is 36 percent occupied, the building already has a positive cash flow after paying principal, taxes and insurance, Montelongo said. The price works out to about $26 per square foot for the 75,000-square-foot property. bought Northchase Place, a four-story building at 13700 Veterans Memorial south of FM 1960, for just over $2 million. Montelongo starred in three seasons of "Flip This House" on A&E and does bus tours across the nation teaching people how to identify investment properties.Īrmando Montelongo Cos. "The commercial market typically follows the housing market by about 18 months." "Now that the housing market is picking up, especially it is super hot in Houston, it's time to go out there and start buying commercial properties," said Armando Montelongo, the CEO and founder of Armando Montelongo Cos. BILLY CALZADA/STAFF Show More Show LessĪ Texas real estate investor best known for flipping houses is expanding into a new line of business with the purchase of a Houston office building. courtesy photo Show More Show Less 4 of4 Armando Montelongo, shown here in San Antonio, shot to fame amid a national obsession with real estate as a star of the A&E show "Flip This House." His company has bought a Houston office building on Veterans Memorial. The company occupies part of the building as its headquarters. owns 11503 Jones Maltsberger in San Antonio. courtesy photo Show More Show Less 3 of4 Armando Montelongo Cos. courtesy photo Show More Show Less 2 of4 The company bought Northchase Place for just more than $2 million. 1 of4 Armando Montelongo is CEO and founder of Armando Montelongo Cos. ![]()
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