MIAMI—Flipping. Yes, it's still a trend. The difference is thetrend is edging up on the value scale—and ArmandoMontelongo is smack dab in the middle of the action.

In this exclusive interview, caught up withMontelongo, a real estate entrepreneur best known for his role onthe A&E reality TV show Flip This House, to get histake on million-dollar flipping. We also asked him about theprinciples for success and his secret sauce in this luxurysector. The past few years there has beentremendous focus on all the foreclosures of homes for the lower tomiddle class, but in addition to those opportunities, you sawanother niche in million dollar properties. Why do you contend thatthe wave of all these new million dollar listings (in line withBravo's newest show, Million Dollar Listing Miami) are a crackedfoundation for what will follow, million dollarflips?

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