Ron Cross Parktrent
|A message from Parktrents founder and CEO, Ron Cross.|
1.00 out of 5 from 3 reviews
I cannot understand how this company is still in business. I know now of many (including myself) who have lost very badly for dealing with this company, and I know none who have profited. I cannot understand why there is not more consumer protection from such an unscrupulous company. It took me a while to realise that I was overcharged by $100,000 and this impact terribly on my prospects of retirement, which was the reason I purchased in the first place. My honest advice would be to believe NOTHING you are told by any agent of Parktrent. I would genuinely like a response to my question about where there is some consumer protection, and why they can continue trading. DO NOT DEAL WITH THEM!!
To all Investors planning to invest in Park Trent, My experience with Park Trent was is the biggest mistake I have ever done when it comes to making money. I was sucked in by their agents who promise high rental yield and capital growth. Anyways I come to their Wollongong office to see what they can offer and the agents works out my financial situation etc… shows me a property saying that the rent would be around 6.5% yield and promising that the property will double within 7 years time. And then I said ill come back and think about it, so the agent then said its the last one they have available on that area I signed the contract when in fact I was one of the first one to purchase in that estate. So I did more research and found that some other developers are also building new estates around the area whichs sells for less and much more superior overall (land size, house quality etc.). In my reserach. I also found out that the property is worth $100,000 less of what I paid for. In addition i kept asking the broker why my LMI is so expensive when in fact I had equity on currnet house. I ask the broker and he replies with "the bank works it out". He knew why it was, because it was $100,000 short. Banks may be conservative but $100,000 is very conservative. Currently the property is vacant and the capital growth last year was -7%. In conclusion, do your own research, get your own solicitor and broker not the ones that work for parktrent saying that its easier because everything is at one place and read the contract before signing it because their contracts are UNCONDITIONAL. YOU DECIDE IF INVESTING IN PARKTRENT IS GOOD FOR YOU!!
We were contacted by phone by ParkTrent Property Investments. We attended their premises in Wollongong where we shown some investment properties. We were pressured numerous times that the properties would go up in price at the end of that month and if we didn’t sign now, we’d miss out “on a bargain”. Various comments were offered such as “this is a great one, it will sell this weekend whether you buy it or not”. Unfortunately for us, after a period of approximately 6 hours, we foolishly signed up to purchase 2 investment properties. This experience has been a nightmare from start to finish. Every offshoot of Parktrent that we've dealt with, from their recommended solicitors, their financial services (Easyplan) to their real estate agents (Cross Country), has been incompetent, unprofessional and overpriced. Their properties are well above market price to purchase and as soon as the rental guarantee runs out, they are difficult to find tenants for. We are financially ruined because of this company (and admittedly our own stupidity at falling for their tactics). Don't take my word for it - google "Parktrent Investments". Do not deal with Parktrent!