- Verified customer
Poor performing investment
Currently trying to dispose of one of these houses, we bought in 2008 so we have owned for 11 years. In that time it has cost us approx $5,000 per year out of pocket after all the deductions etc. (so $55k in total). The house is currently worth what is was in 2008, however we now get a CGT tax bill of approx $15k due to the depreciated cost base, add the custodian 'fee' on top of $22k, all up we will be out of pocket about $90k - stay away.
CUSTODIAN - WEALTH DESTROYERS
Custodian sell land barely legal on which to build. Employ dodgy builders & real estate agents who charge above average rates. My house sunk into the ground leaving me bankrupt with no one at Custodian wanting to contact me. My appointed real estate agent, Ray White Aspley, and builder, Indigo Homes, both lied to me.
Avoid Custodian at all costs.
I received a cold call yesterday from the mobile number 0480 017 426 with a lady saying she won’t take too much of time, but invited me to attend their property seminar which included free refreshments.
I suggested to her it sounds like a scam and I wasn’t interested, but she assured me it wasn’t a scam and to look up their website.
She couldn’t tell me how she got my number. However, a little research indicates they are most likely the developer selling property at over inflated prices while also organising finance where they receive commissions and trailing kick backs on the loans.
Avoid at all costs. It’s a wonder how people like this escape the regulation of ASIC.
Questions & Answers
I have to agree with the majority of the negative posts here. My wife and I also attended the seminar which we enjoyed as we had been looking into this and gathering information for approx 6 months. We requested an appointment which we had with Darryl and gathered more information which we were excited to proceed and invest both inside and outside our Super. We supplied some general information about ourselves which obviously see's if we are suitable to invest which we are/where and where given an appointment to attend an office in Fortitude Valley for more information and qualifying process along with starting our SMSF.I contacted Custodian a day before our Saturday appointment as I haven't received an email as promised with what information I would have to bring and even the address of the Fortitude Valley Branch and was then told our appointment was cancelled as we have to proceed with another step first which I was going to receive more details about, to which I still havent from weeks ago. Before you respond Maria with please correspond through me, I did on the 30/01/2020 (subject CORRESPONDENCE) to which I haven't received anything back for you either or the numerous texts etc to Darryl.
If you claim to be a wealth building company you must be going broke as we want to invest through you and you wont even take our money, not real good business 101 right there!!!!!!
Do you do property management in Melton South?
HI Tintin, our core function is helping Australian families use their equity to build wealth over time through property investment (in a nutshell).
Our partner for Property Management is Little real estate. https://www.littlerealestate.com.au
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.