ParkTrent did not inform me of a large discrepancy between the purchase cost and the bank valuation of a property they recommended I buy. They profit from inflicting pain and loss on their clients.
Be extremely cautious when investing with parktrent!
a minute ago
I went to the property event in 2011 in bankstown sportclub nsw, everything seen to be positive.
Had one of the sale rep came around to our house to talk about investment strategy and we end up signing up on the applications and agree to have the next meeting at their office in Wollongong. We end purchasing a one bedroom unit off the plan in Melbourne cbd under the impression that it's a hot market and we would made a good equity on the purchase.
We still have the one bedroom unit and it's the worst investment property we bought. To be precise we bought the unit from them for 340k at the time which it was only worth 320k max at market value (base on bank valuation on completion) that's 2 years after the purchase.
Now we want to get rid of it after having it for 8 years anf the real estate said we be lucky to get close to 300k.
There's nothing we can do now cause it under our name and for us to sell it after 8 years and make a loss! I don't think that's a legit company to be investing your time and money into making something for yourself and your family.
It's one those harsh lesson in life for us, it will make us think very carefully in investing with companies like this cause at end of the day it's our loss and their gain.
P.s I don't like writing reviews but it's reality and the truth about these kinda outlet to invest in. Hopefully this will benefit others and make them think carefully and do their research before investing their hard earn money.
Park Trent Properties free seminar
This is my first time i’ve attend Park Trent Properties seminar It was very informative.
CEO Ron Cross delivered a wealth of information and gives great knowledge on how to invest.
I found Ron to be professional, knowledgeable and helpful to me so I can understand the market, while providing information I wasn’t aware of.
A well focused presentation with much of information regarding the market trend of real estate across Australia and showing the real value of investing in property with some advice regarding managing cash flow
I bought a townhouse from Park Trent 10 years ago and I have been told that it was a good investment but got con into it. They started managing my property for me and it was a nightmare. Due to the high staff turnover they change property manager many times. Did not inform me of inspection although I am keen to go. Tried to put my property in the market today and I will be lucky if I could sell it for 10% below the market price.
This is a good
Ron is so wonderful, lovely man and very professional. I have learned something new from his presentation. He introduced a few properties that would be nice if I have enough money to buy it.
Thanks for the evening
Stay away from Park Trent, run as fast as you can
Don't believe their sell stories / projections, You buy 20% over market value, they promise the world in Value Growth, no growth in apartments, bad investment, I am still under water, Mortgage bigger than value Apartment, and we are 5 years down the road, and counting backwards.
Absolutely worst service
They want your money, that’s it. Investors must stay away. Lack of teamwork, communication, and not responsive. They gave my property to the builder to build and it takes 4 years to build. They were keep giving me false information.
Trust money unaccountable
I was invited to purchase a property years ago, so I put in a $5,000 deposit for the property which was put in trust. Then the property was not purchased cause the timing of the sale of my current property. But then [name removed] came to see me to have me purchase another property option which I agreed. I took a small loan out for the deposit. However recently due to strict bank loan rules I was not able to get a loan therefore not able to purchase the property. So they only refund me $42,000 but never refund me the initial $5,000. I have been emailing them since July regarding the accountability of the $5,000 and never got any response till today. So disappointing.
This real estate is the worst of them all. I am still seething at having been conned into buying an overpriced property and also angry I was stupid enough to go along with it. If sold now after seven years of ownership I would make me loss of $100,000. I had to cash in most of my super in order to get rid of my debt. Don't even think of dealing with these crooks. Even one star is too much..
Parktrent is a scammer
Investor should stay away from Park Trent property group, because they are very cunning and try to get your money. At first, their consultants are polite by friendly manner and their hospitality such as offering prizes like wine, voucher to winner for answer their questions right at their seminar. Then after the seminar, they may contact you for a personal meeting at your home or at their office with a free meal. Then they will draw a prosperity for financial freedom, retire early with beautiful life style to temp you into their trap. They will ask you to withdraw your Superannuation for investing property. In reality, the figure for capital gain will not be high as they say. They just want to take your money by commission. They will try to persuade you into buying an apartment instead of house. House prise will have more capital gain than apartment, as it has bigger land than an apartment. In reality, building value depreciates with time but land value will increase with time. I notice that most of their property consultants work for Park Trent not very long ( 2 or 3 years ). Then if an investor want to complain his sale consultant, then the receptionist will let you know that he or she is no longer work for Park Trent. You should not trust agent and investigate them by review their reputation in Google search.
Watch out for purhcasing new developments and rental review
Our experience with Parktrent managing our investment property rental has been good so far (circa 6 months). However 2 from 4 of our investment properties did not progress as planned or promised.
Scammers selling overpriced property
This company scammed us by selling a property $50k over the real value. Lost $50k. They use shonky financial brokers who find ridiculously high interest rates to finance these properties that banks won't even touch. High pressure salesman including [name removed] who just want you to sign that contract regardless of your financial situation. Biggest mistake of our life kept our property for approx 9 years and still sold for a loss. This company doesn't want to know you once they have your money. Would give them a 0 if that was an option. Overall: high pressure, exuberant overpriced prices, shonky easy plan high interest rate brokers and crazy regrettable mistake
The most unorganized real estate
I've been renting a place through these guys for 4 years and I've had nothing but trouble from them. They never return emails, you call them and get put through to a department that always seem to be put of the office, my roof was leaking at one stage, they finally got back to me weeks later. At one stage they didn't even process my rent raise authorisation form and for over a year they kept deducting my old rent amount. Useless real estate. Use someone else.
I actually feel sorry for any landlord that use Park Trent.
Rented a new apartment and advised them of building defects several times, after the 4th change in property managers within 3 months i gave up.
I had to pay $470 for electrical meter work on behalf of the landlord and then I would be credited that amount in rent.
After several emails and receipts sent to them we went into rental arrears for weeks.
Nothing is easy with this company, avoid at all costs.
Never Deal with these people!!!!
having big office in Wollongong, ripping people. review the company history (not good at all) before dealing with this company. not suggest!!!
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