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Hello all.
I just want to respond to the allegations made here in this forum.
There is no denying that any investor who went into central Queensland before the boom ended and stayed has now made a significant loss and many may now be in a difficult situation, but the true villain in this situation has been unforeseen market forces. I too was dramatically affected by it.
I understand how some may seek to blame me or others for for their dilemma, but ultimately we must all accept responsibility for our own investing decisions.
The market in Central Queensland was booming and investors were making significant gains. Many of the major property investment firms were helping people get into that market, and many investors simply just demanded it and weren’t interested in anything else.
But the following key unforeseen events happened and that ruined everything for everyone:
– BHP-Mitisbushi Alliance (BMA) ordered an unprecedented and unforeseeable rental block out where they refused to rent any properties for about 6 months at a time that also coincided with them shutting down operations that were union dominated. This rental block out was devastating to the rental market seeing rents that were in the $1500-2000pw range, drop to below $600pw in many cases. This in turn caused a major panic sale of properties and the prices soon followed as the number of sellers rapidly increased, and the buyers disappeared.
Additionally, the then Labor government introduced the carbon and mining taxes that they made an election promise to Not bring in, which resulted in many mines cutting back on their operations to avoid the new taxes pending a change in government.
To add insult to injury, the US and Canadians also dumped a lot of cheap subsidised coal on the global market which collapsed the coal price, and in turn resulted in further job cuts.
All these events were unfortunately unforeseeable and therefore difficult to ultimately avoid.
The moment the situation changed we did of course immediately cease introducing clients to anything in that area. But many were already committed to projects that were also dragging out due to developer delays. I know of one of Australia’s more well known Property Investment experts who had 20 properties of her own in Moranbah alone.
Of course had we have foreseen any of these events we never would have gone there in the first place, but noone has an all seeing crystal ball and it’s wrong to ever expect guaranteed results from any recommendations you ever get when investing. The bottom line is that we must ultimately all accept responsibility for our own investing decisions.
Whilst it is easier to seek to blame others when things don’t go to plan, noone forced anyone to sign anything. The decisions are ultimately that of the investor themselves. There is no such thing as a risk free investment and the real villain in this scenario has been the unprecedented and unforeseen market events.
This whole issue has been difficult for all involved, but I have remained contactable throughout all of this to all clients who needed any assistance, and I remain so.
As a company we now only introduce clients to Eastern seaboard capital city opportunities.
Regards, Daimien Patterson.Hi All,
Daimien Patterson here.
I acknowledge that as a public figure I will be criticised in public forums like this and I accept that. In fact I think forums like this are great.
But let me put this on the public record.
I recognise that the property investment industry has in the past had some people of highly questionable character, and that has caused our society to have a healthy suspicion of any company that provides property investment related services. Fair enough. But reputable companies still do exist and I will defend my integrity and that of my staff from any attempts of unfair defamation.
I am an ex-Army officer who served our country for 14 years including in East Timor and Iraq. I value my integrity, and that off my staff, and will defend it from people who seek to tell only one side of the story. You can read more about our company at http://www.propertyinvestmentmentor.com.au if you wish.
I myself, whilst still serving in the Army and property investing on the side, went through the wringer of all the seminar companies and dodgy spruikers. I was exploited, lost money, and watch others lose it too. When I left the Army, after a short time working for another company, I decided to start my own company founded on Integrity (hence the name) that helped clients rather than profiteered from them. Whilst no one can control the market, we can control the amount of effort we go to to give our clients the best chance of success, and that is what we strive to do.
That said however, I refuse to allow anyone to treat myself or my staff with disrespect or unfairly defame us. Out of professionalism I will not disclose the full name of the person above who seeks to discredit me and my staff, but I will tell you the full story he has not.
What he has not told you is that he was abusive to my staff on two occasions and I was not prepared to give him a third opportunity so I dropped him as a client; and I would do it again to any other person who believes that is an acceptable way to treat anyone, let alone my staff. In retaliation he has taken to social media in some kind of misguided revenge attack.
He did proceed well past our one-on-one first consultation and enjoyed the benefits of the services that we offer after that point including the products of our research team and our risk management information. Both services that are highly valuable and expensive to produce.
He did then later ask for a refund on the first appointment well down the track. To this I refused.
There is always two sides to a story ladies and gentlemen. Thank you for taking the time to read ours.
I am almost certain that there will be another outrageous assertion by the individual in question, but please understand that I will not be responding to it any further.
If any one else reading this forum would like to continue this conversation with me please email me directly on [email protected]
Kind regards,
Daimien Patterson
