Everything seems going so wrong after we sign up an investment in Queensland recommended by Member Alliance in Perth.

1. We were told that the contract was subject to financial approval but this was not really the case we found out later. So, if we can’t get bank approval, we have to come up the money to buy the house or lose our 10% deposit.

2. The evaluation from bank is 50K under the value that we paid for and just checked the current market for a property in the same complex, this is really the case. Well, this could be outside of Member Alliance control due to the market change despite all the research done by them that were shown to us.

3. When the property was close to settlement, no one actually contacted us for what needed to be done until I sent out numerous emails to chase that up.

4. The real nightmare started after the settlement, where Member Alliance recommended the worst ever property manager, PPI to us. No contacts, no communication, no reply of email and phone call when we tried to check out if the property had a potential tenants. After much attempts to contact them, we were told there were a lot of applications and they were in the process of getting a nice tenant. This went on for a month and my property was vacant for that period of time.

5. Finally, we get a tenants recommended by PPI, well, end of the nightmare, no! The tenants fall behind the rents which PPI promised to follow up. Never happened until we handed our property to a new property manager.

6. End of the nightmare, no! Just told that my landlord insurance has lapsed a few months back because it was sent to PPI. They never made the hand-over well and didn’t even bother just drop me an email telling me payment needs to be paid. Now, my tenants breach the contract, not able to make any claim on loss of rent and malicious damage based on the new insurance policy.

Member Alliance and PPI, you making my investment experience so miserable and please don’t claim how well you will look after your clients!