Hi Rob,
Buying through Park Trent (or any other packaged product) just means that you are paying a premium price for the product that they are developing….
Get a clear idea of current prices in the area of similar properties. Don't rely on their advice, which is part of their marketing.
Don't sign anything on the spot, regardless of incentives, but go away and do your own homework.
And read the fine print on any documents you are signing, before signing!quickchick
Hi All. Just joined the forum to re-acquaint myself with the property scene.
My wife and I have recently been to see PT, and this was the impetus to do more research into them.
The NRAS scheme was widely promoted on the initial sales call for the public meeting and NRAS was pretty much the entire focus of the meeting in Sunshine (Vic).
NRAS was spoken of quite a lot at the initial home one-on-one meeting, the scope, implication of the scheme, financials etc etc.
We paid the $110 to have the personal assessment and I am thinking now that the investment was in 2 quite nice coffees at $55 each from their coffee machine.
The guy we saw was nice and appeared to be knowledgable, but it would appear that the term 'bait and switch' could be used in this context as the NRAS properties were given a thorough negative analysis in comparison to a shiny new city apartment building. The term 'guaranteed return for 2 years' was also used as per other posts.
We took full financials along to the meeting, as asked, but they were never requested for validation. Maybe we are a bad risk as I am self employed?
I remember someone, possibly Steve, many years ago commenting that land value was a good thing and have thought through this and tend to agree.
I don’t think we will be proceeding any further with this and I think I will even try to get the price of the coffees back, given the initial spiel was exactly that, and doesn't appear to represent what they are really selling when it comes down to it.
So, my thoughts are what most others are advocating "do your own research".
Cheers,
Fred
Hi fred,
Hope you get your $$ back!
But I think you learnt a relatively cheap lesson, compared to if you decided to buy!quickchick
We met with one of the consultants and everything seemed ok. We are going to think about what we will do. I think its making sure if you can afford to buy first then finding out where you will get the quickest and biggest growth.
I must say i am disappointed that some comments have been taken off this site by Park trent. At least leave the comment on site and put your comment underneath. This has started to make me question whether this is a good thing or not now. If you have nothing to hide then just add a comment and don't dealt peoples comments. Thinking hard now if I should do this?????Hey "Free to speak". Read the danger signs. We've been there and have been badly burnt. Don't trust a word they say and then look up the Principal (RonCross) on Google. Not good reading. Cheers K
Hey Canabeans (and Free to speak), thanks for the info. I justed looked up Ron Cross on Google. I was looking at investing, but I'll stay well clear of them. Anyone else got any suggestions on where to go (and who to stay well clear of)?
Thanks.Draxonic, looks ok to me, except you forgot your full name and contact details.
Moderators, I feel your pain.
Cool Draxonic.
I can see all your points, but I've got friends who have dealt with them and bought more than one investment property and haven't had a single hassle. I think everyone should be open minded and take on board what others say, although I do believe it's best to find out yourself. Always do your research and make sure you read the fine print. It's the people that don't read the T&C properly and then complain about it.
Maybe you are right Draxonic, afterall they've successfully managed to escape the legal system and are still operating. Maybe if our laws and watchdog systems were more effective we wouldn't need to be participating on this blog.
Cheers K
I hate parktrent. After they have entered you into borrowing money, they will ignore you.
While convincing you, they promise everything, but after you signed, you;re doomed.
Ron Cross even told us that we cannot back out, else we will have to pay over $100,000 which is more than my 2-3 years salary.
<moderator: delete personal comment>
They recommend you the bank and solicitor who are all for the benefit of Parktrent, getting their commission, after that, you;re on your own.
I CANT IMAGINE THESE PEOPLE ARE ABLE TO SLEEP. WHILE WE, INCOME EARNERS ARE WORKING HARD TO PAY OFF THE MORTGAGE THAT THEY GET US INTO.
But God is not sleeping, God is just. and He looks after those who have been taken advantaged of.Does anyone know a reliable private solicitor who can interpret for us the validity of transactions with Parktrent? We need to find out if an honest discussion was had before we signed up for the property investment.
Hi Unhappyinvestor We have been very badly burnt by Park Trent and EasyPlan. High pressure sale pitches which are quite believable, but the end product is empty promises <moderator: delete personal comment> and very much overpriced properties. Don't trust them. And Google Ron Cross and check his dubious history. Cheers K
I am so sorry that you feel this way. I work for ParkTrent in the Customer Service Dept. and would love to help you resolve any problem you have. As you have posted anonymously, I have no way of contacting you, so please feel free to contact me on my email address [email protected].
ErinS wrote:I am so sorry that you feel this way. I work for ParkTrent in the Customer Service Dept. and would love to help you resolve any problem you have. As you have posted anonymously, I have no way of contacting you, so please feel free to contact me on my email address [email protected].Erin,
I am sure that you are genuine in your efforts and no doubt your boss's have you working away looking for complaints on forums but the fact is that your role as a Customer Service Assistant will do little to help the fact your properties are well and truly overpriced and surrounded by properties purchased other clients of Parktrent who did little due diligence creating a nice little rental slum area down the track.
Erin from ParkTrent here – we openly recommend clients engage independent advice where required. Our relationships with our clients and external stakeholders are transparent at all times. All contracts are legitimate legal documents that are fully compliant by State and Federal legislation, not only does the client's solicitor vent the contact, so too does ParkTrent and the developer. At ParkTrent we only deal deal with reputable, quality and established Companies which ensure the best quality and value investment for our clients.If you have any further questions please feel free contact me at [email protected] and I can put you in touch with the appropriate person who can discuss the exact nature of the transaction including trust accounts, finance and the settlement process, or anything else that you may have questions about. We are here to help. Look forward to discussing this further with you.I recently paid to attend a one-on-one session with a ParkTrent consultant.
Prior to that, I specifically made it very clear that I was only interested to find out more about NRAS properties in Queensland regional areas.When I turned up for the meeting, I was really unimpressed that they did not do any homework, and proceeded to sell me overpriced off-the-plan apartments in Melbourne CBD instead – clearly against my prior request. I felt like I had walked straight into an intense high-pressured selling trap, and worse still, I had to pay $110 for it.
After an hour of meeting, it got to a point where it was just plain ridiculous for me to listen to anymore of what the consultant had to say – he was telling me to put down money for a deposit for one of their off-the-plan developments, as it would surely double in value by the time the project completes. When I challenged him that his statement was purely speculative and that the market conditions are very different now, his reply was merely, "why wouldn't it go up? It has been going up in the last 100 years". How do you reason with someone of this kind of rationale?
I felt that they didn't really have the interests of their customers in mind at all. They were only interested in selling their off-the-plan properties, based on high pressure, wild speculations and misinformation. I simply had to excuse myself and walk away. When I read of how badly other people on this thread have been burned, I consider my $110 to be a cheap exercise in comparison. I really feel for anyone who has suffered financially and emotionally, and it is my sincere wish that they recover from their negative experiences.
Dear El1,
Thank you for your comment. As you have commented anonymously it's difficult to reply in specific.
ParkTrent prides itself on providing research for each individual to suit their individual needs and financial ability. There are different reasons why we recommend certain properties to individuals, and without knowing your personal situation, it is difficult to speculate what the best strategy is for you. NRAS properties don't suit everyone. We market properties for reputable and quality developers at the same price as any other agent and we have thousands of clients who have bought properties off us with outstanding results. In regards to the property market, historically for the last 150 years property has doubled every 7-10 years, yes in the short term it has it's high's and lows however property is a long term investment that does increase in value.
We would welcome speaking with you in person, and are more than willing to refund you the $110 as this is certainly not the perception of our company we wish to have in the marketplace.
Please contact me at your earliest convenience at [email protected].
Hi yes we had a meeting with them about 2 years ago after going to a property seminar they first came to our home then wanted us to go to the office in the Gold Coast. I didn't like them from the start something not quite right but Paul wanted to go and see what they said. Absolutly nothing more than we already knew they charge extremely high fee's etc We walked out of there as quickly as we could as they are no good. Stay well away from them is all I can say. Do your own reseach you do not need to go down this path.
We only started out 2 years ago and are just in the process of finalising our 2nd doing our own reseach into area's etc.
If you go keep your credit cards in your pockets and do not sign anything is all I can adviseJPS25
Ps by the amount of comments removed say's it all
ErinS wrote:Dear El1,
Thank you for your comment. As you have commented anonymously it's difficult to reply in specific.
ParkTrent prides itself on providing research for each individual to suit their individual needs and financial ability. There are different reasons why we recommend certain properties to individuals, and without knowing your personal situation, it is difficult to speculate what the best strategy is for you. NRAS properties don't suit everyone. We market properties for reputable and quality developers at the same price as any other agent and we have thousands of clients who have bought properties off us with outstanding results. In regards to the property market, historically for the last 150 years property has doubled every 7-10 years, yes in the short term it has it's high's and lows however property is a long term investment that does increase in value.
We would welcome speaking with you in person, and are more than willing to refund you the $110 as this is certainly not the perception of our company we wish to have in the marketplace.
Please contact me at your earliest convenience at [email protected].
Erin we did this 2 years ago. It is very high pressurised sales tatics. First they get you to go to a seminar, then they visit you in your home and high pressure you into parting with your cash for a so called in depth look at your financials. I saw through it straight away but hubby decided to go. so we paid and went Gold Coast the next time he was home it was just a joke. saw the same guy again went over the same stuff again nothing I didn"t already know before meeting him. As we didnt like want to sign for their finance their package for this that and the other and wanted independently to do our own we never even got to see or have a financial rundown and to be perfectly honest couldn't get out of there quick enough. You may honestly beleive you are selling a fine product but beleive me park Trent are just sharks that didn't get a bite of us thats for sure
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