Has anyone had previous experience dealing with REIN group Real Estate Investor Netowrk) in Bligh St Sydney?
Any feedback is apreciated.!!!
I have had dealings with them a few years back. I will not be dealing with them again as they were giving out incorrect infoarion about the state of the market to make their sales – such as the market is going up in a particular city when it is actually going down. They also mainly deal with negatively geared properties. Not really the place where savvy investors go to get properties.
ddguevara, REIN are great, they only deal with Positively geared properties, that are very well researched. I have a number of freinds who have been with them for a lot longer than a couple of years and they have consistently had positive returns. An ASIC search will tell you how long they have been going and one of my freinds has been with them nearly that long and has a very tidy retirement fund now.
Yes.. big advertisement in sydney morning herald…
Another spruikers from hell…I bought a property through REIN after their claims and guarantees of rentals and great potential for growth.They rental guarantee gap was extinguished after 6 months. By the way they only preached negative gearing to us.
I am over $100,000 behind in value on the property and have never reached the value or rental they guaranteed after 10 years. I think Meriton also misled the information they gave on the value of the property, future growth and rental to be had. The capital gain forecasts were totaly false. Many people who bought into the same building have collectively lost millions. They hook you in with guest speakers who give believable information which never comes true. The advice we got from their finacial advisor was also incorrect.
They do not say in their seminars we are making enormous commissions on what you buy. An they are actually the sales agents not just advisors.
These people could be consdiered a 100 times worse than Henry Kaye and he ended up in Jail.
This is where they should be as far as I am concerned and I cannot believe they are still in business.
Take my advice you don't want to deal with them unless you want to throw away your future savings.We dealt with REIN and I wish I never posted anything positive about them. While we have not had the issues of TMfuming we are still very unhappy with them. Basically we can confirm that everything TMfuming has said is correct in terms of service provided is correct. The property we bought has not gone up much in value, but that is more to do with markets.
They have no idea in regards to property investment, they are no better than salesmen, they definitely have know knowledge of property investment and are just trying to screw every cent out of you that they can. The financial adviser that they are associated with has no idea. He wanted to move our saving away from an offset account in some Macquarie Bank service that paid a lot less interest than we are saving with our offset account.
They also sell accounting services at unbelievable costs and have ou believe that you need them. For example they charged us $240 each for ITWV and when I looked I realised how easy they are. They only did that to us once. Naturally we went with our own accountant.
Seriously follow TMfumings advice "you don't want to deal with [REIN] them unless you want to throw away your future savings".
If dealing with REIN – do your own homework!!! – I thought I was planning for my retirement and have lost thousands – yes we have had a tough few years but most of the predictions and promises have not eventuated and never will – strata fees through the roof and sending people broke. Rent rises very disappointing and no where near covering the rise in outgoings. Be careful!!!
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