|Parktrent Property Group|
|Parktrent Property Group Ron Cross Over priced investment properties Internet |
|9th of Nov, 2010 by User332170 |
|Most of today's property investor's down-under are more or less all trapped in the same manner. They come under the influence of someone that they believe is an investment property expert. These ?so-called' experts capture the dream of property investors in a number of ways. Usually they make telephone calls offering fantastic personal tax savings; they will usually also offer you a FREE In-Home Consultation with a wealth building consultant; sometimes they will place large colourful advertisements in large daily newspapers or monthly property magazines or they will hold seminars or conference's as they are also sometimes called. Parktrent have tried all of these over the years. They hold themselves out to be the all-round good guys, talking about how they love helping people create wealth in today's market. A lot of these so-called property experts will share 'success stories' with you and Parktrent is no exception. They usually boast about other investors who have bought from them in the past and Ron Cross the CEO of Parktrent has even talked about one person who now owns several properties (i.e. 40) worth several hundreds of thousands of dollars and says that his client only has an income of $40,000 pa from his day job, but his properties they are worth into the millions. They making themselves out to be far richer than any of their investors with the number of investment properties owned. Parktrent even makes a big deal about how they donate money to charities or set up programs for the under-privileged. And, year in and year out, thousands of people fall into the trap and buy their properties that are very over-priced (a profit of around $30,000 to $50,000 per property) and usually they will also offer a guaranteed rental return in order to off set a poor rental return. Oh, don't forget the property management rights that are usually also offered more commission for the sharks. |
Check-out the following:- The Age Newspaper Melbourne Ron's staying positive about the negative Lawrence Money and Suzanne Carbone April 10, 2008 MORE exciting news on property: the Cross Country ParkTrent outfit has hit the Melbourne airwaves with a jingle-jangle radio campaign offering lucky Melbournians "hand-picked" real estate bargains all over the place. Odd though, their website says they want to flog you "positive cash flow" properties, but when Diary phoned, someone named Paula said: "Most of our properties are negatively geared because you get more tax breaks." What the website doesn't mention is ParkTrent director Ron Malcolm Cross's recent bad luck. Ron Cross was given a right old roasting by the NSW Supreme Court's Justice Cooper in a defamation case that ran for six weeks. Cross had sued the Brisbane Courier-Mail for claiming he sold overpriced Gold Coast property, but the beak found in the paper's favour: "This was clearly a case where (Cross) offered to mum and dad investors a property which was exorbitantly overpriced." Cross was left looking at $1 million in costs. So how come he is down here in Melbourne now, offering his glistening property baubles on Melbourne radio?
And by-the-way, don't let Parktrent tell you they operate in New Zealand. ParkTrent Investments NZ was struck off the New Zealand Companies Register in 2002. Many people will live outside the area in which their investment is located and never know that they could have done a lot better with their investment. They may think a gross profit of $100,000 is good but they could have missed-out on a gross profit of $200,000 or more. Easily. Just remember that it takes almost no intelligence to buy property. Any fool can sign a contract on the day, especially when a property expert is telling them that "historically property is a wonderful investment". These property ?so-called' experts have lots of great sounding clichs to encourage you to buy. They'll tell you that it's "time in the market" not "timing in the market" that's important and that the sooner you get in the better off you'll be. Garbage; Timing is one of the most important factors when investing in real estate, but what's more important is the price you pay. Price is very important - as is the location. The golden rule (which you break at your dire peril) is to NOT take advice from an adviser who is selling you the property. And it's astonishing how thousands of investors break this golden rule. Get independent advice (before you sign anything with Parktrent, and do your homework first) and make it subject to finance also and if you want to make the best property investment possible, and then start off by also making one of the best pre-purchase investments - an independent valuation (don't let anyone tell you the bank will do it for you). It'll be the best few hundred dollars you could ever spend. But whatever you do, beware of any or all of the big three signs of a sub prime investment. A big advertising campaign, a slick seminar or a 'personal consultation from this company'. There is no respect for anyone only the greediness of his company for your money.
You might also like to read this also: - scam' by Boss Cost Thousands Illawarra Mercury Saturday December 9, 2006 By PAUL McINERNEY A NSW Supreme Court judge has found that a former prominent Wollongong businessman is a "scam merchant." In a 129-page judgment, Acting Justice Harvey Cooper found Ron Cross had ripped off Wollongong-based employees by failing to contribute to their superannuation. He had also improperly diverted funds before one of his companies, Park Trent Investments, went into liquidation in 2003. In addition, Justice Cooper found Cross had "ripped off mum and dad investors by selling them Queensland investment properties at exorbitant prices". Justice Cooper made the findings on Wednesday after hearing six weeks of evidence during a defamation action brought by Cross against Queensland Newspapers. Cross sued the Courier Mail after it published two articles in 2003 linking him with a property marketing company which was targeting investors from interstate, flying them to the Gold Coast and selling them overpriced properties. Cross told the court the articles had left him shattered, tarnished his character and ruined his business reputation. Evidence was given to the court regarding the failure of two Wollongong-based companies owned by Cross, which went into voluntary liquidation with debts of more than $2 million in March 2003. These included thousands of dollars worth of employee superannuation entitlements. The court heard that Cross bought back Park Trent Investments Pty Ltd and Everest Marketing Company Pty Ltd for $250,000 each following agreement with creditors. It was told Throsby MP Jennie George used parliamentary privilege a few months later to accuse Cross and his daughter Rene of breaking the law and showing contempt by failing to provide proper entitlements to 140 company workers. "The fact is that by failing to pay superannuation for his employees, by failing to pass on the PAYE tax deducted from employees to the Australian Taxation Office, by diverting funds from Park Trent Investments which should have gone to the liquidator for the benefit of creditors, the plaintiff was involved in dishonest conduct which had the effect of ripping off his employees, ripping off the liquidator and ripping off the creditors," Justice Harvey concluded. "The fact that moneys were diverted from Park Trent Investments into other companies was not revealed to Mr Cvitanovic (the liquidator), who described this conduct, correctly in my view regardless of the motivation, as a breach of duty as a director and as a form of larceny," he said. Attempts yesterday by the Mercury to contact Ron Cross for comment were unsuccessful, but he was reported to be considering an appeal to the judgment.
And here is another one. The Courier-Mail newspaper August 17, 2010 Court told Ron Cross real estate firm pocketed commission on inflated unit prices A GOLD Coast property marketing firm allegedly pocketed a commission on the inflated purchase price of units sold to investors, a court was told yesterday. ParkTrent and its then-subsidiary Cross Country Realty used a free seminar and a cheap flight to Queensland to encourage Melbourne investor Robert Weir and his wife to buy a Robina property in 2002, the Southport Magistrates Court was told. But the court was told Robert Weir's bank rejected his first loan application after determining the Lakeside on Varsity unit was worth $20,000 less than the $260,000 purchase price. Crown counsel Andrew Preston told the court that this information was central to the "role and control" of company founder and chief executive Ron Cross. It was indicative of the amounts of commission paid but not disclosed to buyers, he said. Cross Country, Ron Cross and his daughter Kellie Cross each face 38 charges of failing to properly disclose commissions from developers and collectively face a maximum fine of more than $530,000. Start of sidebar. Skip to end of sidebar. End of sidebar. Return to start of sidebar. A proposed deal with the Office of Fair Trading to reduce the number of charges to five each collapsed last week in preliminary hearings. In cross-examination, Michael Byrne, QC, acting for Ron Cross, had Weir acknowledge that ParkTrent was "a professionally run organisation". Yet Weir said the process of reviewing disclosure documents in the office of lawyer Donald Dickie was rushed and over within an hour. "They were going through things very quickly," he told the court. Asked by Mr Preston if he knew who the developer's consultants were, Weir said no. Developer Thomas Van Asperen said his company Baycrown had retained ParkTrent and Cross Country as marketers and real estate agents since 2001. Documents submitted to the court by Mr Preston showed that Baycrown paid a $25,000 commission on sales of units in a Nerang development. The money included a standard agent's rate, with the remaining amount for ParkTrent and Cross Country, the court was told. The trial before Magistrate Michael Hogan continues.
Now, tell me that you would like to deal with Parktrent?
|I've unfortunately had dealings with Park Trent and they are slick, underhand salesmen who are thirsty for their commission - that's all. They offer you high hopes for your investment and then you are asked to sign paper after paper and they whisk them away - you can't remember one from the other - they never give you a copy and then one day after settlement you find out they've added in numerous fees and costs onto the pages you signed. STAY AWAY FROM PARK TRENT - they are devious, underhand and absolutely despicable!!!|
SAY NO TO PARK TRENT
|Yes I would agree, Parktrent are thieves. Bought an investment property in the value of $400, 000 and no sooner was it built and without our knowledge they had people in our property without our consent, we actually found out by driving by it. They had also reduced the rent in which we were asking, again without our knowledge. No sooner the tenants were behind in rent, Park Trent wouldn't evict them even after 6 months of no rent, they kept saying the tenants were making an effort and that all inspections were satisfactory. Well, when we went and had a look at our property there were holes in the walls, carpet burnt, faeces throughout, cigarette butts in the showers, screens pulled out and ripped etc etc. Park Trent's explanation was it must of just happened within the last 48 hours. Of course, insurance didn't pay for all the damage. And now we can't even sell the damm thing for anymore than $280, 000. Park Trent pray on your dreams and shatter them.|
|Stay away from Parktent at all time, and never sign anything as you will find that you will be charged |
$3.000 once your pen hits the paper.Believe me if your not happy and try to pull out of the deal you will not get $2000 back as they claim it's Administraion fees.
Stay away from them Asian slope heads from Melbourne Parktrent as all they suck you dry, and rip you off and not blink a eye.
They lie lie lie about everything.
KARL AND TONY LEE, REMEMBER THERE NAME IN THE FUTURE WITH ANYTHING TO DO WITH MONEY.
|Ron Cross from Park Trent has a long history of ripping consumers off. Do not trust this man he is only interested in lining his own pockets. I know of at least 5 families that Park Trent they have financially ruined and I'm sure this is only the tip of the iceberg. Ron Cross is also very litigious. He will threaten to sue any of his critics and will always claim he is the victim. Classic psychopathic behaviors flow from this man. Just ask any of his staff. Not many of them last long, only family members and the most slippery sales staff. |
STAY WELL AWAY FROM PARK TRENT PROPERTIES. They are scam artists of the highest order!
|I bought a couple of investment properties from Parktrent which I later found out were overly priced.|
We were trying to back out, but Ron told us that we were to pay over $100, 000 if we do. Now we have been wanting to sell these properties but cant. Parktrent said that it will be easy to sell these properties, but up to now, we're still struggling with the repayments.
I need some advise, please. One thing I cant understand is why the bank endorsed to us by Easyplan, (Parktrent's partner in crime) approved the loan. They should have done assessment of the property and disapproved of the loan amount if it was beyond the market value of the property.
|I have recently involved with this ripping off company - they requested to pay a deposit of $ 2995.00|
for a land and house package in QLD. This include applying Loan, Dealing with property developer, Helping construction process and finally finding a tenant for us. This was organized by Ron Cros's assistant Jenny Placek. After couple of week later they rang and said our loan was declined by the bank . I immediately
rang to the bank to find out the reason. Bank said they never declined our Loan Application.
They refused to refund our money in full.
This is clearly deceptive behavior to fill Ron's Pocket.
STAY WELL AWAY FROM PARK TRENT PROPERTIES, STAY AWAY FROM JENNY, SALES DIRECTOR
THIS IS NUMBER ONE FINANCIAL SCAM.
|As an international company we pride ourselves on customer satisfaction. We are concerned with the tone and comments in the above posts. We welcome you to follow our Customer Grievance Policy below immediately;|
PARKTRENT CUSTOMER GRIEVANCE PROCEDURE
Your rights and responsibilities when submitting a complaint.
ParkTrent sees every customer complaint as an opportunity to maintain confidence in its products and services. Listed below is what you can expect to occur if you make a complaint.
If our products or services have not met your expectations or if you have a concern with ParkTrent, we would like you to tell us. You can telephone, email or write to us using the contact details on our website www.parktrent.com.au. Or the Australian freecall number is 1800 652224. Complaints received by email or letter may be initially responded to by telephone.
?We aim to resolve all complaints in a positive and expedient manner.
Where the issues are complex, additional time may be required to allow ParkTrent to conduct proper enquiries. Where this is necessary, you will be kept informed of the progress of the investigation and the expected timeframe for completion.
?Your ParkTrent Customer Service Representative will always provide you with his or her name. You can ask for your complaint to be escalated to a more senior person if your complaint cannot be resolved. That person will review your complaint and discuss the matter with you.
?We aim to treat people at all times with courtesy and respect, and in a professional manner
These standards demonstrate our commitment to best practice procedures and will be continuously reviewed in line with government recommendations.
We welcome feedback from customers and stakeholders on the quality of the products and services that we offer.
Contact our Customer Service Team Direct on;
Customer Service Manager
Phone; +61 242252440
Email; [email protected]
|Absolute corporate lies. All people who reported scam have gone through all telephone calls and emails.|
Emails and telephone calls are simply ignored. After receiving your money their attitude changes. customers request refund threatened by legal letters. No more dealing with this company.
|I do agree with every one who report this scam. These peoples are working behind an old car yard.|
Intention is to cheat and fill their pockets. Never give any money to this organization.
|I am Ravin Ram and I have requested to withdraw my comments from this website and my|
sincere apology if this is caused any uncomfort to any of the personed named. I intention is to
report what is happened and not to personally attack any one.
|Keep away from this company all the posts are correct. I worked for the former liquidated company. Google Ron Cross & Nissan another loss to Wollongong people through car purchase. The sister runs easy plan finance & they encourage you use their solicitors.|
STAY CLEAR OF Any PARKTRENT company
|Currently under investigation for Fraud, Deception and Misconduct. Please Lodge a complain to|
Australian Securities and Investment Commission( ASIC).
|I have recently finalised a purchase with Park Trent and it hasn't been without grief. I thought of going down the path of bankruptcy just to be rid of this property. Like many before, slick sales people who get you to sign a myriad of paperwork, lock you in. Also had the misfortune of dealing with Easyplan financial services, who attempted (according to my solicitor) to defraud the lender I was dealing with. Constant requests by myself and my solicitor for responses in writing for loan applications that were unsuccessful, no paper trail. Shocking service and only through my own disclosure to the lender did the loan actually proceed. All valuations fell well short of the selling price and as soon as you mentioned that you might need to look into putting the property back into the pool to re-sell (which I was assured was a possibility before signing on the dotted line) as you couldn't raise double the initial deposit - they just conveniently forgot to follow that option up. Nil response to the vendor finance query, nil responses to any queries really. Can't wait until the market picks up at some point in the future to rid myself of this property.|
|KARL AND TONY LEE from Melbourne will scam you and not blink a eye.They will get whats coming to them in time when they come across the wrong people.|
Remember there names people.
|Has anyone been scamed by Parktrent this year in 2013??????????|
Please dont anyone get sucked in like we did and destroyed our lives and family.
Karl And Tony Lee from Melbourne, i dont know how they sleep at night doing what they do to everyday people who are trying to get places in life.
Please let me know how everyone is going.
|My best friend came to my place and share this investment about using the equity of their home loans, the investment property located in SA, the sales pitch "guarantee rental income" and he gave the company name ParkTrent- I google this company which is registered in ASIC however I have to investigate more if this company are legitimate and trustworthy. I am happy that I stumble on this blog, they are organising seminar this month in NSW, Campbeltown in Oct 23, 2013 selling this investment property. I warned my friend but he's already been brainwashed but this slick salespeople.|
|Parktrent- seriously where do is start about them. I rue the day i took a brochure about them. Never again. Their dishonesty knows no bounds. They took a lot of money from me and told me to my face that if i used the three day cooling off period, the money would be returned to me, only thing is it never did. Now my only option is to start lengthy court proceedings, which i am going to not just to have a chance at getting my money back.|
This company seriously needs to be exposed at a national level for what they are - cheats of the lowest order.
|Hi there, I'd like to talk to people about these complaints. Can you please email me on [email protected] |
|Hi Suzanne, |
If you are still interested, i would like to get in touch with you regarding Park trent. Please reply back via this forum.
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