I believe there is bad blood between raine and horne and ps.
Ps works with rnw rooty hill now.
Property Secrets on Today Tonight
- Thread starter nhg
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I believe there is bad blood between raine and horne and ps.
Ps works with rnw rooty hill now.
Or there's a summary
Really?
My understanding is that they don't actually have all that many, despite the vast amounts of money they made. In the interview, he made mention of having 24, I think it was.
Now.....rewind 10 or so years, maybe more, my memory is a bit sketchy. Hubby & I met him at his house. Hubby met him through some work function or other. Anyway.......we go inside, & he's telling us about what he's working on - the whole Property Secrets thing - and shows us some of his 'fantastic' deals that he's purchased in the area. This is his own personal stock, mind you. There were a handful more than us, as I recall, and the way he was talking was as if he was some super investor. You know, that we'd be impressed that he had so many. Well.....um.....no.......not that impressed. You have a few more than us, you paid more than we would have paid for any of them AND you did this on at least double our income.......so.....no! Not that impressive. Of course, we didn't say that out loud.
He was already a Buyers Agent, working the area, but he was working out how to get more $$ from the area. Doing reno's & project managing them. Cookie cutter stuff! He mentioned that he targets those in the city on big incomes, so the prices out west look really cheap, and the price tag of the reno would seem affordable.
Still to this day, I can't recall the reason he wanted to meet with us. I'm not entirely sure, but think he was looking for someone to come on board with him & vaguely recall some discussions of this. While it was very interesting, it wasn't something that sat well with either of us, so left it at that.
I had a property that was managed by Raine & Horne St Marys that I recently sold. Property Secrets bought the property for me in 2010. I’m one of the lucky clients who sold out and made a small profit as the market has moved up however I had a lot of dramas trying to develop. I was advised by Paul Giezekamp that this property he suggested I bought I could put 4 townhouses however I found out later I couldn’t develop the block. The agent Paul bought it off explained to me how he told Paul it couldn’t be developed as it was on the wrong side of the street. That was so wrong I paid $8,990 to purchase plus I paid $6,990 for them to handle the granny flat process that took 9 months to do!
When my property was managed by Raine & Horne St Marys I was advised that they pulled the pin on Property Secrets in June 2012 as it un surfaced that he was received referral payments from the builder, conveyancer, tax deprecator anywhere he could but only disclosure the Real Estate agent referral to clients. I was also told an employee was suing Paul for defamation and was told that person won the case and Paul had to pay big money and send an apology to Property Secrets clients previous and current. (I received one)
From here I contacted Fair Trading and now have a direct contact name that I signed a statement with and provided all my documents. I was told by them that Paul is no longer the director but someone with the name called Harry Giezekamp is. The inspector advised me Paul has gone into voluntary administration but is still operating to avoid all the claims through the CTTT however I might not be able to get my money back but Paul could be accounted for what he has done.
I purchased my first property through PS. Same thing, was told I could build on it but it is a nightmare to get it through council atm.
PS contacted me, not the other way around (heard of me from Raine and Horne), and I was pretty keen to get started at the time. Price seemed high but was convinced otherwise. I only found out later that he was getting paid by Raine and Horne as well. Fortunately rising market has made me a small profit.
I took these as my own DD issues and have taken it on the chin and learnt from it (and learnt well).
Every time I mentioned a dodgy buyers agent in the area on Somersoft, I received a PM asking who, and then my response was quickly followed by a CHECK UP call from PS asking if they could help, offering their project management services. I took them up on it a couple of times and followed it up, but they would vanish I'm assuming after they realized it wasn't an easy fix.
PS contacted me, not the other way around (heard of me from Raine and Horne), and I was pretty keen to get started at the time. Price seemed high but was convinced otherwise. I only found out later that he was getting paid by Raine and Horne as well. Fortunately rising market has made me a small profit.
I took these as my own DD issues and have taken it on the chin and learnt from it (and learnt well).
Every time I mentioned a dodgy buyers agent in the area on Somersoft, I received a PM asking who, and then my response was quickly followed by a CHECK UP call from PS asking if they could help, offering their project management services. I took them up on it a couple of times and followed it up, but they would vanish I'm assuming after they realized it wasn't an easy fix.
David Dorian went Bankrupt
As i didnt have much time and lived Interstate i left everything to Property Secrets as i was told by Paul that he has done this 100 times over for clients.
The only positive out of the total experience im glad i had Raine & Horne on myside and helped me through renting the property and selling it for more then i expected. I spoke to the owner of the business an older person saying he owned the company for 40 years and he explained when he heard from clients that referrals fees were paid without clients knowing he pulled the pin on any new business from Property Secrets. He did disclose it was like buying a rent roll and paying for it but the person receiving the benifit in this case Property Secrets needed to advise there clients. I was aware that Raine & Horne paid a fee as i signed a disclosure but i didnt no that a hidden fee of $7K for my granny flat to be built + $5K for my renovation was paid by the builder. Later i spoke to the builder who is now suing Property Secrets an he explained how the builder would pay the fee out of there profit but again the builder though this was disclosed.
To me its so dodgy yes i should of done more reseach but why do you pay for so called professionals to look after your affairs, they should be looking in your best interested not there pocket.
The only positive out of the total experience im glad i had Raine & Horne on myside and helped me through renting the property and selling it for more then i expected. I spoke to the owner of the business an older person saying he owned the company for 40 years and he explained when he heard from clients that referrals fees were paid without clients knowing he pulled the pin on any new business from Property Secrets. He did disclose it was like buying a rent roll and paying for it but the person receiving the benifit in this case Property Secrets needed to advise there clients. I was aware that Raine & Horne paid a fee as i signed a disclosure but i didnt no that a hidden fee of $7K for my granny flat to be built + $5K for my renovation was paid by the builder. Later i spoke to the builder who is now suing Property Secrets an he explained how the builder would pay the fee out of there profit but again the builder though this was disclosed.
To me its so dodgy yes i should of done more reseach but why do you pay for so called professionals to look after your affairs, they should be looking in your best interested not there pocket.
Yes, haven't you? It's amazing what PS can do with their clients properties Geoff!
I took jaspn for a drive around 2770 and showed him all the lovely same colour houses. There were heaps
Thanks
Dear All,
I have been reading quite regularly the advice and guidance provided by pro's on this forum.
I also undertook the journey of financial freedom through property investing since past 5 years. Happy to share my "lessons learned" at some other stage.
Since I was tired on doing "Buy & Hold" strategy. I was actively evaluating doing reno or sub-divisions as next step of value creation. I was actively considering Property Secrets as an option; Although the no's did not make sense to me.
Anyhow Thanks for calling thing they way they are. I would rather learn from others and make different mistakes.
Regards
Dear All,
I have been reading quite regularly the advice and guidance provided by pro's on this forum.
I also undertook the journey of financial freedom through property investing since past 5 years. Happy to share my "lessons learned" at some other stage.
Since I was tired on doing "Buy & Hold" strategy. I was actively evaluating doing reno or sub-divisions as next step of value creation. I was actively considering Property Secrets as an option; Although the no's did not make sense to me.
Anyhow Thanks for calling thing they way they are. I would rather learn from others and make different mistakes.
Regards
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