Real estate store

e real estate group not a real investment company
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ID
#1406117 Review #1406117 is a subjective opinion of poster.
Location
North Sydney, New South Wales
Reason of review
Bad quality
New Reviewer

Lost half my capital and rental yield. CAUTION CAUTION FROM IRONFISH

Hi Guys, I'm a property investor and now through educating myself my core business is I do small scale property development. The reason for my brief is that I bought an off the plan apartment in Brisbane from these agents and all I can say is they do not look after your best interest when you buy property off them, they solely look after the best interest of their friends and they are there developers. You will lose your hard earns capital like I did and it hurst. The Rea search talks about your property will double in 10'years. What a load of *** I WARN you to stay away from these people. Get your self educated from either self education or someone reputable that are not bean counters like ironfish.
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1 comment
#1601365

We are so sorry that you’ve been so disappointed with your experience investing with us! Please be assured that while we may operate under a real estate license, we measure our success by the success of our customers and this has been instrumental in helping us to have so many repeat or referred customers over the last 12 years.

So we are particularly sorry to hear that you feel this has not been your experience!

We’re sending you a PM now to get your phone number and some more details – e.g. which branch etc so we can follow up on this for you.

ID
#1335832 Review #1335832 is a subjective opinion of poster.
Location
Burwood, New South Wales
Reason of review
Spruikers
Loss
$250000
Preferred solution
Full refund

Avoid Iron Fish

I bought a 1 bedroom apartment in QLD in 2009 from Iron Fish for 350k+, 7 years later, that apartment not even worth 350k. Rental return is just able to cover interest (for a 80% loan) and you need to out-of-pocket for all other expensive. Price seen will not increase for foreseeable future... Worst investment decision I ever made...if I spend that money to any unit in Sydney in 2009, it will worth over 500k for whatever location. Avoid this scam company at any cost.
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1 comment
#1648262

For the do with Iron Fish- If you can be bothered listening to their lecture they will portray investors that are rent driven yields and not capital gains. For the don'ts, well there is too much to talk about.

Firstly, buying off the plan will mean you would be paying up to 5 years worth of depreciation upon the purchase price. A property in Australia depreciates at 2.5% per year. If you pay $500,000, expect Iron Fish to be overcharging by $75,000.

They will sell on the notion property prices are rising which is a load of *** as all these guys sell are apartments and townhouses. Unless you want to be giving your hard earned cash to these wan***s then go for it.

ID
#761424 Review #761424 is a subjective opinion of poster.
Location
Bowen Hills, Queensland
Reason of review
Over Price Product
New Reviewer

Ironfish | DO NOT Purchase Off-the-Plan Investment Property from Ironfish Australia and China | Ironfish Reviews

The Ironfish Group - Ironfish | DO NOT Purchase Off-the-Plan Investment Property from Ironfish Australia and China | Ironfish Reviews
Update by user May 05, 2015

By Paul Elliott, Sydney.

Original review posted by user May 05, 2015
I bought a one-bedroom apartment from Mr Joseph Chou's property company off-the-plan in 2003 for $428,000. The location looked very good and it was waterfront property -- I ticked all the boxes from that point of view. I later discovered the property, in Rhodes in Sydney's west, was situated near a toxic industrial site, which was "very noisy" and emitted a "horrible smell". The property that year was valued at between $375,000 and $395,000. The developer had failed to disclose that the property was next to one of the biggest toxic waste sites in the southern hemisphere and it would be under remediation for five years. DO NOT purchase any property from Ironfish (亚太集团) in Australia or China. I had friends later purchased off-the-plan from Ironfish (亚太集团) in Australia and China and paid 10% upfront for the initial stage. The second 10% to be paid upon settlement when the project complete. On the settlement date, the valuation from banks came in 10% - 15% lower - even the properties were located in good and central location (CBD). The properties sold by Ironfish (亚太集团) are definitely over-priced to cover their commissions. Since then, it has been a trend that most Off-the-Plan properties sold by Ironfish would drop between 5% - 15% below purchased price by the time the off-the-plan property is ready for settlement. Be very cautious before attending Ironfish's (亚太集团) seminars or approached by Ironfish (亚太集团) strategist and sales consultants.
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14 comments
#1519145

Ironfish is the worst even in Melbourne they are selling doggy projects. They also do not pay staff properly running them on commission only agreements which is an illegal practice.

#1200545

DO NOT BUY ANY PROPERTIES, ANY OR ATTEND THERE SEMINARS, EVEN IF ITS FOR FREE. DO NOT WAIST YOUR VALUABLE TIME ON THESE CREATURES!!!

#1181759

Ironfish is good for selling fish. Fish those people hard earn money. sad

#1164734

Stay away from this company, I bought a QLD apartment from them in 2010, 6 years later, market price still not able to reach my purchasing price, even I put another 10% discount still no one asking for it!

#1132396

Stay away from Jason Jin and Chirag from Ironfish St Kilda too. I bought few properties from them and all of them were below valuation during settlement.

None recover until now. They are all suckers!

They make you suck up all their lousy properties and make 5% - 8% commissions each deal. Stay away!!!

#1519147
@PissedConsumer1132396

Agree David , Jason Jin is a total dog but it’s going to catch up with him very soon. Even rips off his own Chinese community.

#1131678

Never buy property from Ironfish, Stay away from agent call Lionel. I bought the property from him, Valuation came 50,000 low after 10% was already paid.

I again did valuation to sale the property after market boom, Still the property value is 50000 low after 1 year .

Please stay away from this Company and agent.

#1140005
@PissedConsumer1131678

Lionel D'Cruze is none ethical, I have lot of proof against him.

Also he recommend Provida Financial Services as advisor to play safe games against customer. Please stay away from these companies.

Same here still after boom, property value is 50k down.

#1102557

Ironfish is worst non-professional group.

Please stay away from their sales department. I bought one

and now I am in fully debt. No ethics.

#1023727

I bought not only one investment property from Jason Jin but few more over the next few years. After my first purchased of an investment apartment in the city, Jason would introduce me to add new properties to my portfolio on every new property launch.

He projected that the city land are scare and limited in stock and prices would increase.

Every apartment that I bought from Jason Jin went below valuation during settlement. Few years have passed and my properties prices still do not increase.

It is true, don't trust Ironfish's agents - they have not ethics!

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ID
#631119 Review #631119 is a subjective opinion of poster.
Location
Hong Kong, Hong Kong
Reason of review
Poor customer service

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