Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Platinum Properties Group

EdRenkema

0
Registered
Joined
Sep 18, 2007
Messages
1,230
Elisabet,
I am researching EQB now, thanks for the post. Where are the properties you purchased? I`ve looked at their portfolio and one concern is the towns/cities where they are invested - some are a little off the beaten path and may underperform as far as appreciation. The hands off management and low fees is certainly attractive. Please feel free to PM me as I am trying to form a group to meet regularly that is interested in investing in Hamilton area.

Ed R
 

brightdreams

0
Registered
Joined
Dec 6, 2007
Messages
72
Its been two years now i have invested with this group but my experience is not positive. Nothing is what they told me when they sold the project. My cashflow is considerably down compared to what they told us. Condo fees gone up (poor funding by the developer), i am being charged repair charges by the management company which is suppossed to be paid by developer as my units are not renovated. They promised to pay it back after i consistantly fought but still waiting to be paid. Renvation is still pending and we don`t know when it will be done and to what extent.

I will not recommend this group to anyone. Anyone invested in their project has same experience?
 

21krunner

0
Registered
Joined
Nov 25, 2008
Messages
18
There are/were a couple outfits using the same hands off business model in Ontario. To summarize

Freedom Financial - went out of business, had at least two developments, Essa Rd in Barrie and complex of about 100 reasonable looking townhomes in whitchurch-Stouville if I recall. I have always wondered what current owners did about property management etc after they folded.
Diversified Business Group - website gone so I assume they are no longer in business. Had half a dozen investment campases. the claimed to focus on secondary / tertiary cities feeling that baby boomers would be ruralizing to capture equity as they down sized. I don`t know about most of there deals but there was one in Hawkeburrys (Ottawa River Valley) that I have inferred may not have worked out because I noticed quite a few of the units showed up on MLS. At onme point I think there were 6 or 8 for sale at once
Equity Builders - Well polished marketeers selling to the mass market (ie low entry costs). This company does seem to have some staying power as they persist even as half there peer group has folded. I think many owners have had at least one cash call if they have owned more than 2 years. Currently trying to package deals for there investor group from Florida. Perhaps they feel Ontario all sold over.
Tulsani - Disappeared??
Montblanc - I think part of a larger property management company. Half a dozen properties mostly in Ontario I believe. They have an interesting lease back arrangement in which they gaurantee a monthly income for use of the suite. Have not missed a payment to me yet.
20/20 - Changed name to Strategic --something- - Still in buisiness but most operated in Western Canada

Interested parties can PM me if the wish more info on EQB or Montblanc as I had purchased from both.

My recommendation is that use of these companies might be a good entry point. But investors will leave something on the table in each case. Eventually those wishing to increase holdings or become full time RE investors will look to go it alone or use some other mechanism. It is kind of like owning a franchised business. Owners will feel they are getting good value initially but eventually after they have learned the business will come to resent the points they must send to the owner etc.
 

jarrettvaughan

0
Registered
Joined
Sep 18, 2007
Messages
267
That is very interesting. I decided not to invest with Platinum and am now very happy with my decision. Purchasing on my own was a great move, in hindsight.
 

reinvan

0
Registered
Joined
Apr 15, 2009
Messages
4
Hello Brightdreams,



I had a similar experience to yours, with Platinum Properties Group. Broken promises, and huge losses.

Wouldn't recommend them either.

Am wondering if there are others out there..
 

bjcjapan

New Forum Member
Registered
Joined
Dec 19, 2020
Messages
2
Hi all - does anyone here have more recent experience with Platinum? We are looking to access their Equity Builder program for the purposes of pooled property management at a discount, as we have already purchased a property from them directly via our own financing. Any recommendations or warnings at all? Thank you1
 
Top Bottom