1 reviews | Active since Apr 2021
Property investment gone wrong!
I had made an investment of R200k in March 2021 into a housing project that was meant to be completed within 6 months, it was called 1574 Prestige Park, in August construction had not commenced and i decided they should move my money into a new Project 1527 Prestige Park Villa Liza. (This address on google is still an open land) even today 10 May 2022 According to my contract I was suppose to start earning rental money once the unity was occupied for the next five yrs but the project i was transferred to had not been developed by November 2021. commenced in November as promised. I decided to withdraw from the deal cause I felt that my money was lying in a company and not generating anything for me on November 2021.I was told withdrawal will take 45 working days to be finalized and to get someone to buy my shares. In March 2022 nothing was said to me until I saw accommodation advertised on Facebook by Mr Lebepe the same area I thought I was invested into. When I questioned him about this ,he mentioned that the units advertised are not the once I was invested into.(How come did they not give me a project that has started when I wanted to move my money) My concern in this regard was not that I wanted to get rental money but I was now confused that if I made a withdrawal in November cause I was told construction has not began, how come in January 2022 there was units available for rental ,and I still was still not paid back my money, four months down the line.
I had to get a lawyer to intervene on my behalf because I was getting bible verses instead on my money. I was then paid half in March 2022 and was promised the balance on the 15 April 2022,that never happened. My lawyer had to intervene and prepare summons ,I only got proof of payment of money paid on the 09/May 2022,as i write this message the money had not reflected, I am hoping that it will in a day's time, but this was a horrible bad experience with black owned business.
I had to incur cost to get of this sour contract that i was excited to get into cause i was sold false hope/promises that didn't exist.
To those who invested in the company good luck maybe your experience is better than mine and you are happy maybe my timing was wrong. Imagine moving 200k from an investment that gives 8% return annually into something that gave me nothing instead incurred more cost
