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Dream Design Do

Discussion in 'Property Experts' started by larrylarry, 26th Aug, 2015.

  1. Sonyad

    Sonyad Active Member

    Joined:
    14th Jan, 2017
    Posts:
    25
    Location:
    Sydney
    Thank you melbourinan,
    My exact sentiments from my observations
     
    Last edited by a moderator: 18th Jan, 2017
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  2. StockholmSyndrome

    StockholmSyndrome New Member

    Joined:
    22nd Jun, 2015
    Posts:
    2
    Location:
    Sydney
    Thanks Melbournian. These are great insights.
     
  3. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,235
    Location:
    Brisbane
    This can't be new..
    I remember an article (I think it was a propertyupdate.com.au article).. Where the authors warn Mexicans of blind buying in south East Qld (I think the author pointed to login in particular) either by themselves or via agents...thinking that (presumably without adequate further analysis-themselves and/or agents ) Logan and indeed most of SEQ will have a widespread and uniform growth like it's opposite numbers in Sydney.
    Hasnt happened till date..and doubt if it will happen in the next 2-3 years.
    Read the hype Brisbane threads to see the underlying themes contributed by various posters. It's an old thread. The accuracy of those themes and foresight of the posts is what has kept it going till date.
     
    Last edited: 18th Jan, 2017
  4. Sonyad

    Sonyad Active Member

    Joined:
    14th Jan, 2017
    Posts:
    25
    Location:
    Sydney
    Please se
    copy of whirpool reply on same day;
    Hi everyone
    In response to lians comments,I have had following phone conversation with her last Thursday at 9.38am when I asked for my phone conversation to be emailed. I have followed up with a prompt reply and have am now corresponding with Zaki as he was ccd and replied
    I also called lain twice before phone conversations within the day leaving saved voice messages.
    It's very interesting lian is trying to discredit me when I when there are strong claims being made against DDP not just by myself on sites.

    I have reasons why I have gone to reviews ;
    - I believed in DDP due to your property story you advertised.
    - I continued with the second property as it was presented to me as a zoning option that was meant to be checked with the council and wasn't.
    - When I found the zoning option was not valid and thus didn’t met my criteria I lost trust in DDP.
    - I began to review my property portfolio and found other unbiased public data about the sourced area, which has made me lose my trust altogether.
    - Due to the issues I have experienced with these properties, and what they have failed to provide, ( this can impact the investor long term) putting a post to make others aware in my opinion is reasonable.

    it due to the massive trust I lost with DDP after seeing not one two properties I purchased,in my experience fail.
    For something so serious and long term as property. I want to seek resolution and inform people in principle, my experience.
    The testimonials and YouTube were at the start of the DDP journey prior to what I uncovered as mentioned above , I would prefer they be removed in lieu of my experience.
    as mentioned in my other post, I am replying to zaki by end of day
    Regards
    Sonya
     
  5. Sonyad

    Sonyad Active Member

    Joined:
    14th Jan, 2017
    Posts:
    25
    Location:
    Sydney
    Hi All, 
Been getting some interesting defensive examples from the DDP founder which I haven't received after two properties ;

    Please see my reply
    
Hi Sonya
    Below clients have purchased in similar areas with the below bank valuations that have 10% variance;
    James 
Contact number:
    
Purchased August 2015 (Ipswich council)
Purchase price: $248,000
Rental income: $300 per week
Valuation after 12 months: $275,000 (as attached)
Growth: 11%
    Matt 
Contact number: 
Purchased March 2016 (Logan council)

    Purchase price: $315,000

    Rental income: $340 per week 
Valuation after 6 months: $330,000 (as attached)

    Growth: 5% in 6 months,
    consistent with estimate of 10% per annum
    Donovan 

    Contact number:
    0l
Purchased July 2015 in (Logan council)
Purchase price: $266,000
    
Rental income: $320 per week
    
Valuation after 12 months: $309,855 (as attached)
Growth: 16.5%!!!
    Benny

    Contact number:

    Purchased first IP with DDP in July
Now on IP3 in 6 months!
    Hi Zaki,
    Please see my comparative results compared to your previous email ;
    Sonya
    
Purchased July 2015
    Logan central 12 reading street
    
Purchase price: $282, 000 

    Rental income: $300 per week

    Valuation August 2016 : $285, 000 ( valuation attached again,same valuation

    emailed, to you last Tuesday 17 January 2017)
Growth: 0.01%
    Sonya
    
Purchased December 2015
    Logan central 10 reading street
    
Purchase price: $286, 000 

    Rental income: $320 per week ( same rent as 
Valuation August 2016 : $290, 000
( valuation attached again,same valuation

    emailed, to you last Tuesday 17 January 2017)
Growth: 0.01%
    Regards 
Sonya
     
  6. Zaki Ameer

    Zaki Ameer Founder - DDP - Dream Design Property Business Member

    Joined:
    22nd Jan, 2017
    Posts:
    3
    Location:
    Sydney
    Dear Property Chat Community,

    My name is Zaki Ameer, the Founder of DDP.

    I have noticed concerns raised that have intensified over the past 90 days.

    I wanted these clients to rest assured as I have personally taken over any clients that have concerns with DDP's product offering/service.

    In relation to the 2 clients:

    Ben, Sonya,

    I have spoken to Ben to settle his concern and we have both agreed to the requests and pending payment being acknowledged to Ben.

    Sonya – I am personally handling this matter which the claim was provided to us on January 16th 2017 and have requested to allow me 14 days to thoroughly investigate the concerns raised about the two properties that were purchased in 2015 and 2016 that have not gone up in value and also the concern regarding zoning's of the two properties..

    As some may know, DDP was founded due to my success in building a property portfolio. It took me near 7 years to see any significant value increase in my properties and I myself have had ups and downs with my properties purchased. I also used services similar to us and had my fair share of downs. However looking back over the past 10 years the ups have now outweighed the downs. The model behind DDP is to mitigate the downs I experienced in building my own property portfolio.

    I ensure my personal interests in property are kept out of any client purchases within DDP and handled personally. Any staff that purchase properties in similar areas using our networks or relationship have paid DDP for the service .

    We encourage our staff to purchase and build a portfolio like myself to have practical experience when advising clients. Similar to other employers offering their services within the company.

    My passion for DDP was to share my knowledge and wealth in property and to see others succeed.

    Thus my course of action, when I noticed the recent concerns , was to take over all client queries personally and implement changes within the company to strengthen DDP's product offering & level of service provided to our valued clients.

    From what I can see – approximately 1056 properties have gone through for our clients and I am a perfectionist and I want ALL my clients to be happy.

    Anyone who would like to get in touch with me or raise any concerns, please send me a message via our website or email me with your contact details so I can be in touch.

    Kind Regards,
    Zaki Ameer
    Founder – DDP
     
    Simon Hampel likes this.
  7. Zaki Ameer

    Zaki Ameer Founder - DDP - Dream Design Property Business Member

    Joined:
    22nd Jan, 2017
    Posts:
    3
    Location:
    Sydney
    For the Property Chat community, I requested a few examples from the team on recent client purchases.

    This is in no way or form to disregard Sonya claim as that is being investigated personally on her 2 properties that she did purchase but to however highlight a few results have been obtained from clients.

    We not only rely on our own research on areas we pick but from property experts who are respected in the community to make informed decisions on future growth hotspots.

    James
    Contact number:
    Purchased August 2015 (Ipswich council)
    Purchase price: $248,000
    Rental income: $300 per week
    Valuation after 12 months: $275,000 (as attached)
    Growth: 11%
    Matt
    Contact number:
    Purchased March 2016 (Logan council)
    Purchase price: $315,000
    Rental income: $340 per week
    Valuation after 6 months: $330,000 (as attached)
    Growth: 5% in 6 months, consistent with estimate of 10% per annum

    Donovan

    Contact number:
    Purchased July 2015 in (Logan council)
    Purchase price: $266,000
    Rental income: $320 per week
    Valuation after 12 months: $309,855 (as attached)
    Growth: 16.5%!!!!

    Benny

    Contact number:
    Purchased first IP with DDP in July
    Now on IP3 in 6 months!

    The above clients have given us consent if required to speak to them regarding their property portfolios.

    Kind Regards
    Zaki
     
  8. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    1,988
    Location:
    Sydney
    Actually, that is exactly what they should do - if someone is expressing dissatisfaction with a company on social media they are either: A) being malicious and their assertions (if false or misleading) should be challenged by the company, or B) expressing frustration that their genuine attempts to resolve the situation have gone unanswered or unsatisfied, in which case the company should be engaging to try and rectify that.

    If someone has posted their story on social media, it is already in public - the company should be able to respond to those matters already made public or if other relevant information was omitted (but is private in nature), then they can at least discuss those issues in general terms to explain their side of the story. At worst they can offer a means to engage with someone directly at the company to try and resolve it in private.

    In this particular case, the issue I had was that the first two people who signed up did not identify themselves as being representatives of the company and at least one of them made threatening posts towards our members. That is NOT how to engage on social media. Company representatives must be open about their affiliation - otherwise it appears to be astro-turfing, and joining a forum to threaten defamation is going to achieve exactly the opposite of what they are seeking to do (silence the critics).

    FWIW, I have now deleted those earlier posts - they added nothing to the discussion and only served to discredit the company they were trying to support.

    I don't have a problem with Lian's posts other than he should have openly declared his position with the company (it was directly implied from his posts - just not explicitly stated).

    Of course, as administrator, I do get to see full details of users when they register and can see when they're using a company email address - but other users don't have that benefit, so it should be made explicit - even just a "Hi, I'm Lian from DDP" at the start of the first post would have done it.

    But this is all moot now that Zaki has posted anyway - this is exactly what I encourage companies to do when discussed on the forums - well done Zaki.

    Hopefully we can keep this thread on track now and I hope all parties can come to an agreement or arrangement and move on.
     
    Last edited: 24th Jan, 2017
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  9. Samm90985

    Samm90985 New Member

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    29th Mar, 2017
    Posts:
    1
    Location:
    Bondi

    I had unexpected family issues, my partner lost his job and contacted DDP for a refund. They didn't care and didn't pay up.

    Unfortunately we had to sell our property to catchup to your finances due to hardship and Zaki and his team didn't care.

    I would not recommend their services to anyone.


     
    Last edited by a moderator: 29th Mar, 2017
  10. Mr Dabolina

    Mr Dabolina Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    153
    Location:
    NSW
    I think you summed it up well...(my experience was also not very positive although I was experienced enough to not accept anything less than a good deal) - this was in the early years of ddp) but as you pointed out as the business grew and more "grren" investors jumped on-board, it became less about quality service and more about making the numbers i.e. sales!
     
  11. Zaki Ameer

    Zaki Ameer Founder - DDP - Dream Design Property Business Member

    Joined:
    22nd Jan, 2017
    Posts:
    3
    Location:
    Sydney
    Dear Samm90985;

    I have sent you a private message so you may meet me directly to resolve your concern.

    As mentioned in the message, the DDP consulting services are under an agreement in which terms and conditions are listed on. We of course vary terms depending on the clients situation and circumstances.

    For the public record that can also be given under oath, we have refunded $1.48 Million Dollars to date of our consulting fees back to our clients for various reasons which may result in not being able to obtain finance for a property, financial hardhsip on a case by case basis.

    Kind Regards,
    Zaki Ameer
    Founder - Dream Design Property
     
  12. gach2

    gach2 Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    267
    Location:
    sydney
    @Sonyad
    I have no connection with DDP or support buyers agents all

    But from what i hear your complaining that the property he bought you is a dud because it hasn't grown to your expectations. I dont think its entirely DDP's fault. They cannot guarantee growth as its base on the market. Also remember the valuation you had done was not because you sold it. (I wouldnt be suprised if each house is worth atleast 300k if you put it on the market. You seem pissed that DDP exaggerated what was going to happen and you bought it. There in sales and thats there job (REA will also do this to u).

    Yes your right if you had bought in sydney you prob would have been better off. I dont know your situation (what you could afford etc) but in mid 2015, 550k would have bought bought you a house in a suburb with similar/slightly better socio economy. You prob would have had lot less yield though which again may have limited your buying power (again i dont know your financial situation). Also back then a lot of this forum was stating that Sydney is bound to doom and why invest in Sydney (and also encouraging cash out in Sydney and buy multiple in Logan).

    Moving forward - i think you have a great portfolio (its actually quiet similar to mine - except i never engaged a buyers agent). Im sure your Lemeuh property is doing well. Your Logan properties have probably done a lot better than you think. Had a quick look (yea the houses arent exactly desirable but they do the job for the area) and from what i see you have 1488m2 of land combined which is 12m2 short of logans rules for subdividing into 3 blocks (you would have a good chance of getting it through). If you were handy could probably get it subdivided shift the houses into right place, raise build and under and have the granny flat approved and sell the vacant lot (requires a lot of effort which you may not want to get involved in)

    Either way good luck
     
  13. ps9589

    ps9589 New Member

    Joined:
    20th Mar, 2017
    Posts:
    4
    Location:
    NSW
    Hi Everyone, I have had the most stressful and negative experience with DDP. My honest account of my experience is as below:

    I signed up with DDP in 2016 paying a fee of AUD 13,900 for a purchase of a house in the range of AUD 300,000-400,000. As this is well over the industry benchmark, I was brought to believe that DDP’s service would be exceptional and would make the buying experience stress free. However my experience with DDP has been extremely stressful and is provided below:

    1) Initial Sales Pitch: I was led to believe that DDP would be able to source positive cash flow properties in growth areas at prices which were well below market rates, thus making up for the high fees DDP were charging. My initial remit to DDP via an email dated 6/28/2016 (even before signing the contract), with Subject Line “Initial Criteria for property selection - to be ratified as feasible by DDP” was

    "The property

    1) should be a positive cashflow property (before applying tax deductions) Should have a high rental yield and I am open to dual residency houses.

    2) should have a large land area

    3) Total cost of acquisition including stamp duty and any fees, charges and services requires should be under AUD 400000 - Should be the right property for the area for attracting a family as tenants.

    4) should be close to (< 1km) from transport (preferable the train station) and supermarkets and schools

    5) Should be bought under value

    6) Should be checked thoroughly for any long term issues in terms of legal or structural problems.(also flood, fire areas, cyclone areas should be avoided)

    7) Should be in an area with high expected growth and low vacancy rates."

    DDP's response via Email on the same date was:

    "Yes by all means, I have confirmed with our Property team that we can find something that will tick all these boxes.

    Just about all our properties fit this mould, with the exception that sometimes we will pick property up above 400K.


    The above criteria is basically the same criteria that we would work off anyway.”

    Thus trusting in these words, I went ahead and signed the contract with DDP to be my Buyer’s agent.

    2) My Actual Experience:
    • DDPs calculations to check the gearing of the property often included inflated rent values, did not consider possible periods without rent (which other buyer's agents factor in their calculations) or used lower values for other charges.
    • The expected buying price proposed was not below market value. In fact when I did my own due diligence, most times I found the property was listed at the price that DDP was proposing to buy it.
    • None of the properties that I checked met the proximity to transport remit from my email.
    • The properties proposed were in the general area of south east Queensland. All recommended properties were sent with the positives of buying in that area, which was common knowledge available in the public domain. At no time was a comparison done to indicate why I should buy in one suburb over the other, while other buyer's agents even go down to street level preference for their clients at a far lesser fee. The experience seemed to me as if whatever the customer picks from the stock sent will be sold to the customer as the best buy by DDP.
    • The criteria provided by me before signing the contract have not been adhered to in my opinion.
    • The first property that an offer was put on was indicated by DDP as a 2003 build which was a key reason why I picked it, expecting it to be low maintenance than older properties. DDP’s proposed price was $360,000. I was shocked when I received the building and pest report which compared the property with properties of the 1970s. On visiting the property personally, it was evident that the property build year was more 1970-1980s and there was quite a bit of repair and maintenance cost that would be required. On asking DDP to negotiate based on these points, I was told that AUD 360000 is the best price even though the property was 20 to 30 years older.
    • Also, the DDP estimated rental range for this property was AUD 390-410 per week. On querying the property agents on site, they clearly stated that the range was AUD 350 to 370 per week and they won't be able to get more than that, which made the property severely negatively geared further. This also indicated to me DDP’s lack of area knowledge. Finally we asked for a $5000 discount as a negotiation, which was not accepted by the seller and we had to pull out of the deal. Interesting to note that the property did sell finally at a lower price. On my complaint and strong insistence, only the building and pest inspection report cost, which I had paid to the Inspection company was refunded by DDP.
    • DDP indicated that the asking price for the 2nd property that I ended up putting an offer on was AUD 430000, although the online advertisement asked for offers over $420000. In this property the lower level was just renovated and it was advised that this was a dual occupancy property with separate metering, again a key reason for my decision to go ahead. Based on my insistence to reduce the offer price, the offer was finalised at AUD 425000. However, when I personally visited the property the selling agent revealed that the lower level ceiling was not of legal height and hence I would not be able to lease it as two separate properties as a dual occupancy. On returning back and literally forcing DDP to ask the selling agent, it was further revealed that no council approvals were obtained for the renovation carried out on the lower level which included a fully functional kitchen. This obviously put me as the buyer at severe risk of litigation in an event of an untoward incident like a fire in or due to sections of the property for which council approval had not been obtained and someone is hurt due to it. Moreover, in the case of damage to property due to these unapproved sections, the building and landlord's insurance would be voided. Despite these risks which were pointed out by me, I was still recommended by DDP to buy the property without any price reduction, although it had potential to put me under serious litigation and financial liability.
    I believe that buyer's agents are appointed to protect the buyer against such risks. In this case, a seasoned buyer's agent would have immediately inquired with the selling agent regarding council approvals in case of a renovated property even before recommending the property to the client or would have noticed a lower than regulation height if they had personally visited the property.

    3) Lack of proper due Diligence:

    My experience has shown a sheer lack of due diligence from DDP on the properties recommended. My opinions are below:

    • Information provided by DDP on properties was already available on the internet in the public domain.
    • Moreover, in the cases above, the information provided was proven wrong or basic checks were not done resulting in deals getting cancelled.
    • As would be expected from a buying agent, who is supposed to act as the eyes of the investor when purchasing interstate and especially when charging an above benchmark premium fee, DDP never viewed the properties before recommending them or even before the initial offer price negotiation or signing of the contract. In my experience, they have relied on the internet and the information provided by the selling agent rather than doing their own visual checks to verify the facts. It was only when I went personally to visit the properties or while doing a building and pest (after the offer price was decided), when a potential property manager was sent to the property. Querying these property managers have revealed that the expected rent values were inflated and that the proposed property would not fetch the rent quoted by DDP.
    • The amount of effort, time and money that I had to put in to validate information provided by DDP and to carry out my own due diligence completely negated the reason I took a buyer’s agent in the first place.

    4) No Service for Buyer Advantage:

    In my experience, DDP also seemed to be more interested in closing the deal than negotiating on behalf of me, Whenever a point of negotiation was brought up (always on my initiative), I was told that a lower price cannot be obtained. There was no attempt to try to negotiate with the seller, until I pushed hard and pleaded to do so. At all times it seemed from my experience as if I was being sold the property by my own buyer’s agent !!

    5) DDP Mortgage Broker Incompetence:

    My experience also showed that the mortgage broker suggested by DDP provided a number of false quotes in terms of rates and provided wrong loan terms while quoting the rates. One instance was where I clearly indicated that I wanted an interest only loan and I was provided with a principle + Interest offer. A number of instances like this finally caused me to find my own mortgage broker.

    The above instances indicate to me that DDP never fulfilled the initial remit that was agreed before I even signed up with DDP. Moreover rather than making the process less stressful, the lack of due diligence, checks, buyer- advantage negotiation and service expected from a buyer’s agent has made the experience highly stressful for me and negated the reasons I decided to use a buyer's agent. Apart from the lack of value for a high fee price of AUD 13900, I have also suffered unnecessary financial loss (approx. $1005) in terms of unnecessary trips to Queensland and the 2nd property Building and Pest report for properties which should have not been recommended at all had the proper due diligence been carried out.

    The above is my factual experience with DDP and I believe it is important for experiences and reviews to be placed online, for the benefit of other customers who can weigh experiences and take a call.
     
    Last edited by a moderator: 24th Apr, 2017
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  14. Jackson Jones

    Jackson Jones New Member

    Joined:
    6th Apr, 2017
    Posts:
    3
    Location:
    Sydney

    I started with them around 4 years ago now and had a totally contrasting experience. I used DDP after I'd been sitting on a heavily negatively geared studio apartment for a few years and it was really hurting me. We sold that and tripled the size of my portfolio in just under two years. The brief was "if i lose my job, i want to keep the property's i buy". It's been three years now and I've never been so comfortable in high amounts of debt. All facts checked out, all purchases under market value and a great support team. Great equity growth and a positively geared portfolio - the two big boxes ticked, so I couldn't be happier really. I'm gearing up for another purchase as I type.
     
  15. bread_boy

    bread_boy Well-Known Member

    Joined:
    20th Jul, 2015
    Posts:
    193
    Location:
    Floater
    Would love to hear more about the types of properties DDP has sourced and secured for you if you care to share?

    Date, region, purchase price & yield would be a good start ;)
     
  16. Jackson Jones

    Jackson Jones New Member

    Joined:
    6th Apr, 2017
    Posts:
    3
    Location:
    Sydney

    IMG_4889.PNG
     
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  17. Jackson Jones

    Jackson Jones New Member

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    6th Apr, 2017
    Posts:
    3
    Location:
    Sydney
    You're welcome
     
  18. ps9589

    ps9589 New Member

    Joined:
    20th Mar, 2017
    Posts:
    4
    Location:
    NSW
    Seems like these properties were all in 2013 which is 3 years back and all in NSW and not bought interstate.
     
  19. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    1,783
    Location:
    melbourne
    those are decent buys but you playing in Sydney not SEQ.
    got a friend who bought an apartment around that time in chatswood and onsold it for nearly 1 million more like couple months ago.

    you could throw a dart in just about anywhere in Sydney or Melbourne during that time and made gains.
     
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  20. ps9589

    ps9589 New Member

    Joined:
    20th Mar, 2017
    Posts:
    4
    Location:
    NSW
    Sharing my current experience in trying to resolve the matter (which I have posted earlier) with DDP:

    Initially DDP indicated that they would like to make contact to resolve the matter promptly. However, when requested to have all communications on email or recorded phone conversations, they have ignored these requests. Instead, DDP have asked me to remove all my reviews from social media and have responded to me with statements like: “If you choose not to do so, I'm afraid we will resort to exercising our right to seek legal counsel and defend the matter in full and claim damages for defamation.” On indicating that my reviews are an honest account of my experiences with DDP, I have now started receiving emails from DDP

    with the following: “Did you receive a letter from our lawyers ?” Even though I have responded indicating that I have not received any communication from DDP, I have still received the below email:

    “Is their a reason your avoiding this question ?


    Did you or did you not receive the email from our solicitors ?


    Any claims against us will also be defended and we reserve our right to claim costs and damages “
     
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