I rented a home from WPI Real Estate this March of 2019. The home was owned by the managing broker of WPI, Tong Chin Wu (aka TC Wu) who then listed the home for sale 1.5 weeks after I signed my lease. The property manager, Yuanchang Liang (aka Robert), acting on behalf of WPI and TC Wu, made various representations during the signing of my lease, assuring me that the owner was looking for a long term tenant. What he neglected to tell me was that the owner (TC Wu) was having problems paying the monthly mortgage payment (he had a $5k+ mortgage and was renting the property for only $2500/month) and that he already had one refinance attempt denied before I signed my lease. Instead of doing the responsible thing and selling the home, he was going to give the refi option one more shot by submitting his application again after he found a tenant to lease the property (me).
After I moved in TC Wu submitted the second refi application, which was also immediately denied. In a last ditch effort to save the home, he then asked his parents in Taiwan for money, which they were unable or unwilling to provide. He then proceeded to list the home for sale regardless of the fact that I had just moved in. For the next 4-5 months I had to endure what seemed like almost daily calls, emails, visits, inspection requests, and other harassment related to the sale of the home.
I believe this is highly unethical behavior on the part of TC Wu and WPI, and/or a very incompetently run business for something like this to happen. Just to reiterate, the home I rented wasn't owned by a random client of WPI who changed their mind on a whim after I signed the lease. The home was owned by TC Wu, who is the managing broker (essentially the CEO), who should have been well aware of what was going to happen to the home and its tenant if he wasn't able to secure refinancing.
TC Wu is good at playing dumb and acting innocent, claiming he didn't know that he would have to list the home for sale and that I'm the one who is out of line here. Really TC? Your first refinance application was denied and you had no plan on what you were going to do if you got rejected the second time? Why do think your loan got rejected the first time? Think about it........ You're supposed to be the "real estate professional" here. He also neglected to tell his property manager (who rented the home to me) about his situation. Is this the proper way to run a real estate agency whose primary purpose is to service their customers and ensure their happiness? I'm a random client who did everything right from the beginning and walked into this nightmare.
WPI and TC Wu solicited my business and entered into a contract with me despite his financial situation surrounding the house, which should have been resolved before renting it out. To this day TC Wu still refuses to take responsibility and own up to his mistakes. Pretty sad I have to say, but I totally understand....TC has an image that he needs to maintain and based on my dealings with him he'll do just about anything to deceive you. I hope others can read this review and decide whether you want to do business with TC Wu and WPI, or at least proceed with caution now that you know who you're dealing with.
WPI Real Estate is rated 1.0 based on
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Roosevelt Way Northeast