From: Paul Murphy
As many of you will know, I am the founder of The Investment Institute, which launches in Melbourne on 2nd April 2001, following seven months in the planning.
We are and have built our training college on professionalism and ethics (unlike some other "educators" out there who best remain nameless in this public forum), and we will stand and fall on that basis.
Occasionally, someone comes along who is intent on helping people make something of their life by educating them about the benefits of property investment, whilst at the same time actually being up front about what's in it for them.
Michael Yardney strikes me as being one of these individuals. He is up front about what we wants from you - he would like you to invest in a development project which results in you owning a property which you have effectively purchased "wholesale". He makes a management fee for organising everything - simple as that. He's told you up front so you can go in with your eyes wide open. It appears that he has no other hidden agenda, unlike some others I could mention but for fear of litigation I wont.
There in nothing wrong with being sceptical or cautious, these are excellent qualities we all should possess. But don't let your sceptism stop you from doing something. I haven't seen Michaels' contracts for what he does, but assuming they are OK (your solicitor will tell you if they are or not), but the general principal of the service he offers seems sound. You are far more likely to achieve a "wholesale" purchase price Michael's way than you are by trying to negotiate a 20% discount from a developer, as other guru's might tell you is possible everyday of the week.
Whilst I am not recommending Michael or his service, I do see that it has an excellent place for many people. From what I have seen so far, Michael should not be put in the "shonk" basket at all. He is upfront, honest and skilled in his area. For many people, I am sure Michael can make them a lot of money.
And that's my opinion.
The Investment Institute