Michael Yardney/Metropole

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From: Anonymous


Hi All,

I attended Michael Yardney's seminar and was interested to know if anyone had had any dealings with him? I was very impressed with what he has to offer, but before spending my $$$ I like to check things out. Is he honest, or is he one of these shonky dealers who will end up on A Current Affair or something?!
 
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Sim

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Reply: 1
From: Sim' Hampel


Michael ! Care to respond ? Are you a shonky dealer ? Are you going to appear on ACA ?

;-)

 
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Reply: 1.1
From: Michael Yardney


Thanks for giving me the opportunity of responding.
That’s the beauty of this forum – I expected to be scrutinized.
In all my material I have been open about my business and given addresses of developments I have undertaken.
While I have been developing property for myself, my family and joint venture partners for over 15 years, I have only been providing my services to the general public and putting together groups of co-developers since June last year.
I have learnt from other people’s mistakes and tried hard to develop a system that would work to everybody’s benefit. All I’m really doing is leveraging my knowledge, letting you take advantage of my years of experience in the real estate market.
If you look more carefully at what we do, I am not “taking your money”, you are buying the property in your name and it’s your name on the Title, not mine. The only money our company gets is a project management fee for putting a successful development together. We take no financial interest in the projects. I work on the basis of, if I gave you $50,000 you never had (in development profit or discount in purchase price by buying wholesale), would you be prepared to give me $7,000 of it?
I always urge anyone who joins one of our co-developments to do their due diligence on the project very carefully, because I clearly state I am not an estate agent or financial advisor, and they must take the ultimate responsibility for their investment decisions. I give you the information that has worked for me and others, and it is up to you how you use it.
Have a great week …. make it a great week!

Michael Yardney Metropole Properties
 
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Reply: 2
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.

Paul Murphy
The Investment Institute
 
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Michael Yardney/Metropole - Investor question

Reply: 1.1.1
From: Michael G


Hi Michael,

I thought of asking you this direct, but then I thought the question (and answer) would benefit anyone.

My question is from an investor point of view.

How do you accept investor contributions?, is it a cash only system, or do you accept equity as well?

Basically I have equity in a couple of properties.

If I were to drawn down this equity and place it in your hands I would have to pay interest.

But if I were able to draft a letter of credit with a caveat on the title, would this be acceptable also?

My fundamental understanding of development is that lenders give about 60-75% LVR for construction finance. My thought that the 25-40% deposit the developer needs to contribute could be either cash or equity in other properties.

If equity is acceptable, then it would be great to just draft up the papers, which secured my equity for investment purposes.

For me this would mean a higher return as there would be no interest expense. And I guess for you, it would mean more equity to play with.

Have you ever done such joint ventures?, I would be interested.

I ask because I possibly have more equity than I could possibly service at this time, but I'd hate to miss out on such an opportunity.

Regards
Michael
 
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Reply: 2.1
From: Grant P


I was lucky enough to be be at a resettlement seminar today where I heard Paul speaking about investments etc. I feel confident that the information that was discussed was accurate.

I am also pleased that Paul has passed on his approval for Metropole as it tends to give us amateurs a little faith on who we are dealing with. In other words, if one professional supports the credibility of another professional, why would I say anything different with no ammunition.

Thanks Paul. I enjoyed your talk and hope to hear from you soon.

Grant
 
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Michael Yardney/Metropole - Investor question

Reply: 1.1.1.1
From: Michael Yardney


Michael
There are lots of reasons why it is inappropriate to answer individual questions on this type of forum, including the rules about who is allowed to give financial advice and who can make offers to the public to raise equity.
I want to make it clear I am doing NEITHER of these. Please contact me directly and I will answer whatever questions I can.
What I can say is I do NOT accept investor contributions. You own the property in YOUR name, and I don’t have access to your equity or capital to “play with.”
Further, what you say about the bank’s rules is not entirely correct. What they lend depends on who you are and your track record. They are very kind to us. My bank manager was there on Tuesday and even he is considering investing this way.
I can understand why some people are skeptical. It is a pity that others have spoiled it by taking advantage of some inexperienced investors.
Have a great week…..make it a great week!

Michael Yardney Metropole Properties
 
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Reply: 1.1.2
From: Michael Yardney


Hi all
What I probably should have also told you is that Metropole Properties has been trading successfully year after year since the early 1980's. I have invested, traded and survived 3 major property cycles. Not a bad track record!!!
Michael Yardney Metropole Properties
 
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