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From: Michael Yardney

Firstly, let me declare an interest...I am a property developer. We developed 8 projects last year.
In a good market, a property developer makes about a 20% margin on the total development cost of a project. In today's
market, it may be more like 17-18%.
Why would I, or anyone, give away half or most of my profit to you, just because you are going to buy more than one property from me.
Today's market is so hot that any developer can sell any good stock at top prices.
Even in tough times it is unlikely that anyone would give the sort of discounts that the "guru's" tell you about at their seminars. So what has been said in the postings above is basically correct.
So..... how do you buy at 10-15% or 20% below market? (Below the real market price, not the fictional price put to you by the developers.)
There is one way, and that is to become the developer yourself and get the developer's margin. But this is risky unless you know what you are doing. For the last year or so we have been putting together groups of codevelopers and allowing them to become "armchair developers" and buy the properties wholesale. This way they get a true discounted price.
On July 17 we will be running a free property investment seminar in Melbourne and amongst lots of other things, we will be discussing this concept. Anyone interested in coming along, please email me and I will send you the details.

Michael Yardney
Metropole Properties
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Reply: 1
From: Mike .

Hi Michael,

Could you do us a favour and attach your replies to the correct thread because it is confusing when they stand-alone as a "No Topic" without any reference.

Thanks for all your great contributions.

Regards, Mike
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Reply: 1.1
From: Robert Longmore

will you be holding a similar seminar in Syd?
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