Would be interested in feedback about this group myself. I have just read most of their new book "Streets Ahead" and although a lot of the detail is fairly basic I like their approach to selecting property that is highly likely to experience good capital growth. It would appear that a large part of their service is aimed at providing research and acting as a buyer's advocate obviously for a fee. They seem to be very high profile and if nothing else would probably improve one's chances of buying a better performing property investement. So perhaps the extra cost for their services may pay for itself in better capital growth. And they could prove very useful if you are wanting to buy and are new or unfamiliar with the market here in inner Melbourne.
Given that I am new to Melbourne I intend talking to them and others in a few weeks times to see what they have to offer and if noone else posts anything I will let you know what I find out. However I will still be pounding the pavement and doing a lot of due dilligence myself both in terms of people and property selection.
I'm using Metropole now & have found them good - do what they say they will, very experienced, not into rip-off, keep me well informed & haven't found any instances at all of divergence between what they say, what they do, and what has happened (a nice change). I bought a block with an existing permit - decided to use them instead of trying to do it myself and have subsequently congratulated myself for that decision a number of times.
We haven't started building yet but they've already saved me money: eg, the architect who came with the property had Glorious Visions of Making A Building Statement and in fact has been a royal pain in the whatsit. Metropole have handled him well, pointed out the potential pitfall to me, and recommended a lower cost material.
I spent considerable time researching both the firm & its principal before deciding. Am happy with them & to date find they delivered what they promise (also a nice change). Pleasant people, and I think the model of 'buying wholesale' has a lot to recommend it.
Wakelin - think they're also reputable, obviously like to position themselves as leaders in the field. I think their advice is sound - ie, look for limited supply, good areas, etc. I looked, went to a few events, but found them short on real value and long on self-promotion. Ultimately decided that as a value proposition, their fees weren't worth it to me & decided to do something else.
I was introduced to Michael Yardney (Metropole Properites) some 6 months ago.
Since then my attitude towards buying investment properties has changed. I refuse to pay retail price anymore when I have Metropole Properties who can guide me in purchasing at wholesale price and i can keep the developers profit.
Michael has organised a number of feasibility studies on properties that i was keen on developing and knowing i would make and not lose money. Missed out at auctions (that's ok - I'm patient), numbers don't stack up you look for the next one and Michael encourages this. Michael & I will keep looking for that profitable one.
At the end of the day, do you know of anyone else that has over 30 years of experience and is committed to helping you create wealth, one on one?
I have recommended Metropole Properties to several of my friends because I know Michael will help them.
Rolf, I hope this helps you, please email me if you have any further queries.