Yardney's 'How & Where To Invest in Property in 2008'

That's the thing that annoys me the most. I did know that would happen!! That he would flog his services. i 've learnt my lesson.

On the other hand..... I was expecting the quality of the presentation to be better. That fact that it was very rushed with numerous stuff ups in a room that was hotter than a sauna was very dissapointing. $90 maybe nothing for some people to pay but it a whole fornights spending money for my family.

As i said, lesson learnt.

Happy
 
I also attended the Adelaide seminar and would like to thank Michael and his team for a well presented evening. I got alot out of it and took 5 pages of notes!

My business development manager and I had breakfast the next day with Michael and his wife and got to know what wonderful insprational people they are and that their success truly lies in the way they think.

The reason we organised a breakfast was because I totally respect that he is a busy man and the rules of networking. One of which is do not waste the presenters time! You cannot expect to corner and monopolise the presenter so that he can tell you and you only where and how to invest. Then come onto a public forum and tell everyone that he did not have time for you and that he was just trying to make money! Well I do hope that he did, he has put in alot of effort for his current success and obviously deserves to reap the benefit now!

Being programed against entreprenuers is a way of holding onto a victim mentality and this is totally against wanting to be a succesful property investor. You need to get rid of this paradox in order to move on and up!

In his seminar Michael did mention that the most important aspect of an investor was mindset and the way to accept that you have no limitations in wealth creation is accept that others also have no limitations and to look up to those who have made it otherwise you never will!

I have a large property portfolio, a buyer's agency in Adelaide and a property management company but I still was in awe of the seminar and took 5 pages of notes. Not because it was new knowledge or information but because it was my thoughts well presented at a seminar. Some one who is also a serious investor came up to me after the seminar and said "Xenia you and I could have put this together" and I replied yes we "could have" but Michael DID! He did it well and good on him for being so pro-active!

I have gotten something out of each and evey seminar that I attended, each one of them just like the property market is just a metaphore for your mind and what you get out of it is ony what YOU get out of it!

Thanks again Michael :D

This may come as a surprise.....I am defending Michael on this one....lol...lol ;)

Well said Xenia.....whilst I may have differences on which particular segments of the property market to invest in by Metropole. I also remain open minded on what Michael has to say. How knows I maybe able to pick up something I did not know.

I also respect the fact that Michael has a business and he should be able to run it as he sees fit. There are no right and wrong strategies of propeerty investment....do what works for you. The reason I love this forum is that it offers the opportunities to gain different perspectives and learn along the process.

I will be trying to get to Michael's seminar in Sydney.....because one of the key qualities of a professional property investor is being open to opportuities. :D
 
That's the thing that annoys me the most. I did know that would happen!! That he would flog his services. i 've learnt my lesson.

On the other hand..... I was expecting the quality of the presentation to be better. That fact that it was very rushed with numerous stuff ups in a room that was hotter than a sauna was very dissapointing. $90 maybe nothing for some people to pay but it a whole fornights spending money for my family.

As i said, lesson learnt.

Happy

Funny how the world works - we get what we expect out of life -
you went expecting certain things to happen and you got what you expected.

Others went expecting to get great information and they got what they expected - interesting

And yes the room was hot - blame Adelaide's heat wave and yes there were a few hiccups with Ed Chan's PowerPoint not mine - but that's OK blame me.

To say thank you to you for coming and giving up your time I am happy to not only refund your money but give you a book as a way of saying thank you for coming and sorry if we did not meet your expectations.

Happy - please email me with your real name as I have no idea who I am talking to and I will refund your money.
 
Thats gotta be plain wrong. It depends who the entrepreneurs are don't you think?

Maybe if a lot of people were programmed against so called "entrepreneurs" like Henry Kaye et al they would have maybe succeeded in property investing rather then being burnt big time.

Not to mention the entrepreneurs involved in Enron, HIH, OneTel on and on .........

Being programed against entreprenuers is a way of holding onto a victim mentality and this is totally against wanting to be a succesful property investor. You need to get rid of this paradox in order to move on and up!

D
 
Very interesting to see the perspective's.
Sorry to say i've not read your book yet Michael (too busy doing my own research around Frankston, Seaford, Carrum in VIC).

Happy, i'd be happy to read the book Michael has offered to refund you if you have no interest.

If you pay someone for advice and that advice turns out to be wrong, they have to take some responsibility for that.

An ideal world would allow such a thing, however in my (limited) experience with business, sharemarket, and working for the man, you can only expect to rely on your own common sense & due diligence (that is don't trust anyone, and always insure against risks).

Thats gotta be plain wrong. It depends who the entrepreneurs are don't you think?

Maybe if a lot of people were programmed against so called "entrepreneurs" like Henry Kaye et al they would have maybe succeeded in property investing rather then being burnt big time.

Not to mention the entrepreneurs involved in Enron, HIH, OneTel on and on .........

I consider myself as a reasonably aware person with some financial knowledge, and was dragged along to a Henry seminar back in the day, and it was clearly a high risk proposal. if you wanted to believe, it's easy to fall for it if you don't do your own research & due diligence. Having said that, the energy i gained from that short experience encouraged me to do a little research myself.

On that basis i think i agree with evand...

On the shares, what can we say, share capital is (very clear from the above examples) risky money.
Part of the share game is to pick companies that have solid financials, and a solid management team + board of directors... and if that doesn't work for the above examples, share capital is the risky money ;)
 
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Not sure if my point was clear, however i would agree with some comments that suggest it is possible to seperate inspiring people from good advice.

My example is a close friend who started a business a few years ago with what i considered to be very poor understanding of business. The differentiator was he knew where he was going.. he kept at it (working, learning, finding a way). 2 years later he is teaching me about business and the monthly cash flow is enviable :eek:.
 
Thats gotta be plain wrong. It depends who the entrepreneurs are don't you think?

Maybe if a lot of people were programmed against so called "entrepreneurs" like Henry Kaye et al they would have maybe succeeded in property investing rather then being burnt big time.

Not to mention the entrepreneurs involved in Enron, HIH, OneTel on and on .........

Henry Kaye's seminars and investing strategies were absolutely fantastic! His only downfall was trying to cater to the masses by providing investment spoonfeeding (offering them houses to buy!). After spending $15,000 on a seminar with a focus on due diligence by the presenter, people still went into risky mezzanine finance without assessing the risks. Yes they lost money which is sad but an even sadder part is they lost the lesson! They failed to take responsibility and blamed the presenter! HK will bounce back and although he stuffed up, he has the right mindset, people that lost the lesson may never succeed in anything! They will just keep putting blame and responsibility outside of themselves and this kills success!

I don't know too much about the other companies but I do know that taking full responsibility for your own financial security is crucial!

The investing market is nothing but a metaphore for your mind and like Michael said, you get what you expect (which may not be what you want).
 
Corner and monopolise ?? Hey ??

I gather this is directed at moi. I guess I'm just not as busy as all the important folk and don't understand the networking rules. I've always been rubbish at that, especially with folks in suits.....gives me the willies to tell you the truth. Oh well, I guess I'll go back to chinwagging with my truck driving buddies who also don't understand the "networking rules".





...or maybe it had nothing to do with that. Good ol'Ed Chan had plenty of time for a chat. Maybe he also is like me and doesn't quite get the hang of these "networking rules". I'm happy to hang out with the networks numpties....might be good fun. :D





Phew....now I know you're talking about someone else. Victim mentality and myself as a property investor don't belong in the same sentence.





It's interesting you say that Xenia, I normally like to take on board suggestions and advice from folk who are further along the track than the wife and I. I gather in your instance, this isn't quite the case, so I'm quite taken aback with your breath taking presumptions and gall.





Yes well, as has been proven on many occassions, the definition of "large" is somewhat subjective unless numbers are provided, and has different meanings for different folks. Some people say "large" when indeed it's quite modest.

Perhaps at your level Angelo & Xenia, you were able to extract quite alot from Michael's presentation.

Maybe I've just got the wrong mindset, and as Rixter pointed out, destined to be poor all my life with my negative attitude. I know what, howzabout we all have a little competition and we'll compare notes now and in say....3 years time. Who's up for it ?? Good vs evil. Poor vs Wealthy. Negative vs Positive. Yin vs Yang. Happy vs Grumpy. Could be fun. :)

Your post probably did have an influence on the comments I made since I did read all previous ones to mine before posting a reply but I was not delibrately trying to single out anyone. I apologise if it seems that way Daz. I have alot of respect for you as an investor and enjoy reading your posts and opinions here. :)
 
Not to single anyone out here, however I think it is unfortunate that so many times in these forums negative comments are made about people/organisations.
Us as successful property investors, do you not like sharing some of your knowledge yourself?
Anyway as said before I agree totally the accountability rests soley of the reciever of the imformation.
 
That fact that it was very rushed with numerous stuff ups in a room that was hotter than a sauna was very dissapointing.
Happy


:D:D:D LOL!!!!
The venue was not in a tin shed it was actually at the Adelaide HYAT!!!! Where else could it have been where it would have been better??????

Adelaide is still having a heat wave, I'm choosing to love it, probably the last bit of hot weather we are having for the year! Enjoy it, life dosen't last forever ;)
 
OK Mike and co my library has your book available so I'll go on a reading frenzy and where i make the time, will post my opinions at various stages. Hope some of you have subscribed to this thread so my posts are not just diary entries :)

Also found the following available at my local and will try to draw some comparisons... sadly i have read none and already barreling down my goal for building my little property empire this year.


Real property, real people, unreal profits / Reno Kings, Geoff Doidge and Paul Eslick ; edited by Kerry Davies.

The truth about positive cash flow property / Margaret Lomas.
Author: Lomas, Margaret

The ultimate guide to real estate / John McGrath.
Author: McGrath, John, 1963-

The insider's guide to saving thousands at auction / Patrick Bright.
Author: Bright, Patrick A., 1974-

A guide to property values : data and analysis from the records of the Valuer-General of Victoria fro residential, commercial, industrial and


Cheers,
MM
 
Ross:
MM
I went to this day seminar last year as well as the 3 day workshop in Melbourne.
Even if you can pickup a couple handy tips, its money well spent.

Ross, I nearly went to the 3 day seminar in QLD last year. I had been to the one day and found it a great refresher but more for beginning investors.
What was the three day like, did you network and were the level of investors more experienced?

Did you get to talk and spend time in person with the presenters? Thinking about doind it next time around.
 
My girlfriend and I met Michael at the Melbourne Property expo a few months ago, and I was so proud of my first purchase, being a quarter of an acre property in Croydon with a 3br house for $272K only 6 months ago, and after a few minor reno's ($4k) had it revalued at $370K.

We told him that we were planning one day to build 3 units.

He was quite rude and told me that I am wasting my time in the outer suburbs and could make lots more money in the inner city, as building costs are the same regardless of where you are. He then told me to buy his book as it would be the best $25 I have ever spent.

Since then I have received 4 emails per week from him and Chan accountants promoting their seminars.

We were a little bit saddened by his arrogance, so we have chosen to steer clear of his business in the future.
 
I went into a development with Metropole in 2003 to build 6 townhouses
It was a joint venture and there were 6 parties on the development in Boxhill
Melbourne
Metropole Purchased the house and land and we purchased it from Metropole
with plans for 6 townhouses
When we recieved the quotes for the construction the parties decided to pull
out and sell
The reason was the construction costs were way over budget
So we sold at a loss
I lost 30k
Well its now 2007 and if we had of gone through with the project I would have made a good capital gain
In 2003 I wasnt a metropole fan but now I see the merit in buying good location propety
The lesson for me is dont get into joint ventures
 
I went into a development with Metropole in 2003 to build 6 townhouses
It was a joint venture and there were 6 parties on the development in Boxhill
Melbourne
Metropole Purchased the house and land and we purchased it from Metropole
with plans for 6 townhouses
When we recieved the quotes for the construction the parties decided to pull
out and sell
The reason was the construction costs were way over budget
So we sold at a loss
I lost 30k
Well its now 2007 and if we had of gone through with the project I would have made a good capital gain
In 2003 I wasnt a metropole fan but now I see the merit in buying good location propety
The lesson for me is dont get into joint ventures

What you are saying is only partly right - Metropole did not buy the site and you did not buy it from Metropole The joint venture purchased the site from a vendor not in any way related to Metropole.

We never buy from or sell to clients.

My recollection is that when building quotes came in the JV had to contribute more funds, some wanted to and others didn't.

The JV decided to sell the property using the services of one of the JV partners who was an estate agent (not Metropole. The person who bought the property from the JV completed the project (not a Metropole client) did very,very well out of it.

Today those units would be worth double.

Metropole would have made money as project manager if the project went ahead - it didn' so we didn't deserve any fees. We're not happy when this type of thing happens.

This project has been mentioned on the forum before and I remember explaining that I offered every JV to credit any fees paid to Metropole to another project - some JV partners took up the offer - others didn't.

It is the only project in the 200+ we have done that has had this type of outcome.

I agree with the lessons you learned - I would add -choose your JV partners carefully.
 
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My girlfriend and I met Michael at the Melbourne Property expo a few months ago, and I was so proud of my first purchase, being a quarter of an acre property in Croydon with a 3br house for $272K only 6 months ago, and after a few minor reno's ($4k) had it revalued at $370K.

We told him that we were planning one day to build 3 units.

He was quite rude and told me that I am wasting my time in the outer suburbs and could make lots more money in the inner city, as building costs are the same regardless of where you are. He then told me to buy his book as it would be the best $25 I have ever spent.

Since then I have received 4 emails per week from him and Chan accountants promoting their seminars.

We were a little bit saddened by his arrogance, so we have chosen to steer clear of his business in the future.

I'm sorry if I offended you.

Maybe I should explain the other side..

This weekend I spent 3 days at the Sydney Property Expo.
We pay thousands of dollars to have a stand to promote “our” services. Remember we are in business.

Over the 3 days hundreds and hundreds of investors came up to speak with me and ask my opinion an a whole range of things.

That’s OK – I’m happy to give my opinion.

Often there was a large crowd so I had to be brief and keep the answers short.

Probably half the people who came up to me asked me questions about how to become a property developer and wanted to get into development with either minimal equity or minimal experience.

When I cautioned them it was not what they wanted to hear – so some may have thought I was “arrogant.”

So many people came up for me to help them justify some of their previous investment decisions and were not happy for me to say I disagreed with them – again I am “arrogant.”

If I say buy in well located inner and middle ring suburbs, person after person made me justify my reasons – because it did not fit in with what they thought or more often with the investment decision they had made.

So rather than explaining my reasons over and over again – I referred people to my book, where I have explained my thoughts succinctly.

Many in this forum agree it’s one of the best books they have read and it was a worthwhile investment – so why do people get upset if I recommend it?:(.

I find it interesting that people ask my opion - expect to get it for free and then start arguing and disagreeing with me.... I'm not always right - but if you ask my opinion I'll give you my opinion for what it is worth - not what the hundreds of attendees want to hear.

I am abrupt and short at expos' = sure I am - we had 900 pople ask for opinions over he last weekend in Sydney

Many people who came up and asked my thoughts did not like what I said – they preferred the message from the stand directly opposite us who suggested you could become a property developer with zero dollars.

It’s really easy to sell the concept of huge profit for little upfront expense and no risk – that’s what people want to hear.

I’m sorry you didn’t hear what you wanted to hear – but it’s really, really hard to make a project stack up in Croydon – that’s a fact.

I’m truly happy your property has increased in value – but so have most properties in Melbourne last year. I still stand by the fact that you can’t make a profit on a 3 unit project in Croydon at present, but you can in the inner suburbs.

And finally I don’t and have never sent 4 emails a week.

I have a strict anti spam policy. All my emails have a clear method of unsubscribing at the end.

Most readers of my e-magazine accept that in return for the great content they receive every fortnight from a wide range of experts, plus the monthly Webcasts where we answer listeners individual questions, I am allowed to promote some of our services.

That seems fair to me.

If you feel this is unfair please unsubscribe and I assure you that the emails will stop.
 
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Great post Michael.
Kudos to you.

Harris


I'm sorry if I offended you.

Maybe I should explain the other side..

This weekend I spent 3 days at the Sydney Property Expo.
We pay thousands of dollars to have a stand to promote “our” services. Remember we are in business.

Over the 3 days hundreds and hundreds of investors came up to speak with me and ask my opinion an a whole range of things.

That’s OK – I’m happy to give my opinion.

Often there was a large crowd so I had to be brief and keep the answers short.

Probably half the people who came up to me asked me questions about how to become a property developer and wanted to get into development with either minimal equity or minimal experience.

When I cautioned them it was not what they wanted to hear – so some may have thought I was “arrogant.”

So many people came up for me to help them justify some of their previous investment decisions and were not happy for me to say I disagreed with them – again I am “arrogant.”

If I say buy in well located inner and middle ring suburbs, person after person made me justify my reasons – because it did not fit in with what they thought or more often with the investment decision they had made.

So rather than explaining my reasons over and over again – I referred people to my book, where I have explained my thoughts succinctly.

I find it interesting that people ask my opion - expect to get it for free and then start arguing and disagreeing with me.... I'm not always right - but if you ask my opinion I'll give you my opinion for what it is worth - not what the hundreds of attendees want to hear.

I am abrupt and short at expos' = sure I am - we had 900 pople ask for opinions over he last weekend in Sydney

Many in this forum agree it’s one of the best books they have read and it was a worthwhile investment – so why do people get upset if I recommend it?:(.

Many people who came up and asked my thoughts did not like what I said – they preferred the message from the stand directly opposite us who suggested you could become a property developer with zero dollars.

It’s really easy to sell the concept of huge profit for little upfront expense and no risk – that’s what people want to hear.

I’m sorry you didn’t hear what you wanted to hear – but it’s really, really hard to make a project stack up in Croydon – that’s a fact.

I’m truly happy your property has increased in value – but so have most properties in Melbourne last year. I still stand by the fact that you can’t make a profit on a 3 unit project in Croydon at present, but you can in the inner suburbs.

And finally I don’t and have never sent 4 emails a week.

I have a strict anti spam policy. All my emails have a clear method of unsubscribing at the end.

Most readers of my e-magazine accept that in return for the great content they receive every fortnight from a wide range of experts, plus the monthly Webcasts where we answer listeners individual questions, I am allowed to promote some of our services.

That seems fair to me.

If you feel this is unfair please unsubscribe and I assure you that the emails will stop.
 
He was quite rude and told me that I am wasting my time in the outer suburbs and could make lots more money in the inner city, as building costs are the same regardless of where you are. He then told me to buy his book as it would be the best $25 I have ever spent.

We were a little bit saddened by his arrogance, so we have chosen to steer clear of his business in the future.

Mike,

I think you will appreciate that Michael Yardney runs a business...so he will need to ensure that he maxmises profits. I don't have an issue with this.

However, I have dealt with some of his staff and have noticed that they can be quite dismissive particularly if you don't hold their views on property.

Perhaps, I better way to handle people who don't agree is to say that they specialise in inner city property. People buy from people who they like...not arrogant people.

I for one are of the opinion that outer suburbs do as well so long as they are bought near developing infrastructure. There are many successful people - i.e. Jan Somers, Margaret Lomas who have done well. I for one have been successful also in the less salubrious suburbs.

My personal opinion is that you would be more successful if you did your own
research, bought the relevant info (i.e. Terry Ryder, Residex) and actually do this. This is more sustainable in the long term than relying on commercial businesses....as they will more likely have their interests at heart than yours. That is just business!

Hope this helps. :D
 
I think you hit it on the head Sash - people deal with people they feel they like and get along with.
I know Michael is an expert and a very successful investor/ developer and I could learn a huge amount from his experience, but I was just trying to make a point that I felt be-littled and dismissed.
It probably wasn't the best way to get me to attend his seminars.
I'm over it - Water under the bridge - maybe I'll buy his book on Ebay and decide for myself!
 
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