Today we’ll have a look at Michael Yardney and his Metropole Investment company.
We’re spoiled for choice as Australians as a country of prosperity and wealth. That said, it really pays to do your research well.
I’ve decided to write this Michael Yardney Review regarding his Metropole Property Group so you can get some independent insights.
He’s built a substantial net worth and has written numerous books, but has been tainted by negative actions of his past.
Michael Yardney Review
I first bought a book by Michael Yardney in 2009. We’re talking more than 10 years ago now. That was early in my journey. In 2011 I started this blog to detail my journey towards building mostly passive income from the internet.
Today I own 3 investment properties and numerous internet ventures.
Was either easy? No. Michael’s a fan of the long game and wealth creation over time. The most important thing is that you start and consistently research.
I’ve not used Metropole at all. Why? Negative gearing and spending money each and every month isn’t my idea of fun at all.
You only win if the market goes up. If it goes sideways, you lose due to the rent not paying off the mortgage. Australian property market crash? Well, that explains itself.
I do wonder what property mentors recommending negative gearing are going to do once the crash comes. Some are predicting 2021 as the year that it officially starts.
That said, what I can highly recommend from Michael is his educational materials, all of which you’ll find on Property Update. He’s written numerous books:
- How to Grow a Multi-Million Dollar Property Portfolio
- Thriving, Not Just Surviving in Difficult times
- Michael Yardney’s Rules of Property
- Michael Yardney’s Guide to Getting Rich
- Rich Habits, Poor Habits (a slight knockoff from Rich Dad Poor Dad?)
- What Every Property Investor Needs to Know About Finance, Tax and the Law
The reviews particularly on How to Grow a Multi-Million Dollar Property Portfolio are quite high. In fact, this was my favourite book out of his series.
After almost 3 decades in the trenches, it’s clear that he has some serious experience in this field.
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The Doctor Michael Yardney scam
Did you know that this property investing author was previously known as Dr Michael Yardney? It’s come forward recently that he was a perpetrator of sexual abuse and lost his doctor’s licence after practising in WA for several years.
However, not all is lost. While he was tried through the legal system, Michael has addressed these concerns very professionally:
You can find the full forum thread on the Somersoft forums here.
Again, that’s why doing your research is very important.
At the same time, I believe everyone has the right to set the record clean, as Michael evidently has. With 25+ years now in the property market, his reputation stands strong.
Have we all made mistakes in the past? Absolutely. Would most people be willing to stand up like this? Probably not.
Michael Yardney Net Worth
Michael Yardney’s net worth is estimated at $7,000,000 Australian Dollars, mainly generated through investing and developing residential property across the country.
He’s often quite secretive about his current actual numbers, but I do know a close client who’s relayed this information to me. This was a few years ago so I imagine his retirement nest-egg is even bigger.
Why is this important? Because you want to know that the person you’re learning from has results. Mr Yardney certainly has both failures and successes that he’s not afraid of sharing, especially his time spent as a Doctor.
However, he doesn’t really push the notion that you can get rich through cashflow. In my experience, the best way to generate cashflow isn’t through property, it’s through business.
In particular, the business model you’ll want to pay attention to is internet-based businesses.
Passive income online
One of the biggest challenges that property investors face across Australia is loan-serviceability. They buy one or two properties then they have effectively “maxed out” their ability to take on more debt.
Unless of course they buy a cashflow positive property, but these are hard to find.
Where will the average investor then find additional income? Online. Through building their own business that delivers mostly passive income over time and a lot of hard work.
I’ve been on this journey now for almost a decade. This has been one that I’ve done hand-in-hand with my property investing journey. Is it easy? Absolutely not, but it’s definitely worth the challenges.
In fact, I know a fantastic community full of property investors who do exactly this. They are starting their journey today to build additional cashflow online.
I’ve helped this community grow since inception and may earn a commission if you join with my link. However, you can learn a lot through the free training.
This is a fantastic starting point if you’d like to know what thousands of Australians are doing right now to get through the challenging times ahead.
In summary
Michael Yardney has had a troubled past but has an unblemished record since. In fact, hunting around, you’ll pretty much only find praise with people who have been to one of his property investing seminars.
In other words, he’s certainly the real deal and Australia’s #1 property expert.
What’s unique is that he retired early but still continues to teach. That’s the secret to success in online business actually – be passionate about it, as opposed to doing it because you have to.
Today I continue to listen to Michael Yardney’s Podcast though I’m holding off from purchasing any further properties. After all, Australia has a looming property market crash.
Instead, my focus right now is on digital cashflow. The kind of business that I can build from home, without requiring a heavy debt load.
In 2020, we have a massive amount of opportunities available to us where you could semi-retire from an internet-based business.
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They take a lot of work, capital and determination – traits seldom found in many Australians today. But if you’ve got the work ethic, I’d be opening my mind towards the possibilities to start today.
