Bryce Yardney's guest appearances

Bryce Yardney

The Michael Yardney Podcast

The Michael Yardney Podcast | Property Investment, Success & Money

Andrew Wilson

Pete Wargent

Michael Yardney

Poor Habits Podcast

Stuart Wemyss

Warren Buffett

John Lindeman

Allan Pease

Louise Bedford

Chris Bates

Brett Warren

Chris Tate

Effie Zahos

Mark McCrindle

Veronica Morgan

OwlTail

Around Australia, weekend property auctions have become almost a national pastime. When we’re not lockdown people go along to have a sticky beak, to get an idea of the market, to fantasize about their dream homes or just to watch the street theatre unfolding before them. It’s a bit like watching buskers – you see an auction being conducted you just have to stop and gawk for a while. Of course, over the last year, we have had to learn to adapt in many auctions are conducted online, but auctions are still a particularly popular method of selling properties, especially when the market is strong. For all the street theatre and entertainment value, auctions represent a lot of stress and tension for those involved so today and in the next episode of the Michael Yardney podcast, we’re going to concentrate on how to win at auctions. And even if you’re not planning to buy a property at auction in the near future, there will be lots of information for you as I chat with my son Bryce Yardney, and you get inside the mind of a very successful investor and buyer’s agent who has bought hundreds and hundreds of properties at auction for our clients at Metropole. What to do before and during an auction: Before the auction:  Preliminaries include: getting finance preapproved, understanding what ownership entity you’re using to purchase, having a strategic property plan if it’s an investment, understanding what you must have, what you’d like to have, and what you don’t have if you’re buying a home and doing due diligence on your suburb.  Attend a lot of auctions to feel at home with them and watch how the auctioneers work. In particular watch the auctioneer who will be showing the property you’re interested in.   Determining the value of the property  Understand what’s comparable in today’s market. End up with 3 figures:  what you think the property is worth The price you’d like to get it for The stretched price you’re prepared to go to   The purchase price shouldn’t be determined by borrowing capacity.   How do you find out the reserve?  It doesn’t really matter. Often the auctioneer doesn’t know until the day of the auction.   Finalizing contract terms  Check with the agent to find out how should you pay the deposit Request any changes you’d like    Four things the selling agent knows that you don’t  The real reason the vendor is selling The price range the owner wants How many other buyers are really interested and possibly the range they are likely to pay Things that are wrong with the property  Can you buy a property before the auction? In today’s market, because vendors are more confident that they will sell at auction, however, there are a number of reasons why vendors may be prepared to sell before auction.  Nervous vendor Sensitive sellers – Sellers going through emotional challenges like death, divorce, illness. Time-sensitive vendors – they have already bought a house and the certainty of selling their old property outweighs the potential benefit of a higher price at auction. There isn’t much interest in the property The agent is in a hurry to sell You have a premium offer on the table  What to do on Auction Day  Show up early Note the body language of the other players Know your competition – it’s the underbidder, not the auctioneer Project confidence Open high Don’t procrastinate over the next bid Avoid not bidding – that’s not a strategy Know what bidding strategies don’t work, like moving up in small increments or trying to swoop in at the end of the auction after staying silent If it’s going to pass in, make sure you are the highest bidder, as this allows the first right to negotiate with the vendor. Be prepared to miss out. Stick to your ‘walk-away price.  Resources: Michael Yardney Bryce Yardney – director Metropole Projects Get the team at Metropole to help build your personal Strategic Property Plan  Click here and have a chat with us Collect your bundle of eBooks and reports here: www.PodcastBonus.com.au Shownotes plus more here:  Hands up if you want to know more about auctions, with Bryce Yardney Some of our favourite quotes from the show: “Auctions do bring out emotion and, at the moment it’s FOMO.” – Michael Yardney “Most adults start with the same amount of money. They just have a different philosophy.” – Michael Yardney “Poor people spend their money and save what’s left, while rich people save their money and spend what’s left.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Around Australia, weekend property auctions have become almost a national pastime. When we’re not lockdown people go along to have a sticky beak, to get an idea of the market, to fantasize about their dream homes or just to watch the street theatre unfolding before them. It’s a bit like watching buskers – you see an auction being conducted you just have to stop and gawk for a while. Of course, over the last year, we have had to learn to adapt in many auctions are conducted online, but auctions are still a particularly popular method of selling properties, especially when the market is strong. For all the street theatre and entertainment value, auctions represent a lot of stress and tension for those involved so today and in the next episode of the Michael Yardney podcast, we’re going to concentrate on how to win at auctions. And even if you’re not planning to buy a property at auction in the near future, there will be lots of information for you as I chat with my son Bryce Yardney, and you get inside the mind of a very successful investor and buyer’s agent who has bought hundreds and hundreds of properties at auction for our clients at Metropole. What to do before and during an auction: Before the auction: <ul> <li>Preliminaries include: getting finance preapproved, understanding what ownership entity you’re using to purchase, having a strategic property plan if it’s an investment, understanding what you must have, what you’d like to have, and what you don’t have if you’re buying a home and doing due diligence on your suburb. <ul> <li>Attend a lot of auctions to feel at home with them and watch how the auctioneers work.</li> <li>In particular watch the auctioneer who will be showing the property you’re interested in.</li> </ul> </li> <li>Determining the value of the property <ul> <li>Understand what’s comparable in today’s market.</li> <li>End up with 3 figures: <ul> <li>what you think the property is worth</li> <li>The price you’d like to get it for</li> <li>The stretched price you’re prepared to go to</li> </ul> </li> <li>The purchase price shouldn’t be determined by borrowing capacity.</li> </ul> </li> <li>How do you find out the reserve? <ul> <li>It doesn’t really matter. Often the auctioneer doesn’t know until the day of the auction.</li> </ul> </li> <li>Finalizing contract terms <ul> <li>Check with the agent to find out how should you pay the deposit</li> <li>Request any changes you’d like</li> </ul> </li> </ul> Four things the selling agent knows that you don’t <ol> <li>The real reason the vendor is selling</li> <li>The price range the owner wants</li> <li>How many other buyers are really interested and possibly the range they are likely to pay</li> <li>Things that are wrong with the property</li> </ol> Can you buy a property before the auction? In today’s market, because vendors are more confident that they will sell at auction, however, there are a number of reasons why vendors may be prepared to sell before auction. <ol> <li>Nervous vendor</li> <li>Sensitive sellers – Sellers going through emotional challenges like death, divorce, illness.</li> <li>Time-sensitive vendors – they have already bought a house and the certainty of selling their old property outweighs the potential benefit of a higher price at auction.</li> <li>There isn’t much interest in the property</li> <li>The agent is in a hurry to sell</li> <li>You have a premium offer on the table</li> </ol> What to do on Auction Day <ul> <li>Show up early</li> <li>Note the body language of the other players</li> <li>Know your competition – it’s the underbidder, not the auctioneer</li> <li>Project confidence</li> <li>Open high</li> <li>Don’t procrastinate over the next bid</li> <li>Avoid not bidding – that’s not a strategy</li> <li>Know what bidding strategies don’t work, like moving up in small increments or trying to swoop in at the end of the auction after staying silent</li> <li>If it’s going to pass in, make sure you are the highest bidder, as this allows the first right to negotiate with the vendor.</li> <li>Be prepared to miss out. Stick to your ‘walk-away price.</li> </ul> Resources: <a href="http://michaelyardney.com/" rel="nofollow" target="_blank">Michael Yardney</a> <a href="https://metropole.com.au/expert-bryce-yardney/" rel="nofollow" target="_blank">Bryce Yardney</a> – director <a href="https://metropole.com.au/develop/" rel="nofollow" target="_blank">Metropole Projects</a> Get the team at <a href="https://metropole.com.au/" rel="nofollow" target="_blank">Metropole</a> to help build your personal <a href="https://investor.metropole.com.au/strategic-property-plan/" rel="nofollow" target="_blank">Strategic Property Plan</a> <a href="https://investor.metropole.com.au/strategic-property-plan/clkg/https/investor.metropole.com.au/strategic-property-plan-enquiry/" rel="nofollow" target="_blank"> Click here and have a chat with us</a> Collect your bundle of eBooks and reports here: <a href="http://www.podcastbonus.com.au" rel="nofollow" target="_blank">www.PodcastBonus.com.au</a> Shownotes plus more here: <a href="https://propertyupdate.com.au/podcast-hands-up-if-you-want-to-know-more-about-auctions-with-bryce-yardney/" rel="nofollow" target="_blank"> Hands up if you want to know more about auctions, with Bryce Yardney</a> Some of our favourite quotes from the show: “Auctions do bring out emotion and, at the moment it’s FOMO.” – <a href="https://www.therulesofproperty.com.au/" rel="nofollow" target="_blank">Michael Yardney</a> “Most adults start with the same amount of money. They just have a different philosophy.” – <a href="https://www.financialfluency.com.au/" rel="nofollow" target="_blank">Michael Yardney</a> “Poor people spend their money and save what’s left, while rich people save their money and spend what’s left.” – <a href="https://negotiateinfluencepersuade.com/" rel="nofollow" target="_blank">Michael Yardney</a> PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. <a href="https://propertyupdate.com.au/how-to-leave-us-a-podcast-review/" rel="nofollow" target="_blank">Here's how</a>

Hands up if you want to know more about auctions, with Bryce Yardney

Have you ever thought of getting involved in property development? That’s what I’m going to talk about today with Bryce Yardney, director of Metropole Projects. We’re seeing more and more people interested in property development because, in times of flatter capital growth, you’re looking to manufacture capital growth. Today we’re going to talk about some of the risks involved in property development. Property development involves a wide range of activities and processes and in order to be successful, you’ll need to know about the market, the property, economics, finance, town planning, construction, and even marketing. It’s difficult, but if you have a good team around you and you have the finance to do it, property development is a great way to build your assets and buy your next investment at wholesale. Hopefully, today’s show will give you some insight into whether property development is for you, now or sometime in the future. Some of the common risks of property development that we discuss:  Mistaking precedent for permission: The rules can change. Just because somebody else did it doesn’t mean that you’ll be able to do it. Not understanding what “subject to council approval” means: “Subject to council approval” is like the word “but”. Anything that comes before it is meaningless. You need to understand the council you’re getting into and understand something about town planning – or at least have someone on your team who does. Not being cautious about competitive developments Delivering the wrong product to the market: Remember, it’s not about what you would want. You need to understand what the market really wants Not anticipating bank hurdles: The banks are currently more difficult than They’re afraid of what’s going on and more conservative than usual. Borrowing is not impossible, but you need to be prepared for a number of hurdles. Not understanding what goes into choosing a builder: There are three big factors that go into choosing a builder. These are quality, time, and dollars. Don’t get so hung up on dollars that you sacrifice the quality. Not having enough money for upfront costs: Banks don’t lend for soft costs, like stamp duty, interests, consulting costs, etc, so you need to allow for enough money upfront to handle these expenses, that can run into the tens of thousands. Underestimating the power of the council Not employing a project manager Not know what you don’t know: That’s why you need somebody around you to help you – someone who will know the things that you don’t know.  Links and Resources: Interested in getting started in property development? Find out more here Bryce Yardney – Director Metropole Projects Metropole’s Strategic Property Plan – to help both beginning and experienced investors Shownotes plus more here:  Is getting started in property development right for you with Bryce Yardney Some of our favourite quotes from the show: “In my mind, one of the biggest risks in development is actually the developer: you, the person listening to this.” – Michael Yardney “Once you get it and it works, and you’re manufacturing equity and you’re getting good cash flow, it actually can almost be a self-perpetuating machine.” – Michael Yardney “Enjoy the journey, because if you don’t enjoy the journey, you’re not going to appreciate the destination when you get there.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Have you ever thought of getting involved in property development? That’s what I’m going to talk about today with Bryce Yardney, director of Metropole Projects. We’re seeing more and more people interested in property development because, in times of flatter capital growth, you’re looking to manufacture capital growth. Today we’re going to talk about some of the risks involved in property development. Property development involves a wide range of activities and processes and in order to be successful, you’ll need to know about the market, the property, economics, finance, town planning, construction, and even marketing. It’s difficult, but if you have a good team around you and you have the finance to do it, property development is a great way to build your assets and buy your next investment at wholesale. Hopefully, today’s show will give you some insight into whether property development is for you, now or sometime in the future. Some of the common risks of property development that we discuss: <ul> <li>Mistaking precedent for permission: The rules can change. Just because somebody else did it doesn’t mean that you’ll be able to do it.</li> <li>Not understanding what “subject to council approval” means: “Subject to council approval” is like the word “but”. Anything that comes before it is meaningless. You need to understand the council you’re getting into and understand something about town planning – or at least have someone on your team who does.</li> <li>Not being cautious about competitive developments</li> <li>Delivering the wrong product to the market: Remember, it’s not about what you would want. You need to understand what the market really wants</li> <li>Not anticipating bank hurdles: The banks are currently more difficult than They’re afraid of what’s going on and more conservative than usual. Borrowing is not impossible, but you need to be prepared for a number of hurdles.</li> <li>Not understanding what goes into choosing a builder: There are three big factors that go into choosing a builder. These are quality, time, and dollars. Don’t get so hung up on dollars that you sacrifice the quality.</li> <li>Not having enough money for upfront costs: Banks don’t lend for soft costs, like stamp duty, interests, consulting costs, etc, so you need to allow for enough money upfront to handle these expenses, that can run into the tens of thousands.</li> <li>Underestimating the power of the council</li> <li>Not employing a project manager</li> <li>Not know what you don’t know: That’s why you need somebody around you to help you – someone who will know the things that you don’t know.</li> </ul> Links and Resources: Interested in getting started in property development? <a href="https://metropole.com.au/develop/" rel="nofollow" target="_blank">Find out more here</a> <a href="https://metropole.com.au/expert-bryce-yardney/" rel="nofollow" target="_blank">Bryce Yardney</a> – Director <a href="https://metropole.com.au/develop/" rel="nofollow" target="_blank">Metropole Projects</a> <a href="https://investor.metropole.com.au/strategic-property-plan/" rel="nofollow" target="_blank">Metropole’s Strategic Property Plan</a> – to help both beginning and experienced investors Shownotes plus more here: <a href="https://propertyupdate.com.au/podcast-is-getting-started-in-property-development-right-for-you-with-bryce-yardney/" rel="nofollow" target="_blank"> Is getting started in property development right for you with Bryce Yardney</a> Some of our favourite quotes from the show: “In my mind, one of the biggest risks in development is actually the developer: you, the person listening to this.” – Michael Yardney “Once you get it and it works, and you’re manufacturing equity and you’re getting good cash flow, it actually can almost be a self-perpetuating machine.” – Michael Yardney “Enjoy the journey, because if you don’t enjoy the journey, you’re not going to appreciate the destination when you get there.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. <a href="https://propertyupdate.com.au/how-to-leave-us-a-podcast-review/" rel="nofollow" target="_blank">Here's how</a>

Is getting started in property development right for you with Bryce Yardney

Are you interested in getting into property development? If so, the insights in today’s episode can help you on your journey. And even if you’re not planning on getting into property development yourself, you can still learn a lot about property selection and how the mind of a successful property developer works by listening to the interview in today’s episode. In this special bonus episode, you’ll hear Dan Gold of Long Property interview my son, Bryce Yardney. Bryce has been overseeing and the property development arm at Metropole for many years. This interview will provide some interesting and useful insights into how successful property development works. Highlights from Dan Gold’s Interview with Bryce Yardney  How Bryce got into property development How the property development division of Metropole works What Bryce would recommend for an entry-level property development Why the overarching strategy is buy, develop, and hold, rather than buy, develop, and sell quickly Why Bryce focuses on capital growth How Bryce finds a good property for development Why you need a development-friendly council Types of financial metrics people should be focused on when they do due diligence on a potential investment site How to size up a good deal versus an average deal Holding costs through the development period Tips for people who are considering a substantial renovation or development project What happens after a successful development project  Links and Resources: Michael Yardney Metropole Property Strategists Bryce YardneyMetropole Dan Gold – Long Property Metropole’s Property Development Services Organise a  Strategic Property Plan with the team at  Metropole Some of our favourite quotes from the show: ”I got involved in  property development in the 1980s, and I made lots and lots of mistakes, but a rising market carried me through. If you make those mistakes in today’s current flatter market, you’re going to get yourself into real financial trouble.” – Michael Yardney “Getting through is the hard bit – you’ve got to have the financial buffers, but once you get to the end, it’s surprisingly easy to hold onto the completed development. And then, you profit from the strong cash flow and capital growth over the long term.” –Bryce Yardney “The more inexperienced you are, the more unsure you are, the bigger contingency you have to allow the bigger the risk margin you have to allow, because you’ve got to assume you’re wrong.” – Bryce Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me.  Here's how.

Are you interested in getting into property development? If so, the insights in today’s episode can help you on your journey. And even if you’re not planning on getting into property development yourself, you can still learn a lot about property selection and how the mind of a successful property developer works by listening to the interview in today’s episode. In this special bonus episode, you’ll hear Dan Gold of Long Property interview my son, Bryce Yardney. Bryce has been overseeing and the property development arm at Metropole for many years. This interview will provide some interesting and useful insights into how successful property development works. Highlights from Dan Gold’s Interview with Bryce Yardney <ul> <li>How Bryce got into property development</li> <li>How the property development division of Metropole works</li> <li>What Bryce would recommend for an entry-level property development</li> <li>Why the overarching strategy is buy, develop, and hold, rather than buy, develop, and sell quickly</li> <li>Why Bryce focuses on capital growth</li> <li>How Bryce finds a good property for development</li> <li>Why you need a development-friendly council</li> <li>Types of financial metrics people should be focused on when they do due diligence on a potential investment site</li> <li>How to size up a good deal versus an average deal</li> <li>Holding costs through the development period</li> <li>Tips for people who are considering a substantial renovation or development project</li> <li>What happens after a successful development project</li> </ul> Links and Resources: <a href="http://michaelyardney.com/" rel="nofollow" target="_blank">Michael Yardney</a> <a href="http://metropole.com.au/" rel="nofollow" target="_blank">Metropole Property Strategists</a> <a href="https://metropole.com.au/expert-bryce-yardney/" rel="nofollow" target="_blank">Bryce Yardney</a><a href="https://metropole.com.au/expert-bryce-yardney/" rel="nofollow" target="_blank">Metropole</a> <a href="http://longproperty.com.au/" rel="nofollow" target="_blank">Dan Gold – Long Property</a> <a href="https://metropole.com.au/develop/" rel="nofollow" target="_blank">Metropole’s Property Development Services</a> Organise a <a href="https://investor.metropole.com.au/strategic-property-plan/" rel="nofollow" target="_blank"> Strategic Property Plan</a> with the team at <a href="https://investor.metropole.com.au/strategic-property-plan/" rel="nofollow" target="_blank"> Metropole</a> Some of our favourite quotes from the show: ”I got involved in <a href="https://metropole.com.au/develop/get-started-in-property-development/" rel="nofollow" target="_blank"> property development</a> in the 1980s, and I made lots and lots of mistakes, but a rising market carried me through. If you make those mistakes in today’s current flatter market, you’re going to get yourself into real financial trouble.” – Michael Yardney “Getting through is the hard bit – you’ve got to have the financial buffers, but once you get to the end, it’s surprisingly easy to hold onto the completed development. And then, you profit from the strong cash flow and capital growth over the long term.” –<a href="https://metropole.com.au/develop/get-started-in-property-development/" rel="nofollow" target="_blank">Bryce Yardney</a> “The more inexperienced you are, the more unsure you are, the bigger contingency you have to allow the bigger the risk margin you have to allow, because you’ve got to assume you’re wrong.” – <a href="https://propertyupdate.com.au/author/bryce-yardney/" rel="nofollow" target="_blank">Bryce Yardney</a> PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. <a href="https://propertyupdate.com.au/how-to-leave-us-a-podcast-review/" rel="nofollow" target="_blank"> Here's how</a>.