Saturday Summary – the most interesting articles I’ve read this week (2014/07/19)

There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.

Each Saturday morning I like to share some of the ones I’ve read during the week.

Enjoy your weekend…and please forward to your friends by clicking a social link buttons on the left.

11 traits all leaders share

In 1937 Napoleon Hill wrote his book “Think and Grow Rich” which went on to become one of the bestselling books of all time.

Here are the 11 traits that Hill found all successful leaders share summarised by Business Insider:

1. They have unwavering courage based on self-confidence.

When leaders have a vision they believe in and know that they are capable of realising it, others will believe in them, too.

2. They have self-control.

This means refraining from overreacting to something either positive or negative, which can give people a bad impression.

3. They are fair.

“Without a sense of fairness and justice, no leader can command and retain the respect of his followers,” Hill writes.

4. They don’t wait for perfect answers to make a decision.

Great leaders practice what Hill calls “definiteness of decision.” This means that they do not defer making a decision until they find a “perfect” answer or reach full consensus. They can’t be afraid of risk or criticism.

5. They work by a plan.

Hill said that successful leaders never operate on guesswork, and that a resolute leader can trump someone who is naturally more talented. “Henry Ford accumulated a fortune, not because of his superior mind, but because he adopted and followed a plan which proved to be sound,” he writes.

6. They do more than what is required.

The best leaders attain a position of power because they outperformed their competition. And if they’re at the top of their field, they maintain greatness by outperforming themselves.

7. They are exceptionally likeable.

8. They are sympathetic.

Successful leaders understand the personalities and problems of their team members. Hill says it’s not a coincidence that history is filled with kings and dictators being overthrown, since “people will not follow forced leadership indefinitely.”

9. They pay attention to detail.

The best leaders set themselves apart by giving every part of their job their full effort, no matter how small it may be. If a lack of attention leads to regular tiny mistakes, their accumulation can become linked with reputation.

10. They assume full responsibility for their team.

“The successful leader must be willing to assume responsibility for the mistakes and the shortcomings of his followers,” Hill writes. The best leaders do not look for excuses to blame others or situations for failures that happened under their watch.

11. They are cooperative.

How to be different and achieve financial freedom | Negotiation tips | How important are auction clearance rates | The problems with Trusts

Another great Real Estate Talk show produced by Kevin Turner. If you don’t already subscribe to this excellent weekly Internet based radio show.

Details of this week’s show:

Rob Balanda, challenges the thought that trusts are a good vehicle to house your property investments.
Dr Andrew Wilson, senior Economist with the Domain Group, says we pay too much attention to auction clearance rates.
Tips on negotiation from Nhan Nguyen.

You should definitely subscribe to this weekly audio program. Click Here It’s free and you can listen on the go on your smartphone, iPad etc.

 

The rental market is benefiting from delays in the age of marriage

News.com.au reported a newly released analysis of research from the Australian Housing and Urban Research Institute that found that because people are marrying later they are also buying their first property later in life.

And this means property investors are the ones benefiting from increases in the age of first marriages, as we are clocking up more time renting

Between 1981 and 2012 the percentage of people owning or buying their home in the 25 to 34-year-old age group, which was the age when traditionally most households bought their first home, dropped by nearly 20 percentage points.

Between 2005 and 2012 the number of renters increased by 78 per cent.

Despite the number of people aged between 15 and 24 increasing by almost 380,000 people during that period, the number of home buyers and owners actually dropped.

 

9 Tips To Guarantee Your Home Loan Is Approved

According to Your Investment Property Magazine things are very different today when banks assess you for a loan.

In recent years, with the move towards automated credit scoring by computer programs with computer programs essentially doing what the humans used to do – making a value judgement on your past performance and assessing your character.

It now means that the lack of a previous credit facility can actually work against you if you’re looking for a loan .

Here are their top tips for getting finance:

1. Get your financial house in order.

2. Be very conscious and look after your credit rating.

3. Pay all your bills on time, particularly bank bills like credit cards and loans.

4. Ensure your savings account doesn’t get overdrawn.

5. Review the structure of any property debts you have. Sometimes a barrier to accessing more finance can be the level of your monthly repayments on your existing debts

6. Reduce your credit card limits.

7. Make sure all your loans are interest only.

8. Avoid being a guarantor for anyone’s loan.

9. Avoid buying property with someone else.

 

Fun weekend video: The Power of Acetates

Using a unique animation technique involving traditional animation cells and his iphone, Hombre_mcsteez turns everyday life into an odd creature infested cartoon universe.

 

8 Ways to Become Rich – Robert Kyosaki

Author of Rich Dad Poor Dad writes there are 8 ways of getting rich. Each one has a price and in my opinion only one is worth it:

You can become rich…

1. By marrying someone for his or her money

2. By being a crook, a cheat, or an outlaw

3. Through inheritance

4. By winning the lottery

5. By being famous

6. By being greedy

7. By being cheap

– The problem with becoming rich by being cheap is that you are still cheap.

8. By being financially smart

Kyosaki says many people become rich by being very smart with knowledge from the B (business) and I (investing) side of the CASHFLOW Quadrant. Many of these individuals operate behind the scenes and manage, control, and manipulate the world’s business and financial systems.

 

Blogs you may have missed this week:

If you didn’t have a chance to read my daily blog, here’s a list of some of the blogs you missed this week:

It’s time to fix Sydney’s transport system

The psychology of successful negotiation – Part 2: Thinking on your feet

Housing Finance reveals rebalancing (just what the Guv’nor ordered)

Australia’s housing markets vs the rest of the world in 5 graphs

Do one bedroom apartments make good investments?

Off the plan properties- is it a bust way to invest? | Shannon Davis



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About

Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's been once agin been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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