Saturday Summary – the most interesting articles I’ve read this week (2014/06/07)

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.

What Is Tripping Up New Property Investors?

According to Mortgage Choice’s 2014 First Time Investor Survey saving for a deposit is not the biggest challenge for people purchasing their first investment property.

Instead, finding a suitable property is the hardest trial facing property investors today.

 “When purchasing an investment property, investors look for a dwelling that is not only located in the right suburb and is close to essential amenities, but also a property that is located in an area that has proven high tenant demand.

“For investors, it seems location is everything. A property that is located in a good suburb and near the necessary amenities including cafes, restaurants and local transport, is likely to attract more tenants, which can help to increase the rental income generated by the property.”

“More than 60% of recent investors admitted to purchasing either a small house (1 to 3 bedrooms) or a small unit (1 or 2 bedrooms) because they know these types of properties are in the highest demand,” she said.

 

Where are we on the property clock? | Why some renovations flop | Which property markets are declining | A day in the life of an Auctioneer | More on Cross Collateralisation

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:
Louis Christopher shares some good and bad news – some markets are in decline while others are booming
Jane Slack-Smith explains why so many renovations, especially those done for a quick profit, can become a disaster
John McGrath gives us some questions you should ask your agent when your property is not selling
I answer a question from Carrie about how to identify where we are on the property clock

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.

 

Sydney Rents Leap – Pete Wargent

With all the fuss this week about house prices falling in the month May, in his blog regular Property Update Blogger Pete Wargent reminds us that this is a normal seasonal slowdown which has happened over the last 3 years as the following graph shows:

 

Road to riches paved with good habits

So you want to be more than just rich in experience – seriously cashed-up?  The Sydney Morning Herald suggests you need an independent investment strategy anchored in canny habits including these:

1. Brain gain One mark of millionaires and billionaires is that they seek and follow professional advice. Then, after asking for suggestions and grasping the issues, successful capitalists act decisively – if they feel they have a broad-enough view.[sam id=43 codes=’true’]

2. Humbly inquisitive – successful investors are never too proud to ask questions when in the dark.

3. Constantly crunching the numbers Successful investors consolidate their position by staying focused on tax strategies and financial issues.

4. Visionary zeal The gains adventurous investors reap stem from passion for the work they do. Instead of just working for money, they find out what they care about, then explore how to profit from their passion.

5. Social spin Canny investors are all the more effective because they nurture relationships.

6. Super-organised Prosperous people know time is their most precious commodity, so tackle priorities, remaining ready to delegate, which frees up more time.

7. Integrity A final wealth habit is old-school: trustworthiness.

 

7 Cardinal Rules In Life Everyone Should Know About

Lifehack shares 7 cardinal rules in life:

1. Make peace with your past, so it doesn’t spoil your present. Your past does not define your future – your actions and beliefs do.

2. What others think of you is none of your business. It’s how much you value yourself and how important you think you are.

3. Time heals almost everything, give time, time. Pain will be less hurting. Scars make us who we are; they explain our life and why we are the way we are. They challenge us and force us to be stronger.

4. No one is the reason for your own happiness, except you yourself. Waste no time and effort searching for peace and contentment and joy in the world outside.

5. Don’t compare your life with others’, you have no idea what their journey is all about. If we all threw our problems in a pile and saw everyone else’s, we would grab ours back as fast as we could.

6. Stop thinking too much, it’s alright not to know all the answers. Sometime there is no answer, not going to be any answer, never has been an answer. That’s the answer! Just accept it, move on, NEXT!

7. Smile, you don’t own all the problems in the world. A smile can brighten the darkest day and make life more beautiful. It is a potential curve to turn a life around and set everything straight.

 

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:

[Video] The latest property news with Kevin Turner | 4th June

Sydney leads a strong week for the auction sales across capital cities- Robert Larocca

Heat is coming out of the property market as stock levels increase – Louis Christopher

Does Sydney have the best long term property investment prospects? – Pete Wargent

How seasonal are dwelling prices?- Michael Matusik

RP Data Index shows capital city dwelling values fell by 1.9% over the last month- Tim Lawless

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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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