“Some people are born to lead” how many times have you heard this saying? I’m sure many times! Some people can’t work under other’s pressures (they feel like ruling or taking decisions for everybody probably because they love to lead) while some can’t work like a leader. Every human is different from each other. However in practical life a person, who has the ability to lead, succeeds.
Whether you are an owner, manager, principal, house wife or man of the house, you need to have leadership qualities in order to lead your team. This is very important and that is why today I will share some basic qualities and characteristics of a successful leader and why he is unique.
The following are the qualities of a successful leader:
• The most foremost quality a leader should have is to have patience to listen to what his associates say. A healthy communication between a leader and assistant requires feedback about what they feel. The leader should have the capability to hear & understand what his or her team says. All successful leaders are the best listeners!
• Successful leaders realize that there are mistakes, are open to changes and they also appreciate and acknowledge their team member regularly. This motivates the employees and makes them love work.
• You must know all of your customers and employees. A successful leader knows about every individual working in his workplace. He knows that if he keeps a good relation with his associates etc, then he will be trusted and he himself will know whom he can trust.
• You must have heard “opposites attract”, well in my view they don’t! People who think alike, do things alike actually get along well. A successful leader would try hiring those employees who think like them.
• Leaders actually know what they are best at. They know what they can do and they act like role models and then they ask others to do the things in the same manner. Moreover a leader knows what he is NOT good at and has everybody work in a team so its better that a leader knows what area he excels in and can delegate to others.
• Successful leaders are optimistic and they believe in themselves.
• Passion is something which makes a leader successful.
• Lastly successful leaders are the ones who wait for the results after putting in loads of effort.
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Over the past couple of months, I’ve been trying to tell you that the Commercial Real Estate wave is approaching, now it looks momentum is picking up:
From http://www.sfgate.com
Richmond, VA (PRWEB) November 17, 2010
After stumbling around on a wet playing field for three quarters, trying to establish momentum despite being mired in a soggy economy, the commercial real estate market has finally found its rhythm and is ready to snatch victory from the proverbial jaws of defeat. According to “Fourth Quarter Comeback,” the latest podcast produced by John B. Levy & Company (available online at www.jblevyco.com), institutional investors have switched from defense to offense, sending a clear signal to everyone on the sidelines that buyers have taken the field and that the outlook for the commercial real estate market is healthy.
“The real bright spot in commercial real estate is that CMBS 2.0 – the updated version of the old CMBS that fell off a cliff in 2007 – is back, and that’s no hype,” says Andy Little, partner at John B. Levy & Company. “We’re actually seeing a lot of deals getting done, and there’s a whole new depth to the market. While some businesses might look at the results of the mid-term elections and think we’ll have a lot more clarity going forward,” Little adds, “I believe we’ll have a lot more gridlock. Either way, commercial real estate is going to come out of all this just fine.”
One of the reasons Little is optimistic about the health and stability of the market is that he sees a pricing efficiency in place. Today, CMBS lenders are pricing loans within 5 to 10 basis points of each other. Six months ago, even three years ago, differences in loan prices ranged from 25 to 50 basis points. This tighter range of prices indicates that there are bond buyers in the market for CMBS securities and that there is a depth to those buyers.
“The mood of the institutional investor has changed,” says Little. “In the third quarter, investors took the defense off the field and put in the offense, and that move has set the stage for a fourth quarter comeback. What we need now is for banks to get back in the business of lending. There’s always a necessary tension between fear and greed that drives the market,” Little explains, “and banks need to stop operating in a fear mode and start working in the greed mode.”
Three of the four legs of the commercial real estate finance market are strong. Life insurance companies are actively lending, as is CMBS 2. The government sponsored entities – Fannie Mae and Freddie Mac – have remained strong throughout all this turbulence. The problem, according to Little, rests with banks. On the whole, banks just aren’t lending, and records show that they are still shedding real estate loans from their books.
“The top 25 banks – JP Morgan, Bank of America, Citibank, and the like – they’re going to lead us out of this,” says Little, “but it may take the next three to six months. But the smaller banks, the community banks . . . they’re another matter. Community banks are the ones who have the construction loans, who were doing retail. They are still heavily concentrated in real estate loans, and that problem will take some time to clear.”
Are you convinced yet? Hop on with me and my students and grow wealthy in this economy before it is too late! Call the office at 781-878-7114 and mention this article and my strategists will give you a free strategy session to see where you are in your real estate education and where you need to be next to be able to capitalize on this opportunity!
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Another article that you should find interesting:
From http://www.smartmoney.com
When Jana Sestili and her husband decided to move with their two children to a larger house in the Pittsburgh suburbs, some people thought they were taking a foolish risk. The refrain, says Sestili, was simple: “I don’t know how you’ll do this in this market.” But the couple ignored the doubters and forged ahead anyway. They sold their house for their asking price of $329,000, well above the $213,000 they’d spent to build it nine years ago. And they plowed the proceeds—and then some—into a four-bedroom, $400,000 dream house, complete with an in-ground pool, a brand-new kitchen and 4,500 square feet of living space. “For what’s in the house, we got a great price,” says Sestili, an official with the University of Pittsburgh’s alumni association.
It’s tempting to listen to the neighbors or glance at the latest headlines (foreclosures! falling home sales!) and cower on the sidelines of the real estate bust. But some folks are looking past today’s uncertain economy and concluding that in a number of markets real estate deals are just too good to pass up. Indeed, some housing experts have been arguing for two years now that with the combination of lower home prices and rock-bottom mortgage rates, the cost of buying a home is lower than it has been in years. David Berson, chief economist at the PMI Group, says that during the boom, the median sales price for a U.S. home reached 7.3 times disposable per capita income; today that ratio is five times. “Things are amazingly affordable,” he says.
Of course, just because homes prices have declined doesn’t mean they can’t go any lower. While careful buyers can find bargains in almost any market, experts say some cities look a lot better than others. According to PMI’s risk index, which uses measures like economic conditions and family income to predict the direction of home prices, more than a quarter of the country’s 381 metro areas have less than a 30 percent chance of seeing lower prices two years from now. (Pittsburgh’s risk: a modest 12 percent.) And many of them happen to be in the Heartland. That’s partly because while the coasts were booming, housing prices in much of the Midwest and South advanced at a slower pace, so they didn’t have as far to fall. Some of these places are also benefiting from a welcome dose of good news about the local economy, whether it’s a new ballpark in Omaha or a growing regional shale-gas industry bringing jobs to Pittsburgh.
Nationwide, the picture is fuzzier, with every shred of good news seemingly countered by bad news. Inventories of unsold homes are down 13 percent from their peak, but there’s still a 12-month supply at the current sales pace (in a healthy market, it’s more like a six-month supply). The government’s tax credit for home buyers helped for a while, but sales fell when the credit expired. Default notices have declined from their April 2009 peak, but they still approach 100,000 a month. Amid the crosscurrents, even real estate experts are stumped. “I don’t think anybody knows where the market’s going in the near future,” says Yale economist and housing guru Robert Shiller.
Years from now, of course, we’ll know the exact bottom of the housing market. In the meantime, experts say buyers can mitigate their risk by looking at markets with steady economies and low odds of falling prices. We scoured the numbers to find metro areas that appear to be past their bottom and where unemployment—a key measure of real estate health—is below the national average of 9.6 percent. The result: 20 metro areas where things may finally be looking up.
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The Senate and House voted in favor of extending the first-time homebuyer tax credit. As you know, the legislation extends, through April 30, an $8,000 first-time homebuyer tax credit and creates a new $6,500 credit for homebuyers who have been in their current residence for the last five years or more.
The Senate unanimously voted Wednesday night (98-0). The House just passed the bill this afternoon (Thursday, November 5th) (403-12).
President Obama is expected to sign the legislation tomorrow, Friday, November 6.
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Despite the current slump in the housing market, it can be an attractive time to acquire funding for a real estate property. I made my move into the real estate business at a time when it was “risky” and not a sure thing, but I have comprised systems that allow me to not only survive the slump, but profit from it. We all know the time to buy is not when you hear everyone saying it a great time to get in the market. We want to get in before that. I had a mere $800 to my name when I decided I to make real estate work for me. There are many ways to go about funding your next real estate deal, but today I would like to focus on grants, private investors, sellers, liquefying assets, and loans.
Grants:
The government dishes out millions of dollars each year in grants to those seeking funding for real estate ventures. This is mainly because one of the government’s main duties is to provide housing for U.S residents. Not only are the grants there to help the brokers, but also acts as an outsourced entity for the government. There are not only federal grants for which you can apply, but also state level grants as well.
Private Investors:
If you can be provided with an opportunity to sit down with someone who is willing to entertain putting forth a little investment capital for a possible venture, wear your best suit and tie. Have a professional proposal detailing your outlying costs and show the bottom line of your profit margin. Chances are your investor will be looking for a faster return on their money than a financial institution will.
The seller (can you believe this?):
Yes, you can possibly obtain the money needed for a property from the seller. It may benefit the seller more to finance your purchase than to maybe face foreclosure. In some instances the seller is willing to add additional money to the price of the property to account for the down payment and the closing costs. This additional money may need to be covered in a certain time period such as a deferred down payment. It will increase your interest to carry that extension on your balance; however it will buy you some time to earn more capital.
Liquefying any assets:
If you feel strongly about entering in to the market and have tried other avenues to obtain capital; you may think about liquefying any available assets. You can cash in any stocks, bonds or other savings. Also you may contemplate turning over your 401K in hopes that you can replenish your retirement fund with a much more lucrative investment in larger sums. Especially if you can invest then into a CD account which yields higher interest. However, seek professional guidance before making this move. We always need to think through our investments from how to get a deal to the proper exit strategy!
Loans:
If all else fails, it is still possible to obtain an investment loan from a bank or credit union. You may be required to possess a higher credit score and/or have substantial collateral to convince the bank to fund your venture. In this instance you may or may not receive the full amount necessary, and will also need to consider the interest rate that will be assessed above the loan. This will be essential when completing a bank proposal.
The right way to fund a deal is different for each circumstance. As a professional investor it is important to be able to use all the tools necessary to get the deal done. Understanding all your options enables you to be the investor that gets the deal done. Once you establish yourself as a closer the deals will start to run to your door.
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Dave introduces the newest member of the RE Mentor Team.
CLICK HERE FOR YOUR FREE COPY OF OUR SPECIAL REPORT
“23 Costly Mistakes Real Estate Investors Make And How to avoid them!”
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