Wednesday, April 23, 2014

We are out buying...how about you?

It seems you never really know with any certainty when the best time to jump back into the property market may be, but if you do nothing, then expect nothing in return.

Suzannah took the big plunge and purchased her first residential property last week. After attending auctions and missing out, she finally got one. Now she's just as nervous as she is excited. Suz has been running around this week sorting out her finance, insurance and preparing for settlement.

'Post Purchase Blues' where the doubt and bittersweet emotions kick in, need to be experienced to be fully understood. These feelings are swiftly followed by the flashes of 'What if?'. What if unemployment jumps? What if interest rates skyrocket?  What if I can't afford the repayments? What if property values fall and don't rise? What if the state is actually financially crippled? Holden, Roxby, closures, bankruptcies, and the list of 'what ifs' become overwhelming. When I was sick they called this 'catastrophising'. Well life will just pass you by if you don't take it on, so I say, go for it Suz!

And there is more happening in the Toop family: Over the Easter break Sylvia was back in the field, this time as a buyer, looking to buy something really cheap to add to our personal portfolio. If you were down at the Fleurieu you may have run into her....I was in lock up finishing off my book 'The Business of Landlord'!

Genevieve spent the weekend working in her new garden with her partner Tom, putting up their new shed and fence. Backyard Blitz has nothing on the Toop family at the moment. We are all backing ourselves and investing in South Australia and 'our own back yard'.

While the rest of my family is getting stuck into their projects, I hope to have my book about being a landlord launched around the end of the financial year. Toop&Toop have over a billion dollars worth of client properties under management and having been Hall of Famed and continually winning the 'best management' REISA awards, I feel passionate about sharing my 38 years of experience in property with anyone who is interested. It has been an enormous task and while I am not convinced I am an author (nor is Sylvia), I'm giving it a red-hot go.

It has been really tough trying to put the knowledge and experience of so many years down on paper. Even if the book is a flop, I will take comfort knowing that I have downloaded my thoughts – here's hoping it reads ok when it goes to print!

There's always more to learn and things are still changing. As part of my ongoing learning I'm flying to Shanghai on Monday with 20 other principals from around Australia to attend the Shanghai Real Estate Expo. I am one of just two from South Australia attending with the who's who in property, so I am feeling honoured to have been invited.

In Shanghai we will get first hand, up close and personal briefings as to where the property market is heading, what part China and the Asian markets will play and learn how best to ensure South Australia is well placed to share in any benefits that flow from it.

For those of you interested in property I'll report back any profound news, but for now...as is clear from our actions and not just our words, we are digging in here at home in South Australia and we are proud to be doing so.

Whether the market is into the next upswing cycle or not, we are here for the long term because we personally love property. The Toop family and Team Toop really are passionate, not just about property, but also about South Australia.

The Toop Team is mixing with the best in the world and proud of it.  Stay tuned and if you want a copy of my book when I finally finish it, let me know.

Loving property...

Regards,
Anthony Toop

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