China’s balance sheet is ok?
http://www.forbes.com/sites/kenrapoza/2013/01/28/is-china-next-to-suffer-a-debt-crisis/

They’ve actually had to take steps to slow property prices down?
http://m.brisbanetimes.com.au/business/china-moves-to-stall-housing-boom-20130305-2fjfk.html

I like to hope that the Chinese aren’t stupid and are capable of managing their finances a bit better than the yanks and Greeks for eg?

Do people like those at Perth airport do any kind of research before they invest $120m on a new terminal to service fifo demand or have they just built that on a whim?

And if global demand for food is set to increase/double faster than supply can keep up what effect will that have on prices?

Can you increase the rent? Or make any improvements that will justify a rental increase?

Can you refinance or do anything else to reduce the holding costs?

If there’s nothing you can do to improve the situation, I’d suggest having 3 rea’s value the place and work out what it will cost to sell. Work out exactly how much you’ll get out with, apart from the saving you’ll make each week.

Then have a good look around imagining yourself as a buyer with that money and see what else you could achieve with it.

I realise you’re probably off setting that loss against your tax bill but personally I wouldn’t ‘invest’ in anything that takes money out of my pocket each week! Find something that pays you..?

Its not really property investors who are facing foreclosure though typically its first home buyers and low – middle income earners  who are most at risk? 

http://www.brokernews.com.au/article/foreclosures-to-dramatically-increase-143913.aspx

sounds like you turn it into a HMO (house of multiple occupation) ?

For that you need stuff like planning permission (not always easy to obtain as you often need adequate parking), fire doors and smoke alarms to all habitable rooms, sprinklers, emergency lighting, fire extinguishers, emergency procedures etc (pretty much what you need in a b & b) and to put a cleaner in there each week for the common areas (kitchen/hall/bathroom) and maintain the garden?

do you put the property back how it was at the end?

Down 3.8% in 2011 and 0.4% in 2012, does that mean the downward trend is slowing?

If you look at the graph here instead of the media release it shows it in a bit more detail, with units included not just for houses so you get the bigger picture;

http://www.rpdata.com/research/monthly_indices.html

Arnold Scwarzenneger.

I've never been a massive fan of his movies but after reading his book 'totall recall' you can't be anything but inspired by the things he's achieved over the years. Every new year he would write down goals and then pursue them tirelessly. Any normal person would feel successful if they accomplished even one of the below;

Bodybuilding champion. 7 times Mr Olympia – a record that remains unbeaten

Successful property investor/developer

Successful businessman (became a millionaire before the movies)

Author of 6 books

Owned a 747 jet that he leased back to an airline

HIghest grossing hollywood action star making hundreds of millions

Becoming state governor of California

And there's a hell of a lot more than that above including charity work and visiting the armed forces in Iraq and in hospitals etc. Anyone who thinks they work hard might not be so sure if they read his book. It's a shame he fathered the love child and his marriage broke up.

There's more to him than I ever imagined. The books definitely worth a read.

Thinking about it do you have an offset facility on your home loan should probably put the 70k in there to reduce the interest, will still be accessible when you need it?

Why the hell do you want to quit your job, can you survive on 18k a year? Your home loan repayments must be around 14k a year, before bills? Do you have a car?

How will you quit your job but still earn 18k, just work part time?

Are you refinancing ppor to buy investment property or using the 70k cash? Is that the money you talk about overseas or is there more stashed abroad?

I don’t think buying an investment property is too risky as long as you research first but I wouldn’t quit my job so I could keep my income below the minimum tax threshold unless you’ve got so much money stashed abroad you can survive on it. Pretty sure there are no tax implications for living off savings, you’d just get taxed on interest you earn from it.

If that is the case, might be worth paying off your ppor first before you quit working?