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What direction from here?

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  • What direction from here?

    Dear All

    Have found this web-site very useful over the last couple of months and have decided to air my dirty laundry on the forums.

    I am in a situation where I finished with my own business at the begining of the year, and a friend of mine from the UK approached me about getting involved in the property market in NZ. I am in a position where I can dedicate some time to this as my partner is earning a good salary at the moment and I was looking at a change of career anyway.

    After discussing at length what both my friend and my goals would be, provide a modest income for myself initially, long term income for both of us with bonus of capital growth over the long term we decided to proceed with some research. My friend in the UK would have very little imput in the business but is willing to throw a 100k at the venture for now. No interest would be paid on that money.

    Over the last couple of months I have seen so many changes in the market it is hard to decide where to start - buy and hold (getting harder to locate positive cash flow properties in Auckland), buy - do up and sell, build or put it on the red at Sky City (joke). The original idea was to buy positive cash flow properties with myself managing them - but like I said they are few and far between at the mo.

    I guess i was looking at getting some sort of advice from you seasoned investors as to what you may think is a good course of action to take given the above situation and the present state of the market.

    Thanking you in anticipation.