£50k invest in property development whilst living in NZ for 1-2 years?

sideysid

Hi everyone,

I apologise in advance for my lack of inexperience in this area, and am hoping I've posted in the right forum to get some advice from the IFA's and suchlike on here.

I have recently split from a relationship, and sold my house in which my proceeds after paying up debts were £50k. I am now planning to travel to New Zealand in May to join family and friends, once my notice period at work ends.

I have so far put the money;

Icesave ISA: 3k
Newcastle Building Society - Instant Access Savings: 45k
Yorkshire Building Society - Regular Saver: Drip feeding £500 a month from the Newcastle account.

I have a very close friend in New Zealand however who owns 3 properties, and his family develop full time, all their own conveyancing etc. He has offered if I wanted to invest into another development with him, he would free up some capital from selling one of his existing properties, then we would sell the development once I return home. Now although this may sound very vague with no buisness plan yet in place, but I would obviously research once there.

I would be keen on this idea, and would have a lot of time while out there to concentrate on a development, once I have gotten advice from a IFA out there.

I would however like some input and views from others however, so experiences would be appreciated.