It’s a well-worn route for property investors – buy a regional property at a low cost with a good yield, then sit back and wait on the capital gains.... In popular opinion, it’s a straight-forward road to property success. Except when it doesn’t work out. And then the goldmine becomes a liability.
That situation is one Auckland investor Hamish Duke is all too familiar with. He went down that path with his first foray into investment in Southland. It didn’t go well for him, almost derailing his investment journey. But it was not the end of his story.