Where do I fit in this present market?

It is often hard to know when it is the right time to make an investment decision, especially if you are a newbie saver, a first or second time investor, or have a big mortgage to pay, and so on. Also these decisions have to be made in consideration of ages and marital status plus the ability to pay the debt.  In fact, recently I have heard how young people got started into the market by pooling their savings and that can work in the first instance to get you started.  This is a good move for a few years until the capital increases enough to be able to sell at a profit.  By going down this pathway I have a few suggestions:

1. Make an authorised agreement that would cover things that might become contentious as time goes by.
2. Choose your partnership knowing both/or a third party are responsible and solid workers.
3. It is a good idea to partner with a person with similar financial personality and goals (not a spender and frugal person together).
4. Put a limit on the time frame, say 5 to 8 years, to give the partnership the chance to split and go their own way.
5. Write some notes about the pros and cons of this arrangement and try to discuss them openly.

There are lots of variables to this idea, however, even if it means sharing the property in the first instance, and plan the property purchase with this in mind, particularly if both are renting at the moment.  Keep reminding yourself it is a business deal, as others can often come along and try to undermine the plan. 

It can work to your advantage and must be dealt with like a business deal in spite of the fact you might be friends with your proposed business partner.