New to property investment - Where and How?

[DavidMc]

Alex I don't find your posts to be negative at all, I appreciate your cautious logical approach to investing.

So do I.

2. Also I think I have to pay land tax. How much is that approx for a 500-700 square metre?

If you buy the land in an individuals name it will probably be under the threshold and you will not have to pay any land tax in Victoria. From memory the threshold is around $250k but I could be wrong. If you buy it within a trust you will have to pay some.

What is a trust you ask? Time to hit the books again... Having said that, IMO I wouldn't confuse yourself with trusts with your first purchase. While most people say 'they wish they knew about trusts before they started' the benefits of a trust does not outweigh the potential to become overloaded with info and not taking that first step due to analysis paralysis.

 

[want2bewealthy]

Id steer clear of buying land as a first investment purely because there are many more rebates available on housing and not to mention the rent you receive in the mean time.

 

[boods99]

I dont think that guys coming back...

...Which guy??