Advice for what I could do please

I'm 25yrs old in my 2nd yr of fulltime work after 6 yrs of fulltime study.
I have 50k saved in the bank. 5k in shares (just started). Annual salary 60k, expecting to get to annual salary 70k in the next month.
I'm likely to reach 90k salary end of next year and stagnate there.
Recently had a major life change and began to really look into using the time I have as a 20something yr old to maximise the amount of money I have.
Now, I'm not sure how I should invest my money- in terms of percentage in cash, shares, property, etc
I've just moved back to Perth (grew up in SOR Perth) after living in Sydney.
In Sydney, places like Chatswood and St Leonards amazed me with apartments + prices + convenience of these locations.
I've had a look at Perth- I've seen Cannington is looking at city planning that I can imagine is aiming to be like Chatswood and there are apartments being developed there. I would be a FHOG or at least a first home buyer. Is it worth it to get one of those apartments?
I wouldn't have to live in the property I buy for at least another 1-2yrs.
Is it just better to get a house or unit with land that I can afford? I'm more familiar with south of river suburbs. If I get a land property in an okay area, will it still be a good investment at this stage?
I'm wary that the WA government also recently announced the FHOG is dropping down to from 15k to 10k by July1.
Any advice is welcome.
Thanks.

 

A semi-mantra I've seen on the forums is that Land Appreciates, and Buildings depreciate, so I would suggest some land under your first purchase to hopefully catch some CG along the way.

 

Like most mantras, this is not always right and should not be followed blindly.

Some of our greatest capital gains (percentage) have come from units, well located within a building or complex in a good location.
Marg

 

IIRC there is an apartment oversupply in Perth ATM?

 

Imho what you need right now is to learn the basics of real estate investing. Goals, strategy, cycles, drivers, how to put a team together, risks, traps etc. It will greatly reduce your overall risk and most likely help you build wealth in real estate faster.

Just imagine you go into surgery not having spent any time doing the study. Luckily for you real estate investing is much easier to learn than medicine, but you do need to learn the basics (3-6 months) to do well long term. Asking questions on here is good but you will get a million and one directions. Study the basics via some good books, then combine your new knowledge by networking with successful investors on here and you will put yourself in a very good position to do well and eliminate many avoidable nasty traps. Approach investing in a systematic way and you will have a much greater chance to succeed overall.

Just my opinion.

 

Thankyou for your advice.
What are considered quality/credible advice books to read? For sharemarket I used the Asx online course as something credible.
I have read through ASICS smartmoney website.
I grew up in a family with no investment strategy or interest so everything is very raw to me.
On a sidenote: Ive found investing a more difficult topic to understand than medicine topics.

 

This forum is great for property info - as basic or as detailed as you need. Money magazine has a wide variety of basic and more detailed info on almost every financial subject. I just finished reading the Barefoot Investor book - its not a bad start just to get your head around basic info. I had no "financial education" 10 years ago but I started reading basic finance books, money magazine, various finance websites (mr money mustache is pretty interesting), started investing in a few shares etc.

 

I don't have time to post particular books now but search this forum for recommended RE books, mostly by Australian authors. IMO they give a good foundation to most of the topics.

 

start with
go to your local library and read/borrow every book and magazine on the topic, don't have to be picky or particularly well written just read them all
download the many free podcasts that'll give you idea on what topics are current or questions often asked

 

I found these good:
1. The barefoot investor: the only money guide you will ever need by Scott Pape
2. My 4 yr old the property investor by Cam Mclellan

Other regularly mentioned authors are Steve McKnight, Margaret lomas, Michael yardney

You can listen to podcasts too. I regularly listen to the property couch and onproperty as just two of the many options available.

This forum is the best most concentrated form of information you will find. Better than any book or podcast.