Hi, I want to buy my first Investment property and trying to be a bit cautious about the first purchase, I do not want to buy an expensive one. Could someone please provide advise on the idea of buying a land in Werribee, Victoria of say 165 sq m and build a townhouse of that costing all in all around 265- 270k. I am thinking of paying 20% LVR on that saving me LMI and also less stamp duty on over all build. In an year or so, after gaining some confidence and getting some equity in the townhouse and my savings, I can look for a better investment property. 2 thoughts in my mind: 1. This will give me some instant equity perhaps as similar tounhouses are sold by developers above 300k in the same area. 2. Since I will be paying 20% LVR, it will give me some positive cash flow. I am a newbie so please don't be harsh if the approach is not right Thanks in advance!!!