Have you tried ringing the local council building and planning department and asking which surveyors they like working with?  That'd be a great recommendation.  Also you can get onto the council website and view recent approvals.  Which surveyors are marked on the successful ones, and which surveyors are on the unsuccessful ones?

Why don't you give Wyndham Council building & planning department a call and ask for some guidance. 

You really must be very careful – you will have to pay stamp duty to purchase the land, and you will want to be very sure that you will be able to do what you hope with the land (you will want to ensure there are no sewer pipes that you cannot build over the top of, for instance).  You will also need to ensure that your intentions will not be met with resistence from council.  Get onto the Wyndham Council website and have a read of the Section 55 document before you call them.

As to whether people will be interested – I assume you mean in buying the units from you?  First make sure council would allow you to split the titles, and under what conditions.  Then, research research.  How long have you been watching the Wyndham market to see how quickly properties sell… what kind of properties… and for how much.

Remember there will be fees payable to the real estate agent on the sale, and capital gains tax on ALL the profits if you sell them within 12 months, or a 50% discount if you hold them for longer than 12 months.

No worries.  Be sure to get a Quantity Surveyor to produce a depreciation report for you.  It will enable to claim a bunch of money back on your tax return – particularly since it is a new house .  And of course, keep records of everything you spend (stamp duty included).  It all becomes relevant at one point or another.. even if it is years to come if and when you sell, to reduce the capital gains tax bill.

Is the self-contained ground floor currently billed separately for electricity, gas and water?  If not, then the only way to get a tenant to pay for these services is in an "all-inclusive" rent.  If renting the place out, your friend will want to have an awareness of the decision this impact has on Capital Gains Tax should she ever decide to sell.

If you want to sell the ground floor flat, the services will absolutely have to be split, and this comes at a price.  Has your friend had a chat to the local council building & planning department about her options, and the likely associated costs?

No, I understood your post – each of these concepts are applicable to investment properties.

Vendor Finance means the seller of the property loans you some of the money (in other words, helping you with the piece of deposit you don't currently have.

Rent to Buy, or Rent to Own, means you rent a place for an inflated rent, and buy it later for a pre-agreed price (where the inflated portion of the rent is deducted from the purchase price.  You then ON-RENT the property to a tenant.

Another option might be to purchase a piece of land, then build on it when you have the cash.  Not a great option, since the investment would not generate income, and therefore you cannot claim the "loss" of the interest on your tax return.

Have you looked at suburbs that offer homes for under $200k?  Where are you located?

In my opinion, it would be best to clear that personal loan with CBA before you acquire a property investment.  (What is this debt for, by the way?  If it is for a car, had you considered getting a car on a novated lease instead as a means of reducing your taxable income?)

After that, focussing on an investment property would be a great idea!  Remember you don't necessarily have to buy in an expensive area.  Depending on what suburb you target, you might even be able to pitch in 20% deposit (considering your 2yr timeframe)

Where are you located?

Hi.  My PPOR was a house and land package in Hoppers Crossing.  I wasn't into investing as such back then, so didn't bother to check what the place was worth after only 2-3 years.  I will say, however, that in 10 years it nearly tripled in value.

Things to consider are:

You will have to pay interest all by yourself while it is being built.

I'm uncertain where you will stand on the matter of claiming expenses (eg interest) if the property is built in a particular financial year, but it receives no rent in that financial year.  If it is the case that you can't claim expenses if your property earns no income in the financial year in question, then you'd want to be very careful about the timing of such a project.  Perhaps someone else can comment on this point.

Your house and land package may not include landscaping.

Do your homework on vacancy rates – they are quite high in the Hoppers Crossing/Tarneit area at the moment.

Like for any investment property, you'd want to ask yourself the question of how long you could afford to hold the asset if you had trouble getting a tenant.

Remember that you get a capital gains tax discount (50%) if you hold the asset for more than 12 months.  Do your homework on when the 12 months commences (eg at signing of contract?  or upon completion of the build?)

Can I ask:

What sort of property is it?  (House/townhouse/villa/apartment)

Does it have double-glazed windows?