Thanks everyone,
the land is actually in N.Z,  and costs almost nothing (under $10, 000), so repayments, etc are not a problem. I was just thinking, that unless its a toxic waste site, how can I lose- even if I couldn't sell it- or sold it for less than I paid, it wouldn't be a big deal, and if I made a profit, then even better. I'm pretty unlikely to get any kind of loan at the moment for a house I think, so this seemed like it might be an option.