Am I Doing The Right Thing?

Hi all,

Hope everyone is doing well!

I’ve recently decided to go ahead and get approval for a second property purchase but only for land this time (hoping to build a house on it and rent it out in due course) around the 300k mark.

I’m 24 and currently have one house with a rental yield above 10%. My super currently sits at 43k and I’ve got 20k in managed funds and another 15k of non financial assets.

I’ve been lucky in that, my LVR has decreased a lot in 3 years since building due to the house prices in that area and I’ve released equity from my current property and used that as a deposit towards the land purchase.

Not sure if I’m doing the right thing and wanted to ask for any general guidance, opinions or general advice which would be great!