Which INVESTMENT will give me a BETTER deal?

Hi there,

I have gotten just $60k cash at hand. For some reason, I cannot settle down before 2009 February.

So, I plan to invest in a land. I have two options:-
1) Purchase a 213 square metre land (rear block of two units) in a court location in Werribee, 5 mins drive to Werribee train station and Werribee primary and secondary college etc. Walking distance to massive shopping complex.
Price: $70k. I have to take a loan of say, $15K. I can only pay off loan around $120 per month, which has been acceptable by the bank.

2) Purchase a 700 square metre land in Warragul. Very near to Princess Freeway (less than 1 minute drive). It's under a new estate, stage 1 phase.
Price: ONLY $60k. I don't have to make a loan, woohoo! Got exactly $60k cash at hand.

This a just an INVESTMENT. I will DEFINITELY sell the land in 2009 February.

My question, which property will give me a BETTER DEAL?

Thanks for your patience and response.

This question is OPEN to people living in AUSTRALIA in MELBOURNE.

forget land you would be better off investing it in securities or even in the bank.

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