Invalid path on new Git installation

[Marcus <prima@wordit.com>]

Can anybody help me with defining a valid path to a Git repo on a new
installation?
I just built Git on a webserver (a VPS so I have root access). When I
try clone or push I get this error:

fatal: '/git/watchsite.git': unable to chdir or not a git archive
fatal: The remote end hung up unexpectedly
fetch-pack from 'ssh://me@mydomain.com/git/projectname.git' failed.

Why this when I can use wget on this path:
wget mydomain.com/git/projectname.git/file.html
The above successfully downloads the file, so the path is valid, right?
I also did "git init" on the remote repo (not sure if that's necessary?).

I tried the following commands locally and all fail with the error above:

git clone ssh://me@mydomain.com/git/projectname.git/

git clone http://mydomain.com/git/projectname.git/

git push ssh://me@mydomain.com/git/projectname.git/ master


Is there a syntax error or something I need to set up on the remote server?

Thanks,

Marcus