5. NOT DOING YOUR HOMEWORK
Understanding property markets takes time.
And getting to grips with the cyclical nature of real estate is something that even eludes many experts.
So don’t think you can attend a seminar or two, or read a couple of books and have a handle on exactly what to buy.
You need to know the neighbourhood you intend to invest in like the back of your hand.
Make yourself completely familiar with any given area by pounding the pavement and talking to the locals, real estate agents and property managers.
Find out all about the amenities, vacancy rates and historical values of properties in the area.
When you know the area, get to know the street you intend to buy in and the property you intend to buy. You can never know too much about your investment!