6. BUYING THE WRONG PROPERTY
Failing to do the above will inevitably lead to this big investment blunder!
By knowing your market, you will know what property to buy.
In other words, are you investing in a suburb that predominantly attracts families or young, single professionals?
The demographic of an area will make a big difference when it comes to what type of property you buy.
If you’re in a family market, you wouldn’t invest in a two bedroom apartment, whereas if you were targeting a young, childless tenant base, you wouldn’t want a large, family home.
The bottom line is – know your market and buy accordingly.