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Five costly mistakes first time property investors need to avoid

First time and inexperienced property investors stand to lose thousands of dollars if they fail to avoid the five most common real estate investment mistakes.

Happy young couple hug on driveway of new home.
To make sure that first property investment is all smiles, it pays to be aware of some potential pitfalls that await the unwary. (Image source: Shutterstock.com)

First-time property investors should be aware that there are several common mistakes that can be detrimental to their investment success.

A lack of experience in a complex investment field can cost thousands, even tens of thousands of dollars, if avoidable misjudgements and mistakes are made.

As English philosopher Sir Francis Bacon wrote in 1597, knowledge is power, and nothing has changed in the ensuing 426 years to challenge that notion, esp…

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