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The most common mistakes new property investors are making

Property can almost be considered the ultimate risk-reward investment - for every success story and pathway to financial freedom, there is also a tale of catastrophic and costly failure. Buyer’s agent and author Lloyd Edge shares the most common mistakes made by first-time investors.

Stressed couple looking at documents
Property investing can be anything but a smooth ride if common mistakes are made. Photo: Shutterstock

Property can almost be considered the ultimate risk-reward investment - for every success story and pathway to financial freedom, there is also a tale of catastrophic and costly failure. Here are some of the most common mistakes made by first-time investors.

Not having a plan

Even in a booming property market, you can’t just buy “any” property and instantly retire. Sure, you may earn some cash in the short term if you’re lucky, but it will get …