5 Investing mistakes that can deplete your wealth...

5 Investing mistakes that can deplete your wealth...

Property can be a thrilling venture to take part in.

But for those who aren’t familiar with the concepts and strategies involved, it can also be full of potential traps that could cause you to lose more than you gain.

To better prepare you for to potential pitfalls at play, here are some of the problems commonly faced by the novice investor – along with some compelling reasons to avoid them:

1. Getting too attached to a property

Often, first-time investors get carried away in the excitement of becoming landlords, prompting them to purchase property based on what’s in their hearts, rather than what’s in their head. To continue reading, please   click here . 

2. Suffering from FOMO (fear of missing out)

When the market is running hot, many inexperienced people will buy anything within their reach because they’re worried they’ll miss the boat.  To continue reading, please   click here . 

3. Coping with analysis paralysis

This is the opposite of FOMO, but it’s just as common!   To continue reading, please   click here . 

4. Falling prey to false bargaining

If you bought a property for $500,000 when the asking price was $550,000, would you consider this a bargain? To continue reading, please   click here . 

5. Swimming with sharks

There is a huge amount of money to be made in property advising, which is why it attracts its fair share of shady characters. To continue reading, please   click here .

Source: propertyupdate.com.au