INVESTING
Skipping any one of these steps or not following the correct procedures could lead to costly mistakes down the road . To make sure this does not happen to you here are the 5 pitfalls that you need to avoid .
5 Big Investment pitfalls to avoid
01
Not doing enough research .
than sound business sense .
03
Overextending yourself financially .
Real estate investing can be expensive , and it ' s easy to get caught up in the excitement and overspend . Be sure to set a budget and stick to it , so you don ' t end up in a financial hole .
Before you dive into any real estate investment , it ' s essential to do your due diligence properly and thoroughly . Start with researching and understanding the market , the property , and the potential risks involved .
02
Failing to set a clear strategy .
To be successful in real estate investing , it ' s important to set clear goals and develop a plan to achieve them . Without a strategy in place , you may end up making decisions based on emotion or impulse rather
43 APRIL / MAY 2023 SA Real Estate Investor Magazine