Temptation for a quick buck or sky-high guaranteed yields can often result blowing your hard earned cash in the blink of an eye! The first big mistake most newbie property investors make is adopting what I call the HMIS approach. HMIS is a simple acronym for Herd Mentality Investing Strategy.
Simply put, this investor only makes a move once he/she sees others earning returns hand over fist and fails to realize that the market is beginning to reach maturity or even it's peak when this is happening. When in reality this is probably a signal to start selling - not buying!
Another huge error is lack of proper research and due diligence.