Add New Sites problems

I created a test site for my live site. I went through the process of enabling it for multi-site and all the proper menus show up. Then I created a subdomain site (its set up for subdomains). It shows up on my admin panel as having been created. However, when I try to go to the backend, the browser says:

Oops! This link appears to be broken.
Also, if I try to the front end of the subdomain site, I get the webhost default page. I thought it might be that I forgot to set it up for wildcards, but checked out. Any ideas?