Direct Participation Programs are being sold to investors who want to invest in real estate investment trusts. However, they are not fully regulated and, most important, are not as liquid as a diversified mutual fund or ETF that specializes in real estate investment trust holdings.
What is more, Direct Participation Programs generally have high sales commissions and their management fees are exorbitant.
This is yet another instance when it is best to stick to plain vanilla investments and to avoid the sharp pencil, brainy guys on Wall Street.
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