Direct Participation Programs are being sold to investors who want to invest in real estate investment trusts. However, these are not fully regulated. Most importantly, they are not as liquid as a diversified mutual fund or exchange-traded fund (ETF) that may specialize in real estate investment holdings.
What is more, Direct Participation Programs generally have high sales commissions and their management fees are generally exorbitant.
This is yet another instance when it is best to stick to plain vanilla investments, and to avoid the sharp pencil, brainy folks on Wall Street. ( See the Earl J Weinreb NewsHole® comments.)
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