Public REITs
Traded like stocks. High liquidity, low minimums, but correlation to equity markets is rising. Best for IRA-style exposure, not for tax-advantaged real estate benefits.
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Private Syndications
Direct ownership in apartment buildings, self-storage, etc. through a sponsor. Typical structure: 70/30 LP/GP split, 8% pref, 5–7 year hold. Requires accredited investor status.
Debt Funds
Lend money to other real-estate investors at 8–12% yields. Steady income, no appreciation upside, default risk in downturns.