1. First, many aren’t even aware that there is an option of investing in real estate without being the direct owner-manager - retaining all the credit & liability risk.
2. Second, those that do believe they are limited to public REITs which have their downsides or they lack the knowledge, time, experience and network of experienced real estate operators & sponsors - to confidently invest institutional quality real estate projects.
3. Third, many investors' portfolios are heavily weighted in one asset class - typically stocks & publicly traded assets. Leading to a lack of diversification.
Diversification is a critical component of creating financial independence because it spreads out risk - which often leads to increased predictability & consistency of outcome. This is something nearly all of us want when investing.