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From an individual investor's perspective, describe the relative merits of mortgage REITs, equity REITs, and hybrids. Buying a REIT mutual fund subjects investors to an

  1. From an individual investor's perspective, describe the relative merits of mortgage REITs, equity REITs, and hybrids.
  2. Buying a REIT mutual fund subjects investors to an additional layer of management fees. Wouldn't it therefore make more financial sense to invest directly in a variety of REITs, thus gaining the advantages of diversification without incurring the additional expense? Explain your reasoning.
  3. In general, would you expect cost estimates to be more precise for new development projects or for rehabilitation projects? Explain your reasoning.
  4. How does a general contractor differ from a real estate developer?

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