My first encounter with David Lerner Associates came in July 2011. That month I spoke with a pleasant woman who had invested heavily with a David Lerner Associates broker in an Apple REIT (real estate investment trust). She was calling for advice on whether she accept their offer to buy back her REIT investment. “At […]
Massachusetts Targets REITs… Again
We have written many posts about REITs – Real Estate Investment Trusts. They can be great investments but many have liquidity problems. Stockbrokers often recommend them to the wrong customers as well. In May, Massachusetts Secretary of State William Gavin announced that five brokerage firms had agreed to pay restitution of $6.1 million to settle […]
FINRA Issues Warning On Nontraded REITs – Stockbroker Fraud Post
We have written several times about the dangers of nontraded or thinly traded REITs. They are a popular way of investing in real estate but they can be difficult to sell or liquidate if an investor suddenly needs cash. There are other potential pitfalls as well. This week the Financial Industry Regulatory Authority – FINRA […]