In addition, the size of the upfront capital commitment in real estate investing makes di-versification within the asset class difficult to achieve. The real estate investor has the bulk of his investments locked into a few properties.

• 另外，由于得先垫出一大笔资金，也就很难做到分散投资。少数 几个房地产就能把投资者的大部分资金套牢，从这个角度看，房地产投资可说是高风险的。