My 4 Worst REIT Picks: Lessons Learned The Hard Way
I revisit four of my worst REIT picks—ARCP, MPW, SAFE, and IIPR—to extract hard-earned lessons and strengthen my investment process. ARCP's collapse highlighted that broken trust and poor management culture override apparent value and yield, making a swift exit essential when the thesis changes. MPW and IIPR exposed the dangers of chasing yield amid tenant fragility, leverage, and unreliable cash flows, while SAFE revealed the underestimated risk of duration in a rising-rate environment.