Mortgage Note Fund vs. REIT: The Complete Comparison for Accredited Investors (2026)
Both mortgage note funds and REITs put real estate to work for your portfolio—but how they do it differs dramatically. Most REITs are equity investments in properties; private mortgage note funds are debt investments. That single distinction changes everything: returns, income timing, tax treatment, market correlation, liquidity, and risk profile.
This complete mortgage note fund vs. REIT guide delivers a category-by-category comparison for accredited investors evaluating alternative investment options in 2026. Note: some REITs—called Mortgage REITs (mREITs)—also invest in real estate debt, making them structurally closer to note funds. Where meaningful, we call out those differences. Use the comparison tables and verdict sections to determine which fits your goals—or whether the right answer is both.
Where specific fund details appear—returns, commitment period, track record, distributions—they refer to the Integrity Income Fund by Labrador Lending. Mortgage note funds vary significantly in structure, strategy, and terms. This comparison should not be generalized to all note funds without independent verification of a specific fund’s offering documents.
- A mortgage note fund vs. REIT comparison comes down to debt vs. equity — note funds hold loans, REITs hold properties.
- Private mortgage note funds like the Integrity Income Fund target 8–10% annually vs. 3–6% public REIT dividend yields — paid monthly vs. quarterly.
- REITs win on liquidity and inflation protection; note funds win on income yield, market correlation, and leverage risk.
- Because returns come from contractual loan payments — not stock prices — private note funds are true non-correlated assets ideal for diversifying equity-heavy portfolios.
- Many accredited investors pursuing passive income and real estate portfolio diversification hold both for complementary exposure across the capital stack.
Skip to any section:
- The Fundamental Difference: Debt vs. Equity
- The Capital Stack Explained
- Head-to-Head Comparison (15 Categories)
- Returns & Income
- Risk Profile
- Liquidity
- Tax Treatment
- Market Correlation
- Category Verdicts
- Who Should Choose Which
- FAQ
The Fundamental Difference: Debt vs. Equity
Every real estate transaction involves two parties: the borrower (who takes a loan) and the lender (who provides it). In the mortgage note fund vs. REIT debate, REITs and mortgage note funds sit on opposite sides of this transaction — but importantly, as a passive investor in a mortgage note fund, you own a membership interest (equity) in the fund LLC. The LLC acquires and holds the mortgage notes, acting as the note holder. The fund is the debt investor; you are an equity investor in the fund.
Not all REITs are the same. Equity REITs own and operate physical properties—think apartment complexes, office buildings, or shopping centers. Mortgage REITs (mREITs) invest in real estate debt, including mortgage-backed securities (MBS) and commercial mortgages—making them structurally more similar to mortgage note funds than to equity REITs.
Both mortgage note funds and mREITs are debt investments in real estate, but they differ significantly in liquidity (mREITs trade daily on exchanges; note funds do not), tax structure (mREITs issue 1099-DIV and must distribute 90% of taxable income; private note funds issue K-1 and offer more flexibility), and risk profile (mREITs are highly sensitive to interest rate movements; private note fund returns are driven by individual loan performance). Where this guide references “REITs,” it primarily addresses publicly traded equity REITs, which are the most common comparison point—but the mREIT distinction is noted throughout where relevant.
| Feature | Mortgage Note Fund | REIT |
|---|---|---|
| Investment Type | Equity membership in a fund — you own a share of the LLC, which acquires real estate debt (mortgage notes) | Equity — you own a share of a trust that holds properties |
| What You Hold | A membership interest (equity share) in the fund LLC; the LLC holds mortgage notes secured by real property | Shares in a trust that holds real estate; the trust is the property owner |
| Your Role | Passive equity investor — you are a member of the LLC; the LLC (not you individually) acts as the note holder | Partial property owner — you are the landlord (via REIT) |
| Income Source | Borrower interest payments on loans | Rental income from tenants; property appreciation |
| Return Driver | Loan performance; resolution of non-performing notes | Occupancy rates, rental growth, property values, market conditions |
| Market Sensitivity | Low — contractual loan payments | High (public) / Moderate (private) |
A REIT invests in real estate. The Integrity Income Fund invests against real estate as collateral. As an investor, you own a membership interest in the fund LLC—the LLC acquires mortgage notes, and the underlying real estate serves as collateral (your backstop), not your operating business.
Mortgage Note Fund vs. Mortgage REIT (mREIT): A Closer Look
Because both mortgage note funds and mREITs invest in real estate debt, they are often confused. Here is how they differ on the dimensions that matter most to investors:
| Feature | Mortgage Note Fund (e.g., Integrity Income Fund) |
Mortgage REIT (mREIT) |
|---|---|---|
| Structure | Private LLC or partnership; investor owns a membership interest (equity share) in the fund, which acquires and holds mortgage notes as the note holder | Publicly traded company registered with the SEC |
| Assets Held | Individual private mortgage notes secured by real property | Mortgage-backed securities (MBS) and commercial mortgages |
| Liquidity | Low — 12–36 month commitment typical | High — traded on major stock exchanges daily |
| Income Distribution | Monthly (Integrity Income Fund) — note funds heavy in non-performing loans may pay quarterly or less frequently | Required to distribute 90%+ of taxable income; typically quarterly |
| Interest Rate Sensitivity | Lower — tied to individual loan performance | High — MBS prices move inversely with interest rates |
| Market Volatility | Lower — appraised/contractual value | Higher — stock market value fluctuates daily |
| Tax Reporting | Schedule K-1 (may allow deductions) | 1099-DIV (dividends taxed as ordinary income) |
| Potential Yield | Higher potential (private market premium) | Historically high dividend yields, but volatile |
Both mortgage note funds and mREITs are real estate debt investments. The key trade-off is liquidity vs. yield: mREITs offer instant liquidity and regulatory transparency; private note funds offer higher potential returns, lower volatility, and greater tax flexibility.
Where Each Investment Sits in the Real Estate Capital Stack
Every real estate deal has a capital stack—a hierarchy of capital providers ranked by risk, seniority, and return. Understanding where your investment sits in this stack is fundamental to understanding risk and return expectations.
▲ The Labrador Lending Integrity Income Fund holds predominantly first-lien mortgage notes — the most senior position in the capital stack. Debt holders in the first-lien position are paid before all equity investors in a default scenario.
The capital stack explains why mortgage note funds have lower volatility than equity investments: debt holders are paid first. In a default, the note holder (the fund) has legal priority to recover through the property before any equity investors receive anything. As a passive investor, you own an equity stake in the fund LLC—but the fund itself holds the senior debt position in the capital stack.
A first-lien mortgage note is the primary loan secured by a property. In the event of borrower default, the first-lien holder has the legal right to foreclose and recover their capital before any other creditor or equity investor receives proceeds from the property sale. This seniority is a fundamental structural protection for note investors.
The Complete Head-to-Head Comparison
Here is the full 15-category comparison between a private mortgage note fund (using Labrador Lending’s Integrity Income Fund as the benchmark) and both public and private REITs:
| Category | Mortgage Note Fund (Integrity Income Fund) |
Public REIT | Private REIT |
|---|---|---|---|
| Investment Type | Debt (first-lien loans) | Equity (property ownership) | Equity (property ownership) |
| Target Annual Yield | 8% (Class B) — 10% (Class C) | 3–6% dividend yield | 6–10% preferred return |
| Total Return Potential | Yield-focused; limited appreciation | Yield + property appreciation | Yield + property appreciation |
| Distribution Frequency | Monthly | Quarterly (most) | Quarterly / Annual |
| Investor Eligibility | Accredited only | Anyone — publicly traded | Accredited (typically) |
| Minimum Investment | $25,000 (Class B) | $100,000 (Class C) | $1 (single share) | $25,000–$100,000+ typical |
| Liquidity | Illiquid — IIF: 12-month commitment; private note funds typically range from 12 months to 5+ years | Highly Liquid — daily trading | Illiquid — multi-year lock-up |
| Stock Market Correlation | Low | High — trades on exchanges | Moderate |
| Real Estate Collateral | Yes — first-lien residential | Yes — property ownership | Yes — property ownership |
| Fund-Level Leverage | None | Typically 40–60% LTV | Typically leveraged |
| Tax Document | Schedule K-1 (LLC) | 1099-DIV | Schedule K-1 |
| Income Classification | Interest income (ordinary) | Ordinary income + ROC + cap gains | Ordinary income (mostly) |
| SDIRA Compatible | Yes | Yes (standard brokerage IRA) | Yes (SDIRA) |
| UBTI Risk in IRA | Low — no fund leverage | Possible if leveraged | Common — leveraged structure |
| Track Record (Labrador) | Zero missed distributions since June 2022 | Public track record available | Varies by fund |
Returns & Income: Who Pays More, and When?
One of the most important distinctions in any mortgage note fund vs. REIT comparison is not just how much they pay—it’s when they pay it. For investors focused on income investing and regular cash flow, this difference is as important as the yield itself.
Target Annual Yield Comparison
Yield ranges are illustrative based on market data as of early 2026. Public REIT dividend yield data sourced from NAREIT industry research. Past performance does not guarantee future results. Public REIT yield reflects dividend yield only, not total return including appreciation.
Income Distribution Timing
| Investment | Distribution Frequency | Consistency | Income Predictability |
|---|---|---|---|
| 🐾 Integrity Income Fund | Monthly | Zero missed distributions since June 2022 | High (contractual loan payments) |
| Public REIT (equity) | Quarterly | Can be cut or suspended | Moderate (rental market dependent) |
| Mortgage REIT (mREIT) | Quarterly | Volatile — interest rate sensitive | Low-Moderate |
| Private REIT | Quarterly / Annual | Varies by fund | Moderate |
| S&P 500 ETF | Quarterly | Variable — can be cut | Low (market dependent) |
For investors supplementing retirement income, managing living expenses, or reinvesting for compounding, receiving income monthly vs. quarterly is a meaningful practical difference. Over 12 months, monthly distributions provide 12 separate reinvestment opportunities vs. 4—accelerating compounding in SDIRA and reinvestment strategies.
Risk Profile: Understanding What Can Go Wrong
Both note funds and REITs carry risk. The key is understanding which types of risk each carries—they differ substantially.
| Risk Type | Mortgage Note Fund | Public REIT |
|---|---|---|
| Market Price Risk | Low — private placement, no daily price | High — price can drop 30–50% in market downturns |
| Borrower Default Risk | Present — mitigated by first-lien collateral | None — no borrower relationship |
| Illiquidity Risk | High — IIF: 12-month commitment; note funds typically 12 months to 5+ years; no exchange trading | Low — daily trading on exchanges |
| Vacancy / Rent Risk | None — no property ownership | Present — vacancy reduces income |
| Leverage Risk | None — Integrity Income Fund uses no leverage Note: some mortgage note funds do use leverage, which increases risk |
High — most REITs are 40–60% leveraged |
| Interest Rate Risk | Moderate — affects note pricing | High — rising rates compress valuations |
| Manager Risk | Present — performance depends on team quality | Present — management quality varies by REIT |
| Property Value Decline | Indirect — reduces collateral value but debt is senior | Direct — equity value declines with property prices |
Most public REITs carry debt at the property level (40–60% loan-to-value). When property values decline, leveraged equity suffers amplified losses. Labrador Lending’s Integrity Income Fund uses zero fund-level leverage—returns come entirely from the underlying loan portfolio, with no borrowed capital amplifying either gains or losses. Note: not all mortgage note funds are unlevered. Some private note funds do use leverage to amplify returns, which also increases risk. Always confirm a fund’s leverage policy before investing.
Liquidity: The Biggest Practical Difference
This is where REITs hold a clear structural advantage over private mortgage note funds—and where investors must be honest with themselves about their needs.
| Liquidity Factor | Mortgage Note Fund | Public REIT |
|---|---|---|
| How to Exit | Redemption at commitment end (Integrity Income Fund: 12 months; other funds vary — typically 12 months to 5+ years) | Sell shares on exchange any trading day |
| Emergency Access | Generally not available during commitment period | Sell instantly during market hours |
| Exit Costs | Typically none at commitment end | Brokerage commissions (minimal) |
| Price Certainty at Exit | Higher — defined redemption terms | Lower — market price fluctuates |
| Best For | Capital you can commit for the fund’s full term (IIF: 12 months; other funds may require 2–5+ years) | Capital you may need on short notice |
Only invest in a mortgage note fund with capital you can commit for the fund’s full commitment period without needing access. Private note fund terms typically range from 12 months to 5+ years—the Integrity Income Fund’s 12-month term is on the shorter, more investor-friendly end of the spectrum. The liquidity trade-off is the price of lower market correlation and higher targeted income. Never invest emergency reserves or short-term capital in a private placement.
Tax Treatment: How Each Investment Is Taxed
Tax efficiency can significantly affect net returns—especially for investors in high income brackets. Here’s how each investment type is taxed:
| Tax Factor | Mortgage Note Fund | Public REIT |
|---|---|---|
| Tax Document | Schedule K-1 (if LLC structure) — see IRS Schedule K-1 guidance | 1099-DIV |
| Income Type | Ordinary interest income | Ordinary dividends + qualified dividends + return of capital + capital gains |
| Qualified Dividend Rate? | No — interest income taxed as ordinary | Partially — some portion may qualify |
| QBI Deduction (Sec. 199A) | Consult CPA — depends on structure | Yes — REIT dividends typically eligible for 20% QBI deduction |
| SDIRA Compatible | Yes — Self-Directed IRA | Yes — traditional IRA/Roth IRA |
| UBTI Risk in IRA | Low — no fund leverage = minimal UBTI risk | Possible — if held in IRA through margin |
| Depreciation Benefit | No — does not own property | Yes — REITs pass through depreciation benefits |
REITs have a structural tax advantage: the 20% Section 199A deduction on qualified REIT dividends (for eligible taxpayers) and property depreciation pass-through. Mortgage note funds may be more tax-efficient inside a Roth SDIRA, where interest income compounds entirely tax-free. The optimal approach depends on your tax bracket, IRA capacity, and investment timeline—consult a CPA before making tax-motivated investment decisions.
Market Correlation: How Each Behaves When Markets Move
For investors seeking true diversification—not just diversification within a single asset class—market correlation matters as much as expected returns. This is where the mortgage note fund vs. REIT distinction is most pronounced: private note funds function as genuine non-correlated assets in a way that public REITs do not.
| Correlation Factor | Mortgage Note Fund | Public REIT |
|---|---|---|
| Correlation to S&P 500 | Low — returns not driven by market prices | High — REIT ETFs move with equity markets |
| 2020 COVID Crash Impact | Minimal price impact (no daily price) | REIT ETFs fell 40–50% in March 2020 |
| 2022 Rate Hike Impact | Higher origination yields available; limited price volatility | Public REITs fell 25–30% in 2022 |
| Inflation Protection | Moderate — fixed loan rates don’t rise with inflation | Strong — rents and property values tend to rise with inflation |
| Diversification Value | High — true portfolio diversifier for equity-heavy portfolios | Limited — correlated with equity holdings |
Investors who hold 70–90% of their portfolio in equities often seek alternatives that don’t “zig” when stocks “zag.” Public REITs, despite being real estate, actually have high correlation to the S&P 500—they are traded on the same exchanges by the same sentiment-driven investors. Private mortgage note funds, by contrast, derive returns from contractual loan payments that continue regardless of what equity markets do in any given month.
Category Verdicts: Mortgage Note Fund vs. REIT
Based on the full analysis above, here is a summary verdict for each key investment category:
Monthly Income
The Integrity Income Fund pays monthly distributions vs. typical quarterly REIT payments—better for income-dependent investors. Zero missed distributions since June 2022. Note: not all mortgage note funds pay monthly — funds focused on non-performing loans may pay quarterly or less frequently.
Market Correlation
Private note funds generally have low correlation to public equity markets, since returns are driven by contractual loan payments rather than investor sentiment or stock prices. The Integrity Income Fund holds no publicly traded assets.
Leverage Risk
Integrity Income Fund uses zero fund-level leverage. Most REITs are 40–60% leveraged.
Income Yield
8–10% targeted preferred return vs. 3–6% public REIT dividend yield. Significantly higher income.
Liquidity
Public REITs trade daily. The Integrity Income Fund requires a 12-month commitment with no exchange trading—one of the shorter lock-up periods in private credit (many note funds require 2–5+ years).
Accessibility
Public REITs are open to all investors. Most private note funds require accreditation and $25K+ minimums—though some use Reg A+, which allows non-accredited investors to participate.
Inflation Protection
Property values and rents rise with inflation. Fixed-rate note yields do not adjust automatically.
Tax Benefits (QBI)
Eligible investors may deduct 20% of qualified REIT dividends under Section 199A. Note funds do not qualify.
SDIRA Compatibility
Both work in self-directed retirement accounts. Note fund UBTI risk is lower due to no leverage; REIT standard IRA setup is simpler.
Total Return Potential
REITs offer appreciation upside beyond income. Note funds focus on income yield. Equity investors in growth mode may prefer REITs; income investors prefer note funds.
Who Should Choose a Mortgage Note Fund vs. a REIT?
Income-Seeking Accredited Investors
You need monthly cash flow and prefer higher yields over liquidity. Capital can be committed 12+ months.
Equity-Heavy Portfolio Diversifiers
You already hold significant stocks and stock-correlated assets and want a genuine low-correlation income stream.
Market Skeptics
You’re concerned about stock market valuations and want returns that don’t depend on investor sentiment or market prices.
Liquidity-Conscious Investors
You may need access to your capital within the next 12 months. Public REITs can be sold any trading day.
Non-Accredited Investors
Public REITs are open to everyone. Many private note funds require accreditation—though some use Reg A+, which allows non-accredited investor participation within SEC limits.
Appreciation-Focused Investors
You want real estate equity upside—rising property values and rents—alongside income. REITs deliver this; note funds do not.
Accredited Portfolio Builders
Most accredited investors benefit from holding both: REIT for equity exposure and liquidity; note fund for monthly income and low correlation.
Sophisticated accredited investors often allocate to both simultaneously. A common approach: hold public REITs in a taxable brokerage for liquidity and equity exposure; allocate a portion of an SDIRA or locked-up capital to a private mortgage note fund for monthly passive income, low market correlation, and tax-deferred or tax-free compounding. For investors who want a well-rounded real estate portfolio across the full capital stack, the mortgage note fund vs. REIT question isn’t either/or — the two complement rather than compete with each other.
For investors still weighing the mortgage note fund vs. REIT decision, the right answer often depends on one question: do you need liquidity, or do you need income? If monthly passive income and a non-correlated real estate portfolio position matter more than daily liquidity, a private mortgage note fund may be the stronger fit. If you want instant access to capital alongside real estate exposure, a public REIT wins on that dimension. Many accredited investors pursuing income investing as part of a diversified alternative investment strategy choose to hold both.
Free Resources to Go Deeper
Before making any investment decision, Labrador Lending encourages thorough due diligence. These free resources will help:
- Integrity Income Fund Overview PDF — detailed fund structure, investment mechanics, and team background
- Accredited Investor Guide 2026 — comprehensive comparison of all investor pathways including fund and asset management options
- Resources — download free guides and tools, blog posts, and more
- Self-Directed IRA Investment Guide — how to use SDIRA and Roth SDIRA for mortgage note fund investing
Frequently Asked Questions: Mortgage Note Fund vs. REIT
A REIT owns physical real estate properties and earns income from rents and appreciation—it is an equity investment. A mortgage note fund owns the loans secured by real estate, not the properties themselves—it is a debt investment. This core distinction drives differences in returns, income frequency, tax treatment, market correlation, leverage, and risk profile.
Private mortgage note funds typically target higher income yields than public REITs. Labrador Lending’s Integrity Income Fund targets 8% (Class B, $25,000 minimum) or 10% (Class C, $100,000 minimum) annual preferred returns paid monthly. Public REIT dividend yields average 3–6%. However, public REITs offer total return potential through property appreciation, which note funds generally do not. The comparison depends on whether you are measuring income yield alone or total return.
They carry different risk profiles, not universally safer or riskier. Mortgage note funds have lower market price volatility (no daily trading), lower market correlation, and benefit from first-lien collateral protection. Public REITs carry higher market price risk and leverage risk, but are far more liquid. Note funds carry significant illiquidity risk—capital is locked up for the commitment period (typically 12 months to 5+ years depending on the fund). Both carry manager risk. Neither is universally safer; the right choice depends on your risk tolerance, liquidity needs, and portfolio context.
No—private mortgage note funds have low correlation to stock market movements. Returns are driven by borrower loan repayments, which are contractual obligations that continue regardless of what equity markets do. Public REITs, by contrast, trade on stock exchanges and have historically shown significant correlation to broad equity market movements—falling sharply in market downturns such as March 2020 and 2022. This makes private mortgage note funds a stronger diversification tool for equity-heavy portfolios.
The Integrity Income Fund pays monthly distributions sourced from borrower interest payments on the loans held by the fund. Public REITs most commonly pay quarterly dividends from rental income. Not all mortgage note funds pay monthly—funds focused on non-performing loans may pay quarterly or less frequently, since borrowers who aren’t paying don’t generate regular income. The Integrity Income Fund has paid monthly distributions every month since launching in June 2022, with zero missed distributions.
Yes—and for many accredited investors, this is the optimal strategy. REITs provide liquid equity real estate exposure, inflation protection, and property appreciation potential. The Integrity Income Fund provides monthly income, low market correlation, and real estate-backed income with no fund-level leverage. Together, they provide complementary risk and return profiles across the real estate capital stack. A common approach is to hold REITs in a taxable brokerage and a note fund in an SDIRA for tax-advantaged compounding.
REIT dividends are typically taxed as ordinary income, but eligible investors may benefit from the 20% Section 199A qualified business income deduction on REIT dividends. REITs also pass through depreciation benefits that can shelter a portion of income. Mortgage note fund income is typically interest income reported via Schedule K-1, taxed as ordinary income without QBI deduction benefits. Both can be held in self-directed retirement accounts. Mortgage note funds like the Integrity Income Fund use no leverage, minimizing UBTI risk in IRAs. Always consult a qualified CPA before making tax-motivated investment decisions.
Many private mortgage note funds, including the Integrity Income Fund, are offered under SEC Regulation D and require accredited investor status — as defined by the SEC’s accredited investor standards. However, some note funds are offered under SEC Regulation A+ (Reg A+), which does not require accredited status and is open to non-accredited investors within SEC offering limits—though this structure is less common for private mortgage note strategies. Public REITs, by contrast, are available to all investors. Non-accredited investors interested in mortgage note investing can also access Labrador Lending’s Asset Management Service.
A mortgage REIT (mREIT) is a publicly traded REIT that invests in mortgage-backed securities and other mortgage debt—so it is actually more similar to a note fund than an equity REIT. However, mREITs are publicly traded (high liquidity but also high market correlation), are typically heavily leveraged with borrowed capital, and are particularly sensitive to interest rate movements. Private mortgage note funds like the Integrity Income Fund are unleveraged, illiquid, and focus on whole residential loans rather than mortgage-backed securities—providing very different risk characteristics despite both being debt investments.
Explore the Integrity Income Fund
If monthly distributions, low market correlation, and real estate-backed income align with your goals, the Integrity Income Fund may be worth a closer look. Accredited investors can access Class B (8% targeted, $25,000 min) or Class C (10% targeted, $100,000 min). Zero missed distributions since June 2022.
Learn About the Integrity Income Fund Download Free Investor ResourcesIf you don’t yet qualify as an accredited investor, you have options. Some mortgage note funds use SEC Regulation A+ (Reg A+), which allows non-accredited investors to participate within SEC offering limits. Labrador Lending’s Asset Management Service is also open to all investors who want to own individual notes directly with professional operational support.
References
- National Association of Real Estate Investment Trusts (NAREIT). U.S. REIT Industry Financial Data. reit.com. Accessed April 2026.
- U.S. Securities and Exchange Commission. Accredited Investors — Updated Investor Bulletin. sec.gov. Accessed April 2026.
- U.S. Securities and Exchange Commission. Regulation D Offerings. sec.gov. Accessed April 2026.
- U.S. Securities and Exchange Commission. Regulation A: Alternative Securities Offering Exemption for Smaller Issuers. sec.gov. Accessed April 2026.
- Internal Revenue Service. About Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. irs.gov. Accessed April 2026.
- Internal Revenue Service. Unrelated Business Income Tax (UBIT). irs.gov. Accessed April 2026.
- Internal Revenue Service. Tax Cuts and Jobs Act, Provision 11011 Section 199A — Qualified Business Income Deduction FAQs. irs.gov. Accessed April 2026.
- Internal Revenue Service. Self-Directed IRAs and the Risk of Fraud. irs.gov. Accessed April 2026.
- National Association of Real Estate Investment Trusts (NAREIT). What is a REIT? reit.com. Accessed April 2026.
- Labrador Lending. Integrity Income Fund — Passive Investor Overview. labradorlending.com. Accessed April 2026.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice, legal advice, or tax advice. Comparisons to REITs are general in nature and based on publicly available data as of early 2026; individual REIT performance varies significantly. The Integrity Income Fund is a private placement offered under SEC Regulation D available only to accredited investors. All investments involve risk, including the potential loss of principal. Past performance does not guarantee future results. Targeted returns are not guaranteed. Consult qualified legal, tax, and financial professionals before making investment decisions. Labrador Lending, LLC is not a registered investment advisor.