Joking aside, I think the main concerns middle age REIs face are:1) Shorter time line from start to exit (if you plan to exit)2) Less risk toleranceFortunately, you can manage both of those by what type of investments you make and how you structure them, as follows:1) Avoid speculation. 

People Who are speculating are the ones who panic and sell at a discount when things dont look good.

Speculation is too difficult with land and have no interest in my investors to play the speculation game.

Originally posted by @Dell Schlabach:except you dont know what the truth is.... you're just speculating

Have to look good driving to the pay day loan store. yeah, people in mass generally make AWFUL financial decisions, even in the face of good advice. so if you find out what most people are doing and do the opposite, you'll probably end up in really good shape ;) paying interest on a high depreciation luxury is worse than buying a house in market mania and speculating that it will appreciate to no end. the house MIGHT appreciate, but the car is DEFINITELY going to be worth nothing in 8 years. buying a car should be an effort in minimizing the damage for the necessity of driving.

Prices kept rising because they thought there was an inflow of "rich, intelligent jet-setting banking wizards" in their city which made living their so desirable with huge migration inflows. 2 years later, they realized it was just speculation and you can google yourself real estate Sydney and London to see the 20% declines....

Two more years before it's expiry time, hahaAnyway Grant Cardone speculates that your salary needs to be $360K a year in order to save adequately, invest adequately, have an adequate buffer for emergencies, have fun, and truly not be concerned with money/how much things costs.

Rio Grande Valley is a great play for low priced homes (you can get the 2% rule there and some speculative appreciation), between San Antonio and Austin is the fastest growing area of the country, Houston and Dallas have excellent $100k neighborhoods that are great passive 1% plays, the Permian Basin is blowing up right now, etc., etc.

I am in SF Bay Area and I refuse to invest in California because of the speculation and CA not being a tenant friendly state.

@Mike McKinzie  Oh no you cant really be thinking about appreciation.. that's gambling.. that's speculation , that's icing on the cake LOL.. unfortunately  your thought process and mine are very much a minority thought process on BP.BP tends to be cash flow first foremost and always.. to the point that beginning investors actually believe it and take the risk chasing very high paper yields with no clue the risk they are taking.