It’s natural to have concerns if you’re investing in private real estate for the first time: You may be overly cautious about investing in private real estate due to its high fees or concerns about Ponzi schemes. You don’t want to fall prey to red flags you should have seen before you invested in private real estate. If you find a company the target of fraud investigations, hidden risks or tucked-away fee structures, keep shopping. These three major red flags should be able to help you find a safer alternative.