Subject: File No. S7-35-11
From: Joseph Doyle

September 3, 2011

Dear SEC,

While I admire your prudence in ensuring the Main St investor is protected, I feel that this inquiry has already damaged the markets' view of mREIT stocks.

The mREIT industry has a kosher model, with FULL disclosure of risk, and subsequent reward/yield. Even though I am only 46, I have migrated completely to dividend stocks for retirement savings and putting my 3 kids through college. I don't truly trust the stock market nor do I trust our government to do "the right thing" vs. what is best for their political careers (see Debt Ceiling debates)

I read all of the mREIT SEC filings and I listen on quarterly earnings conference calls. I have over $100,000 invested in mREITs and have been punished severely this summer.

I urge you to speak directly with a forum of mREIT CEO's for transparent discussion about Main St investors' risk/reward scenario. These are not high flying stocks making the rich richer, these are relatively safe ports in the storm that is the US Economy and the not-always-trusted Stock market (see Flash Crash)

Thank you sincerely for asking my opinion and good luck in your endeavors to make the SEC a great organization again.
Joe Doyle