The following video is part of our "Motley Fool Conversations" series, in which advisor Andy Cross and senior analyst Jeremy Myers discuss topics across the investing world.

Andy and Jeremy get into the details of real estate investing and discuss why every investor should allocate a percentage of their portfolio to the strategy. They conclude with their favorite real estate idea that has the backing of a big fish out there: Bill Ackman of Pershing Square Capital.

Andy Cross has no positions in the stocks mentioned above. Jeremy Myers owns shares of Howard Hughes. The Motley Fool owns shares of Howard Hughes and Jones Lang LaSalle. Motley Fool newsletter services recommended Jones Lang LaSalle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.