There is plenty of liquidity in brick and mortar. Too many novices think you have to sell a piece of real estate to get liquidity. You can convert equity to cash with a cash out refi. As a general rule, this is non taxable event up to a cash out amount that doesn't exceed the original purchase price of the property. Liquidating mutual funds creates a taxable event when selling at a gain. If you sell at a loss, well, you lost money. When you liquidate a mutual fund all you have is cash. If you access the equity in real estate via a cash out refi, you still have the asset and the cash flow.

For small amounts of liquidity, cash or mutual funds are ideal, but don't be afraid of having too much tied up in real estate.