As the saying goes: "Do not keep eggs in one basket." If you have enough money to split them into different portfolios, why not? It will even be more rational. One portfolio will support the other.
It's good for an investor to diversify their portfolio. If one fails, they would still have some back up. Investors don't usually focus on just one asset. It also depends on your needs and intention. Know that by investing in real estate, you may not expect some profit or a return of investment so easily or in a instant.
Real estate is always a good investment, however it's harder to liquidate. My advice if you intend on investing on real estate is to check out lands which are still undergoing development but have the potential to be developed in the future. Somewhere far from the city but is starting to get urbanized. The land in a location like that would surely appreciate/accrue in the future.