Choosing the right fractional real estate platform requires understanding the fundamental differences between available options. mogul and Addy represent two distinct approaches to property investment: mogul offers property-specific fractional ownership in U.S. single-family rentals through property-specific LLCs, blockchain-supported ownership verification, and institutional-grade underwriting, while Addy historically concentrated on Canadian real estate and also supported U.S., USD-denominated, debt, and real estate fund opportunities. For investors evaluating these platforms, the distinctions in geographic focus, ownership structure, platform stability, and return profiles significantly impact long-term wealth-building outcomes.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Key Takeaways
- mogul's team of former Goldman Sachs executives applies institutional-grade underwriting, with mogul stating that less than 1% of reviewed properties pass its selection process
- mogul generally distributes an investor's share of net rental income monthly once a property is operational, while Addy's distribution frequency was set at the offering level and could be monthly, quarterly, annual, or irregular depending on the project
- mogul covers up to $10,000 in losses on investments made within a new member's first 7 days if those investments show a loss after year one, a distinctive risk mitigation feature in the fractional real estate space
- mogul records ownership information on the Avalanche network for independently verifiable proof of ownership, with rental performance and monthly third-party valuation data presented separately through the dashboard, while Addy relied on conventional corporate and limited-partnership securities records
- mogul's platform was active as of July 2026, while Addy underwent regulatory and restructuring proceedings that concluded in 2026
- mogul provides property-specific LLC membership interests with pro-rata voting rights on significant property decisions, generally including expenditures above $1,000
When investors compare fractional real estate platforms, the choice between mogul and Addy reveals two fundamentally different philosophies toward property investment. While Addy built its reputation on ultra-low entry points, mogul brings a technology-forward approach with Goldman Sachs experience to the U.S. single-family rental market. This comparison demonstrates why mogul's combination of platform stability, institutional rigor, and investor protections delivers compelling value for those seeking property-level ownership and selection.
Understanding Each Platform's Core Positioning
Addy positioned itself as a fractional real estate platform, offering access to real estate opportunities primarily across Canadian provinces including British Columbia, Alberta, Ontario, and Quebec, while also supporting select U.S. offerings and USD-denominated transactions. Founded in 2018, Addy built its early reputation on making real estate accessible through investments as low as $1. The platform facilitated more than 60 issuances involving approximately 10,628 investors before undergoing restructuring in 2026.
mogul takes a focused approach to fractional real estate. Founded by former Goldman Sachs real estate executives who describe more than $10 billion of collective investing experience, mogul specializes in single-family residential rentals including short-term and mid-term strategies. Rather than a blind pooled fund, mogul enables investors to select specific properties and to purchase a membership interest in a property-specific investment-club LLC that owns the applicable home, providing property-level economic exposure to individual homes they can identify by address.
The fundamental difference: Addy historically offered Canadian real estate exposure (alongside some U.S., USD, debt, and fund products) through offering-specific corporate-share, limited-partnership, issuer, or SPV structures, while mogul delivers property-specific LLC ownership in U.S. residential properties with blockchain-verified ownership records and pro-rata investor voting rights.
Investment Options Reflect Different Strategic Approaches
Addy's investment portfolio included:
- Real estate opportunities across Canadian provinces, with some U.S. offerings
- Multi-family and commercial developments
- CAD-denominated investments, along with USD wallets and USD transactions for U.S. offerings
- Equity offerings, debt or hard-money-loan opportunities, and real estate fund products
- Offering-specific returns and investor rights that varied by deal
This structure suited investors seeking Canadian market exposure.
mogul's investment offerings focus on:
- Short-term rentals (Airbnb-style properties that mogul characterizes as higher yielding than traditional long-term rentals)
- Mid-term rentals (30+ day stays addressing workforce housing demand)
- Long-term residential rentals with stable tenant relationships
- Potential tax advantages including depreciation that may pass through on a Schedule K-1, subject to each investor's tax circumstances
- Property-specific LLC ownership interests in individual properties
- Pro-rata voting rights on significant decisions, generally including expenditures exceeding $1,000
mogul's model enables investors to select specific properties rather than investing in a blind pooled fund, providing transparency into exactly where capital is deployed.
For example, while Addy enabled investors to choose particular offerings and acquire shares or limited-partnership units issued in connection with those opportunities, mogul allows investors to review individual property underwriting, including projected yields, annual revenue, and market comparisons, before committing capital to a specific home. Try mogul's free real estate calculator to run your own analysis.
Pricing Structures Show Distinct Value Propositions
The pricing models reveal each platform's approach to accessibility and long-term value.
Addy's pricing structure:
- Investments historically marketed as low as $1, with actual minimum and maximum amounts varying by offering, membership tier, dealer approval, and applicable securities-law limits
- Optional paid memberships historically, including a $25 annual plan that later increased to $50 (and a $500 lifetime option in earlier years), alongside free access. A paid membership was not required to invest
- For CAD transactions, Addy stated that it charged no investor-facing transaction, property-acquisition, withdrawal, promotion, or markup fees; USD activity could involve additional banking, currency-conversion, or withdrawal costs
- Offering-level expenses and issuer economics that varied by deal
mogul's pricing structure:
- Typical portfolio allocation of about $17,321 per property, an average investment of around $10k, and allocations available up to approximately $250,000 through the cited flow
- A one-time 3% platform fee, plus an additional 2% property setup or rent-ready fee where applicable (mogul's homepage also summarizes this upfront charge as a 5% capitalized deal fee)
- 2.5% ongoing rental income fee
- No traditional recurring annual AUM fee on invested principal
- Property management included
Addy's very low entry point suited micro-testing, while mogul does not charge a recurring annual AUM fee on invested principal, supporting a fee-efficient structure over the multi-year horizons on which most real estate positions turn.
Target Investors Align with Different Objectives
Addy primarily served:
- Investors seeking Canadian market exposure, with some access to U.S. offerings
- Those with minimal capital for micro-testing (historically as low as $1)
- Investors comfortable with offering-specific distribution schedules that could be monthly, quarterly, annual, or irregular
- Those investing primarily in CAD, with USD options available for U.S. offerings
mogul targets:
- First-time real estate investors entering the asset class
- Existing property owners evaluating portfolio performance
- Seasoned investors looking for risk-adjusted returns outside volatile public markets
- Tech-forward investors valuing blockchain-based ownership verification
- Those seeking potential monthly income from real estate
- Eligible international investors seeking U.S. market exposure, subject to compliance requirements
This distinction matters. Investors seeking institutional-quality underwriting, potential monthly distributions, and property-level ownership rights benefit from mogul's approach. The platform enables portfolio building one property at a time, with visibility into each investment property's performance.
Performance and Return Profiles
Both platforms approach returns differently based on their investment structures.
Addy's performance characteristics:
- Returns varied by offering, and Addy did not publish a single platform-wide average return
- Offering-specific distribution schedules that could be monthly, quarterly, annual, or irregular
- Investor experiences and outcomes varied by offering, reflecting the deal-specific nature of the platform's structure
mogul's performance data:
- 18.8% average annual returns (IRR) across platform properties, as reported by mogul
- Target annual returns of 15% to 20% IRR, presented as property-specific underwriting targets rather than guaranteed returns; actual results may differ materially and investors may lose some or all of an investment
- Potential monthly distributions of an investor's proportionate share of net rental income once a property is operational
- mogul covers up to $10,000 in losses on investments made within a new member's first 7 days if those investments show a loss after year one
The $10,000 loss protection is a distinctive feature in fractional real estate: if your total return on investments made within your first 7 days results in a loss during year one, mogul covers up to $10,000 from its own balance sheet.
mogul's focus on single-family rentals positions investors in an asset class that, per mogul's own analysis, delivered a 13.8% IRR versus 9.8% for the S\&P 500 between 1993 and 2023.
Platform Stability and Regulatory Standing
Platform stability represents a critical consideration for long-term real estate investments.
Addy's status and history:
- Addy's registered dealer operations were wound down
- Related Addy entities subsequently entered insolvency proceedings
- A court-approved restructuring transaction concluded in 2026
- Addy also resolved a past regulatory matter with a securities regulator
mogul's operational standing:
- mogul's website and investment platform were active as of the July 2026 review date
- mogul states that its investment process includes identity verification and compliance controls; mogul facilitates access to real estate while investment decisions remain the investor's
- mogul's homepage displayed $3,181,675 as the amount invested in the preceding month when reviewed in July 2026
- Transparent fee disclosures and regular distribution mechanics
For investors considering fractional real estate, a platform's continued operation can affect servicing, communications, distributions, and exit administration. mogul's platform was active as of July 2026.
Technology and Transparency Approaches
Addy's technology:
- Mobile apps for iOS and Android
- Conventional corporate-share, limited-partnership, issuer, and SPV securities records
- In-app learning resources and a Discord community
- No blockchain-based ownership-record system
mogul's technology infrastructure:
- Avalanche blockchain integration for independently verifiable ownership records (inspectable via Snowtrace)
- Fireblocks digital-wallet and security infrastructure
- Rental performance and distribution information presented through the mogul dashboard
- Monthly property valuations via third-party appraisal-level data
mogul records ownership information on Avalanche to supplement conventional LLC, operating-agreement, and property-title records with an additional, independently verifiable record of ownership. After investing, users receive digital confirmation of their membership interest and can access applicable investment documentation through their account. This infrastructure is also intended to support a planned secondary market for share trading, which mogul describes as a forthcoming feature.
Property Selection and Due Diligence
Addy's vetting process:
- Primarily Canadian market focus, with some U.S. offerings
- Commercial, multi-family, and other property types
- Offering-specific due diligence
- Returns and investor rights that varied significantly by deal
mogul's selection methodology:
- mogul states that less than 1% of reviewed properties pass its diligence process
- Market and buy-box screening, financial underwriting, inspections, appraisals, and third-party diligence
- Goldman Sachs-level institutional analysis, as described by mogul
- mogul says it co-invests in every property offered
- Research analysts and institutional partners help identify opportunities
The alignment of interests matters: mogul says its capital sits alongside investor capital in every property, aligning management incentives with investor returns.
mogul's free investment property calculator and rental property calculator let investors analyze any U.S. address, projecting rental income, ROI, IRR, and cash-on-cash yields across multiple scenarios. mogul states that these calculators use data and analytical methods comparable to those used by major real estate firms.
Distribution Frequency and Cash Flow
For investors prioritizing regular income, distribution schedules significantly impact cash flow management.
Addy distributions:
- Offering-specific frequency that could be monthly, quarterly, annual, or irregular
- Timing and amounts set at the issuer or offering level, varying by project
mogul distributions:
- Once a property is operational, an investor's proportionate share of net rental income is generally credited monthly, with payments scheduled for the second Tuesday of the following month
- Based on distributable net rental income (after applicable expenses, fees, and reserves) rather than the underwriting projection, so amounts may vary based on actual property performance
- Investors receive K-1s and applicable tax forms in-app, with depreciation and other items that may pass through subject to each investor's tax circumstances
- Proceeds from eventual property sales after the hold period
mogul's monthly distribution model, when a property is generating distributable cash flow, enables more frequent reinvestment opportunities and potential compounding compared to less frequent schedules.
Backing and Market Credibility
Addy's background:
- Founded in 2018 with a primarily Canadian market focus
- More than 60 issuances and approximately 10,628 investors historically
- Underwent regulatory and restructuring proceedings in 2026
mogul's credentials:
- Founded by former Goldman Sachs real estate executives
- $3.6 million seed round led by AY Ventures, with participation from Tim Draper and Draper Associates (Tim Draper had earlier backed mogul at the pre-seed stage)
- Investors include Chris Larsen (Ripple co-founder) and Rosa Rios (43rd U.S. Treasurer)
- Featured in TechCrunch, Forbes, Wired, Yahoo Finance, and Fortune-related coverage
In mogul's seed-funding announcement, Tim Draper expressed confidence in the team's ability to reshape real estate investing and expand opportunities for wealth creation.
Why mogul Delivers Superior Value for Real Estate Investors
Investors seeking accessible entry into real estate face a clear choice between platforms with different operational statuses, geographic focuses, and ownership structures.
Key advantages of mogul's approach:
- Platform stability: mogul's platform was active as of July 2026, whereas Addy underwent regulatory and restructuring proceedings. For illiquid real estate investments, a platform's continued operation affects servicing, distributions, and exit administration.
- Property-level ownership: Invest in specific properties via property-specific LLC membership interests rather than a blind pooled fund. Know exactly which homes your capital supports, with visibility into each property's performance metrics.
- Potential monthly income: Once a property is operational, receive monthly distributions of your share of net rental income, enabling better cash flow management and faster reinvestment compared to less frequent schedules.
- Risk mitigation: mogul covers up to $10,000 in losses on investments made within a new member's first 7 days if those investments show a loss after year one, a distinctive protection feature among fractional real estate platforms.
- Investor governance: Pro-rata voting rights on significant property decisions, generally including expenditures exceeding $1,000, subject to the applicable operating agreement, while routine operations remain with the property manager.
- Institutional experience: Former Goldman Sachs executives apply rigorous underwriting, with mogul stating that less than 1% of reviewed properties pass muster.
- Blockchain verification: Avalanche network integration provides independently verifiable ownership records and is intended to support a planned future secondary market.
- Aligned interests: mogul says it co-invests in every property alongside platform investors.
- U.S. market access: Exposure to properties in markets including Dallas, Houston, the Phoenix metropolitan area, and Atlanta, subject to current inventory, in the single-family rental asset class.
For investors who prioritize property-level selection, potential monthly net rental distributions, LLC-based ownership interests, and blockchain-supported ownership verification, mogul may offer a more closely aligned structure for building a real estate portfolio. The combination of active platform operations, transparency, and Goldman Sachs experience creates compelling value.
Ready to explore fractional real estate? Analyze potential investments with mogul's free Airbnb calculator or schedule a call to discuss your investment objectives.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Frequently Asked Questions
What is the difference between mogul and Addy's ownership structures?
mogul investors purchase membership interests in a property-specific investment-club LLC that owns the applicable home, providing property-level economic exposure without placing each investor directly on the deed. This structure includes pro-rata voting rights on significant decisions, generally including expenditures exceeding $1,000, subject to the applicable operating agreement, while routine operations remain with the property manager. Addy generally enabled investors to choose specific offerings and acquire corporate shares or limited-partnership units, with earlier transactions commonly using property-specific SPVs and later transactions involving issuers offering securities directly through the marketplace; Addy operated the platform but did not itself own or develop the properties. Investor rights under Addy depended on the applicable shareholders' agreement, limited-partnership agreement, and offering documents. For investors who value knowing their specific investments and having a voice in property decisions, mogul's platform provides a direct connection to underlying assets.
How does mogul select properties for investment?
mogul states that less than 1% of reviewed properties pass its selection process. The platform says its team uses market and buy-box screening, financial underwriting, appraisals, inspections, comparative analysis, and third-party diligence to identify properties. mogul also says it co-invests in every property offered on the platform, aligning management interests with investor returns. You can preview this analytical approach using mogul's free investment property calculator on any U.S. address.
Can international investors use mogul's platform?
Eligible non-U.S. investors may be able to participate, subject to KYC, sanctions, jurisdictional, tax, and legal requirements, and onboarding materials may require an SSN or equivalent non-U.S. identification. mogul offers digital account creation, including email-based registration and, in some platform flows, Google sign-on. mogul says account creation or investment selection can be completed in approximately 30 seconds, with identity verification, bank funding, and eligibility review completed as part of onboarding. Governance rights may derive from the same operating agreement as for domestic investors, but cross-border tax forms, withholding, and reporting may differ from those applicable to U.S. investors. For Canadian investors who previously used Addy, mogul provides an alternative pathway to real estate investment with the added benefit of U.S. market access.
What returns does mogul target, and what risks affect actual results?
mogul reports 18.8% average annual returns (IRR) across platform properties, and certain offerings display projected or targeted annual returns in the 15% to 20% range. These are property-specific underwriting targets, not guaranteed returns, and actual results may differ materially. mogul focuses on single-family rentals, an asset class that, per mogul's own analysis, delivered a 13.8% IRR versus 9.8% for the S\&P 500 from 1993 to 2023. Returns vary by property, market conditions, and hold period, and mogul's disclaimer notes that investment results are unpredictable and investors may lose some or all of an investment. mogul provides detailed underwriting for each property including projected yields, annual revenue, and scenario analysis. For new members, mogul covers up to $10,000 in losses on investments made within the first 7 days if those investments show a loss after year one, providing downside protection as you build familiarity with the platform.
How does mogul address liquidity for fractional property ownership?
Real estate investments are inherently less liquid than public stocks, but mogul addresses this through several mechanisms. Properties generally have a typical five to seven year hold, with the eventual sale subject to owner voting and property-specific circumstances, and investors receiving monthly income distributions once a property is operational. mogul provides monthly property valuations via third-party appraisal-level data. The platform also plans to introduce a secondary-market feature that would allow investors to sell shares. Learn more about how it works.
What makes mogul's $10,000 loss protection distinctive?
mogul's first-year loss protection covers up to $10,000 in losses on investments made within a new member's first 7 days if those investments show a loss after year one. This means if you invest $100,000 across multiple properties in your first week and that portfolio decreases to $90,000 after one year, mogul will cover that $10,000 loss from its own balance sheet. This risk mitigation feature is distinctive among fractional real estate platforms. For new investors building familiarity with fractional real estate, it provides meaningful security during the learning period.