Choosing a fractional real estate platform involves more than comparing headline returns. Structure, operating model, fees, investor protections, property selection, technology, and platform continuity all shape the investor experience. This comparison examines mogul, Arrived, and Addy, three platforms that have used different approaches to fractional real estate investing.
mogul is a fractional real estate investment club founded by former Goldman Sachs real estate professionals. Members receive fractional membership interests in property-specific LLCs tied to identified single-family rentals, providing asset-level economic and governance exposure without placing each investor directly on the deed. Arrived offers fractional residential real estate and fund products in the U.S. market. Addy has primarily served the Canadian market and completed a court-approved restructuring transaction in 2026 that was structured to preserve its core business while certain excluded obligations were transferred to a residual entity.
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
Institutional real estate experience: mogul was founded by former Goldman Sachs professionals with $10 billion+ in real estate deal experience. Its underwriting process accepts less than 1% of reviewed properties, according to the published property selection process.
First-year loss protection: mogul covers up to $10,000 in losses on qualifying investments made during a new member's first 7 days if the combined total return is negative at the one-year mark, subject to the promotion disclaimer.
Reported historical performance: mogul reports an 18.8% average annual return, expressed as IRR in its company materials. Arrived currently publishes an estimated historical return range of 6 to 10% annually for its single-family residential strategy. Arrived describes that range as illustrative, so the figures are not directly like-for-like.
Addy's 2026 restructuring: Addy Technology Corp. filed a Notice of Intention under Canada's Bankruptcy and Insolvency Act on April 16, 2026. The court-approved transaction completed on June 11, and the residual entity entered bankruptcy on June 15, according to the restructuring record and ResidualCo bankruptcy.
Distinct fee models: mogul uses a capitalized one-time fee structure and does not charge a traditional recurring annual AUM fee. Arrived's AUM fees vary by product and fee base.
Technology-enabled ownership records: mogul uses Avalanche blockchain infrastructure to provide an additional independently verifiable ownership-record layer, while property performance and fair-market-value information are presented through the platform. See blockchain in real estate for background.
Aligned capital: mogul states that it co-invests in every property offered on the platform, reinforcing alignment between management capital and member outcomes. The broader structure is discussed in real estate co-investments.
Understanding Platform Continuity: Addy's 2026 Restructuring
Platform continuity is a material consideration in fractional real estate because investors rely on technology, administration, reporting, and property-level structures over multi-year holding periods. Addy's 2026 proceedings provide a current example of how those considerations can intersect with formal restructuring.
Addy's formal 2026 status:
Addy Technology Corp. filed a Notice of Intention to Make a Proposal on April 16, 2026.
The Supreme Court of British Columbia granted a reverse vesting order on April 29, 2026.
The contemplated transaction completed on June 11, 2026, after which Addy Technology Corp.'s proposal proceedings terminated, according to the trustee record.
1591725 B.C. Ltd., the residual entity that received certain excluded debts and obligations, entered bankruptcy on June 15, 2026, as documented in the ResidualCo record.
Addy Dealer Corp., a wholly owned subsidiary that operated as an exempt market dealer, entered a separate bankruptcy proceeding on March 9, 2026, as documented in the dealer bankruptcy record.
In March 2025, Addy Technology Corp. entered a settlement with the British Columbia Securities Commission and paid $100,000 after admitting to engaging in the business of trading securities without registration, as documented in the BCSC settlement.
The reverse vesting transaction was structured as a going-concern outcome intended to preserve Addy's core business and platform continuity, while certain excluded liabilities and non-core assets were transferred to the residual entity. These proceedings do not imply one uniform outcome for every historical Addy investment. Historical offerings used different issuers and structures, including SPV arrangements and later direct securities offerings, so treatment can vary by issuer and investment structure. Public insolvency reporting provides additional transaction context.
mogul takes a differentiated approach through property-specific LLC membership interests, institutional underwriting, management co-investment, blockchain-supported ownership records, and first-year loss protection for qualifying new members. Its company materials also describe 12 months of operating reserves per asset and property and business interruption insurance as components of the operating framework.
Core Platform Positioning
mogul's approach:
mogul specializes in U.S. income-producing residential real estate, with primary operating strategies across short-term and mid-term rentals. The platform was built by former Goldman Sachs real estate professionals and gives members fractional interests in property-specific investment-club LLCs tied to identified homes. Members receive property-level economic and governance exposure under the applicable operating agreement. Current mogul brand materials report $90 million+ in assets invested through the platform and 40,000+ investors. For the platform process, see how mogul works.
Arrived's approach:
Arrived operates in the U.S. fractional real estate market and offers individual properties as well as fund products. As of September 3, 2026, Arrived's live pages reported approximately $463 million total invested and 996,000 registered investors, with more than 590 funded properties across 67+ active markets. Founded in 2019, its model emphasizes accessibility, product breadth, and national scale.
Addy's approach and restructuring:
Addy has primarily operated as a Canada-focused fractional real estate platform. It historically enabled investments from as little as $1 and used multiple issuer structures. Earlier offerings included SPVs that aggregated investor capital, while later activity also included direct securities offerings. Public insolvency reporting stated that the platform facilitated more than 60 issuances involving approximately 10,628 investors. Its 2026 reverse vesting transaction was structured to preserve the core business while excluded liabilities and non-core assets were moved to a residual entity.
The central distinction is structural. mogul combines institutional-quality single-family rental underwriting, property-specific LLC membership interests, management co-investment, a fee-efficient model, and differentiated new-member protection. Arrived emphasizes accessibility and scale across individual properties and funds. Addy's 2026 restructuring separated certain excluded obligations and non-core assets from the core business through a reverse vesting transaction.
Investment Options and Property Types
mogul's investment offerings:
Short-term rentals, including Airbnb-style stays of fewer than 30 days at higher-end homes, which mogul describes as higher yielding than traditional long-term rentals.
Mid-term rentals, generally involving stays longer than 30 days and shorter than one year, including workforce and shared-housing strategies.
Long-term residential rentals with longer tenant relationships.
Sale-leaseback arrangements where applicable.
Fractional membership interests in property-specific LLCs tied to individual available properties.
mogul's property-level model lets members select identified homes rather than limiting participation to pooled exposure. This creates direct visibility into the asset associated with each investment-club LLC interest.
Arrived's investment offerings:
Single-family rental properties.
Vacation rental properties.
Fund products for broader diversification, including single-family residential funds.
A Real Estate Income Fund with real estate-backed debt exposure.
Individual property selections across 67+ active U.S. markets.
Addy's historical investment offerings:
Canadian real estate opportunities.
Historical SPV-based structures.
Shares or limited-partnership units issued by various real estate entities.
Because Addy's historical offerings were not structured identically, legal rights, economics, liquidity, and restructuring treatment can differ across issuers.
Pricing and Fee Structures
Fee structure can materially affect long-term economics, particularly when platforms calculate charges on different bases.
mogul's pricing:
Average investment of approximately $10,000, with current brand materials separately reporting a typical portfolio allocation of $17,321 per property.
A 3% capitalized platform fee plus a potential 2% setup fee when additional property setup is required. These fees are calculated on the property purchase price and capitalized into the transaction.
No traditional recurring annual AUM fee.
An ongoing 2.5% fee applied to rental income.
Professional property management arranged by mogul, with applicable third-party operating expenses borne at the property level.
These charges are part of mogul's platform fee framework.
Arrived's pricing:
$100 minimum investment across current offerings.
A one-time sourcing fee is disclosed by offering. A 2026 SEC filing shows a 3.5% sourcing fee for certain individual single-family rental offerings.
Arrived's AUM fees vary by product and fee base. Current published rates include 0.15% of asset purchase price per quarter for individual single-family residential properties, 0.25% of net assets per quarter for the Single Family Residential Fund, and 0.30% of net assets per quarter for the Real Estate Income Fund. Vacation rental fees use a different rental-income-based structure.
Property management is 8% of gross rental income for SFRs and generally 15 to 20% for vacation rentals, with certain potential one-time lease-up, renewal, rehab, or turn expenses.
Addy's historical pricing:
Investments were available from as little as $1.
Addy historically offered an optional paid membership. Public settlement materials state that the annual membership fee was $25 before increasing to $50 in October 2022.
Offering and property-level expenses varied by issuer and asset.
Five-Year Cost Comparison Context
A generic five-year dollar comparison based only on a $10,000 investor contribution is not directly comparable because the platforms use different fee bases.
mogul's one-time fees are calculated on the property's purchase price and capitalized into the transaction, while the ongoing 2.5% fee applies to rental income. Arrived's AUM fee basis differs by product. Individual property AUM charges can be based on asset purchase price, while fund charges can be based on net assets, and property-management costs depend on actual rental income and property type. As a result, headline percentages alone do not translate into equivalent investor-level dollar costs.
The most defensible comparison is structural: mogul uses a front-loaded capitalized fee framework with no traditional recurring annual AUM charge, while Arrived applies recurring AUM charges that vary by product.
Performance and Return Profiles
mogul's reported performance:
18.8% average annual return, expressed as IRR in current company materials.
Monthly distributions of distributable net rental income once a property is operational and generating cash flow, subject to property performance and applicable expenses, debt service, fees, capital expenditures, and reserves.
First-year loss protection of up to $10,000 for qualifying new-member investments made during the first 7 days, subject to the promotion disclaimer.
Current company materials also describe approximately 10% average cash-on-cash yield annualized to date across the referenced portfolio.
mogul's materials cite single-family rentals at 13.8% IRR from 1993 through 2023 versus 9.8% for the S\&P 500 over the same period, based on NAREIT, U.S. Federal Reserve, Case-Shiller Home Index, and Bloomberg data. This is an asset-class comparison and is separate from mogul's own 18.8% reported average annual return.
Arrived's reported performance:
Estimated historical return range of 6 to 10% annually for its single-family residential strategy. Arrived describes this as illustrative and based on a combination of historical home appreciation and dividend assumptions rather than a realized platform-wide return figure.
A 3.5% average annualized dividend yield for individual properties in Q2 2026.
91.8% stabilized occupancy across individual properties in Q2 2026.
Monthly distributions for relevant income-producing products, subject to actual property or fund performance.
Addy's historical performance context:
Addy's 2026 restructuring means historical investment outcomes now depend on the specific issuer, ownership structure, underlying property, and treatment within the restructuring. A single platform-wide recovery or return figure would not accurately describe all historical Addy investments.
The performance figures used by mogul and Arrived are not directly equivalent. mogul reports an average annual IRR across platform assets, while Arrived's 6 to 10% range is an illustrative historical estimate for a diversified single-family residential strategy.
Investor Protections and Risk Management
The three platforms have used different legal structures, operating practices, and investor-protection mechanisms.
mogul's protections and operating practices:
First-year loss protection: up to $10,000 on qualifying investments made during a new member's first 7 days, subject to program terms.
Selective underwriting: less than 1% of reviewed properties pass the platform's published diligence process.
Management co-investment: mogul states that it invests alongside members in every property offered on the platform.
Property-specific LLC interests: members hold fractional membership interests tied to identified property LLCs, with governance rights defined by the applicable operating agreement.
Blockchain-supported records: Avalanche provides an additional independently verifiable ownership-record layer alongside conventional LLC and property documentation.
Operating reserves: company materials describe 12 months of operating reserves per asset.
Insurance: company materials describe property and business interruption insurance as part of the risk-management framework.
Arrived's structure and risk-management features:
Qualifying offerings are conducted under Regulation A Tier 2, which includes applicable disclosure and reporting requirements. A current SEC offering filing provides an example.
Individual properties are professionally vetted and managed.
The platform spans 67+ active markets.
Secondary market officially launched in November 2025, creating periodic trading opportunities for eligible shares when market demand is available. Liquidity is not guaranteed and depends on matching buyer and seller interest.
Addy's 2025 and 2026 corporate developments:
Addy entered a 2025 BCSC settlement relating to unregistered trading activity and paid $100,000.
Addy Technology Corp. completed a court-approved reverse vesting transaction in June 2026.
Certain excluded debts and obligations were vested into a residual entity that entered bankruptcy on June 15, 2026.
Addy Dealer Corp. entered a separate bankruptcy proceeding on March 9, 2026.
mogul's combination of property-specific LLC membership, co-investment, selective underwriting, operating reserves, insurance practices, and qualifying loss protection creates a differentiated risk-management framework within this comparison.
Technology and Transparency
mogul's technology infrastructure:
Avalanche blockchain infrastructure for an additional independently verifiable ownership-record layer.
Fireblocks enterprise digital-wallet infrastructure.
Account creation or investment selection can be completed in approximately 30 seconds, while identity verification, bank funding, and eligibility review remain part of onboarding.
Monthly fair-market-value estimates using third-party appraisal-level data.
Property performance and distribution information through the member dashboard.
Free educational tools that can analyze U.S. addresses, including the investment property calculator, rental property calculator, and Airbnb calculator.
mogul uses blockchain as back-end infrastructure rather than as a crypto investment product. Its company materials describe blockchain as a way to improve back-office efficiency and provide an additional transparent record layer, while monthly fair-market-value estimates are calculated using third-party appraisal-level data. mogul currently labels secondary-market share trading as "Coming soon" on its How It Works page, with its blockchain infrastructure intended to support that feature.
Arrived's technology:
Web-based investor dashboard.
iOS mobile application, with a 4.8/5 rating displayed on Arrived's current site as of September 3, 2026.
Cash Balance for receiving distributions and manually funding subsequent investments.
Secondary market officially launched in November 2025 for eligible shares; liquidity is not guaranteed and transactions depend on matching market demand.
As of the current Help Center update, automatic reinvestment into the Real Estate Income Fund was not available.
Addy's historical technology:
Addy's platform supported digital access to real estate issuer securities, including shares and limited-partnership units. Its technology and transaction model evolved over time alongside changes in offering structure.
Property Selection and Due Diligence
mogul's selection methodology:
Less than 1% of reviewed properties pass the platform's published diligence process.
Institutional-style underwriting incorporates automated valuation models, comparative analysis, market data, predictive analytics, and risk scoring.
The underwriting process applies a defined return threshold as part of its screening criteria.
mogul states that it co-invests in every property offered.
Research analysts and institutional partners identify properties that fit the platform's buy box.
Current company materials describe a focus on high-growth secondary markets, strong price-to-rent dislocation, and off-market opportunities purchased approximately 8% to 10% below market value with verified operating actuals.
The detailed property selection process reflects the founders' institutional real estate background and reinforces mogul's institutional-quality positioning. mogul also describes the data and methods used in its free property-analysis tools as comparable to those used by professional real estate firms.
Arrived's selection process:
Property selection focused on professionally vetted investments.
Professionally vetted individual property investments.
Market selection across 67+ active U.S. markets.
more than 590 properties funded as of September 3, 2026.
A model designed for scale and geographic diversification.
Addy's historical selection model:
Historical Addy offerings were issued through different entities and structures. Property-level diligence, management responsibility, and operating terms therefore varied by issuer rather than following one uniform property model across every historical investment.
Alignment of interests is an important differentiator in mogul's model. The company states that its own capital sits alongside member capital in every property, pairing its underwriting standards with direct economic participation in the same asset outcomes.
Distribution Frequency and Cash Flow
mogul distributions:
Monthly distributions of distributable net rental income once a property is operational and generating cash flow, proportional to ownership interest and subject to actual property performance.
Distributions reflect net cash available after applicable operating expenses, debt service, fees, capital expenditures, and reserves.
Property-level tax items, including potential depreciation allocations, may pass through on Schedule K-1. The practical tax effect depends on the offering and the member's individual circumstances.
Proceeds from an eventual property sale, subject to the applicable property and governing documents. mogul currently describes a 3 to 10 year hold range, with 5 to 7 years typical.
Arrived distributions:
Monthly distributions for relevant products, subject to property or fund performance.
Cash Balance can receive distributions and be used to manually fund subsequent investments.
Property-sale proceeds depend on the applicable offering and realized sale outcome.
Addy historical distributions:
Distribution schedules and realized outcomes varied by issuer, property, and investment structure.
For mogul members, monthly distributions can create more frequent opportunities for reinvestment and potential compound growth, depending on member decisions and actual property performance.
Backing and Market Credibility
mogul's credentials:
Founded by former Goldman Sachs real estate professionals with $10 billion+ in combined deal experience.
Co-founder Joey Gumataotao helped grow Goldman Sachs' single-family rental platform from $0 to $1 billion in under 12 months with a small team.
A $3.6 million seed round was led by Anitha Vadavatha of AY Ventures and included Tim Draper & Associates, Draper B1, InterVest, Draper Dragon, Blizzard the Avalanche Ecosystem Fund, and other investors. Earlier mogul materials also describe Draper as having backed the company at the pre-seed stage. The funding announcement provides additional context.
Company materials identify advisors and investors associated with Draper Associates, Ava Labs, J.P. Morgan, Goldman Sachs, Carlyle, Ripple co-founder Chris Larsen, and 43rd U.S. Treasurer Rosa Rios.
Current brand materials report $90 million+ in assets invested through the platform and 40,000+ investors.
Featured in TechCrunch, Forbes, Wired, Fox Business, and Fortune-related coverage.
Tim Draper has publicly highlighted the team's experience and ambition, while Rosa Rios has emphasized the combination of real estate, technology, and the founders' institutional backgrounds. Chris Larsen has highlighted blockchain's potential to make real estate more accessible. Additional company context is available on about mogul.
Arrived's credentials:
Founded in 2019 and operating with a multi-year track record.
Backers have included Bezos Expeditions and Marc Benioff.
Approximately 996,000 registered investors as of September 3, 2026.
more than 590 funded properties across 67+ active markets.
A product set spanning individual rentals, funds, and residential-backed credit.
Addy's historical credentials:
Founded in 2018.
Public insolvency reporting described more than 60 issuances involving approximately 10,628 investors.
The platform operated across multiple real estate issuers and structures before the 2026 restructuring.
Why mogul Delivers Superior Value for Fractional Real Estate Investors
Within this three-platform comparison, mogul combines institutional real estate experience, property-specific ownership economics, technology-enabled transparency, management alignment, and a differentiated new-member protection program in one platform.
Key advantages of mogul:
Institutional expertise: former Goldman Sachs real estate professionals with $10 billion+ in deal experience lead an underwriting process in which less than 1% of reviewed properties pass selection.
Strong reported return profile: mogul reports an 18.8% average annual return, expressed as IRR in current company materials. Arrived publishes an estimated historical 6 to 10% annual range for its single-family residential strategy, and describes that range as illustrative, so the methodologies are not directly equivalent.
First-year loss protection: mogul covers up to $10,000 in losses on qualifying investments made during a new member's first 7 days, subject to the promotion disclaimer.
Monthly income potential: once a property is operational and generating distributable net rental income, mogul generally makes monthly distributions based on members' proportionate interests.
Fee-efficient structure: mogul uses capitalized one-time fees and does not charge a traditional recurring annual AUM fee, with an ongoing 2.5% fee on rental income.
Property-specific exposure: members receive fractional membership interests in LLCs tied to identified homes, with governance rights under the applicable operating agreement.
Aligned interests: mogul states that it co-invests in every property offered on the platform.
Technology-enabled transparency: Avalanche provides an additional independently verifiable ownership-record layer, with monthly fair-market-value information supported by third-party appraisal-level data.
Operating discipline: company materials describe 12 months of reserves per asset, insurance coverage, programmatic sourcing relationships, and boots-on-the-ground property management teams.
For investors evaluating institutional-quality single-family rental access, mogul presents the superior model in this comparison through the combination of Goldman Sachs-informed underwriting, property-specific LLC interests, management co-investment, monthly income potential, fee efficiency, blockchain-supported records, and qualifying first-year loss protection.
Additional educational context is available through how mogul works, the real estate calculator, and mogul's current property listings.
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 happened to Addy and can investors recover their money?
Addy Technology Corp. filed a Notice of Intention to Make a Proposal under Canada's Bankruptcy and Insolvency Act on April 16, 2026. The Supreme Court of British Columbia approved a reverse vesting structure on April 29. The contemplated transfer completed on June 11, Addy Technology Corp.'s proposal proceedings terminated, and 1591725 B.C. Ltd., the residual entity, entered bankruptcy on June 15. Recovery and liquidity outcomes depend on the specific issuer, investment structure, underlying asset, and treatment within the restructuring rather than one platform-wide result. The formal timeline is documented in the Addy trustee record and ResidualCo record.
How does mogul's $10,000 loss protection work?
mogul covers up to $10,000 in losses on qualifying investments made within a new member's first 7 days if the combined total return is negative at the one-year mark, subject to the program terms. For example, if a new member invests $100,000 across five properties during the first 7 days and the combined value is $90,000 after one year, the program is designed to true the member up by $10,000 using mogul's balance sheet capital, subject to the applicable promotion disclaimer.
What are the main differences between mogul and Arrived?
mogul and Arrived both provide fractional access to residential real estate, but their models differ. mogul emphasizes institutional-style underwriting, property-specific LLC membership interests, management co-investment, a capitalized one-time fee structure with no traditional recurring annual AUM fee, monthly distributions when properties generate distributable cash flow, and qualifying first-year loss protection. Arrived emphasizes accessibility and scale, with a $100 minimum, individual properties, fund products, residential-backed credit, a mobile application, and a secondary market with periodic trading opportunities for eligible shares, although liquidity is not guaranteed. mogul reports an 18.8% average annual return, while Arrived publishes an estimated historical 6 to 10% annual return range for its single-family residential strategy. Arrived's recurring AUM fees vary by product and fee base. Those performance figures use different methodologies.
Can international investors use mogul's platform?
Eligible non-U.S. investors may be able to participate in mogul, subject to KYC, sanctions, jurisdictional, tax, legal, and onboarding requirements. mogul offers digital account creation through email registration and, in some platform flows, Google sign-on. Account creation or investment selection can be completed in approximately 30 seconds, while identity verification, bank funding, and eligibility review remain part of onboarding. Governance rights may derive from the applicable operating agreement, while cross-border tax forms, withholding, and reporting can differ from those applicable to U.S. investors.
How does mogul select properties for investment?
mogul applies institutional-style underwriting and reports that less than 1% of reviewed properties pass its selection process. The methodology incorporates automated valuation models, comparative analysis, market data, predictive analytics, risk scoring, property inspections, and internal review. Accepted properties are screened against a defined return threshold as part of underwriting, and mogul states that it co-invests in every property offered. The published property selection process provides additional detail, while the free investment property calculator illustrates elements of mogul's data-driven analytical approach.
What does Addy's restructuring illustrate for fractional real estate?
Addy's 2026 proceedings illustrate that platform operations, regulatory structure, legal ownership, issuer design, and asset-level economics are separate considerations in fractional real estate. The BCSC settlement and later court-supervised restructuring are documented public events, while outcomes for historical investors depend on the specific issuer and investment structure. mogul differentiates its model through former Goldman Sachs real estate leadership, property-specific LLC membership interests, management co-investment, blockchain-supported ownership records, operating reserves, insurance practices, and qualifying first-year loss protection. The platform structure is summarized in how mogul works.