Choosing the right fractional real estate platform shapes how effectively you can build long-term wealth through property ownership. mogul, Arrived, and Cadre represent three distinct approaches to fractional real estate investing, each targeting different investor profiles and offering fundamentally different structures. mogul delivers property-specific fractional ownership in single-family rentals through membership interests in property-specific LLCs, institutional-style underwriting, and blockchain-verified ownership records, while Arrived focuses on accessibility with low entry points, and Cadre historically served accredited investors with commercial real estate. Cadre is no longer opening new Cadre accounts and now directs prospective investors to Willow Wealth. Understanding these distinctions helps investors select the platform that aligns with their capital, risk tolerance, and income 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.
Key Takeaways
mogul's team of former Goldman Sachs executives applies institutional-style underwriting, and mogul reports that fewer than 1% of reviewed properties pass its selection process, with a typical portfolio allocation of approximately $17,321 per property
mogul reports an 18.8% average annual IRR, while Arrived publishes a 6-10% "estimated historical return range" for single-family residential. Arrived's figure is a modeled, hypothetical IRR built from home-price and dividend data ending Q1 2023, so the two metrics use different methodologies and periods and are not directly comparable
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 unique risk mitigation feature in the fractional real estate space
mogul's blockchain integration on the Avalanche network delivers independently verifiable, real-time ownership records, with property valuations and performance reported separately, including monthly updates
mogul charges a 0% recurring AUM-based management fee, which under mogul's illustrative five-year fee model on a $10,000 investment produces approximately $420 lower modeled fees than Arrived
Cadre no longer opens new Cadre accounts and routes prospective users to Willow Wealth, while existing Cadre investors retain access to their accounts and portfolios
When investors evaluate fractional real estate platforms, the choice between mogul, Arrived, and Cadre represents three distinct philosophies toward property investment. While Arrived has built scale with over 992,000 registered investors, mogul brings a technology-forward approach with former Goldman Sachs expertise to the single-family rental market, with $90M+ in assets invested through the platform and 90% of mogul investors investing a second time, typically at 3x their first investment. This comparison shows why mogul's combination of reported returns, ownership transparency, and underwriting selectivity delivers compelling value for investors seeking property-specific residential exposure.
Understanding Each Platform's Core Positioning
mogul takes a focused approach to fractional real estate. Founded by former Goldman Sachs real estate executives, mogul says its team applies institutional-style underwriting informed by more than $10 billion of combined real estate investing experience. The platform specializes in single-family residential rentals including short-term and mid-term strategies. Rather than allocating capital to a pooled fund, mogul offers property-specific fractional ownership: investors purchase membership interests in an LLC that owns an identifiable home.
Arrived positions itself as an accessible entry point into real estate, offering fractional shares in single-family and vacation rental properties. The platform has built substantial scale, reporting 589+ properties funded across 67+ active markets as of August 2026, and emphasizes a $100 minimum investment. Arrived offers both individual property investments and fund products, including an SFR Fund and the Real Estate Income Fund (formerly the Private Credit Fund, renamed in 2026), along with City Funds.
Cadre historically focused on institutional-quality commercial real estate for accredited investors, with a $25,000 Direct Access Fund minimum and a $50,000 historical deal-by-deal minimum. The platform was acquired by Yieldstreet in January 2024, and the Yieldstreet brand became Willow Wealth in November 2025. Corporate filings show RealCadre LLC became Yieldstreet Markets LLC effective January 15, 2025 and then Willow Wealth Markets LLC effective September 29, 2025. Today, Cadre no longer creates new accounts and sends prospective investors to Willow Wealth, while existing Cadre investors can still log in and view their portfolios.
The fundamental difference: mogul provides property-specific residential exposure through LLC membership interests in homes you can identify by address, backed by selective institutional-style underwriting, while Arrived prioritizes accessibility, and Cadre is closed to new accounts.
Investment Options and Strategic Approaches
mogul's investment offerings focus on:
Short-term rentals: Airbnb-style properties with the potential for higher revenue or yields in suitable markets, subject to property-specific performance
Mid-term rentals (stays longer than 30 days and shorter than one year, addressing workforce housing demand)
Long-term residential rentals with stable tenant relationships
Sale-leaseback structures
Potential pass-through tax benefits, including depreciation allocations reported on Schedule K-1, with actual deductibility depending on the investor's circumstances and applicable tax rules
Property-specific LLC membership interests in individual properties, including governance rights and pro-rata sale proceeds
mogul's model enables investors to select specific properties rather than allocating to a pooled fund, providing transparency into exactly which home their capital supports.
Arrived's investment portfolio includes:
Individual single-family rental properties (long-term rentals)
Vacation rental properties (short-term rentals)
SFR Fund for diversified residential exposure
Real Estate Income Fund (formerly the Private Credit Fund) for debt-focused returns
City Funds for market-specific exposure
Cadre's historical offerings included:
Commercial real estate deals (office, retail, multifamily)
Direct Access Fund for diversified commercial exposure
Quarterly secondary-market windows offering potential liquidity, with execution and pricing not assured
Note: Cadre is no longer creating new accounts and directs prospective users to Willow Wealth; existing Cadre investors retain access to their accounts.
Pricing Structures Reveal Long-Term Value
The pricing models demonstrate each platform's approach to fee structures and investor value.
mogul's pricing structure:
Typical portfolio allocation of approximately $17,321 per property
A capitalized one-time fee of up to 5%. Detailed terms itemize this as 3% of purchase price plus a potential additional 2% setup fee where additional setup is required. Offering documents control
0% recurring AUM-based management fee
An ongoing fee equal to 2.5% of collected rental income. Third-party property-management costs and other property-level operating expenses are borne by the Property LLC
mogul's illustrative five-year platform-fee model estimates approximately $650 in platform fees on a $10,000 investment under its stated assumptions ($500 upfront plus roughly $150 in rental-income fees). Actual property-level costs vary
Arrived's pricing structure:
$100 minimum investment
An offering-specific one-time sourcing fee. Recent 2026 SEC filings for individual property series show sourcing fees of roughly 2.9% of gross proceeds in numerous examples
AUM fees of 0.15% per quarter (0.60% annualized) for individual SFR properties, 0.25% per quarter (1.00% annualized) for the SFR Fund, and 0.30% per quarter (1.20% annualized) for the Real Estate Income Fund. Vacation-rental AUM fees are variable based on rental income and have historically averaged about 0.10% of initial investment per quarter
Property management expenses of 8% of gross rental income for SFR properties and 15% to 20% for vacation rentals, depending on market and property-management partner, plus possible one-time lease-up, renewal, rehab, and turn expenses
Assumed property sale and disposition costs. Arrived's return methodology models 6% property disposition costs, and its valuation methodology describes disposition costs as items such as agent commissions and closing fees. These are modeled selling costs rather than a universal platform disposition fee
Under mogul's illustrative five-year fee model, total modeled costs of approximately $1,070+ on a $10,000 investment. Actual totals vary by product, offering, and exit route
Cadre's pricing:
$25,000 Direct Access Fund minimum; $50,000 historical deal-by-deal minimum
Approximately 1.5% annual asset-management fees, approximately 1.0% transaction fees, and potentially a separate administration fee of up to 0.5%, per current Cadre terms
Accredited-investor status required for the Direct Access Fund
Under mogul's published illustrative comparison, which models a $10,000 individual single-family rental investment held for five years, mogul estimates approximately $650 in modeled fees versus approximately $1,070+ for Arrived, a difference of roughly $420, or about 39% lower modeled fees. That result reflects that scenario's stated assumptions. Across the fractional real estate space more broadly, sourcing fees tend to be offering-specific, AUM rates vary by product, and exit costs depend on how a position is ultimately sold, so modeled totals differ from platform to platform. Five years is simply the comparison period used in this fee illustration, not a universally optimal holding period.
Target Investors Align with Different Objectives
mogul targets:
First-time real estate investors entering the asset class
Existing property owners evaluating portfolio performance
Seasoned investors seeking higher risk-adjusted returns
Tech-forward investors valuing verifiable blockchain ownership records
Those seeking monthly income potential from real estate
Arrived primarily serves:
Beginners with modest starting capital
Investors prioritizing low entry barriers
Those seeking diversified residential exposure through funds
Cadre historically served:
Accredited investors only
High-net-worth individuals with $25,000+ to deploy
Those seeking commercial real estate exposure
This distinction matters fundamentally. Investors seeking their first real estate position or building diversified property portfolios benefit from mogul's approach, which combines accessibility with institutional-style underwriting and target annual IRRs of approximately 15% to 20% across current offerings, alongside a company-stated 12% minimum projected bear-case IRR hurdle. These are underwriting targets, not assured results. The platform enables portfolio building one property at a time, with visibility into each investment's reported performance.
Performance and Return Profiles
Both operating platforms report performance metrics, though the nature and construction of those returns differ significantly.
mogul's performance data:
18.8% average annual IRR reported across platform properties
Target annual returns of 15% to 20% IRR, with a company-stated 12% minimum projected bear-case IRR hurdle. These are underwriting targets
Monthly distributions of distributable net rental income once a property is operational and cash-flowing
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
Arrived's performance data:
A 6-10% estimated historical return range for single-family residential. Arrived describes this as a hypothetical modeled IRR combining Zillow home-price appreciation and Arrived dividend data ending Q1 2023, using assumptions that include a seven-year hold, 6% property disposition costs, and 3% annual NOI growth
Q1 2026: an average annualized dividend rate of 3.6% across stabilized individual SFR properties; the comparable Q2 2026 average was 3.5%
Stabilized occupancy across individual properties of 95.2% in Q1 2026 and 91.8% in Q2 2026
At least $106 million in cumulative distributions paid to investors, per Arrived's Returns page as of August 2026
Arrived's Real Estate Income Fund separately reports an 8.45% last-12-month annualized dividend yield as of July 2026
Cadre's performance data:
No recent audited, Cadre-specific performance update covering 2023 through 2026 is readily publicly available, and the platform is closed to new accounts
Because mogul's reported IRR and Arrived's estimated range are constructed on different methodologies, data windows, and assumptions, they should not be presented as a like-for-like ratio. mogul's stated metric is numerically higher than Arrived's hypothetical estimated single-family residential range, and mogul's 15% to 20% underwriting target sits well above Arrived's modeled band, though a rigorous comparison requires normalizing for period, leverage, fees, risk, and realized versus unrealized treatment.
The $10,000 loss protection represents a unique 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 their own balance sheet.
mogul's focus on single-family rentals positions investors in an asset class that, according to mogul's analysis of Federal Reserve and Case-Shiller Home Index data, returned 13.8% IRR versus 9.8% IRR for the S\&P 500 on an annual basis from 1993 to 2023.
Technology and Transparency Approaches
mogul's technology infrastructure:
Avalanche blockchain integration that records and tokenizes investor ownership interests, providing independently verifiable, real-time ownership verification
Fireblocks secure digital-wallet infrastructure used to create investor wallets and hold ownership tokens
Property performance and valuation information reported separately from the chain, including monthly updates
Investment execution in approximately 30 seconds or less
Monthly fair-market-value calculations using third-party appraisal-level data
Arrived's technology:
Web-based investor portal
Mobile app with a 4.8/5 App Store rating
Property-specific projections and analytics
Secondary market with monthly, one-week trading windows, launched February 5, 2025
Cadre's technology:
Institutional-grade deal analytics
Quarterly secondary-market windows, with an exit and exit price not assured. Corporate filings confirm the Willow Wealth Markets/RealCadre lineage operates an alternative trading system for secondary transactions
Cadre's site directs new investors to Willow Wealth while existing Cadre investors can still log in
mogul's blockchain backbone provides permanent, independently verifiable ownership records that exist outside the platform's own database. This infrastructure also supports mogul's planned secondary market for share trading.
Property Selection and Due Diligence
mogul's selection methodology:
mogul reports that fewer than 1% of reviewed properties pass its diligence process
Proprietary underwriting models combining AVM and CMA-style analytical inputs
Institutional-style analysis drawn from the founding team's former Goldman Sachs background
mogul states that it co-invests in every property offered
Research analysts and institutional partners identify maximum upside potential
Arrived's vetting process:
Arrived states it selects 0.2% of properties
Third-party property-management partners for many assets, with portions of vacation-rental management brought in-house between November and April, when 16 vacation-rental properties moved from Boutiq to Arrived Property Management
Focus on scalability across multiple markets
Cadre's historical approach:
Institutional-quality commercial properties, including office, multifamily, and retail
Experienced sponsor evaluation
Historically targeted commercial properties valued at roughly $50 million to $200 million each
The alignment of interests matters: mogul states that its capital sits alongside investor capital in every property, which helps align economic incentives between management and investors.
mogul's free investment property calculator lets investors analyze any U.S. address, projecting rental income, ROI, IRR, and cash-on-cash yields across multiple scenarios. mogul says the calculator uses data and analytical tools comparable to those used by professional real estate firms.
Distribution Frequency and Cash Flow
For investors prioritizing regular income, distribution schedules significantly impact cash flow management.
mogul distributions:
Monthly proportional distributions of distributable net rental income, once a property is operational and cash-flowing, subject to actual property performance and available cash
Amounts reflect actual property results after expenses, debt service, fees, and reserves, so gross rent is not the same as investor distributions
Potential yearly pass-through tax benefits, including depreciation allocations reported on Schedule K-1, with deductibility depending on basis, at-risk rules, participation, income, and other investor-specific limits
Pro-rata proceeds from eventual property sales, with an intended hold of 3 to 10 years and approximately 5 to 7 years typical within that range. Offering documents control
Arrived distributions:
Monthly distributions for individual properties once income-producing
Monthly expected dividends for the SFR Fund and the Real Estate Income Fund. The quarterly schedule applies to fund share redemption windows, subject to eligibility and limits, not to income distributions
Typical individual-property guidance of 5 to 7 year hold periods for long-term rentals and 5 to 15 years for vacation rentals, with each property carrying a unique anticipated hold. Newer April 2026 guidance describes 5, 7, or 10 year assumptions for financed properties, 5 to 15 years for unfinanced properties, and 5 to 20 years for fund portfolios
Cadre distributions:
Typically quarterly, subject to underlying property cash flow
3 to 8 year typical hold period per asset
mogul's monthly distribution cadence, once a property is operational and generating distributable net rental income, supports frequent reinvestment opportunities. Monthly payment schedules appear in various forms across the fractional real estate space, so mogul's clearest points of differentiation lie in structure (property-specific LLC interests rather than pooled fund shares), fee mechanics (no recurring AUM-based fee), and underwriting selectivity.
Why mogul Delivers Superior Value for Real Estate Investors
Investors seeking accessible entry into real estate face a clear choice between platforms, and mogul stands out across the metrics that matter most for long-term wealth building.
Key advantages of mogul's approach:
Higher reported and targeted returns: mogul reports an 18.8% average annual IRR and underwrites to a 15% to 20% target IRR with a company-stated 12% minimum projected bear-case hurdle. Arrived's published comparator is a modeled 6-10% estimated historical range built on data ending Q1 2023. The methodologies differ, so treat this as a difference in stated and targeted figures rather than a normalized head-to-head result.
Property-specific ownership: Invest in individual properties through membership interests in property-specific LLCs rather than pooled funds, with governance rights and pro-rata sale proceeds. Investors know exactly which home their capital supports.
Monthly income potential: Receive monthly proportional distributions of distributable net rental income once a property is operational and cash-flowing, subject to actual performance and available cash.
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 protection feature unique among fractional real estate platforms.
No recurring AUM-based fee: mogul charges a 0% recurring AUM-based management fee. Under mogul's illustrative five-year, $10,000 fee model, that structure produces approximately $420, or about 39%, lower modeled fees than Arrived under that scenario's assumptions. An ongoing 2.5% fee on collected rental income still applies, and property-level operating expenses are borne by the Property LLC.
Institutional-style underwriting: mogul says its former Goldman Sachs team applies institutional-style underwriting informed by more than $10 billion of combined real estate investing experience, and reports that fewer than 1% of reviewed properties pass its screening.
Blockchain-verified ownership: Avalanche network integration provides immutable, independently verifiable ownership records and supports mogul's planned secondary market.
Aligned interests: mogul states that it co-invests in every property alongside platform investors, helping align economic incentives.
Open to new investors: Unlike Cadre, which no longer creates new accounts, mogul provides an operational platform for building a residential real estate portfolio today.
For investors seeking headache-free fractional real estate with monthly income potential, selective institutional-style property underwriting, and property-specific ownership in identifiable single-family rentals, mogul represents the superior approach to building a real estate portfolio. The combination of reported returns, ownership transparency, and Goldman Sachs-level expertise 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 main difference between mogul and Arrived?
mogul and Arrived both offer fractional ownership in residential real estate, but they differ in structure, fees, and reported returns. mogul reports an 18.8% average annual IRR and targets 15% to 20% annually, while Arrived publishes a 6-10% estimated historical return range that is a modeled figure using data ending Q1 2023, so the two are not constructed the same way. mogul charges a 0% recurring AUM-based management fee, while Arrived charges 0.60% annualized for individual SFR properties, 1.00% for the SFR Fund, and 1.20% for the Real Estate Income Fund, with variable vacation-rental AUM fees. mogul's founding team includes former Goldman Sachs executives, and mogul states it co-invests in every property. mogul also offers up to $10,000 in loss protection for new members, a feature not offered elsewhere in the fractional real estate space.
Is Cadre still accepting new investors?
No. Cadre no longer creates new accounts and directs prospective users to Willow Wealth, though existing Cadre investors can still log in and view their portfolios. The platform was acquired by Yieldstreet in January 2024, and the Yieldstreet brand became Willow Wealth in November 2025. Investors seeking new fractional real estate opportunities can consider alternatives like mogul, which is open to non-accredited investors without the accreditation requirements Cadre applies to its Direct Access Fund. You can browse current properties on the mogul platform.
How does mogul's loss protection work?
mogul's 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. For example, if you invest $100,000 across properties during your first week and that portfolio drops to $90,000 after one year, mogul will cover that $10,000 loss from their own balance sheet. This unique risk mitigation feature is not offered by other fractional real estate platforms.
What kind of returns can I expect from mogul?
mogul reports 18.8% average annual returns (IRR) across platform properties, with target returns of 15% to 20% annually and a company-stated 12% minimum projected bear-case IRR hurdle. These are underwriting targets, not assured results. The platform focuses on single-family rentals, an asset class that, according to mogul's analysis of Federal Reserve and Case-Shiller Home Index data, returned 13.8% IRR versus 9.8% IRR for the S\&P 500 from 1993 to 2023. Returns vary by property, market conditions, and hold period. mogul provides detailed underwriting for each property, including projected yields, annual revenue, and scenario analysis through its free real estate calculator.
How do fees compare across these three platforms?
mogul charges a capitalized one-time fee of up to 5% (itemized in detailed terms as 3% plus a potential 2% setup fee where additional setup is required) and a 0% recurring AUM-based management fee, plus an ongoing 2.5% fee on collected rental income. Under mogul's illustrative five-year model on a $10,000 investment, that totals approximately $650 in platform fees, versus approximately $1,070+ for Arrived under the same model. Arrived's actual cost stack is offering-specific: a one-time sourcing fee that varies by offering (recent 2026 SEC filings show roughly 2.9% of gross proceeds for several individual series), 0.60% to 1.20% annualized AUM fees depending on product, 8% of gross rental income for SFR property management and 15% to 20% for vacation rentals, and assumed disposition costs that Arrived models at 6% rather than charging as a universal platform fee. Cadre lists roughly 1.5% annual asset management, about 1.0% transaction fees, and potentially up to 0.5% administration fees with a $25,000 Direct Access Fund minimum, but is no longer opening new accounts. You can model mogul scenarios with the free rental property calculator.