Choosing the right fractional real estate platform shapes your long-term wealth trajectory. mogul, Arrived, and Crowd Street represent three distinct approaches to property investment, each targeting different investor profiles with fundamentally different structures. mogul delivers property-specific fractional ownership in single-family rentals through LLC membership interests tied to identifiable homes, blockchain-recorded ownership, and institutional-style underwriting. Arrived offers individual residential rental properties alongside several fund products at a $100 minimum. Crowd Street is an accredited-investor private-markets platform spanning private equity, private credit, real estate funds, direct-deal commercial real estate, and venture capital. Understanding these distinctions helps investors select the platform that aligns with their capital, risk tolerance, and income objectives. Browse mogul's current properties to see institutional-quality investments in action.
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 real estate professionals applies an institutional-style underwriting process informed by their prior institutional investing experience, with less than 1% of reviewed properties passing selection and a 15-20% target annual IRR presented as an underwriting projection rather than a guarantee
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 downside-protection feature in fractional real estate
mogul reports an 18.8% average annual return across platform properties, compared with the S\&P 500's 9%, alongside 40,000+ investors on platform and $90mm+ of assets invested through the platform
mogul charges no recurring AUM-based annual management fee on invested principal. Its current disclosures include a one-time capitalized platform fee of up to 5% and an ongoing fee equal to 2.5% of collected rental income
mogul's blockchain integration on the Avalanche network records investor ownership information on-chain, with those records independently inspectable through Snowtrace, and supports an in-development secondary market
Arrived offers the lowest entry point at a $100 minimum, with 589+ funded properties across 67+ active markets. Its individual single-family properties averaged a 3.6% annualized dividend rate in Q1 2026 and 3.5% in Q2 2026
Crowd Street minimums generally start at $25,000 and require accredited investor status, with nearly $4.5 billion of equity deployed across roughly 800 transactions since its 2013 founding
Understanding Fractional Real Estate Investing Platforms
Fractional real estate investing enables individuals to own stakes in income-producing properties without purchasing entire buildings. This approach opens access to an asset class historically dominated by institutions and high-net-worth investors, providing exposure to rental income and property appreciation without whole-property ownership. Most high-net-worth individuals and family offices allocate roughly 23% of their portfolios to real estate, and fractional access allows investors to build portfolios with comparable exposure for a fraction of the time and cost. Distribution frequency, tax treatment, leverage, liquidity, and return sources vary by offering rather than applying uniformly across the category.
The three platforms in this comparison represent distinct philosophies:
mogul specializes in residential single-family rentals, with primary operating models across short-term and mid-term strategies alongside long-term leases. Each property is placed into a state-registered LLC, and investors purchase membership interests tied to a specific, identifiable home rather than taking blind pooled fund exposure.
Arrived offers individual rental properties plus several fund products, including its Single Family Residential Fund, Real Estate Income Fund, and City Fund. The platform reports roughly 993,000 registered investors and about $459 million invested, along with 589+ funded properties across 67+ active markets. It continues to operate an existing vacation-rental portfolio while focusing on the homes it already owns, and has paused new vacation-rental acquisitions.
Crowd Street serves accredited investors across private equity, private credit, real estate funds, direct-deal commercial real estate, and venture capital. The company transitioned from its former one-word branding to the two-word "Crowd Street" in May 2025, though legal entities such as CrowdStreet Capital LLC retain the legacy spelling.
The fundamental distinction: mogul provides property-specific fractional exposure to residential homes you can identify by address, Arrived offers accessible residential exposure through individual properties and funds, and Crowd Street delivers broad private-markets access for accredited investors.
mogul: Institutional-Grade Expertise Meets Accessible Investing
mogul is a fractional real estate platform club founded by former Goldman Sachs executives with $10 billion or more in collective deal experience. Before founding mogul, co-founder Joey Gumataotao grew Goldman Sachs' single-family rental platform from $0 to $1 billion in under 12 months, and that institutional background informs an institutional-style property selection and underwriting process today.
mogul's mission is to make real estate, the world's largest wealth generator, accessible to investors. The platform now counts 40,000+ investors and $90mm+ of assets invested, and 90% of mogul investors invest a second time, typically at roughly 3x their first investment.
The Goldman Sachs Advantage
mogul's founding team built their expertise structuring deals for one of Wall Street's most demanding institutions. That analytical discipline now shapes how every property on the platform is evaluated:
Less than 1% acceptance rate: mogul's research analysts and institutional partners review hundreds of properties, with only the top performers reaching investors as professionally vetted and managed opportunities
12% minimum projected IRR hurdle: mogul says properties must satisfy this projected screening threshold, described in its current materials as a bear-case hurdle inclusive of stated one-time fees. It is a screening assumption rather than a stated investor outcome
Proprietary underwriting models: combining automated valuation models (AVMs) and comparative market analysis (CMA) tools alongside inspections, scenario analysis, and investment-committee review
Aligned interests: mogul states that it invests in every property offered on the platform
Performance Metrics and Risk Mitigation
mogul reports an 18.8% average annual return (IRR) across platform properties, with target returns of 15-20% annually presented as underwriting projections rather than guarantees. On the asset class itself, mogul's materials cite 13.8% annualized returns for single-family rentals versus 9.8% for the S\&P 500 over the 1993 to 2023 period, a roughly 4 percentage point annualized advantage, with standard deviation of 2.3% for single-family rentals versus 4.2% for the index. Across a 30-year hold, mogul cites single-family rentals returning on average 190% more than the S\&P 500 with 45% less volatility. Sources cited in mogul's materials include NAREIT, the US Federal Reserve, the Case-Shiller Home Index, and Bloomberg.
The $10,000 loss protection reflects mogul's commitment to investor success. 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 capital. Program specifics are set out in mogul's promotion disclaimer.
Exploring mogul's Diverse Property Offerings
mogul's investment portfolio spans multiple residential rental strategies, each targeting different yield and appreciation profiles:
Short-term rentals (STR): Airbnb-style properties that can generate higher gross revenue through premium nightly pricing in suitable markets, subject to occupancy, seasonality, legal status, average daily rate, operating costs, and operator performance. mogul currently cites roughly 8-10% NOI yield, 10-12% levered yield, and approximately 13-18% total annual levered returns.
Mid-term rentals (MTR): Properties configured for stays longer than 30 days and shorter than one year, addressing workforce housing demand, with occupancy that mogul's materials place around 94%. mogul cites roughly 10-12% NOI yield, 12-14% levered yield, and approximately 17-22% total annual levered returns for this strategy.
Long-term rentals (LTR): Traditional residential leases with stable tenant relationships and more predictable cash flow.
All of the above are underwriting targets rather than realized guarantees.
Investment Process and Operational Model
Properties on mogul are held for 3-10 years, with roughly 5-7 years identified as typical in newer materials. During this period, investors can expect:
Monthly rental income distributions proportional to ownership stake, once a property is operational and generating distributable net rental income after operating expenses, debt service, fees, capital expenditures, and reserves
Pass-through tax reporting, including property-level depreciation allocations on Schedule K-1s. The availability and current usability of any deduction depend on the offering and each investor's tax circumstances, including basis, at-risk rules, applicable IRS limitations, and state rules
Governance rights generally weighted by ownership percentage, with exact voting mechanics governed by the applicable operating agreements
Economic participation in eventual property sales
Investment execution happens in 30 seconds or less through mogul's streamlined platform. Monthly property valuations using third-party appraisal-level data support transparent fair market value calculations.
mogul is developing a secondary market on Avalanche blockchain infrastructure, designed to allow trading of eligible shares using monthly fair-market-value data.
Arrived: Empowering Everyday Investors in Rental Homes
Arrived was founded in 2019, spent 2020 on regulatory compliance and platform development, and launched its first six property offerings in March 2021. The platform focuses on accessibility, with a $100 minimum investment enabling broad participation.
Arrived's key characteristics:
Roughly 993,000 registered investors with approximately $459 million total invested
589+ funded properties across 67+ active markets providing geographic diversification
Both individual properties and fund options, including its SFR Fund, Real Estate Income Fund, and City Fund
Mobile app with a 4.8/5 iOS rating from roughly 1.2K ratings
Secondary Market launched in 2025 and moved to a monthly trading cadence in Q1 2026, currently offering a one-week trading window each month for eligible properties that have been fully funded and held at least six months
Monthly distributions: Arrived's current help material states that it pays out investors monthly, with actual amounts investment-dependent and not guaranteed
Vacation rentals: Arrived continues to operate its existing vacation-rental portfolio, has paused new vacation-rental acquisitions, and has expanded in-house management of those homes
Arrived's individual single-family properties averaged a 3.6% annualized dividend rate in Q1 2026 and 3.5% in Q2 2026. Arrived reports selecting roughly 0.2% of the properties it evaluates. Anticipated hold periods range from 5-7 years for long-term rentals and 5-15 years for vacation properties.
Arrived's model centers on a low entry point and diversification across its residential offerings. Its fee structure is offering-specific: recent SFR disclosures provide for sourcing fees of up to 3.50% of a property's purchase price, individual SFR properties carry an AUM fee of 0.15% of the asset purchase price per quarter, property-management expense is 8% of gross rental income for SFR homes and generally 15-20% for vacation rentals, disposition fees of 6-7% apply at sale, and secondary-market trades may incur executing-broker fees of up to 2.5% on each side of a transaction.
Crowd Street: Private Markets for Accredited Investors
Crowd Street operates in a fundamentally different segment: private-markets investing for accredited individuals and entities. Founded in 2013, the platform launched its first offering in 2014 and reports nearly $4.5 billion of equity deployed across roughly 800 transactions.
Crowd Street's defining characteristics:
Accredited investor requirement: the platform is limited to accredited investors, including qualifying entities. Accredited status can be established through applicable SEC financial criteria, entity qualification, or certain specialized professional credentials
Minimums generally starting at $25,000, which may be higher for certain offerings
Broad private-markets menu: private equity, private credit, real estate funds, direct-deal CRE, and venture capital, with its October 2025 expansion adding secondaries and real assets. Its commercial real estate universe includes multifamily, office, industrial, retail, self-storage, and hospitality
Curated sponsor network: third-party sponsors lead applicable offerings, and Crowd Street conducts screening and diligence on sponsors and investment opportunities before listing them, with selected opportunities approved for the platform
More than a decade of operating history since its 2013 founding
Crowd Street's published realized track record, dated January 24, 2025, reports an aggregate IRR of 11.2% for the included Marketplace exits, a 1.33x equity multiple, and a 3.5-year realized hold period. Individual deal outcomes vary by sponsor and offering.
Legacy direct CRE deals generally targeted 3-5 year holds, with some deals targeting as long as 10 years, while current holding periods vary by offering. Private placements of this type are generally longer-term commitments. The accredited-investor requirement and minimums starting at $25,000 reflect a different investor segment from retail-oriented platforms.
Comparative Analysis: Investment Accessibility
mogul accepts investments of up to $250,000 and reports an average investment of approximately $10,000 alongside a typical portfolio allocation of roughly $17,321 per property, which supports diversified portfolio building across multiple homes. The platform accepts both accredited and non-accredited investors, subject to onboarding, KYC, and eligibility requirements, democratizing access to institutional-quality residential real estate.
Arrived's entry point is $100, the lowest of the three, an option some first-time real estate investors use to explore the asset class with minimal capital. Its current individual-property and fund offerings are open to non-accredited investors, subject to residency and citizenship eligibility.
Crowd Street's minimums and accreditation requirements serve a narrower, accredited investor universe, representing a fundamentally different market segment.
Performance and Returns: mogul vs. Arrived vs. Crowd Street
Before comparing numbers, one methodological point matters: IRR and dividend yield are not equivalent measures. A dividend yield captures income only, while an IRR reflects cash-flow timing and terminal value. Arrived itself describes single-family total return as income plus appreciation. The figures below should therefore be read as different metrics rather than as a like-for-like ranking.
mogul's return profile:
18.8% average annual IRR reported across platform properties, against the S\&P 500's 9%
15-20% target annual IRR as an underwriting projection
Monthly distributions from actual rental revenue once a property is operational and generating distributable income
No recurring AUM-based annual management fee on principal, alongside a one-time capitalized fee of up to 5% and an ongoing 2.5% fee on collected rental income
Arrived's return profile:
A 3.6% annualized dividend rate in Q1 2026 and 3.5% in Q2 2026 on individual SFR properties, an income-only metric
A 6-10% estimated historical annual total-return range for SFR investments, which Arrived presents as historical rather than as a target or guarantee
A 2026 third-party review reports 173 exited properties averaging 18.6% total return over their holding periods rather than on an annual basis
Offering-specific fees that can include sourcing, quarterly AUM, property management, disposition, and secondary-market broker components
Crowd Street's return profile:
11.2% aggregate IRR on the realized Marketplace exits included in its January 2025 published track record
Outcomes that vary by sponsor and offering
Offering-specific fee structures, with platform, sponsor, fund, and other expenses varying by deal and set out in the applicable offering documents
mogul's combination of higher target returns and the absence of a recurring AUM-based annual management fee creates a meaningful compounding advantage on invested principal. To size that effect: compared solely with a hypothetical 1% annual AUM fee on a constant $10,000 balance, avoiding that charge represents roughly $500 over five years before compounding. Actual total fee differences depend on each platform's full fee structure, including mogul's one-time capitalized fee and ongoing 2.5% rental-income fee, so this figure should be read as an illustration rather than a measurement.
Property Selection and Due Diligence Across Platforms
The rigor of property selection directly impacts investor outcomes.
mogul's selection methodology:
Less than 1% of reviewed properties pass due diligence
Institutional-style analysis led by former Goldman Sachs real estate professionals
12% minimum projected IRR hurdle, described as a bear-case screening threshold inclusive of stated one-time fees
Proprietary underwriting combining AVMs and CMAs with inspections, scenario analysis, and investment-committee review
mogul co-invests in every property
Arrived's selection process:
Arrived reports selecting roughly 0.2% of the properties it evaluates
Focus on residential markets Arrived identifies as having durable rental demand
External property-management partners for portions of the portfolio, with vacation rentals increasingly managed in-house
Crowd Street's approach:
Curated sponsor network with screening of both sponsors and investment opportunities
Outcomes that vary by sponsor and offering, as its published realized track record shows
Selected opportunities are approved for listing
mogul's alignment of interests, co-investing alongside platform investors, means management incentives sit in the same positions as investor capital. When mogul's own money is in every property, the team has direct motivation to select only the highest-quality opportunities.
mogul's Innovative Tools and Investor Support
mogul provides free analytical tools that it describes as using the same data and tools used by top real estate firms:
Investment Property Calculator: Analyze any U.S. address for rental potential with projections across base, bear, and bull scenarios
Rental Property Calculator: Estimate rental income, ROI, and cash-on-cash yields
Airbnb Calculator: Specialized short-term rental analysis drawing on data from millions of listings
Real Estate Calculator: Comprehensive analysis covering levered and unlevered returns
These tools enable investors to evaluate potential investments before committing capital, or to analyze any property nationwide for educational purposes. mogul also offers free professional underwriting by its team for submitted properties with no purchase obligation.
The platform's technology stack includes Google and LinkedIn sign-on and investment execution in 30 seconds or less. On the blockchain side, mogul records investor ownership information on Avalanche, with on-chain records independently inspectable through Snowtrace, and uses Fireblocks for wallet, custody, and security infrastructure. Property valuations, rental distributions, and return projections are presented separately through mogul's dashboard, with fair market values updated monthly using third-party appraisal-level data. Additional guidance for members sits in mogul's help center.
Why mogul Delivers Superior Value for Real Estate Investors
Investors comparing fractional real estate platforms face a clear choice between accessibility, returns, and transparency. mogul performs strongly across all three dimensions.
Institutional expertise democratized: Former Goldman Sachs executives apply an institutional-style underwriting process informed by their prior institutional investing experience, now accessible to everyday investors. The less than 1% property acceptance rate means only carefully vetted single-family rentals reach the platform.
Strong return targets: mogul's 18.8% average annual IRR and 15-20% target return range position investors for meaningful wealth building through real estate, and mogul's materials present that 18.8% figure as the highest average IRR among comparable fractional platform assets. These are total-return measures and should be compared against other platforms' total-return metrics rather than against income-only dividend yields.
Investor-friendly fee structure: With no recurring AUM-based annual management fee on principal, mogul preserves more invested capital for compounding. Its remaining charges, a one-time capitalized fee of up to 5% and an ongoing 2.5% fee on collected rental income, are disclosed up front rather than layered across sourcing, AUM, management, and disposition events.
Distinctive risk protection: The first $10k protection for new members is a downside-protection commitment rarely seen among fractional real estate platforms. mogul covers up to $10k in losses, which allows investors to build familiarity with the platform while knowing their early downside is covered.
Blockchain transparency: Avalanche integration provides ownership records that can be independently inspected through Snowtrace, supplementing conventional LLC, operating-agreement, and property-title records. This infrastructure also underpins mogul's in-development secondary market.
Monthly income cadence: Once a property is operational and generating distributable net rental income, mogul makes proportional distributions on a monthly schedule, enabling better cash flow management and faster reinvestment than quarterly or variable schedules. Payment amounts depend on property performance and available distributable cash. Monthly dividends, real-time appreciation, and tax benefits arrive through a single, digital-first experience.
Aligned interests: mogul co-invests in every property alongside platform investors. When management capital sits in the same positions as investor capital, incentives align toward maximizing returns.
Community rewards: Community features such as mogul Clubs distribute up to 2% in rewards to members, and the Give $50, Get $50 benefit pays $50 when a referred friend invests, subject to the referral program terms.
Accessible entry with institutional quality: With an average investment of roughly $10,000, mogul supports diversified portfolio building without requiring accreditation or $25,000+ commitments. Build a real estate portfolio one property at a time with full visibility into each investment's performance.
For investors seeking headache-free fractional real estate with monthly income potential, institutional-style property selection, and property-specific exposure to single-family rentals, mogul represents a compelling approach to building generational wealth through real estate.
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, Arrived, and Crowd Street?
mogul specializes in fractional ownership of single-family residential rentals through property-specific LLC membership interests, underwritten by former Goldman Sachs executives using an institutional-style process. Arrived offers individual residential rentals plus SFR, City, and Real Estate Income funds at a $100 minimum, and has paused new vacation-rental acquisitions. Crowd Street serves accredited investors across private equity, private credit, real estate funds, direct-deal CRE, and venture capital with minimums generally starting at $25,000. mogul combines institutional-style expertise, a 15-20% target IRR, and access for non-accredited investors.
Which platform is best for non-accredited investors seeking real estate income?
Crowd Street is available to accredited investors, so non-accredited investors would be looking at the two remaining platforms. mogul targets a 15-20% total-return IRR and charges no recurring AUM-based annual management fee on principal, while Arrived cites a 6-10% estimated historical total-return range for SFR investments alongside offering-specific sourcing, AUM, management, and disposition fees. Note that Arrived's separately reported quarterly dividend rates of 3.6% and 3.5% measure income only and are not comparable to an IRR. mogul's $10,000 loss protection for new members adds downside coverage as investors build familiarity with fractional real estate. Explore mogul's current investment properties to see available opportunities.
How do the fees compare across mogul, Arrived, and Crowd Street?
mogul charges a one-time capitalized platform fee of up to 5%, described in its detailed 2026 disclosures as a 3% platform and onboarding component plus a potential 2% property-setup component where applicable, along with an ongoing 2.5% fee on collected rental income. It does not charge a recurring AUM-based annual management fee on principal, and the full schedule is outlined in how it works. Arrived's fees are offering-specific and include sourcing fees of up to 3.50% of purchase price in recent SFR disclosures, an AUM fee of 0.15% of the asset purchase price per quarter for individual SFR properties, 8% property-management expense on SFR gross rental income and 15-20% for vacation rentals, 6-7% disposition fees at sale, and up to 2.5% executing-broker fees on each side of a secondary-market trade. Crowd Street's fees are also offering-specific, with platform, sponsor, fund, and other expenses varying by deal and set out in the applicable offering documents.
What types of properties can I invest in with each platform?
mogul offers short-term rentals (Airbnb-style), mid-term rentals (stays of more than 30 days), and long-term residential rentals, all single-family residential properties. Arrived provides individual single-family rentals and fund products, plus an existing vacation-rental portfolio that is no longer taking on new acquisitions. Crowd Street spans private equity, private credit, real estate funds, direct-deal commercial real estate, and venture capital, with its CRE universe including multifamily, office, industrial, retail, self-storage, and hospitality. For investors familiar with residential real estate from their own housing experience, mogul and Arrived provide more intuitive asset types.
Do these platforms offer liquidity options for investments?
Real estate investments are inherently less liquid than public markets, and each platform addresses this differently. mogul provides monthly property valuations using third-party appraisal data and is building a secondary market on its Avalanche infrastructure for eligible shares. Arrived launched its Secondary Market in 2025 and moved to a monthly cadence in Q1 2026, with a one-week trading window each month for eligible shares held at least six months. Crowd Street positions are generally longer-term, with legacy direct CRE deals typically targeting 3-5 year holds and some targeting up to 10 years. mogul's monthly distribution cadence provides ongoing income rather than requiring an exit to realize returns. Learn more about how it works.
How does property management work with fractional investment platforms?
With mogul, property management responsibilities are handled at the platform level, with licensed third-party property managers performing day-to-day operations, so investors do not personally handle tenants, maintenance, or daily operations. Investors receive monthly income distributions once properties are operational and generating distributable income. Arrived uses external property-management partners for portions of its portfolio while increasingly managing vacation rentals in-house, with 8% of gross rental income for SFR homes and generally 15-20% for vacation rentals. Crowd Street's real estate offerings are managed by deal sponsors under arrangements that vary by offering. mogul's turnkey approach delivers a seamless, headache-free ownership experience.