Choosing the right fractional real estate platform determines how effectively you can build wealth through property ownership. mogul, Arrived, and Fractional represent three distinct approaches to making real estate investing more accessible, each with unique fee structures, investment models, and target audiences. mogul delivers fractional ownership of single-family rentals through property-specific LLC structures, blockchain-backed technology, and institutional-grade underwriting from former Goldman Sachs executives. Arrived focuses on low-barrier entry with a $100 minimum and SEC-qualified offerings. Fractional operates as an investment club platform where groups pool capital with active governance. Understanding these fundamental differences helps investors select the approach that aligns with their capital, involvement preferences, 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-grade underwriting, with less than 1% of reviewed properties passing their selection process. The average member investment is roughly $10k, with a typical portfolio allocation of $17,321 per property
mogul distributes each investor's proportionate share of net rental income monthly once a property is operational and generating distributable cash flow. Arrived currently pays or expects to pay monthly dividends on income-producing individual properties and its principal funds, and Fractional's schedule varies by club structure
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 records property-LLC ownership interests in an independently verifiable form, while the investor dashboard reports operating performance and monthly appraisal-level valuations
mogul charges no traditional recurring AUM-based management fee on invested equity. Its disclosed structure is a capitalized upfront fee summarized as 5%, consisting of a 3% platform and onboarding fee plus a possible 2% setup fee where rent-ready preparation is required, together with an ongoing 2.5% fee on rental income
Arrived has a $100 minimum investment across its current offerings, an established secondary market, and 993K registered investors with $459M invested
Fractional serves investors seeking active governance through an investment club model that expects club leaders to bring their own network, with capital commitments determined by each individual club
When investors evaluate fractional real estate platforms, the choice between mogul, Arrived, and Fractional represents three distinct philosophies toward property investment. This comparison reveals why mogul's combination of institutional expertise, transparent fee mechanics, and monthly cash flow delivers compelling value for investors seeking property-level ownership exposure in income-producing residential real estate.
Understanding Each Platform's Core Positioning
mogul is a fractional real estate platform club founded by former Goldman Sachs executives and built by real estate investors for real estate investors. With more than $10 billion of deal experience behind its underwriting, mogul's mission is to make the world's largest wealth generator, real estate, accessible to investors. The platform focuses primarily on single-family rentals, operating across mid-term and short-term rental strategies, alongside long-term rentals and residential sale-leasebacks. mogul offers fractional ownership through property-specific LLC structures: investors acquire a membership interest in an investment-club LLC associated with the entity that owns an identified home, which delivers property-level economic and governance exposure rather than individually deeded fractional title.
Arrived operates as a real estate investment platform focused on accessibility, with a $100 minimum investment across its current offerings. The platform reports 993K registered investors, $459M total invested, and $106M distributed to investors. Arrived conducts SEC Regulation A Tier 2 qualified offerings across single-family rentals, vacation properties, and funds, with an established secondary market featuring a one-week trading window each month after a six-month hold period.
Fractional takes a fundamentally different approach as an investment club platform. Rather than curating properties for individual investors, Fractional enables groups to pool capital, vote on deal fundamentals, and share governance responsibilities. This model supports flexible asset classes beyond real estate, including private lending, businesses, and other investments, and it relies on active participation and an existing network of co-investors. Investment commitments are determined by the individual club rather than by a published platform-wide range.
The fundamental difference: mogul provides curated, institutional-quality properties with headache-free ownership, while Arrived prioritizes accessibility, and Fractional enables collaborative group investing.
Investment Options Reflect Different Strategic Approaches
mogul's investment offerings focus on:
Short-term rentals (Airbnb-style stays of fewer than 30 days at high-end homes, a higher-yielding model than traditional long-term rentals)
Mid-term rentals (stays longer than 30 days and shorter than one year that answer workforce housing demand, with rooms leased on 12-week-plus terms while operating at 94% occupancy), where mogul's underwriting targets roughly 12% to 14% levered yield versus roughly 10% to 12% for short-term rentals
Long-term residential rentals with stable tenant relationships
Residential sale-leaseback offerings
Potential pass-through tax items, including depreciation reported on Schedule K-1, subject to the specific offering and each investor's tax circumstances
Property-specific LLC membership interests tied to individual properties
Arrived's investment portfolio includes:
Single-family rental homes
Vacation rental properties
Real estate investment funds, including the Single Family Residential Fund, City Funds, and the Real Estate Income Fund
SEC Regulation A Tier 2 qualified offerings
Self-directed IRA compatibility on a product-specific basis
Fractional's investment structure features:
Investment club model with member-voted deals
Flexibility across asset classes, where real estate and private lending are common but clubs have also pooled capital for businesses and other assets
Active governance with voting rights, where every member is an active participant
Back-office automation for LLC formation, compliance, bookkeeping, distributions, tax filings, and K-1 preparation
Club-determined property selection and due diligence criteria
mogul's model enables investors to select specific properties rather than investing in pooled funds or relying on club consensus, providing transparency into exactly where capital is deployed while professional teams handle day-to-day management. Try mogul's free real estate calculator to analyze any U.S. property.
Pricing Structures Show Distinct Value Propositions
The pricing models reveal each platform's approach to investor costs, and just as importantly, the base each fee is calculated against.
mogul's pricing structure:
Average member investment of roughly $10k, with a typical portfolio allocation of $17,321 per property
Capitalized upfront fee summarized as 5%, calculated on the property's purchase price, consisting of a 3% platform and onboarding fee plus a possible 2% setup fee where rent-ready preparation is required
Ongoing 2.5% fee on rental income
No traditional recurring AUM-based management fee charged against invested equity
Property management handled within the platform's operating structure, including wholesale management pricing obtained through economies of scale
Arrived's pricing structure:
Minimum investment: $100
One-time sourcing fee on certain individual-property offerings, with the amount and calculation basis varying by offering rather than applied as a universal platform-wide percentage
AUM fee of 0.1% to 0.30% per quarter depending on product: individual single-family rentals at 0.15% of asset purchase price per quarter (roughly 0.60% annually), the SFR Fund at 0.25% of net assets per quarter (roughly 1.00% annually), the Real Estate Income Fund at 0.30% of net assets per quarter (roughly 1.20% annually), and vacation rentals variable, historically averaging 0.1% of initial investment per quarter
Property management expenses of 8% of gross rental income for single-family residential properties and generally 15% to 20% for vacation rentals
Fractional's pricing structure:
Club-determined investment commitments, with no published universal platform minimum range
3% transaction fee per investor per raise, capped at $7,500 per investor
$4,500 annual service fee per club for every tax year, paid by the club leader
$4,500 setup deposit per club, credited against the first tax year's service fee
How the fees actually work (rate, base, and payer):
PlatformUpfront chargeOngoing chargesCalculation basePaid bymogulCapitalized fee summarized as 5% (3% platform and onboarding plus a possible 2% setup fee where rent-ready prep is required)2.5% of rental income; no traditional recurring AUM fee on invested equityThe property's purchase price for the upfront fee; rental income for the ongoing feeInvestor, capitalized into the dealArrivedOffering-specific one-time sourcing fee, where applicableAUM fee of 0.1% to 0.30% per quarter by product; property management of 8% of gross rents (SFR) or generally 15% to 20% (vacation rentals)Asset purchase price or net assets for the AUM fee; gross rental income for property managementInvestor and property-level operating economicsFractional3% transaction fee per investor per raise (capped at $7,500 per investor); $4,500 setup deposit per club$4,500 annual service fee per club per tax yearPer investor per raise; per club per tax yearInvestor pays the transaction fee; the club leader pays the annual service fee
A single five-year dollar total is not meaningful for any of these platforms, because total dollar fees depend on rental income, occupancy, rent growth, fee bases, capitalized expenses, transaction assumptions, and cash-flow timing. Property-management percentages are charged against gross rental income rather than invested principal, AUM rates and calculation bases differ by product, and club-level annual fees are paid by the club leader rather than allocated automatically per investor.
What can be compared is fee mechanics, and that is where mogul's structure is clearly differentiated. mogul's largest charge is capitalized into the deal at the outset, and its ongoing fee is tied to rental income actually collected, so it scales with performance rather than compounding against invested equity year after year. As an illustration, a hypothetical $10,000 allocation held for five years works out to $500 of upfront fees plus an estimated $150 rental-income fee, with the exact result depending on the assumptions used.
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 risk-adjusted returns outside volatile public markets
Tech-forward investors valuing blockchain-verifiable ownership records
Those seeking monthly income from real estate
Arrived primarily serves:
Investors with smaller initial capital, given the $100 minimum
Those prioritizing potential exit routes through secondary market access
Investors seeking SEC-qualified offerings
Retirement account holders seeking IRA-compatible investments on a product-specific basis
Fractional appeals to:
Groups with existing networks wanting to invest together
Investors seeking active involvement and voting rights
Those interested in multiple asset classes beyond real estate
Experienced investors comfortable with club-level commitments and club-level annual fees
This distinction matters fundamentally. Investors seeking institutional-grade property selection with professional management benefit from mogul's curated approach. The platform enables portfolio building one property at a time, with full visibility into each investment property's performance.
Performance and Return Profiles
Both mogul and Arrived publish performance information, while Fractional does not publish a platform-wide return profile.
mogul's performance data:
18.8% average annual return (IRR) across platform properties
The highest average IRR of platform assets among fractional real estate platforms
Target annual returns of 15% to 20% IRR, presented as an underwriting target, with actual results varying by property
Monthly distributions of net rental income once a property is operational and generating distributable cash flow
$10,000 loss protection for new member investments in the first 7 days
90% of mogul investors invest a second time, and when they do it is 3x their first investment
Arrived's performance data:
An estimated historical return range of 6% to 10% annually for diversified single-family rental strategies
Q2 2026 annualized dividend rates by product: 3.5% for individual properties, 4.9% for the SFR Fund, 8.7% for the Real Estate Income Fund, and 2.9% for vacation rentals (the Q1 2026 report showed 3.6%, 4.2%, and 1.53% respectively for individual properties, the SFR Fund, and vacation rentals)
Anticipated holding periods of 5 to 7 years for long-term rentals and 5 to 15 years for vacation rentals, with other products carrying product-specific liquidity and investment horizons
Fractional's performance data:
No platform-wide return data published
Returns vary by club, investment strategy, asset performance, financing, market conditions, and execution
Assets and strategies differ materially from club to club
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 its own balance sheet capital.
mogul's focus on single-family rentals positions investors in an asset class with strong risk-adjusted returns. Drawing on NAREIT, U.S. Federal Reserve, Case-Shiller Home Index, and Bloomberg data, single-family rentals delivered a 13.8% IRR from 1993 to 2023 versus 9.8% for the S\&P 500, with a standard deviation of 2.3% versus 4.2%. Over a 30-year hold, that translates to roughly 190% higher average returns with 45% less volatility. Measured against annual returns for other asset classes over the 1993 to 2025 period, mogul's investment properties average 18.8% annually, compared with 13.8% for single-family rentals broadly, 9.8% for the S\&P 500, 9.3% for REITs, 5.7% for gold, and 5.2% for corporate bonds, and those figures do not factor in the tax benefits of the underlying asset class.
Technology and Transparency Approaches
mogul's technology infrastructure:
Avalanche blockchain integration for property-LLC ownership records, independently verifiable via Snowtrace
Fireblocks enterprise wallet infrastructure for security
Investor dashboard reporting rental and property-performance information
Investment execution in under 30 seconds
Monthly property valuations calculated using third-party appraisal-level data
Blockchain-based back-office efficiency that reduces operational costs and lowers fees, maximizing returns
Arrived's technology:
Web-based investor portal
iOS app rated 4.8 from roughly 1.2K ratings
Quarterly performance reporting
Secondary market with a one-week trading window each month after a six-month hold
Eligible secondary orders routed through registered broker-dealer infrastructure to the PPEX ATS, which is owned and operated by North Capital Private Securities Corporation
Fractional's technology:
Web-based club governance tools for voting and communication
Back-office automation for LLC formation and compliance
Partnership with Stripe Payments Company for money-transmission and account services, with funds held at Fifth Third Bank
mogul's blockchain backbone provides permanent, independently verifiable ownership records that exist independently of the platform itself. That infrastructure also supports mogul's planned secondary market, currently listed as coming soon, which addresses the liquidity constraints inherent in direct property ownership.
Property Selection and Due Diligence
mogul's selection methodology:
Less than 1% of reviewed properties pass mogul's diligence process
Proprietary underwriting models combining AVMs and CMAs
Goldman Sachs-level institutional analysis and a defined investment-committee process
mogul co-invests in every property offered on the platform
Research analysts and institutional partners identify maximum upside potential
Programmatic relationships that source off-market and pre-market homes at 8% to 10% below market value with verified operating actuals
Boots-on-the-ground property management teams in each market, supported by in-house brokerage for pipeline
Arrived's vetting process:
A mix of experienced third-party property managers and in-house management, with 16 vacation rentals moved to its in-house Arrived Property Management team in Q2 2026
Focus on single-family, vacation rental, and fund products
Market analysis, financial projections, and valuation methodologies described in current filings
SEC Regulation A qualified offering process
Fractional's selection approach:
Member-voted deals based on club criteria
Flexible due diligence determined by each club
Active governance with collective decision-making
Custom investment criteria defined by members
The alignment of interests matters: mogul's own capital sits alongside investor capital in every property, so management incentives track investor returns. This co-investment model keeps mogul's outcomes tied directly to the outcomes its investors experience.
mogul's free investment property calculator and rental property calculator enable investors to analyze any U.S. address using the same data and tools employed by top real estate firms.
Distribution Frequency and Cash Flow
For investors prioritizing regular income, distribution mechanics and timing significantly impact cash flow management.
mogul distributions:
Monthly distributions of each investor's proportionate share of net rental income, paid once the property is operational and has distributable cash flow
Net amounts calculated after applicable property expenses, fees, reserves, and other obligations
Potential yearly pass-through tax benefits, including depreciation allocations reported on Schedule K-1, subject to the offering and the investor's tax circumstances
Proceeds from eventual property sales after 3 to 10 year holds
Arrived distributions:
Monthly dividends currently paid or expected on income-producing individual properties, the Single Family Residential Fund, and the Real Estate Income Fund, subject to property and fund performance and distribution policies
First-dividend timing that varies by offering: fund investments may take up to 90 days, single-family properties have historically averaged 45 days to lease with a range from 7 days to over 90 days, and vacation rentals typically take 3 to 6 months to begin generating income
Free-cash-flow distributions contemplated on a monthly or other periodic basis in current filings
Fractional distributions:
Varies by club structure
Determined by member agreements
Timeline depends on asset acquisition and cash flow
mogul's monthly distribution model creates more frequent opportunities to reinvest, and any resulting compounding benefit reflects distribution size, reinvestment timing, and the performance of the properties into which distributions are redeployed.
Backing and Market Credibility
mogul's credentials:
Founded by former Goldman Sachs real estate executives Alex Blackwood and Joey Gumataotao
More than $10 billion of deal experience, including Joey Gumataotao growing Goldman Sachs' single-family rental platform from $0 to $1 billion in under 12 months
More than $90 million of assets invested through the platform
90% of investors invest a second time, and when they do it is 3x their first investment
$3.6 million seed round led by Anitha Vadavatha of AY Ventures, with participation from Draper Associates and other investors; Draper had also participated earlier at the pre-seed stage
Backed by Draper Associates, Draper B1, Draper Dragon, InterVest, Ava Labs, and the Blizzard Avalanche Ecosystem Fund, including angel investors from J.P. Morgan, Goldman Sachs, and Carlyle
Investors include Chris Larsen (Ripple co-founder) and Rosa Rios (43rd U.S. Treasurer)
Featured in Forbes, TechCrunch, Wired, Axios, Fortune, Bloomberg, and Yahoo! Finance
Arrived's credentials:
993K registered investors
$459M total invested on platform and $106M distributed to investors
SEC Regulation A Tier 2 qualified
Bezos Expeditions participated in Arrived's Series B financing
Fractional's credentials:
Approximately $20.5M in total reported funding, which includes a $15M financing round
Back-office automation platform
Serves investment clubs across asset classes
Tim Draper has expressed that mogul's founding team's experience and ambition drove Draper Associates' investment. Rosa Rios has likewise praised the pedigree of founders Alex Blackwood and Joey Gumataotao, describing them as the team best suited to design and execute the mogul strategy. Chris Larsen has pointed to mogul as being at the forefront of making real estate more accessible as an asset class.
Why mogul Delivers Superior Value for Real Estate Investors
Investors seeking accessible entry into real estate with institutional-quality execution face a clear choice among these three platforms.
Key advantages of mogul's approach:
Property-specific LLC ownership: Acquire membership interests in an LLC tied to an identified home rather than units in a pooled fund or a club vehicle. Know exactly which properties your capital supports, with property-level economic and governance exposure and full visibility into performance metrics.
Monthly income: Receive monthly dividends representing your proportionate share of net rental income once a property is operational, enabling better cash flow management and more frequent reinvestment opportunities.
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.
Risk management at the asset level: Future maintenance, vacancies, insurance payments, and closing costs are capitalized, with 12 months of operating reserves per asset, property and business interruption insurance, and financing at 65% to 75% LTV using interest-only loans.
Fee structure tied to performance, not to your equity balance: mogul charges no traditional recurring AUM-based management fee on invested equity. The largest charge is capitalized upfront, and the ongoing 2.5% fee applies to rental income, so it only accrues when the property is actually producing.
Institutional expertise: Former Goldman Sachs executives apply the same rigorous underwriting used for billion-dollar institutional deals, with less than 1% of reviewed properties passing muster.
Blockchain transparency: Avalanche network integration provides independently verifiable ownership records and supports mogul's planned secondary market, currently listed as coming soon.
Aligned interests: mogul co-invests in every property alongside platform investors, so management is exposed to the same outcomes.
Headache-free investing: Professional property management handles tenant coordination and day-to-day operations, with larger strategic decisions potentially subject to owner governance. No 3am phone calls or club meetings required.
Community rewards: mogul Clubs distribute up to 2% in rewards to members, and members who refer a friend receive $50 once that friend invests.
For investors seeking fractional real estate with monthly income potential, institutional-grade property selection, and property-level ownership exposure in single-family rentals, mogul represents the superior approach to building a real estate portfolio. The combination of accessibility, transparency, and Goldman Sachs-level expertise creates a compelling value proposition for investors who want to build portfolios like the wealthiest investors in the world for a fraction of the time and cost.
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 minimum investment required to get started with mogul, Arrived, or Fractional?
Arrived's minimum is $100 across its current offerings. Fractional operates through investment clubs whose commitments are set by each club rather than by a published platform-wide range. mogul is built around meaningful, property-level allocations: the average member investment is roughly $10k, with a typical portfolio allocation of $17,321 per property, and members can build exposure one property at a time. For investors prioritizing institutional-grade property selection and professional management, mogul's approach balances accessibility with quality: the platform's properties are vetted through a process where less than 1% of reviewed deals pass muster.
How do these platforms generate income for investors?
Return sources depend on the specific investment rather than being uniform across all three platforms. mogul's single-family rental offerings generate net rental income distributed monthly once a property is operational, plus proceeds from eventual property sales after 3 to 10 year holds. Arrived's equity real estate offerings can produce rental income and appreciation, while its Real Estate Income Fund earns income from real-estate-backed credit rather than appreciation; Arrived currently pays or expects to pay monthly dividends on income-producing individual properties and its principal funds. Fractional club returns depend on the assets and strategies members select, which may not involve rental income or real estate appreciation at all. For investors prioritizing regular, property-level cash flow from residential rentals, mogul's monthly model offers frequent reinvestment opportunities.
What are the fees associated with investing through mogul, Arrived, and Fractional?
mogul charges a capitalized upfront fee summarized as 5%, consisting of a 3% platform and onboarding fee plus a possible 2% setup fee where rent-ready preparation is required, along with an ongoing 2.5% fee on rental income; it does not charge a traditional recurring AUM-based management fee on invested equity. Arrived charges an offering-specific one-time sourcing fee where applicable, an AUM fee of 0.1% to 0.30% per quarter depending on product, and property management of 8% of gross rental income for SFR properties or generally 15% to 20% for vacation rentals. Fractional charges a 3% transaction fee per investor per raise capped at $7,500, a $4,500 setup deposit, and a $4,500 annual service fee per club paid by the club leader. Because each fee uses a different calculation base and a different payer, no single multi-year dollar total is defensible for any of these platforms. Learn more about how mogul works.
How does a secondary market benefit fractional real estate investors?
Secondary markets provide potential liquidity routes typically unavailable in direct real estate ownership. Arrived offers a secondary market with a one-week trading window each month after a six-month hold period, with eligible orders routed through registered broker-dealer infrastructure to the PPEX ATS operated by North Capital Private Securities Corporation. mogul has announced a secondary market that it currently lists as coming soon, supported by monthly fair market valuations using third-party appraisal-level data and the platform's Avalanche blockchain infrastructure. Fractional's liquidity depends on individual club structure and member agreements.
What types of properties can I invest in through these platforms?
mogul focuses primarily on single-family residential real estate, including short-term rentals (Airbnb-style stays under 30 days), mid-term rentals (stays longer than 30 days that answer workforce housing demand), long-term rentals, and residential sale-leasebacks. Arrived offers single-family rental homes, vacation rental properties, and funds including the SFR Fund, City Funds, and the Real Estate Income Fund. Fractional supports flexible asset classes beyond real estate, including private lending, businesses, and other investments determined by each club. For investors seeking curated residential properties with institutional-grade underwriting, mogul's specialized focus delivers Goldman Sachs-level analysis on every deal.
Are fractional real estate investments suitable for beginners?
Fractional real estate can be an excellent entry point for first-time real estate investors. mogul specifically supports newer investors with professionally vetted and managed properties, monthly net rental income distributions once a property is operational, and unique risk mitigation covering 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 platform's free investment property calculator helps new investors analyze properties using the same tools employed by top real estate firms, building confidence before committing capital.