Choosing the right fractional real estate platform requires understanding the fundamental differences between available options. mogul, Arrived, and Landa represent three distinct approaches to fractional property ownership. mogul is a fractional real estate platform club founded by former Goldman Sachs executives, delivering property-specific fractional ownership in single-family rentals through blockchain-backed technology and institutional-grade underwriting. Arrived offers access to residential properties through a larger-scale platform with an established operating history. Landa, which launched with a very low investment minimum, has been affected by platform-access disruptions that began in April 2025. This comparison explains why mogul's combination of institutional expertise, investor protection, and fee-efficient structure positions it as a compelling choice for fractional real estate investors.
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 includes former Goldman Sachs executives applying institutional-grade underwriting, with less than 1% of reviewed properties passing the selection process; mogul reports an average investment of approximately $10,000 and a typical portfolio allocation of $17,321 per property
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 risk-mitigation feature not identified at either comparison platform in this review
mogul charges no traditional recurring annual AUM or asset-management fee on invested principal, instead applying an ongoing 2.5% fee on rental income; the absence of a principal-based annual fee can reduce recurring fee drag over long holding periods, with the exact difference depending on the property, rental income, fee bases, and holding period
mogul reports 18.8% average annual returns (IRR) across platform properties, against 9.8% for the S\&P 500 in mogul's asset-class comparison; Arrived's most recent comparable published figure is a 3.5% average annualized dividend yield for individual single-family rental properties in Q2 2026, which measures cash distributions rather than total return and is not directly equivalent to an IRR
Landa's investor-facing platform has experienced access disruptions since April 2025, and the company has indicated that it has no definite restoration timetable
mogul's blockchain integration on the Avalanche network provides permanent, verifiable ownership records and supports a planned secondary market for share trading
mogul rewards member referrals through its Give $50, Get $50 offer: refer a friend and get $50 when they invest, subject to the referral program terms
Understanding Each Platform's Core Positioning
Each platform brings a different philosophy to fractional real estate, with varying levels of institutional backing, operational stability, and investor protection.
mogul specializes in residential real estate with a focus on short-term and mid-term rental strategies across all single-family rental verticals. mogul's mission is to make the world's largest wealth generator, real estate, accessible to investors. Founded by former Goldman Sachs executives with $10 billion or more in combined deal experience, mogul applies institutional-grade underwriting to every property, and co-founder Joey Gumataotao grew Goldman Sachs' single-family rental platform from $0 to $1 billion in under 12 months with a team of four. As of June 1, 2026, mogul reports more than $90 million in assets on the platform and more than 40,000 investors, across 65+ properties managed by mogul. Each property is held in a dedicated LLC structure: investors purchase ownership in an investment-club LLC associated with the LLC that owns the identified property, which carries proportional governance rights rather than individually deeded title to a fraction of the house. mogul facilitates access, and investment decisions remain the investor's own.
Arrived has built a larger-scale platform. Arrived says it was founded in 2019 and launched its first six investable properties in March 2021 after a period of platform and regulatory development. As of August 23, 2026, Arrived's live website reports 993K registered investors and $459M total invested, while its returns page reports 589+ funded properties across 67+ active markets. The platform offers both individual property investments and fund structures, with backing from notable investors including Bezos Expeditions and Marc Benioff.
Landa launched with a very low investment minimum and had previously reported roughly 200,000 registered users and about 25,000 active investors. Its investor-facing platform access has been disrupted since April 2025. In July 2026, Landa said access had briefly returned from late August through early October 2025 before similar problems recurred, and that it had no definite restoration timetable.
The fundamental difference: mogul combines institutional underwriting with investor protection features and a structure that carries no recurring annual fee on invested principal, while Arrived offers proven scale, and Landa's platform access remains disrupted. For investors weighing these approaches, mogul's guide to choosing an investment platform offers a useful framework.
Investment Options and Property Types
The three platforms offer different approaches to property selection and investment structures.
mogul's investment offerings include:
Short-term rentals (Airbnb-style stays of fewer than 30 days at high-end homes), which mogul's underwriting targets at roughly 10% to 12% levered yield
Mid-term rentals (stays longer than 30 days and shorter than one year) addressing workforce housing demand, targeted at roughly 12% to 14% levered yield and operating at 94% occupancy
Long-term residential rentals with stable tenant relationships, plus sale-leasebacks
Ownership stakes in property-specific investment-club LLCs tied to individual investment properties
Potential tax advantages: a partnership-taxed property LLC may pass through depreciation and other tax items, subject to the applicable offering and each investor's basis, at-risk rules, loss-limitation rules, and state tax circumstances
Monthly distributions of proportional distributable net rental income once a property is operational and cash-flowing, alongside real-time appreciation and tax benefits
mogul's model enables investors to select specific properties rather than investing in pooled funds, providing transparency into exactly where capital is deployed. The platform focuses on high-growth secondary markets with strong price-to-rent dislocation and growth fundamentals, including Charlotte, Atlanta, Nashville, Phoenix, Houston, Dallas, and Denver, with current properties also including Yucaipa, California.
Arrived's investment offerings include:
Single-family rental properties with long-term tenants
Vacation rental properties (short-term)
Fund products for diversified exposure
The Real Estate Income Fund, formerly named the Private Credit Fund, providing exposure to short-term financing backed by residential real estate
Properties across 67+ active markets
Arrived offers geographic diversification across its markets and operates a secondary market with defined trading windows, described in the liquidity discussion below.
Landa's historical offerings included:
Single-family and small multifamily properties, alongside Brooklyn apartment buildings identified in 2025 reporting
Property-level series LLC structures
A separate real-estate lending vehicle, Landa Financing LLC
App-based portfolio information and secondary trading
Landa's investor-facing platform access has been disrupted since April 2025. Landa said in July 2026 that platform access remained unavailable with no definite restoration timetable, while also stating that uninvested funds had been returned to users' bank accounts. Invested securities are not redeemable on demand, with outcomes tied to the underlying properties and any eventual sales. This situation underscores the importance of platform stability when selecting a fractional real estate provider.
Pricing and Fee Structures
Fee structures significantly impact long-term returns, and the three platforms take different approaches. Comparing them requires attention to the fee base, because a percentage means very different things depending on whether it applies to invested principal, property purchase price, NAV, or gross rental income.
mogul's pricing structure:
mogul reports an average investment of approximately $10,000, with a typical portfolio allocation of $17,321 per property
A 5% capitalized platform fee as summarized on mogul's how it works page; more detailed 2026 mogul materials describe this as a 3% one-time platform fee plus a 2% setup fee where a property requires preparation to become rent-ready
No traditional recurring annual AUM or asset-management fee on invested principal
An ongoing 2.5% fee on rental income
All property management and operational responsibilities included in the operating structure, keeping mogul's model accessible and headache-free
Blockchain-based back-office infrastructure that reduces operational costs and supports lower fees
Arrived's pricing structure:
Offering-specific sourcing fees. Arrived Homes 5 LLC's 2026 annual report states sourcing reimbursements of up to 3.5% of gross offering proceeds for the relevant SFR series, alongside other offering and financing costs
Quarterly asset-management fees of 0.1% to 0.30% per quarter, applied on different bases by product: individual SFR at 0.15% of the property's purchase price per quarter, the SFR Fund at 0.25% of NAV, and the Real Estate Income Fund at 0.30% of NAV, with vacation rentals using another basis
8% property management expense on gross rental income for long-term rentals
15% to 20% property management expense for vacation rentals, depending on market and manager
For ARRIVED STR LLC series specifically, an annual asset-management fee equal to 5% of gross revenues less maintenance and restocking expenses
6% to 7% property disposition costs upon sale for the relevant SFR series
Landa's historical pricing:
An acquisition fee of up to 6%
A property management fee of up to 8%
Fees on secondary market trades, charged to both buyer and seller
An annual management fee based on NAV plus an annual platform fee at the Landa Financing LLC level
How to Compare These Fee Structures Correctly
A single headline multi-year dollar figure is not a defensible way to compare these platforms, because the fee bases are not interchangeable. mogul's own 2026 fee guidance makes this point directly: a multi-year cost cannot be calculated from percentages alone, because gross rent, vacancy, rent growth, fee bases, appreciation, and transaction expenses all materially affect the outcome. Unsupported multi-year headline figures are illustrations rather than measurements.
The structural comparison that does hold up is this:
mogul applies a capitalized upfront fee and then charges on rental income only, with no traditional recurring annual fee on invested principal.
Arrived applies an offering-specific sourcing fee, a recurring quarterly asset-management fee calculated on property purchase price or NAV depending on the product, property management expense on gross rental income, and, for SFR series, disposition costs of 6% to 7% on sale.
The practical implication is that mogul's structure removes one recurring layer of fee drag that would otherwise compound across a multi-year hold. Quantifying that difference for any specific investor requires the property purchase price, the investor's ownership percentage, actual gross rent, occupancy and rent-growth assumptions, the holding period, and all applicable exit costs. Investors can model their own scenarios using mogul's free investment calculator.
Performance and Return Profiles
Performance metrics vary substantially across platforms, and they are not measured the same way. Before comparing any two numbers below, note the metric type: an IRR and a cash dividend yield are different measures and cannot be treated as equivalent without normalization.
mogul's performance data:
18.8% average annual returns (IRR) across platform properties, the highest average IRR among the fractional platforms mogul tracks in its own comparison
Target weighted average total return of roughly 15% to 20% on a levered basis, described by mogul as property-specific underwriting targets rather than realized portfolio results
Target levered weighted-average yield of 11% to 13%, with 9% to 11% NOI
Monthly dividends from distributable net rental income once a property is operational, plus real-time appreciation and tax benefits
Community features such as mogul Clubs, which distribute up to 2% in rewards to members
Up to $10,000 in loss protection for new members during year one
90% of mogul investors invest a second time, and when they do it is 3x their first investment
Arrived's performance data:
A 3.5% average annualized dividend yield for individual single-family rental properties in Q2 2026. Arrived notes these figures are unaudited and applies exclusions to the reported range. This is a cash distribution measure rather than a total return
Monthly distributions, transitioned from quarterly, with individual properties beginning monthly dividends once producing income and the SFR and Real Estate Income funds currently expecting monthly payments
Landa's historical performance:
Performance and distribution information has not been available to investors while platform access remains disrupted
mogul's focus on single-family rentals positions investors in an asset class that mogul's published historical comparison reports at 13.8% for single-family rentals versus 9.8% for the S\&P 500 from 1993 to 2023, citing NAREIT, U.S. Federal Reserve, Case-Shiller Home Index, and Bloomberg data. Over a 30-year hold, that same analysis reports single-family rentals averaging 190% higher returns with 45% less volatility, with a standard deviation of 2.3% for single-family rentals versus 4.2% for the S\&P 500. mogul notes that a real estate IRR and a conventional time-weighted equity index return should be made methodologically comparable before conclusions are drawn.
Risk Protection Comparison
The three platforms take different approaches to downside mitigation:
mogul: Covers up to $10,000 in losses for new members if investments made within their first 7 days show a loss after year one, paid from mogul's own balance sheet capital. mogul also capitalizes reserves at the property level, maintains 12 months of operating reserves per asset, and carries property and business interruption insurance
Arrived: No comparable loss-reimbursement program was identified. Arrived does disclose structural protections: individual homes use standalone series LLCs with separate ownership and bank-account structures, and Arrived states that a successor custodian would be assigned if the platform ceased operating
Landa: No comparable principal-loss reimbursement program was identified in the 2025 to 2026 sources reviewed
mogul's $10,000 loss protection is the only contractual principal-loss reimbursement feature identified among the three platforms, providing meaningful downside mitigation for new investors building familiarity with fractional real estate.
Technology and Transparency
Technology infrastructure affects both the investor experience and long-term ownership verification.
mogul's technology stack:
Avalanche blockchain integration, with every property tokenized and ownership recorded on-chain, used as an efficient back office rather than a crypto product
Fireblocks enterprise custody for security
Investment execution in under 30 seconds, keeping the investing process quick and streamlined
Real-time investor dashboard with valuations, rental income distributions, and projections
Monthly fair market value calculated using third-party appraisal-level data
A free investment calculator that can underwrite a property from a U.S. address
A planned secondary market built on the same on-chain infrastructure
Arrived's technology:
A regulated securities structure using series interests, broker and ATS execution, and transfer-agent settlement rather than blockchain ownership records
Web and mobile-accessible platform with holding-level performance and valuation information
Secondary market with one-week monthly trading windows
Landa's technology (historical):
Mobile-first app experience with portfolio tracking and secondary trading
Traditional securities structure
Platform access disrupted since April 2025, with a brief restoration from late August to early October 2025 before problems recurred
mogul's blockchain backbone provides permanent, on-chain ownership records that mogul states are independently verifiable and accessible via Snowtrace, existing independently of the platform interface itself. This infrastructure also underpins the planned secondary market, addressing the liquidity considerations inherent in real estate investing.
Platform Stability and Operational Status
For any investor, platform stability represents a critical consideration.
mogul's stability indicators:
A $3.6M seed round announced in November 2023, bringing total funding to $4.2M. The round was led by AY Ventures, with participation from Draper Associates, Draper B1, Draper Dragon, InterVest, and Blizzard the Avalanche Ecosystem Fund, plus angel investors. mogul's broader backer base also includes Ava Labs and angels from firms including J.P. Morgan, Goldman Sachs, and Carlyle
Backed by Tim Draper, Chris Larsen (Ripple co-founder and executive chairman), and Rosa Rios (43rd U.S. Treasurer)
Featured in TechCrunch, with additional coverage in Forbes, Axios, Wired, Fortune, and Bloomberg
Fully operational, with more than 40,000 investors and more than $90 million in assets on the platform as of June 1, 2026
Institutional-caliber leverage at 100 to 150 bps below market interest rates, with interest-only 10-year fixed loans and 65% to 75% loan-to-value
Arrived's stability indicators:
$27M raised in November 2025, with backing from Bezos Expeditions and Marc Benioff
Founded in 2019, with fractional property offerings launched in March 2021
993K registered investors and $459M total invested as of August 2026
Continues to publish 2026 operating results
Landa's operational status:
Investor-facing platform access disrupted beginning April 2025, with Landa stating in July 2026 that access briefly returned from late August through early October 2025 before similar problems recurred, and that no definite restoration timetable had been provided
A subset of Landa's houses was placed under independent management in connection with a lender dispute that Landa has contested. Landa's broader holdings were described in 2025 reporting as including more than 200 single-family rentals around Atlanta plus additional Southeast properties and Brooklyn apartment buildings
Landa-related entities have continued asset-management activity in 2026, including property dispositions and additional financing, so the situation is most accurately described as an investor-facing platform disruption rather than a total cessation of corporate operations
Landa's situation underscores why platform backing, operating track record, and investor protection mechanisms matter when selecting a fractional real estate provider.
Property Selection and Due Diligence
The rigor of property selection directly impacts investor outcomes.
mogul's selection methodology:
Less than 1% of reviewed properties pass mogul's diligence process, producing professionally vetted and managed properties
Proprietary underwriting models combining AVMs and CMAs
Properties curated by former Goldman Sachs executives whose team has deployed $10 billion
Institutional-grade analysis applied to every property reviewed, following a defined property selection process and property onboarding process
A buy box targeting a $500k to $2mm strike price, off-market opportunities acquired 8% to 10% below market value with verified operating actuals, and minor-to-no capex required to stabilize a property for cash flow on day one
mogul invests in every property offered
Research analysts and institutional partners identify maximum upside potential
Focus on high-yield short-term and mid-term rental strategies, with a typical hold framework of 3 to 10 years
Arrived's selection approach:
Professional property vetting team
Focus on properties across 67+ active markets
589+ funded properties to date
Diversification across long-term and vacation rental strategies
Landa's historical approach:
Single-family and small multifamily properties in select markets
Property-level series LLC structures
The alignment of interests matters: mogul's capital sits alongside investor capital in every property, ensuring management incentives match investor returns. Preview this analytical approach using mogul's free rental property calculator on any U.S. address.
Liquidity and Secondary Markets
Liquidity approaches differ across the three platforms, and the differences are more nuanced than a simple "has a secondary market" comparison suggests.
Arrived operates a secondary market with one-week trading windows each month. Eligible individual properties must first be fully funded and held for at least six months. The executing broker may charge up to 2.5% to the buyer and up to 2.5% to the seller. Secondary trading is therefore available within defined windows and eligibility requirements rather than continuously.
mogul has a planned secondary market leveraging its Avalanche blockchain in real estate infrastructure, and already calculates a monthly fair market value using third-party appraisal-level data, which is the valuation layer that supports secondary pricing. mogul also monitors several exit avenues at the asset level, including traditional sale, private sale to inventory partners, cash-out refinancing, bulk sale to an institution, and platform sale to members at market value with little-to-no closing costs.
Landa previously offered a secondary market with fees charged to both buyer and seller, and trading functionality has been unavailable during the platform disruption.
Why mogul Delivers Superior Value for Fractional Real Estate Investors
Investors seeking accessible entry into real estate face a clear choice. While Arrived offers proven scale and Landa's platform access remains disrupted, mogul provides a compelling combination of returns, protection, and institutional expertise. Most high net worth individuals and family offices allocate 23% of their portfolios to real estate, and mogul is built to help investors construct portfolios like the wealthiest investors in the world for a fraction of the time and cost.
Key advantages of mogul's approach:
Strong reported returns: 18.8% average annual IRR across platform properties, against Arrived's most recent published figure of a 3.5% average annualized dividend yield for individual SFR properties in Q2 2026. These measure different things, an internal rate of return versus a cash distribution yield, so they should be understood as complementary rather than directly equivalent
Distinctive investor protection: mogul covers up to $10,000 in losses for new members, the only contractual principal-loss reimbursement feature identified across the three platforms in this review
No recurring fee on principal: mogul charges no traditional annual AUM or asset-management fee on invested principal, instead charging 2.5% on rental income, removing a layer of recurring fee drag
Institutional expertise: Former Goldman Sachs executives with $10 billion deployed apply rigorous underwriting with a less-than-1% property acceptance rate
Property-specific ownership: Invest in specific investment properties through investment-club LLCs rather than pooled funds, with full visibility into each property's performance and governance rights weighted by ownership percentage
Monthly income: Receive monthly dividends from distributable net rental income once properties are operational, enabling better cash flow management and faster reinvestment
Blockchain transparency: Avalanche network integration provides immutable ownership records, reduces operational costs, and supports future secondary market liquidity
Aligned interests: mogul invests in every property alongside platform investors
Built-in diversification benefits: Low correlation with stocks and bonds, plus a built-in inflation hedge, as explained in mogul's overview of why real estate belongs in a portfolio
Member rewards: mogul Clubs distribute up to 2% in rewards to members, and the Give $50, Get $50 offer pays $50 when a referred friend invests, subject to the referral program terms
For investors evaluating a new platform, mogul's combination of investor protection, institutional underwriting, and absence of a recurring principal fee offers a well-supported path to building a real estate portfolio. The $10,000 loss protection specifically addresses the platform stability considerations that matter most to investors entering fractional real estate.
Ready to explore fractional real estate with institutional-grade protection? Analyze potential investments with mogul's free Airbnb calculator, review the help center, 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 happened to Landa and can investors still access their money?
Landa's platform-access disruption began in April 2025. In July 2026, Landa said access had briefly returned from late August through early October 2025 before similar problems recurred, and that it had no definite restoration timetable. Separately, a subset of Landa's houses was placed under independent management in connection with a lender dispute that Landa has contested. On the money question, it is helpful to distinguish three things. Platform and account access has been unavailable for extended periods. Landa has stated that uninvested funds were returned to users' bank accounts. Invested capital, however, sits in securities that are not redeemable on demand, with outcomes tied to the underlying properties and any eventual sales. For investors evaluating alternatives, mogul covers up to $10,000 in losses for new members, a program designed to address platform risk considerations.
How does mogul's fee structure compare to Arrived over a long-term hold?
The structural difference is clearer than any single headline number. mogul charges a 5% capitalized platform fee, described in detailed 2026 materials as a 3% platform fee plus a 2% setup fee where rent-ready preparation is required, then an ongoing 2.5% fee on rental income, with no traditional recurring annual AUM or asset-management fee on invested principal. Arrived charges an offering-specific sourcing fee, disclosed as up to 3.5% of gross offering proceeds for Arrived Homes 5 LLC, a recurring quarterly asset-management fee whose base differs by product, property management expense of 8% of gross rental income for long-term rentals and 15% to 20% for vacation rentals, and, for SFR series, 6% to 7% disposition costs on sale. Any dollar comparison requires the property purchase price, the investor's ownership percentage, actual gross rent, occupancy and rent-growth assumptions, the holding period, and all exit costs, because these fees are calculated on different bases. As mogul's own fee guidance notes, multi-year cost figures derived from percentages alone are illustrations rather than measurements. The defensible conclusion is that mogul's structure eliminates one recurring layer of fee drag on principal that would otherwise compound across a long hold.
What makes mogul's $10,000 loss protection distinctive in fractional real estate?
If your total return on investments made within your first 7 days shows a loss after year one, mogul covers up to $10,000 from its own balance sheet capital. As an illustration, if you invest $20k across 5 properties in those first 7 days, for $100k in total, and that $100k stands at $90k after one year, mogul trues you up to your $100k. No comparable principal-loss reimbursement program was identified at Arrived or Landa in this review. Arrived does disclose structural safeguards, including standalone series LLCs per property and a successor custodian arrangement if the platform ceased operating, which protect the ownership structure rather than reimburse investment losses. mogul's program directly addresses platform and market risk considerations, providing meaningful downside mitigation as new investors build familiarity with fractional real estate.
Can I sell my fractional real estate shares before the property sells?
Liquidity approaches vary across platforms. Arrived operates a secondary market with one-week trading windows each month for eligible properties that are fully funded and held for at least six months, and the executing broker may charge up to 2.5% on each side of a trade. mogul has a planned secondary market leveraging its Avalanche blockchain infrastructure, supported by monthly fair market valuations using third-party appraisal-level data, and mogul continuously monitors several asset-level exit avenues including traditional sale, private sale, cash-out refinancing, bulk sale, and platform sale to members. Landa previously offered a secondary market with fees on both sides of a trade, and trading has been unavailable during the platform disruption. Learn more about how mogul works and its approach to liquidity.
Why should former Landa investors consider mogul over Arrived?
Investors seeking a new platform can weigh mogul's investor protection focus against Arrived's established scale. mogul offers several advantages that are especially relevant to investors who value platform stability: the $10,000 loss protection addresses platform risk considerations directly; the Goldman Sachs pedigree and less-than-1% property acceptance rate provide institutional-grade vetting; and the absence of a traditional recurring annual fee on invested principal means lower ongoing structural costs. Arrived operates a secondary market within defined windows and eligibility requirements, while mogul pairs a reported 18.8% average IRR with investor protection, monthly dividends, and a structure that carries no recurring fee on principal.
How does mogul select the properties on its platform?
mogul applies institutional-grade underwriting to every property it reviews, and less than 1% pass the process. The buy box targets a $500k to $2mm strike price in supply-constrained markets with recognizable demand drivers, high barriers to entry, and superior locations within each market. mogul prefers already operational assets with historical performance and minor-to-no capex required to stabilize for cash flow on day one, with value creation coming from new operational management. Programmatic relationships with operators, brokers, and limited partners give mogul access to off-market and pre-market opportunities at 8% to 10% below market value, and boots-on-the-ground property management teams with in-house brokerage operate each asset. You can read more about mogul's property selection process and its property onboarding process.