Selecting the right fractional real estate platform requires understanding fundamental differences in accessibility, investment structure, and long-term performance. mogul and Cadre represent two distinct approaches to real estate investing: mogul delivers direct fractional ownership in single-family rentals through blockchain-backed technology and institutional-grade underwriting, while Cadre historically focused on institutional commercial real estate for accredited investors. Yieldstreet acquired Cadre in January 2024, and Yieldstreet subsequently changed its own name to Willow Wealth in November 2025. Cadre remains available as a legacy account and investment portal for existing investors while directing new investors to Willow Wealth, prompting investors to re-evaluate their options. Understanding these distinctions, between accessible residential-focused fractional ownership and institutional commercial real estate structures, helps investors select the approach 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-grade underwriting with less than 1% of reviewed properties passing their selection process, with flexible entry points for new investors
- mogul welcomes non-accredited investors with flexible entry points, while Cadre historically required accreditation and legacy minimums of $25,000 for its Direct Access Fund and $50,000 for deal-by-deal investing; Cadre no longer opens new accounts
- mogul provides monthly rental income distributions when a property is operational and generates distributable net rental income, enabling faster reinvestment and cash flow management compared to quarterly or variable distribution schedules
- 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 fractional real estate
- mogul's blockchain integration on the Avalanche network delivers instant, independently verifiable ownership records, with property performance information and third-party appraisal-level valuations updated monthly
- mogul charges 0% annual AUM fees, creating significant savings over multi-year holds compared to the recurring management fees Cadre historically charged, which its Form CRS described as combined asset-management and administration fees averaging roughly 1% to 2%
- Cadre was acquired by Yieldstreet in January 2024; Yieldstreet later changed its own name to Willow Wealth in November 2025, while Cadre continues as a legacy portal for existing investors, representing a significant structural change
When investors evaluate fractional real estate platforms, the choice between mogul and Cadre represents two distinct philosophies toward property investment. While Cadre built a reputation in institutional commercial real estate before its acquisition, mogul brings a technology-forward approach with Goldman Sachs expertise to the single-family rental market. This comparison reveals why mogul's combination of accessibility, transparency, and institutional rigor delivers compelling value for investors seeking property-specific ownership.
Understanding Each Platform's Core Positioning
Cadre historically positioned itself as a commercial real estate platform serving accredited investors, describing its investments and underwriting as institutional-quality. Founded in 2014, the company was valued at approximately $800 million in connection with its 2017 Series C financing, which remained its latest widely reported valuation when Forbes profiled the company in 2019, with backing from prominent venture capital firms. Cadre focused on multifamily, office, industrial, and hotel properties, targeting sophisticated investors seeking institutional co-investment opportunities. Yieldstreet completed its acquisition of Cadre in January 2024, and Yieldstreet subsequently changed its own name to Willow Wealth in November 2025, while Cadre continues to serve existing investors as a legacy portal.
mogul takes a focused approach to fractional real estate. Founded by former Goldman Sachs real estate executives with $10 billion deal experience, mogul specializes in single-family residential rentals including short-term and mid-term strategies. Rather than pooling investments into funds, mogul offers fractional ownership in individual properties through property-specific LLC structures, giving investors membership interests tied to specific homes.
The fundamental difference: Cadre historically provided commercial real estate exposure for accredited investors through an institutional structure, with new investors now directed to Willow Wealth, while mogul offers membership interests in property-specific LLCs that own residential homes you can identify by address, available to accredited and non-accredited investors subject to onboarding and eligibility requirements.
Investment Options Reflect Different Strategic Approaches
Cadre's investment portfolio historically included:
- Deal-by-deal investments in individual commercial properties (multifamily, office, industrial, hotels)
- Diversified commercial real estate fund offerings
- Managed portfolios
- Secondary market with quarterly trading windows, though liquidity was never guaranteed
- Assets Cadre described as institutional-quality
- Accredited investor requirement across legacy offerings
Following the Yieldstreet acquisition, new investor sign-ups now route through Willow Wealth's platform rather than a standalone Cadre experience.
mogul's investment offerings focus on:
- Short-term rentals (Airbnb-style properties generating higher yields)
- Mid-term rentals (30+ day stays addressing workforce housing demand)
- Long-term residential rentals with stable tenant relationships
- Potential tax advantages, including depreciation-related deductions that may pass through depending on offering terms and an investor's individual tax circumstances
- Membership interests in property-specific LLCs that own individual properties
mogul's model enables investors to select specific properties rather than investing in pooled funds, providing transparency into exactly where capital is deployed.
For example, while Cadre historically offered both diversified commercial real estate funds and deal-by-deal investments in individual commercial properties, mogul allows investors to review individual property underwriting, including projected yields, annual revenue, and market comparisons, before committing capital to a specific home. Try mogul's free real estate calculator to run your own analysis.
Pricing Structures Show Distinct Value Propositions
The pricing models reveal each platform's target market and accessibility philosophy.
Cadre's historical pricing structure:
- Legacy minimums that varied by product: $25,000 for the Direct Access Fund and $50,000 for deal-by-deal investing
- Managed portfolios: a historical 2018 product with a $250,000 minimum, not a current onboarding term
- One-time commitment fee: 3% in one Direct Access Fund example, with fees varying by product and investment amount
- Recurring fees that varied by offering: Cadre's Form CRS described combined asset-management and administration fees averaging roughly 1% to 2%, and one Direct Access Fund example charged 1.5% for asset management plus 0.50% for administration annually
- Promote or carried interest allocable to a Cadre affiliate in certain investments, with hurdles and distribution waterfalls that were offering-specific
mogul's pricing structure:
- Flexible minimums for new investors, with individual allocations that vary by investor and property
- One-time 3% platform/onboarding fee, capitalized into the deal
- Conditional 2% setup or rent-ready fee when a property requires preparation, maintenance, capital improvements, or leasing work
- 0% recurring annual management fees
- Ongoing 2.5% fee on collected rental income
- All property management included
5-Year Cost Comparison ($50,000 Investment):
| Cost Component | mogul | Cadre (illustrative, 1.25% annual assumption) |
|---|---|---|
| Initial Fee | $1,500 to $2,500 (3% platform fee, plus a conditional 2% setup fee if the property requires preparation) | $1,500 (3% estimated) |
| Annual AUM Fees (5 years) | $0 | $3,125 ($625/yr × 5) |
| Total Fixed Fees | $1,500 to $2,500 | $4,625 |
The Cadre column above is illustrative only and assumes a 1.25% annual fee; Cadre's actual recurring fees varied by offering and, per its Form CRS, averaged roughly 1% to 2%. mogul's figures exclude its ongoing 2.5% fee on collected rental income, which cannot be calculated without assumptions about rent collected.
mogul charges capitalized upfront fees and no recurring annual AUM fee, along with an ongoing 2.5% fee on collected rental income. Its lack of a recurring annual AUM fee may reduce costs relative to platforms charging recurring asset-based fees over a multi-year hold, the horizon most real estate positions require for optimal returns. Actual savings depend on whether mogul's conditional setup fee applies, the rental income collected, and the complete fee schedule of the comparison investment.
Target Investors Align with Different Objectives
Cadre historically served:
- Accredited investors meeting SEC income/net worth requirements
- Investors with capital to meet legacy minimums ($25,000 for the Direct Access Fund, $50,000 for deal-by-deal)
- Those seeking commercial real estate exposure
- Institutional-minded investors comfortable with longer hold periods
As of July 2026, Cadre no longer opens new accounts and directs prospective investors to Willow Wealth.
mogul targets:
- First-time real estate investors entering the asset class
- Existing property owners evaluating portfolio performance
- Seasoned investors looking for risk-adjusted returns outside volatile public markets
- Tech-forward investors valuing blockchain transparency
- Those seeking monthly income from real estate
This distinction matters fundamentally. SEC staff research published in 2026 estimated that approximately 12.6% of the U.S. population qualified as accredited investors, meaning roughly 87.4% did not, while a separate household-level estimate found that 18.5% of households qualified in 2022. Cadre's legacy investor pool was inherently restricted by its accreditation requirement. mogul's flexible minimums and property-specific LLC ownership model enable portfolio building one property at a time, with full visibility into each investment property's performance.
Performance and Return Profiles
Both platforms approach performance reporting differently based on their investment structures.
Cadre's performance data:
- Cadre historically reported realized returns on a set of completed commercial real estate exits, consistent with its institutional deal-by-deal model
- Those results covered realized single-asset exits only and were reported on a different basis than platform-wide, single-family rental performance
mogul's performance data:
- 18.8% average annual returns (IRR) across platform properties
- Target annual returns: 15-20% IRR
- Record monthly yield of 2.6%
- Monthly yield distributions from an investor's share of available net rental income when a property is operational
- 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
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, has historically outperformed the S\&P 500 on an annual basis from 1993 to 2023 (13.8% IRR vs. 9.8% IRR).
Technology and Transparency Approaches
Cadre's technology:
- Due diligence and underwriting Cadre described as institutional-quality
- Quarterly secondary market for eligible investments, though Cadre stated liquidity was never guaranteed and its secondary market was not a public exchange
- Public materials reviewed for this comparison do not describe blockchain-based ownership or recordkeeping
- New investors now directed to Willow Wealth, with existing Cadre investors retaining access to legacy accounts
mogul's technology infrastructure:
- Avalanche blockchain integration providing instant, independently verifiable ownership records
- Fireblocks enterprise custody for security
- Property performance information displayed through mogul's dashboard, with third-party appraisal-level valuations updated monthly
- Investment execution in under 30 seconds
- Monthly property valuations via third-party appraisal data
mogul's blockchain backbone provides permanent, verifiable ownership records that exist independently of the platform itself. Legal ownership documentation is also automatically uploaded to your account after each investment. This infrastructure enables the planned secondary market for share trading, addressing the liquidity challenges inherent in real estate investing.
Property Selection and Due Diligence
Cadre's vetting process:
- Analysis Cadre described as institutional-quality for commercial properties
- Focus on multifamily, office, industrial, hotel assets
- Co-investment alongside institutional investors
- Sponsor evaluation and deal structuring
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
- mogul personally invests in every property offered
- Research analysts and institutional partners identify maximum upside potential
The alignment of interests matters: mogul's capital sits alongside investor capital in every property, ensuring management incentives match investor returns.
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, projecting rental income, ROI, IRR, and cash-on-cash yields across multiple scenarios.
Distribution Frequency and Cash Flow
For investors prioritizing regular income, distribution schedules significantly impact cash flow management.
Cadre distributions:
- Varied by deal structure
- Quarterly timing typical for many investments, with initial distributions generally occurring three to five months after closing
- Distribution frequency dependent on underlying property performance
mogul distributions:
- Monthly payments of an investor's proportional share of available net rental income when a property is operational; payments and amounts are not guaranteed
- Actual rental revenue (not projected estimates)
- Potential tax benefits, including depreciation-related deductions that may pass through depending on offering terms and an investor's individual circumstances
- Proceeds from eventual property sales after 3-10 year holds
mogul's monthly distribution model enables more frequent reinvestment opportunities, accelerating potential compounding compared to quarterly payment schedules.
Backing and Market Credibility
Cadre's credentials:
- Founded 2014 with institutional backing from Andreessen Horowitz, Khosla Ventures, Thrive Capital
- Valued at approximately $800 million in connection with its 2017 Series C financing, its latest widely reported valuation when Forbes profiled the company in 2019
- Slightly more than $4.5 billion in total asset value on its platform as of November 2023; Cadre separately reported more than $5 billion in total transaction volume as of October 2022
- Financial terms of the Yieldstreet acquisition were not disclosed
mogul's credentials:
- Founded by former Goldman Sachs real estate executives
- $3.6 million seed round led by AY Ventures, with participation from Tim Draper & Associates (early Robinhood, SpaceX, Tesla backer); mogul states an earlier pre-seed round was led by Tim Draper
- Investors include Chris Larsen (Ripple co-founder), Rosa Rios (43rd U.S. Treasurer)
- Featured in TechCrunch, Forbes, Wired, Yahoo Finance, Fortune
- 35,000+ users on the platform as of June 1, 2026
- $90M in assets on mogul as of June 1, 2026
Draper Associates has stated that it believes mogul's founding team is reshaping real estate investing and providing long-term wealth-generation opportunities for users. Tim Draper has also highlighted mogul's simplified purchasing, recordkeeping, and tax-administration model.
Why mogul Delivers Superior Value for Real Estate Investors
Investors seeking accessible entry into real estate face a clear choice between institutional commercial platforms with significant barriers and residential LLC ownership built for accessibility.
Key advantages of mogul's approach:
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Property-specific ownership: Hold membership interests in property-specific LLCs that own individual properties rather than pooled funds. Know exactly which homes your capital supports, with full visibility into each property's performance metrics.
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Broad accessibility: mogul welcomes accredited and non-accredited investors with flexible minimums, subject to onboarding, KYC, and eligibility requirements, democratizing access to institutional-quality real estate that was previously reserved for the wealthy.
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Monthly income potential: When a property is operational and generates distributable net rental income, receive monthly distributions proportional to your ownership stake, enabling better cash flow management and faster reinvestment. Payments and amounts are not guaranteed.
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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.
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Potentially lower long-term costs: mogul charges capitalized upfront fees and no recurring annual AUM fee, along with an ongoing 2.5% fee on collected rental income. Its lack of a recurring annual AUM fee may reduce costs relative to platforms charging recurring asset-based fees, with actual savings depending on whether mogul's conditional setup fee applies, the rental income collected, and the comparison investment's complete fee schedule.
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Documented performance: mogul reports an 18.8% average annual IRR across platform properties. Cadre historically reported realized returns on completed commercial exits, and the two reflect different structures, asset classes, and reporting methods that are not directly comparable.
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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.
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Blockchain transparency: Avalanche network integration provides immutable ownership records and enables future secondary market liquidity.
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Aligned interests: mogul personally invests in every property alongside platform investors, ensuring management prioritizes returns.
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Focused platform: mogul operates as a focused fractional single-family-rental investment platform, while Cadre now functions as a legacy portal within the Willow Wealth structure, with new investors directed to Willow Wealth.
For investors seeking headache-free fractional real estate with monthly income potential, institutional-grade property selection, and property-specific ownership 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 compelling value that institutional commercial real estate structures were not built to match.
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 primary difference in investment focus between mogul and Cadre?
mogul specializes in single-family residential rentals, including short-term, mid-term, and long-term rental properties, available to accredited and non-accredited investors (subject to onboarding and eligibility) through membership interests in property-specific LLCs. Cadre historically focused on commercial real estate it described as institutional-quality (multifamily, office, industrial, hotels) for accredited investors. mogul reports 18.8% average annual returns and cites single-family rentals' historical outperformance of the S\&P 500. Cadre's commercial real estate focus served a different investor profile; new investors are now directed to Willow Wealth.
How do the liquidity options compare for investors on mogul versus Cadre?
Cadre historically offered quarterly secondary market windows for eligible investments, though it stated liquidity was never guaranteed and its secondary market was not a public exchange. mogul's investments are held for 3-10 years, with monthly income distributions when properties are operational and generate distributable net rental income. mogul's blockchain infrastructure on the Avalanche network supports a planned secondary market feature for share trading. While both platforms involve long-term real estate commitments, mogul's monthly distributions provide regular cash flow when properties perform, and the blockchain foundation positions the platform for enhanced liquidity options as it scales.
Is mogul suitable for first-time real estate investors?
mogul was built specifically to make institutional-quality real estate accessible to a broader range of investors. The platform welcomes non-accredited investors with flexible entry points, subject to onboarding and eligibility, with individual allocations that vary by investor and property. mogul's up to $10,000 loss protection for investments made within the first 7 days (if those show a loss after year one) provides unique downside protection for those new to real estate investing. The platform handles all property management, tenant coordination, and operational responsibilities, making it truly headache-free.
What kind of returns can I expect from investing with mogul?
mogul reports 18.8% average annual returns (IRR) across platform properties, with target returns of 15-20% IRR annually. The platform also reports a record monthly yield of 2.6%. mogul focuses on single-family rentals, and its own analysis of Federal Reserve and Case-Shiller data states this asset class returned approximately 39% more than the S\&P 500 on an annual basis from 1993 to 2023. Returns vary by property, market conditions, and hold period, and are not guaranteed. mogul provides detailed underwriting for each property including projected yields, annual revenue, and scenario analysis. Use the free investment property calculator to analyze potential returns on any U.S. address.
How does mogul's property selection and management process work?
mogul applies institutional-grade underwriting with less than 1% of reviewed properties passing their selection process. The platform's research analysts and institutional partners use proprietary models combining automated valuation models (AVMs) and comparative market analysis (CMA) tools to identify properties with maximum upside potential. Critically, mogul personally invests in every property offered on the platform, aligning management interests with investor returns. Once properties are acquired, mogul handles all property management, tenant coordination, and operational responsibilities; when a property is operational and generates distributable net rental income, investors receive monthly distributions proportional to their ownership stake. Learn more about how it works.
What technological innovations do mogul and Cadre employ in their platforms?
mogul leverages blockchain technology on the Avalanche network to provide instant, independently verifiable ownership records, with property performance information displayed through its dashboard and third-party appraisal-level valuations updated monthly. This integration enables investment execution in under 30 seconds and positions the platform for planned secondary market trading capabilities. Cadre historically employed analytics and underwriting technology it described as institutional-quality, along with a quarterly secondary market feature. mogul's free tools, including the Airbnb calculator, rental property calculator, and real estate calculator, provide investors access to the same data and analysis tools used by top real estate firms.