Choosing between real estate investment platforms requires understanding the fundamental differences in how each approaches property ownership, investor accessibility, and wealth building. mogul and CrowdStreet represent two distinct philosophies: mogul delivers direct fractional ownership in single-family rentals through blockchain-backed technology with no accreditation requirements, while CrowdStreet is an accredited-investor private markets platform that includes commercial real estate alongside private credit, private equity, venture capital, infrastructure, and multi-asset strategies. Understanding the distinction between residential fractional ownership and CrowdStreet's accredited-investor private markets model helps investors compare accessibility, asset classes, liquidity, and structure.
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 was created by Goldman Sachs real estate alumni (former Goldman Sachs investment professionals and acquisitions experts) who apply institutional-grade underwriting, with less than 1% of reviewed properties passing their selection process and a typical allocation of $17,321 per property
- mogul is open to all investors with no accreditation requirement, while CrowdStreet requires accreditation, with minimums that vary by offering
- mogul provides monthly rental income distributions, compared to CrowdStreet, whose distributions are offering-specific and not guaranteed and may be monthly, quarterly, or annual depending on structure and cash flow
- mogul covers up to $10,000 in losses on investments made within a new member's first 7 days if those investments show a loss after year one, a unique risk mitigation feature in the fractional real estate space
- mogul's blockchain integration on the Avalanche network delivers real-time transparency into property performance and ownership records with a planned secondary market
- mogul does not charge a recurring annual AUM or asset-management fee; its disclosed fees include a one-time 3% platform/onboarding fee, a conditional 2% setup fee if a property requires rent-ready work, and an ongoing 2.5% fee on rental income
- mogul's accessible entry and typical allocation of $17,321 per property enables diversified portfolio building for both accredited and non-accredited investors
When investors evaluate fractional real estate platforms, the choice between mogul and CrowdStreet represents two distinct philosophies toward property investment. While CrowdStreet has operated for over a decade and has raised more than $4 billion across private real estate and other alternative investments, 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 direct property ownership.
Understanding Each Platform's Core Positioning
CrowdStreet began as a commercial real estate marketplace and still offers CRE deals and funds, but its current platform also includes broader private market offerings such as private credit, private equity, venture capital, infrastructure, and multi-asset strategies. Founded in 2013, CrowdStreet has built its reputation in private real estate, serving 300,000+ registered members seeking exposure to institutional-scale opportunities. The platform became a FINRA-registered broker-dealer in 2022 and is intended only for accredited investors.
mogul takes a focused approach to fractional real estate. Created by Goldman Sachs real estate alumni (former Goldman Sachs investment professionals and acquisitions experts) with billions in real estate deal experience, mogul specializes in single-family residential rentals including short-term and mid-term strategies. Rather than requiring accreditation or large capital commitments, mogul offers direct fractional ownership in individual properties through LLC structures, giving investors actual stakes in specific homes through an accessible entry point.
The fundamental difference: CrowdStreet provides accredited-investor access to private markets including commercial real estate, with minimums that vary by offering, while mogul delivers direct ownership in residential properties accessible to all investors with no accreditation required. This open-access model brings single-family rental ownership to investors who fall outside accredited-only platforms.
Investment Options Reflect Different Strategic Approaches
CrowdStreet's investment portfolio includes:
- Direct real estate deals and real estate funds
- Broader private-market opportunities including private credit, private equity, venture capital, infrastructure, and multi-asset strategies
- Development projects across sectors such as office, multifamily, industrial, and retail
- Self-directed IRA compatibility through custodians, including an Equity Trust integration announced January 29, 2025
- Access to funds such as PCAP, which is managed by Churchill Asset Management, a Nuveen affiliate, with expanded private-market access announced through relationships including Nuveen and StepStone
This structure suits accredited investors seeking institutional-grade private-market exposure with significant capital to deploy.
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
- Built-in tax advantages including depreciation deductions
- Direct LLC ownership stakes in 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, CrowdStreet offers both individual private-market offerings and funds, where asset selection depends on the structure: direct deals are selected by the investor from available offerings, while funds are managed by the fund sponsor or manager. By contrast, 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.
CrowdStreet's pricing structure:
- Accreditation required, with minimums that vary by offering
- No separate investor account or platform fee, but investors can bear offering-level and product-level fees, including sales loads, placement fees, servicing fees, management fees, performance fees, and other costs depending on the offering
- Accredited investor verification required
- Fee structures vary by individual offering and sponsor
mogul's pricing structure:
- Typical allocation of $17,321 per property, with accessible entry for investors
- 3% platform/onboarding fee plus a conditional 2% setup fee if the property requires rent-ready preparation, both capitalized into the deal
- No recurring annual AUM or asset-management fee
- An ongoing 2.5% fee on rental income
- No accreditation required
Fee Structure Comparison ($10,000 Investment):
- Upfront fees: mogul charges a one-time ~$300-500, while a 1% AUM platform charges none.
- Recurring asset-management (AUM) fee: mogul charges none, while a 1% AUM platform charges 1% of asset value, charged every year you hold.
- Ongoing rental-income fee: mogul charges 2.5% of rental income, while for a 1% AUM platform this is n/a.
This comparison contrasts mogul with a generic 1% AUM platform, not with CrowdStreet specifically. CrowdStreet costs vary by offering and can include sales loads, placement fees, product-level management fees, performance fees, and other expenses.
mogul's front-loaded fee structure creates meaningful multi-year savings versus platforms charging recurring annual AUM fees, the exact investment horizon most real estate positions require for optimal returns.
Target Investors Align with Different Objectives
CrowdStreet primarily serves:
- Accredited investors with capital to deploy across offerings with varying minimums
- Investors seeking private-market exposure including commercial real estate (office, industrial, retail, multifamily) and other asset classes
- Those comfortable with illiquid, offering-specific hold periods (CRE sponsors often target three to five years, with target holds ranging from roughly two to fifteen years)
- Experienced investors evaluating institutional-grade deals
mogul targets:
- First-time real estate investors entering the asset class
- Non-accredited investors seeking real estate exposure
- 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. CrowdStreet's accredited-investor requirement excludes a large majority of U.S. households; recent SEC estimates suggest roughly 18.5% of households qualified under financial criteria in 2022, meaning the excluded share is closer to 81.5% of households, not 98% of the population. Because CrowdStreet is limited to accredited investors, mogul's non-accredited access materially expands eligibility relative to accredited-only platforms. Investors seeking their first real estate position or building diversified property portfolios benefit from mogul's accessible entry and direct ownership model. The platform enables portfolio building one property at a time, with full visibility into each investment property's performance.
Performance and Return Profiles
Both platforms report performance metrics, though the nature of returns differs based on investment structure and asset class.
CrowdStreet's performance data:
- Target returns vary by offering, asset class, sponsor, and structure
- Latest public realized marketplace track record of 11.2% realized IRR and 1.33x equity multiple as of January 24, 2025
- For real estate offerings, performance is tied to CRE market and property-level conditions; for non-CRE offerings, performance depends on the relevant private-market asset class and manager strategy
- Distributions are offering-specific and not guaranteed; where they occur, they may be monthly, quarterly, or annual depending on structure and cash flow
Note: As with private-market investments generally, returns vary by offering and structure, and past performance is not indicative of future results.
mogul's performance data:
- 18.8% average annual returns (IRR) across platform properties
- Target annual returns of 15-20% IRR across properties
- A focus on properties with a 12% minimum projected IRR hurdle
- Monthly yield distributions from actual rental income
- 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 has historically outperformed the S\&P 500 on an annual basis from 1993-2023 (13.8% IRR vs. 9.8% IRR), according to Federal Reserve and Case-Shiller Home Index data.
Technology and Transparency Approaches
CrowdStreet's technology:
- Web-optimized investor portal
- Quarterly reporting for investments
- Online account management
- Offering-specific legal documents; for private placements, issuers may file Form D notices with the SEC, though those offerings are generally exempt from Securities Act registration, while registered funds may have different SEC filings
- FINRA-registered broker-dealer compliance
mogul's technology infrastructure:
- Avalanche blockchain integration for ownership records
- Fireblocks enterprise custody for security
- Real-time property performance metrics
- Investment execution in under 30 seconds
- Monthly property valuations via third-party appraisal data
- Planned secondary market for share trading at fair market value calculated monthly through 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 also enables the planned secondary market for share trading, addressing the liquidity challenges inherent in real estate investing.
Property Selection and Due Diligence
CrowdStreet's vetting process:
- A multi-phase sponsor and deal review process, with CrowdStreet stating that only a small percentage of opportunities meet its criteria
- A nine-step sponsor due-diligence process
- Focus on institutional-quality offerings
- Individual deal evaluation based on sponsor track records
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.
CrowdStreet distributions:
- Distributions are offering-specific and not guaranteed; where they occur, they may be monthly, quarterly, or annual depending on structure and cash flow
- Distribution timing dependent on individual deal structure and sponsor
- Generally illiquid, with offering-specific hold periods (CRE sponsors often target three to five years, with target holds ranging from roughly two to fifteen years)
mogul distributions:
- Monthly rental income payments proportional to ownership stake
- Actual rental revenue (not projected estimates)
- Yearly tax benefits including depreciation deductions
- 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 less frequent distribution schedules.
Backing and Market Credibility
CrowdStreet's credentials:
- Founded 2013 with 10+ year operational history
- Has raised more than $4 billion across private real estate and other alternative investments
- 300,000+ registered members
mogul's credentials:
- Created by Goldman Sachs real estate alumni (former Goldman Sachs investment professionals and acquisitions experts)
- $3.6M seed round led by AY Ventures, with participation from Tim Draper & Associates and others; mogul states its investor base includes early backers of Robinhood, SpaceX, Tesla, and Skype
- Investors include Chris Larsen (Ripple co-founder), Rosa Rios (43rd U.S. Treasurer)
- Featured in TechCrunch, Forbes, Wired, Fortune, Axios, Business Insider, and Fox News
- $40M+ in assets, 65+ properties, and 13,000+ investors
Tim Draper said Draper Associates believes mogul's founding team is reshaping real estate investing and providing long-term wealth generation for users.
Why mogul Delivers Superior Value for Real Estate Investors
Investors seeking accessible entry into real estate face a clear choice between accredited-only private markets platforms and direct residential ownership open to everyone.
Key advantages of mogul's approach:
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Accessibility for all investors: No accreditation required, opening single-family rental ownership to a broad range of investors, while CrowdStreet's access is limited to accredited investors with minimums that vary by offering. Because CrowdStreet is limited to accredited investors, mogul's non-accredited access materially expands eligibility relative to accredited-only platforms.
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Direct ownership: Invest in specific properties via LLC structures rather than pooled funds. Know exactly which homes your capital supports, with full visibility into each property's performance metrics.
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Monthly income: Receive monthly distributions from actual rental revenue, enabling better cash flow management and faster reinvestment compared to CrowdStreet's offering-specific distributions, which may be monthly, quarterly, or annual and 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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Lower long-term costs: No recurring annual AUM or asset-management fee, with front-loaded fees, can create meaningful multi-year savings versus platforms charging 1%+ annual AUM fees.
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Institutional expertise: Goldman Sachs real estate alumni (former Goldman Sachs investment professionals and acquisitions experts) 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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Residential focus: Single-family rentals have historically returned 13.8% IRR vs the S\&P 500's 9.8% from 1993-2023, providing strong risk-adjusted returns in an asset class most investors understand.
For investors seeking headache-free fractional real estate with monthly income potential, institutional-grade property selection, and direct 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 accredited-only private markets structures cannot 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 main difference between mogul and CrowdStreet?
The fundamental difference lies in accessibility and asset class. mogul offers fractional ownership in residential single-family rentals open to all investors with no accreditation required, while CrowdStreet is an accredited-investor private markets platform that includes commercial real estate alongside private credit, private equity, venture capital, infrastructure, and multi-asset strategies, with minimums that vary by offering. mogul provides direct ownership in specific properties through LLC structures, monthly distributions, and blockchain-backed transparency. CrowdStreet connects accredited investors with private-market sponsors and funds, including office, industrial, multifamily, and retail real estate, with distributions that are offering-specific and not guaranteed and hold periods that vary by offering.
Do I need to be an accredited investor to use mogul or CrowdStreet?
No accreditation is required for mogul; the platform is open to all investors regardless of income or net worth. CrowdStreet requires accredited-investor status, commonly satisfied by income tests ($200,000+ annual income, or $300,000 with a spouse) or a net-worth test ($1 million+ excluding primary residence), though SEC rules also include certain professional-credential and entity-based pathways. Because CrowdStreet is limited to accredited investors, mogul's non-accredited access materially expands eligibility relative to accredited-only platforms; recent SEC estimates suggest roughly 18.5% of U.S. households qualified as accredited under financial criteria in 2022.
How does mogul's $10,000 loss protection work?
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. For example, if you invest $20,000 in each of 5 properties during your first 7 days, totaling $100,000, and that $100,000 declines to $90,000 after one year, mogul would true you up to your $100,000, covering the $10,000 loss from their own balance sheet capital. This unique risk mitigation feature is not offered by CrowdStreet or other major fractional real estate platforms.
What types of properties can I invest in with each platform?
mogul focuses on residential single-family rentals including short-term rentals (Airbnb-style), mid-term rentals (30+ days), and long-term rentals. CrowdStreet offers commercial real estate including office buildings, multifamily developments, industrial properties, and retail centers, and its current platform also lists broader private-market offerings such as private credit, private equity, venture capital, infrastructure, and multi-asset strategies. For investors seeking familiarity and stability, mogul's residential focus offers properties in an asset class most people understand from their own housing experience.
Can I sell my investment shares on either platform?
mogul states it is planning a secondary market for share trading enabled by its blockchain infrastructure on the Avalanche network, which would allow investors to sell shares at fair market value calculated monthly through third-party appraisal data. CrowdStreet private-market investments are generally illiquid, and transfer or redemption rights are offering-specific; for CRE deals, investors generally should expect limited or no liquidity before the sponsor's exit. mogul's blockchain foundation positions it to offer trading capabilities that address the liquidity challenges inherent in direct real estate ownership.
Are there any fees associated with investing through mogul or CrowdStreet?
mogul charges a 3% platform/onboarding fee plus a conditional 2% setup fee if the property requires rent-ready preparation (both capitalized into the deal), and an ongoing 2.5% fee on rental income, but no recurring annual AUM or asset-management fee. CrowdStreet does not charge investor account fees, but investors may bear offering-level and product-level costs, including sales loads, placement fees, servicing fees, management fees, performance fees, and other expenses depending on the investment. mogul's front-loaded fee structure with no recurring annual AUM charge can create meaningful multi-year savings compared to platforms charging 1%+ annual AUM fees.