Choosing a real estate investment platform means choosing an investment structure. mogul, Fundrise, and Groundfloor take three distinct approaches: property-specific fractional real estate, pooled private real estate funds, and real estate lending within a broader private-markets platform. mogul gives investors membership interests in property-specific LLCs that own identified single-family rentals, backed by institutional underwriting and professional property management. Fundrise primarily provides pooled fund exposure, while Groundfloor provides individual real estate Loans and Notes alongside other private-market offerings.
mogul stands out for investors who value transparent, asset-level ownership, monthly income potential, property-specific appreciation exposure, and institutional-quality underwriting within a streamlined digital experience.
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
Institutional real estate experience: mogul was founded by former Goldman Sachs real estate professionals with more than $10 billion of deal experience. The platform reports that less than 1% of reviewed properties pass its selection process. Learn more about mogul and how mogul works.
Reported platform performance: mogul reports an 18.8% average annual return across platform assets, described in its platform materials as an average annual IRR across properties. Its About page dates the 18.8% figure to June 1, 2026. Fundrise reported 6.24% advisory-client returns for 2025 and 5.75% for 2024. Groundfloor reports 10.79% realized annualized returns for its three-year lookback and 8.29% for its five-year lookback, based on defined populations of resolved loans. These figures use different methodologies, investment structures, and measurement periods, so they are contextual rather than directly comparable.
Monthly income potential: mogul is designed to generate monthly income from rental operations once a property is operating and has distributable cash flow. Fundrise-managed real estate funds generally use quarterly distribution schedules, while Groundfloor payment timing depends on the Loan or Note structure.
First-year loss protection: mogul offers up to $10,000 of first-year loss protection for new members on investments made during the member's first seven days. If the total return on those qualifying investments is down after one year, mogul states that it will cover losses up to $10,000 with its own balance sheet capital, subject to the applicable promotion terms.
Asset-level ownership: mogul investors acquire proportional membership interests in property-specific LLCs that own identified homes. Fundrise investors generally own interests in pooled funds, while Groundfloor's individual Loans and Notes are debt investments rather than property equity.
Technology-enabled ownership: mogul uses blockchain infrastructure to support verifiable ownership records and more efficient real estate administration. Its technology is designed to complement institutional underwriting rather than change the underlying real estate economics. Learn more about blockchain in real estate.
Fundrise disclosed approximately $3.4 billion in AUM and more than 404,000 active investor accounts as of June 30, 2026 in an SEC filing. Groundfloor states that it has originated approximately $2.2 billion in real estate loans and serves more than 300,000 investors. Against those larger-platform models, mogul differentiates itself through property-specific LLC ownership, institutional real estate expertise, monthly income potential, and direct participation in property-level appreciation.
Understanding Each Platform's Core Positioning
Fundrise is a large direct-to-consumer private-markets investment platform. Its real estate offering primarily uses pooled funds, including interval funds and eREIT structures. Its Flagship Fund includes more than 4,700 single-family rental homes as well as multifamily and industrial assets. Investors generally receive diversified exposure through a fund rather than choosing each underlying property individually.
Groundfloor is a private-markets platform with a major focus on real estate credit. Its individual Loans finance residential renovation, rehabilitation, and new-construction projects. Investors can select individual Loans, and Groundfloor also offers Notes and other private-market products. Individual Loans commonly carry stated terms of approximately 6 to 18 months.
mogul takes an asset-level approach. Founded by former Goldman Sachs real estate professionals with more than $10 billion of combined deal experience, mogul focuses on income-producing residential properties. Investors acquire proportional membership interests in property-specific LLCs that own identified homes rather than receiving only pooled fund exposure or lending to a borrower. mogul's primary operating strategies include short-term rentals and mid-term rentals within the broader single-family rental asset class. Mid-term rentals are positioned around workforce and flexible-housing demand, while broader platform materials also describe long-term residential rentals with stable tenant relationships as part of the available residential strategy set.
The structural distinction is straightforward: mogul offers property-specific LLC interests, Fundrise primarily offers pooled fund interests, and Groundfloor primarily offers real estate credit investments through Loans and Notes.
Investment Structures Reflect Different Philosophies
Fundrise Investment Structure
Fundrise generally offers:
Pooled real estate funds, including interval funds and eREITs
Automated investment plans that can allocate capital across one or more funds
Exposure to single-family and build-to-rent housing, multifamily properties, industrial assets, and other real estate strategies
Fund-level diversification without routine selection of each underlying property
Taxable accounts and IRA compatibility
This model is designed for investors who prefer portfolio-level diversification and centralized fund management.
Groundfloor Investment Structure
Groundfloor generally offers:
Investor-selected individual real estate Loans
A through G risk grades for individual Loans
Common stated Loan terms of approximately 6 to 18 months
Notes with product-specific terms and payment schedules
Additional private-market offerings beyond individual real estate Loans
Groundfloor's Flywheel product stopped accepting new investments and automatic reinvestments on July 7, 2026. Existing holdings continue through the repayment process while Groundfloor develops its next real estate credit portfolio product.
mogul Investment Structure
mogul focuses on:
Short-term rentals, generally involving stays under 30 days
Mid-term rentals, generally involving stays longer than 30 days and shorter than one year
Long-term residential rentals within the broader single-family rental strategy set
Membership interests in property-specific LLCs that own individual property listings
Property-level economics, including rental cash flow and potential appreciation
Potential property-level tax allocations, subject to the offering structure and each investor's circumstances
mogul's model lets members evaluate a specific property and its underwriting before making an investment decision. Property materials can include operating assumptions, market data, revenue and expense inputs, financing structure, and scenario-based analysis. mogul also provides a free investment property calculator for analyzing U.S. residential properties.
Pricing Structures and Fee Models
Fee structures differ because the three platforms provide different products.
Fundrise Pricing
Fundrise currently describes:
A $10 minimum for taxable accounts
A $1,000 minimum for IRA accounts
A 0.15% annual advisory fee
A 0.85% annual management fee for its real estate funds
Different fee schedules for certain non-real-estate products
For a standard Fundrise real estate plan, the advisory and real estate fund management fees total approximately 1.00% annually before considering any fund-specific expenses described in offering materials.
Groundfloor Pricing
Groundfloor currently describes:
Individual Loan minimums starting at $10
Note minimums that vary by product, commonly from $100 to $1,000
No direct investor fees for individual Loans or Notes
Different terms and fee structures for certain accredited or alternative products
Groundfloor earns revenue through its lending and product structures, including borrower-side economics on real estate Loans.
mogul Pricing
mogul's pricing structure includes:
Average investments of roughly $10,000
A typical portfolio allocation of $17,321 per property, with individual property entry points that can be lower than the typical allocation
A capitalized one-time fee of up to 5%, with detailed platform materials describing a 3% platform or onboarding fee plus a potential 2% setup fee when additional property setup is required
A 2.5% ongoing fee on collected rental income
No traditional recurring AUM-based platform fee
mogul coordinates property management as part of the investment structure, while applicable property operating expenses, including third-party management costs, may be borne at the property level
Because these fee models use different bases, a simple five-year dollar comparison can be misleading. Fundrise primarily charges recurring percentages based on invested value, Groundfloor's individual Loans and Notes currently do not charge direct investor fees, and mogul combines a capitalized upfront fee with a fee on collected rental income rather than a traditional recurring AUM fee. For mogul, rental income, occupancy, the applicable setup fee, property-level costs, and performance affect the fee base, so a reliable five-year dollar cost cannot be derived from headline percentages alone.
For long-duration real estate ownership, mogul's fee structure can be especially compelling because it is tied more closely to onboarding and rental operations than to a recurring platform-level percentage of asset value. Because mogul does not charge a traditional recurring AUM-based fee, its structure can reduce one source of recurring fee drag over multi-year holds.
Target Investors and Portfolio Objectives
Fundrise May Appeal to Investors Seeking
Automated portfolio allocation
Diversified fund-level exposure
A low taxable-account minimum
A long-term private real estate allocation without selecting individual properties
Groundfloor May Appeal to Investors Seeking
Individual real estate credit selection
Shorter stated investment terms than traditional property ownership
Fixed-income-style exposure through Notes
A lending-based approach rather than direct property-equity exposure
mogul May Appeal to Investors Seeking
A first entry point into real estate investing
Tools for evaluating an existing property portfolio
Institutional-quality underwriting and property-level equity exposure
Technology-enabled ownership and blockchain transparency
Property-specific ownership through LLC interests
Monthly income potential from rental operations
Exposure to property appreciation
Transparent asset-level performance
A professionally managed approach to building a portfolio
The distinction is fundamental. Investors who want to know which specific homes their capital supports, while retaining participation in rental economics and potential appreciation, receive a different type of exposure through mogul than through pooled funds or real estate debt instruments.
Performance and Return Profiles
Performance figures should be interpreted in the context of each platform's investment structure.
Fundrise Performance Context
Fundrise reported:
5.75% advisory-client return in 2024
6.24% advisory-client return in 2025
For the 12 months ended June 30, 2026, income yields of 7.66% for its Income objective, 2.25% for Growth, and 1.76% for Balanced
Fundrise's published advisory-client returns are portfolio-level measures and are not the same as an individual fund IRR.
Groundfloor Performance Context
Groundfloor reports:
10.79% realized annualized return for its three-year lookback
8.29% realized annualized return for its five-year lookback
A realized loss ratio below 1% for a defined population of loans originated from 2022 through 2024 and resolved as of February 2025
A broader A through G Loan grading scale with annual rates ranging from 5.5% to 25.5%
These performance statistics describe resolved loan populations and should not be interpreted as the return on a single three-year or five-year Loan. Individual Groundfloor Loans commonly have stated terms of 6 to 18 months.
mogul Performance Context
mogul reports:
18.8% average annual return across platform assets, described in platform materials as an average annual IRR across properties and dated to June 1, 2026
Approximately 90% of investors invest a second time
Follow-on investments from repeat investors are approximately three times the initial investment
As of June 1, 2026, $90 million or more of assets invested through the platform
More than 40,000 investors on the platform
mogul also cites historical single-family rental data showing a 13.8% IRR for SFRs versus 9.8% for the S\&P 500 over 1993 through 2023, based on NAREIT, U.S. Federal Reserve, Case-Shiller Home Index, and Bloomberg data. Historical platform and asset-class results do not promise future outcomes.
The main comparison is structural rather than purely numerical. Fundrise publishes advisory-client returns, Groundfloor publishes realized annualized returns on defined resolved-loan populations, and mogul reports average annual returns across platform assets. mogul's reported 18.8% average annual return is particularly notable because it is paired with property-specific equity exposure and monthly rental income potential.
Technology and Transparency Approaches
Fundrise Technology
Fundrise uses proprietary technology for portfolio management and asset operations, supported by web and mobile investor experiences. Net asset value update frequency and liquidity processes vary across its funds. Its broader private-markets platform also includes non-real-estate strategies.
Groundfloor Technology
Groundfloor provides digital Loan selection, risk grades, account management, and product-specific portfolio tools. Its technology is built around real estate credit origination and investor access to Loans, Notes, and other private-market products.
mogul Technology
mogul's technology infrastructure includes:
Avalanche blockchain infrastructure for permanent, verifiable ownership records designed to remain independently verifiable
Fireblocks digital-wallet and security infrastructure
Real-time property performance data
A streamlined digital investment process that mogul describes as executable in less than 30 seconds
Monthly property valuation processes using third-party appraisal-level data
Asset-level investor records designed to make ownership administration more efficient
Infrastructure intended to support a planned secondary trading market that mogul describes as coming soon
mogul's technology is most valuable because it supports the real estate investment process rather than replacing it. The underlying value proposition remains professionally vetted residential real estate, institutional underwriting, monthly income potential, and property-level appreciation exposure.
mogul also offers free analytical tools, including a rental property calculator, Airbnb calculator, real estate calculator, and investment property calculator. The tools analyze U.S. addresses using institutional-grade data and can model rental income, ROI, IRR, cash-on-cash yield, financing assumptions, and multiple operating scenarios.
Property Selection and Due Diligence
Fundrise Selection Approach
Fundrise's investment team identifies, acquires, and manages opportunities within pooled funds. Investors receive diversification across the assets held by the relevant fund rather than routinely selecting each underlying property.
Groundfloor Loan Evaluation
Groundfloor underwrites real estate Loans on a property-by-property basis and assigns risk grades using its internal framework. Investors can select individual Loans based on the available Loan information and stated terms.
mogul Selection Methodology
mogul's selection process emphasizes:
Less than 1% of reviewed properties passing diligence
Institutional analysis led by former Goldman Sachs real estate professionals
Market selection based on supply constraints, demand drivers, and price-to-rent dislocation
Preference for operational properties with limited stabilization requirements
Off-market and pre-market sourcing relationships
Underwriting that can combine automated valuation models with comparative market analyses
Research analysis focused on identifying property-level upside potential
Professional property management with local operating teams
Capital reserves and insurance as part of property-level risk management
The company overview describes a target acquisition buy box of approximately $500,000 to $2 million, a focus on high-growth secondary markets, and opportunities acquired at approximately 8% to 10% below market value when available through programmatic relationships. mogul's property selection process is designed to bring institutional real estate discipline to individual investors.
Distribution Frequency and Cash Flow
Fundrise Distributions
Fundrise-managed real estate funds generally distribute on a quarterly schedule, although distribution policies vary by fund. Returns can include both cash distributions and changes in net asset value.
Groundfloor Payments
Groundfloor's payment timing depends on the product. Individual Loans generally repay when the underlying borrower repays. Some Notes provide monthly interest payments, while other products pay at maturity or follow their own stated schedules.
mogul Distributions
mogul is structured around monthly rental income. Once a property is operational and produces distributable net rental income, investors can receive their proportional share after applicable property expenses, fees, and reserves. Distributions reflect actual distributable property cash flow rather than projected revenue, and amounts vary with property performance. This creates up to 12 potential distribution events per year when distributions are available, which can provide more frequent reinvestment opportunities and support potential compounding when distributions are made.
The property-specific LLC structure can also allocate depreciation and other property-level tax items through Schedule K-1, depending on the offering and the investor's circumstances. mogul describes an expected property holding horizon of approximately 3 to 10 years, with monthly income potential during the operating period and proportional participation in eventual sale proceeds. Learn more about real estate depreciation.
This combination of monthly income potential and property-level appreciation is one of mogul's central differentiators from pooled fund structures and debt-only real estate products.
Backing and Market Credibility
Fundrise Credentials
Fundrise launched its first online real estate offering in 2012. As of June 30, 2026, it reported approximately $3.4 billion in AUM and more than 404,000 active investor accounts in its SEC filing. Its Innovation Fund listed on the New York Stock Exchange under the ticker VCX in March 2026, reflecting the platform's expansion beyond real estate.
Groundfloor Credentials
Groundfloor was organized in 2013, as reflected in an SEC filing. The company states that it has originated approximately $2.2 billion in real estate loans and serves more than 300,000 investors. Groundfloor also states that its Notes program has paid principal and contracted interest in full since the program began in 2018.
mogul Credentials
mogul's credentials include:
Founders with backgrounds in Goldman Sachs real estate investing and investment banking
More than $10 billion of combined deal experience
Joey Gumataotao's experience helping build Goldman Sachs' single-family rental platform from zero to more than $1 billion of AUM in approximately 12 months with a small team
A $3.6 million seed funding round led by Anitha Vadavatha of AY Ventures, with participation from Tim Draper & Associates and other investors
Tim Draper led mogul's earlier pre-seed round
Advisors and investors including Chris Larsen, Ripple co-founder and executive chairman, and Rosa Rios, the 43rd Treasurer of the United States
$90 million or more of assets invested through the platform
More than 40,000 investors
An 18.8% reported average annual return across platform assets
mogul has also been featured in outlets including TechCrunch, Forbes, Wired, Fortune, Axios, Bloomberg, Business Insider, Morningstar, and MarketWatch. Tim Draper stated, "We fully believe in how mogul's founding team is reshaping the real estate investment space and providing long-term wealth generation for its users." The combination of institutional real estate experience, technology infrastructure, and asset-level ownership gives mogul a differentiated position among real estate investing platforms.
User Experience and Platform Design
The three platforms are built around different user experiences because they provide different investment products. Fundrise emphasizes automated portfolio construction and fund-level diversification. Groundfloor emphasizes digital access to real estate credit and investor-selected Loans. mogul emphasizes property-specific transparency, digital execution, and ongoing visibility into the operating performance of the homes investors select.
For investors who want to understand the specific property behind an investment, mogul's asset-level approach provides a direct connection between the property, the operating strategy, the LLC interest, and the investor's share of economic performance.
Why mogul Delivers Superior Value for Real Estate Investors
mogul combines attributes that are usually separated across traditional real estate ownership, pooled funds, and real estate lending platforms. Members receive property-specific LLC interests in identified residential assets while mogul coordinates institutional underwriting, financing, property management, reporting, and technology infrastructure.
Key Advantages of mogul's Model
Property-specific LLC ownership: Members invest in LLCs that own specific residential properties rather than receiving only fund-level exposure or debt claims. Investors can view available property listings and follow the performance of the assets they select.
Reported platform performance: mogul reports an 18.8% average annual return across platform assets. That figure is measured differently from Fundrise advisory-client returns and Groundfloor resolved-loan returns, so the structural context remains important.
Monthly income potential: Rental operations can support monthly distributions once a property is operational and has distributable cash flow.
Property appreciation exposure: LLC equity gives investors proportional participation in potential property appreciation and eventual sale proceeds.
First-year loss protection: New members can receive up to $10,000 of first-year loss protection on qualifying investments made during their first seven days, subject to the applicable promotion terms.
Property-level tax characteristics: The LLC structure can provide K-1 allocations that may include depreciation and other real estate tax items, depending on the offering and investor circumstances.
Institutional expertise: Former Goldman Sachs real estate professionals lead underwriting and property selection, bringing more than $10 billion of deal experience to the platform.
Blockchain-enabled records: mogul uses blockchain infrastructure to support verifiable ownership records and efficient administration.
Aligned capital: mogul states that company or founder capital is invested alongside members in every property offered on the platform.
Selective sourcing: Less than 1% of reviewed properties pass mogul's diligence process, reflecting a highly selective acquisition approach.
For investors seeking headache-free real estate investing with monthly income potential, property-level transparency, institutional underwriting, and participation in long-term residential appreciation, mogul offers a differentiated combination of access and asset-level ownership. Its model is built by real estate investors for real estate investors and is designed to make a historically important wealth-building asset class more accessible without removing the property-level economics that make real estate distinctive.
Explore how the platform works through how mogul works, review current property listings, use the free real estate calculator, or schedule a call to learn more about the platform.
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 core difference between mogul, Fundrise, and Groundfloor?
mogul investors acquire proportional membership interests in property-specific LLCs that own identified residential properties. Fundrise investors generally own interests in pooled funds that hold diversified portfolios of real estate assets. Groundfloor's individual Loans and Notes are debt investments. For investors who want property-specific equity exposure, mogul most closely preserves the economics of owning identified rental real estate without requiring individual deed ownership or day-to-day property management.
How does mogul's ownership structure compare with Fundrise?
mogul's LLC structure gives investors proportional interests in entities that own identified properties. That structure provides asset-level economic exposure, potential appreciation, governance rights defined by the applicable documents, and potential K-1 tax allocations. Fundrise primarily uses pooled funds, so investors generally receive exposure to a broader portfolio rather than selecting each underlying real estate asset. mogul's structure therefore provides greater property-specific transparency and a closer connection between the selected asset and the investor's economic interest.
How do reported returns compare?
mogul reports an 18.8% average annual return across platform assets. Fundrise reported advisory-client returns of 5.75% in 2024 and 6.24% in 2025. Groundfloor reports realized annualized returns of 10.79% for its three-year lookback and 8.29% for its five-year lookback on defined populations of resolved loans. These are different performance measures, so they should be read as platform-specific statistics rather than one standardized ranking. Historical results do not promise future outcomes. General real estate investing also involves market, operating, financing, and timing risks. mogul addresses these factors through institutional underwriting, professional property management, property-level reserves, insurance, and a selective acquisition process. Additional educational context is available in mogul's guide to real estate investing risks.
How does mogul's first $10,000 protection work?
For new members, mogul's promotion covers up to $10,000 of losses on investments made during the member's first seven days. If the total return on those qualifying investments is down after the first year, mogul states that it will true up losses up to $10,000 using its own balance sheet capital. The promotion is governed by the applicable promotion terms.
Are mogul's investment calculators free to use?
Yes. mogul provides four free real estate analysis tools, including the investment property calculator, rental property calculator, Airbnb calculator, and real estate calculator. The calculators are accessible without account creation and are designed to help users evaluate U.S. residential property economics using institutional-grade data. Users can adjust hold periods, loan terms, leverage ratios, interest rates, rental assumptions, and other inputs while reviewing cash flow, ROI, IRR, cash-on-cash yield, and multiple scenarios. mogul states that these calculators use the same data and tools employed by top real estate firms. mogul also offers free professional underwriting for submitted properties with no purchase obligation.
Does mogul invest alongside members?
Yes. mogul states that company or founder capital is invested alongside members in every property offered on the platform. This creates direct economic alignment at the property level because mogul capital participates in the same underlying asset performance.