Choosing a fractional real estate platform starts with understanding how each platform structures ownership, selects assets, distributes income, charges fees, and supports investor access.
mogul is a fractional real estate platform club founded by former Goldman Sachs executives. It focuses on income producing single family rentals, including mid term and short term strategies, and gives members property specific economic exposure through fractional LLC membership interests tied to identifiable residential assets. Investors can review specific properties, underwriting assumptions, market information, and applicable legal documents before making their own investment decisions.
Fundrise primarily gives investors pooled exposure through funds that hold underlying real estate and other alternative assets. Landa historically offered property specific fractional interests. As of September 2026, Landa states that it has no active offerings and that deposits and secondary trading are temporarily paused. These three models illustrate the difference between property specific access, pooled fund exposure, and a platform that is not currently accepting new investment activity.
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 reports an 18.8% average annual return, described in company materials as an average annual IRR across properties. The company overview also reports approximately 10% average cash on cash yield annualized to date.
mogul offers qualifying new members first year loss protection of up to $10,000 on investments made during their first 7 days. If the total return on those qualifying investments is down after one year, mogul covers losses up to $10,000 using its own balance sheet capital, subject to the promotion terms.
mogul is built around property specific selection. Members can choose identifiable residential properties and review asset level underwriting rather than receiving only pooled exposure.
mogul generally distributes available property cash flow monthly once an operational property has distributable net rental income. Fundrise states that its goal is to issue distributions following the end of each quarter for applicable funds.
mogul states that approximately 12 months of operating reserves are capitalized per asset, including future maintenance, vacancies, insurance payments, and closing costs. mogul's homepage separately describes capitalized reserves as representing roughly 8 to 12 months of complete vacancy.
Fundrise uses a pooled fund model. It reports approximately $3.4 billion in equity AUM as of June 30, 2026 in an SEC filing, and its real estate investors generally hold shares of funds rather than selecting individual underlying properties.
Landa is not currently offering new investments. Its current platform disclosure states that there are no active offerings and that deposits and secondary trading are temporarily paused while the company works toward resuming platform activity.
How the Platforms Differ
mogul's approach
Property specific economic exposure through fractional LLC membership interests tied to identifiable residential assets
Focus on professionally vetted and managed single family rentals
Mid term and short term rental operating strategies
Monthly distributions when operational properties generate distributable net rental income
Asset level underwriting and scenario analysis
Approximately 12 months of operating reserves per asset
Former Goldman Sachs real estate professionals with more than $10 billion of collective deal experience
Ownership information recorded on Avalanche as an additional verifiable record alongside conventional LLC, operating agreement, offering, and property title documentation
A digital first process designed to make real estate investing more accessible and headache free
Fundrise's approach
Pooled investment through real estate funds and other private market products
Diversification across multiple underlying assets within a fund
Fund level rather than individual property selection
Stated goal of issuing distributions following the end of each quarter for applicable funds
Operating history dating to 2012
Approximately $3.4 billion in equity AUM as of June 30, 2026, according to an SEC filing
Landa's current status
Historically used a property specific fractional investment model
Current platform materials state there are no active offerings
Deposits and secondary trading are temporarily paused as of September 2026
The company states that it is working to resume investing and trading activity
Investment Structures: Property Specific LLC Interests vs. Pooled Funds
mogul's property specific model
mogul's model is designed around identifiable residential assets. A property buying LLC holds the home, while investors purchase membership interests in an associated property specific investment club LLC rather than receiving individually deeded title to a fraction of the home.
Members can select specific real estate investments by address and review the underwriting behind each opportunity. The structure can provide:
Governance rights based on the applicable operating agreement and ownership percentage
Monthly distributions when an operational property has distributable net rental income, with cash available for distribution reflecting actual property performance after operating expenses, debt service, capital expenditures, fees, and reserves
Property specific tax reporting that may allocate depreciation and other real estate tax items through Schedule K-1, depending on the offering and investor circumstances
Proportional participation in applicable property exit proceeds under the governing terms
Asset level visibility into the residential property tied to the investment
This model gives investors a level of property selection and transparency that is distinct from pooled real estate funds.
Fundrise's pooled model
Fundrise investors purchase shares of funds that hold the underlying investments. For real estate exposure, the current lineup includes products such as the Flagship Real Estate Fund, Income Real Estate Fund, and eREIT offerings.
The pooled structure provides:
Diversification across multiple underlying assets
A $10 minimum initial investment for taxable accounts and a $1,000 minimum for IRAs
Stated goal of issuing distributions following the end of each quarter for applicable funds
The ability to choose among available funds
No direct selection of an individual underlying property
Fundrise's model is designed around portfolio level allocation rather than property by property selection.
Landa's property specific model
Landa also historically organized investments around individual property series. Because its current marketplace is paused, this comparison uses Landa primarily to illustrate a different property specific structure rather than a currently available new investment option.
Returns and Performance
mogul's reported performance
mogul reports an 18.8% average annual return, described in company materials as an average annual IRR across properties. The company overview also reports approximately 10% average cash on cash yield annualized to date. mogul reports that 90% of investors invest again and that follow on investments are about three times the initial investment. Actual results vary by property, occupancy, operating expenses, financing, regulation, market conditions, and the execution of the business plan.
mogul focuses on mid term and short term single family rental strategies, with underwriting centered on property level rental income, operating performance, financing, and long term appreciation.
mogul's strategy combines monthly rental income potential with long term property appreciation. Its investment property calculator provides a way to explore the economics of residential real estate assumptions.
Fundrise's reported performance
Fundrise reports a 6.24% annual return for Fundrise Advisors advisory client accounts in 2025. Its published methodology describes that figure as weighted average aggregate performance across advisory client accounts for the period. That measure is not the same as mogul's reported property level average annual IRR.
Fundrise's published advisory client account returns include:
2025: 6.24%
2024: 5.75%
2023: negative 7.45%
2022: 1.50%
2021: 22.99%
2020: 7.31%
2019: 9.16%
2018: 8.81%
In a June 30, 2026 SEC filing, Fundrise also reported that the Flagship Fund delivered a net return of approximately 6% during the first half of 2026. These figures use different time periods and reporting frameworks, so they should be read as separate performance measures rather than a direct spread against mogul's 18.8% reported average annual return.
Landa's current investment activity
Landa is not currently presenting active offerings. Its current platform materials state that deposits and secondary trading are temporarily paused. Because new marketplace activity is paused, current return comparisons are less directly applicable than they are for active platforms.
Fee Structures and Long Term Costs
mogul's fee structure
mogul's current fee structure is designed without a traditional recurring AUM based management fee on invested equity. Existing company materials describe an upfront platform and setup structure that can total up to 5% of the property purchase price, with those costs capitalized into the transaction.
Key points include:
Up to 5% of the property purchase price, consisting of a 3% platform component plus a possible additional 2% setup component where applicable, with both capitalized into the transaction
No traditional recurring AUM based management fee on invested equity
Professional property management coordinated by mogul, with applicable property management and operating costs reflected in the applicable property economics
Fee impact evaluated at the asset level rather than through a single recurring portfolio management charge
The absence of a traditional recurring AUM charge removes that specific source of annual fee drag. Total costs still depend on the property, transaction structure, operating expenses, and governing offering terms.
Fundrise's real estate fund fees
Fundrise currently states that its real estate funds generally include a 0.15% annual advisory fee and a 0.85% annual real estate fund management fee. Together, those charges equal 1% annually for the applicable real estate fund structure before considering other product specific costs or fund level expenses.
On a purely illustrative constant $50,000 fee bearing balance, a 1% annual fee equals $500 per year and $2,500 over five years. Actual fees vary with account value, allocations, contributions, withdrawals, and product selection.
Landa's historical fee model
Landa historically used an acquisition fee and property management fee model tied to its individual property offerings. Since there are no active offerings at present, those historical terms are not a current new investment option.
Property Selection and Underwriting
mogul's institutional style process
mogul's founders bring Goldman Sachs real estate investing and investment banking experience and more than $10 billion in collective deal experience. The platform applies institutional style underwriting to single family rental opportunities.
Its process includes:
A stated screening process in which less than 1% of reviewed properties pass screening
Market and submarket analysis
Property inspections and operating review
Bear, base, and bull scenario underwriting
Investment committee review
Preference for supply constrained markets with identifiable demand drivers
A focus on high growth secondary markets with price to rent dislocation
Targeting off market and pre market opportunities where the platform can source attractive basis relative to market value
Approximately 12 months of operating reserves per asset
mogul states that it invests its own capital in every property offered, aligning its economics with members. mogul's homepage separately states that capitalized reserves represent roughly 8 to 12 months of complete vacancy. The platform's free rental property calculator and Airbnb calculator also reflect its data driven approach to residential underwriting. mogul states that its calculators use data and analytical methods comparable to those used by professional real estate firms.
Fundrise's fund level selection process
Fundrise investments are made at the fund level rather than the individual property level. Investors can choose among available funds, while Fundrise's internal team evaluates underlying opportunities and assembles diversified portfolios across its chosen strategies and asset types.
That model is suited to investors who prefer pooled diversification and centralized portfolio construction rather than direct selection of individual residential properties.
Landa's model
Landa historically offered property specific investments. Its current marketplace pause means there are no active offerings to compare with mogul's current property pipeline or Fundrise's current fund lineup.
Liquidity and Exit Frameworks
Real estate is generally a long duration asset class, so each platform approaches liquidity differently.
mogul's approach
mogul describes a broad 3 to 10 year ownership horizon, with approximately 5 to 7 years typical for many investments. Its model includes:
Monthly distributions when distributable property income is available
Monthly property valuations using third party appraisal level data
Property sale, refinance, private sale, bulk sale, and platform based transfer pathways considered within the broader asset management framework
Blockchain infrastructure that can support efficient ownership recordkeeping and future transfer functionality
A secondary market feature is planned and described as forthcoming, but is not currently presented as an available liquidity mechanism
This structure is centered on maximizing property level value over the investment lifecycle rather than replicating daily public market liquidity.
Fundrise's approach
Fundrise generally reviews liquidation requests for most funds on a quarterly basis. The Flagship and Income Funds are structured without a liquidation penalty, while certain eREIT shares held for shorter periods may be subject to a penalty. Fundrise investments are designed as long term holdings, and liquidation programs are subject to the terms of each fund.
Landa's current status
Landa currently states that secondary trading and deposits are temporarily paused. Current liquidity therefore depends on the status of the applicable series and any property level transaction affecting that series.
Technology and Transparency
mogul's blockchain backed infrastructure
mogul uses blockchain technology on Avalanche as an additional recordkeeping layer alongside conventional legal and property documentation. The platform describes this technology as a way to improve back office efficiency, lower operating friction, and make ownership records independently verifiable.
Current features and infrastructure include:
Ownership information recorded on Avalanche as an additional verifiable record
Property level performance information through the platform
A streamlined digital investment process, with investment execution described as approximately 30 seconds or less once applicable identity verification, funding, and eligibility requirements are satisfied
Fireblocks digital wallet and security infrastructure
Technology designed to support efficient ownership recordkeeping and future platform based transfers
The blockchain real estate infrastructure supplements the governing LLC, operating agreement, offering document, and property title records. It does not replace those legal records.
Fundrise's platform
Fundrise provides a web and mobile investment experience, fund level reporting, portfolio holdings information, and automated distribution reinvestment features. Fundrise has operated since 2012.
Landa's platform
Landa historically provided a digital marketplace for property specific investments. Its current site states that deposits and secondary trading remain temporarily paused while the company works toward resuming platform activity.
Investor Protection and Risk Management
mogul's differentiated protection features
mogul offers first year loss protection of up to $10,000 for qualifying new members on investments made during their first 7 days. If the combined total return on those qualifying investments is down after one year, mogul covers losses up to $10,000 using its own balance sheet capital, subject to the promotion terms.
Additional structural and operating features include:
Approximately 12 months of operating reserves per asset
Capitalized reserves for future maintenance, vacancies, insurance payments, and closing costs
Property and business interruption insurance
Property specific LLC structures designed to create asset level structural separation, subject to governing documents and applicable law
mogul co investment in every property offered, according to company materials
Institutional style underwriting and investment committee review
Supplemental blockchain based ownership records
These features create a differentiated risk management framework around each property while preserving property specific residential real estate exposure.
Fundrise's approach
Fundrise manages risk primarily through diversified fund construction, centralized underwriting, and portfolio level allocation across multiple investments. Its scale and operating history are also relevant features of its pooled model.
Landa's approach
Landa historically used property specific series structures. Its current marketplace pause means its present investor experience is centered on existing holdings and series level activity rather than new offerings.
Why mogul Stands Out for Fractional Real Estate Investors
mogul combines property specific selection, institutional real estate experience, professional management, monthly income potential, asset level transparency, and first year qualifying loss protection in one platform.
Institutional style underwriting with direct asset visibility
mogul members can review specific residential assets rather than receiving only pooled exposure. The platform's founders bring Goldman Sachs real estate experience and more than $10 billion in collective deal experience, while the underwriting process evaluates market fundamentals, operations, financing, downside scenarios, and exit pathways at the property level. mogul reports an average investment of approximately $10,000 and, separately, a typical portfolio allocation of $17,321 per property.
A differentiated return profile
mogul reports an 18.8% average annual return, described in company materials as an average annual IRR across properties. Fundrise reports a 6.24% return for advisory client accounts in 2025, but the two figures use different methodologies and time periods and should not be treated as directly equivalent.
mogul's return model is built around rental cash flow, operating execution, financing, and long term appreciation at the individual property level.
Monthly income cadence
Once a mogul property is operational and generates distributable net rental income, mogul generally makes proportional distributions monthly. Fundrise states that its goal is to issue distributions following the end of each quarter for applicable funds. mogul's monthly cadence can create more frequent reinvestment opportunities. Any compounding benefit depends on whether distributions are reinvested and on subsequent investment performance.
First year loss protection for qualifying new members
The up to $10,000 first year loss protection is a distinctive feature of mogul's new member experience. For qualifying investments made within the first 7 days, mogul covers first year losses up to $10,000 with its own balance sheet capital, subject to the applicable promotion terms.
Property level transparency
mogul allows members to select specific property listings and review underwriting assumptions, market information, and applicable legal documents. This asset level visibility is a core distinction from pooled real estate fund models.
For investors whose priorities are property specific selection, institutional style underwriting, monthly income potential, professionally managed single family rentals, and a defined qualifying first year protection feature, mogul presents the most complete combination of those features in this comparison.
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 Landa's current status?
As of September 2026, Landa states that there are no active offerings on its platform and that deposits and secondary trading are temporarily paused. A 2025 SEC filing disclosed a service provider disruption affecting platform access, and subsequent SEC filings document series specific transactions in 2026. The status of any historical Landa investment depends on its specific property series and governing documents.
How does mogul's first year loss protection work?
For qualifying new members, mogul covers up to $10,000 in first year losses on investments made during the member's first 7 days. If the combined total return on those qualifying investments is down after one year, mogul uses its own balance sheet capital to cover losses up to $10,000, subject to the promotion terms.
What is the main difference between mogul and Fundrise?
mogul emphasizes property specific economic exposure through fractional LLC membership interests tied to identifiable residential properties. Members can select specific addresses and review asset level underwriting. Fundrise uses a pooled fund model in which investors buy shares of funds that hold multiple underlying assets and do not select individual properties.
How do mogul and Fundrise differ for newer investors?
Fundrise uses a low minimum pooled fund model that automatically spreads exposure across underlying assets. mogul emphasizes direct property selection, detailed underwriting, monthly income potential, and qualifying first year loss protection of up to $10,000. The structural difference is primarily pooled diversification versus property specific transparency and control over asset selection.
How do reported returns compare?
mogul reports an 18.8% average annual return, described in company materials as an average annual IRR across properties. Fundrise reports a 6.24% annual return for advisory client accounts in 2025 and approximately 6% net return for its Flagship Fund during the first half of 2026 in a June SEC filing. The figures are not methodologically identical. mogul's reported figure is property based and expressed as an average annual IRR, while Fundrise's 2025 number is an advisory client account measure and the 2026 Flagship figure covers a six month period. Each should be read within its own methodology and time frame.
Does mogul offer property selection?
Yes. mogul members can browse specific properties, review asset level underwriting, and choose which opportunities fit their own objectives. The platform's how it works materials explain the investment process and property review framework.
What type of real estate does mogul focus on?
mogul focuses on income producing residential properties, primarily single family rentals operated through mid term and short term strategies. Its target buy box includes high growth secondary markets, price to rent dislocation, and opportunities where operational execution can support rental income and long term appreciation.