You do not need to qualify as an accredited investor to get exposure to income-producing real estate. Many private securities offerings are limited to accredited investors, and under current SEC financial criteria, an individual generally qualifies with net worth exceeding $1 million, excluding a primary residence, or qualifying annual income above $200,000 individually or $300,000 jointly with a spouse or spousal equivalent. Those rules restrict participation in certain offerings, particularly Rule 506(c) offerings. They do not prevent anyone from buying real estate directly or from participating in every private real estate transaction. Meanwhile, fractional real estate investing has given everyday investors a route into professionally vetted and managed residential property.
This guide examines seven platforms that non-accredited investors should know in 2026, starting with mogul, a fractional real estate platform club founded by former Goldman Sachs executives that applies institutional-grade underwriting to property-specific ownership structures.
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
Fractional structures lower capital barriers: Several platforms let non-accredited investors hold securities or membership interests in a property-specific LLC or series LLC that owns the underlying property. This provides property-level economic exposure through a professionally managed structure instead of a six-figure down payment.
Monthly distributions offer more frequent reinvestment opportunities: Platforms like mogul pay rental distributions monthly rather than quarterly, which gives members more frequent opportunities to redeploy cash flow as it arrives.
Loss protection can reduce first-year downside: mogul covers up to $10,000 in losses for new members' first-year investments. Among the platform disclosures reviewed for this guide, a directly equivalent program was not identified.
Tax treatment varies by issuer and entity structure: Some property-specific LLC investments pass through depreciation and other items on a Schedule K-1, while REIT or corporate structures may issue Form 1099-DIV and provide materially different treatment. At-risk and basis limitations may apply, so real estate tax benefits depend on each investor's circumstances.
Selective underwriting reflects an institutional process: mogul reports that fewer than 1% of thousands of reviewed deals clear its financial analysis, inspections, appraisals, and third-party diligence, and the company publishes how properties are selected.
Availability changes across the category: Two platforms in this guide were closed to new non-accredited purchases as of August 4, 2026.
1. mogul
mogul is a fractional real estate platform club founded by former Goldman Sachs executives. Investors purchase a membership interest in a property-specific investment-club LLC that owns an individual income-generating residential property, which provides property-level economic exposure, governance rights, potential tax items, and proportional sale proceeds. mogul reports more than $40 million in assets on the platform and 13,000+ investors, along with an 18% average annual return as a company-reported figure, compared with roughly 9% for the S\&P 500.
How Does mogul Work?
mogul's platform enables investors to purchase fractional interests in professionally vetted and managed single-family rental properties. mogul states that it creates a PropCo LLC taxed as a partnership for each property and offers ownership through an investment-club structure, so investors hold LLC membership interests tied to a named property rather than shares in a pooled fund. Key highlights:
Selective Underwriting: Founded by former Goldman Sachs executives, with more than $10 billion in collective real estate deal experience reported across the team. mogul states that fewer than 1% of thousands of reviewed deals pass its financial analysis, inspections, appraisals, and third-party diligence.
Monthly Distributions: Investors receive proportional net rental income monthly once a property is operational, generally on the second Tuesday of the month. Amounts vary with property performance.
Loss Protection: mogul covers up to $10,000 in losses for new members in their first year.
Property-Level Rights: Each investment provides governance rights weighted by ownership percentage, potential pass-through tax items, and pro rata net proceeds when a property is sold.
Company-Reported Performance
The following figures are reported by mogul on its own pages:
18% average annual return across platform assets, as stated on mogul's How It Works page, compared with roughly 9% for the S\&P 500
90% of investors make a second investment, and when they do, it is approximately three times their first investment
More than $40 million in assets on the platform and 13,000+ investors on the platform, with an average investment of approximately $10,000 and a typical portfolio allocation of $17,321 per property
A record monthly yield of 2.6%, reported as a fast fact dated June 1, 2026
A 15% to 20% annual-return target displayed on multiple current property cards, and a 12% minimum projected IRR hurdle that mogul states is projected and inclusive of its one-time fees. These are underwriting targets rather than realized results.
What Makes mogul Distinctive
Goldman Sachs Background: mogul was created by former Goldman Sachs executives, and the company reports more than $10 billion in collective real estate deal experience across its team.
Blockchain Infrastructure: mogul states that ownership records are maintained on Avalanche blockchain infrastructure and can be independently checked through Snowtrace and cross-referenced with the operating agreements. Blockchain works as back-end record infrastructure that reduces operational cost, and conventional payment methods remain available.
Aligned Incentives: mogul states that it personally invests in every property offered.
Scenario-Based Analysis: mogul describes base, bull, and bear underwriting scenarios, and offers free professional underwriting for any U.S. address through its investment property calculator with no purchase obligation. A rental property calculator and an Airbnb calculator cover additional strategies.
Best For: Investors who want property-level selection with an LLC structure, monthly rental distributions, and a first-year loss-protection program that the platform disclosures reviewed for this guide did not match. mogul's average-annual-return figure reflects total return on platform assets, which measures something different from a dividend yield or a debt-investment return.
2. Fundrise
Fundrise operates as a diversified real estate fund platform that pools investor capital across residential, commercial, and industrial properties. The platform accepts investments starting at $10 and has built a 12-plus-year track record serving non-accredited investors.
Key Features
$10 minimum investment for standard accounts
As of March 31, 2026, Fundrise reported more than 402,000 active investor accounts and approximately $3.4 billion in assets under management. Note that one person may hold more than one account, so accounts are not the same as individual investors.
Fee structures vary by product. The Flagship and Income Funds charge a 0.85% annual management fee, while the Innovation Fund charges a 1.85% management fee. Fund expenses and other underlying costs sit outside a single headline fee number.
Distributions are generally quarterly, and eligible funds provide limited quarterly repurchase opportunities subject to fund terms, available liquidity, and possible proration.
Investment categories used in Fundrise's own performance reporting include Income, Balanced, Growth, Venture, Custom, and Overall.
Performance Profile
Historically, Fundrise's Flagship Real Estate Fund returned 7.50% in 2024 and the Income Fund returned 8.30%. For the first half of 2026, Fundrise reported 6.18% for the Flagship Fund and 4.90% for the Income Fund over that six-month period, which is not directly comparable to a full-year figure. The platform provides diversification across property types through pooled fund structures rather than property-specific ownership.
Best For: Beginners wanting to test real estate investing with minimal capital through diversified fund exposure.
3. Groundfloor
Groundfloor provides real estate debt investments, funding fix-and-flip loans rather than equity ownership in properties. Groundfloor offers Regulation A-qualified debt investments to non-accredited investors.
Key Features
$10 minimum per loan investment
Groundfloor states that investors pay no platform fees on its individual Loan and Note products; fees may apply to other products or managed services
Groundfloor reports approximately 10% historical annualized returns for selected investment activity, based on its own stated methodology
Stated loan terms of roughly 6 to 18 months, with repayment timing dependent on loan status
Risk grades A through G allow investors to choose their risk and return profile
Performance Profile
Groundfloor reports more than $2.2 billion in investments offered or funded and realized losses below 1.5%, based on company data through August 31, 2025. The debt-focused model centers on shorter stated commitment periods, with returns coming from interest rather than property appreciation.
Platform Financial Disclosure
Groundfloor's 2025 audited financial statements included a going-concern qualification. Platform-level financial condition is one of several structural factors that differ across the products in this guide.
Best For: Investors seeking higher stated yields with shorter commitment periods through real estate debt rather than equity ownership.
4. Arrived Homes
Arrived Homes offers property-specific interests in single-family rentals and vacation properties, and is backed by institutional and venture investors including Bezos Expeditions. Investors purchase series membership interests, while the individual series or a wholly owned subsidiary owns the designated property.
Key Features
$100 minimum per property
As of November 6, 2025, Arrived reported more than 885,000 sign-ups and more than $300 million invested
Investors select property-specific series membership interests associated with identified homes
Arrived investors receive Form 1099-DIV for dividends, which is a different reporting mechanism from directly owning and operating a rental property
Arrived launched a secondary market in November 2025 with a monthly trading window
Performance Profile
Arrived reported a 3.6% average annualized dividend yield for individual SFR properties and 4.2% for its SFR Fund in Q1 2026, compared with 3.9% for individual SFR properties across 2025 and 4.0% for the SFR Fund in Q4 2025. Dividend yield excludes changes in property value and is not total return. Arrived separately publishes estimated historical total-return ranges in general terms.
Liquidity Notes
Arrived operates a monthly secondary trading window, and a market may not develop or be sustained for every property. The executing broker may charge up to 2.5% on purchases and up to 2.5% on sales, and available prices may be above or below reported NAV.
Best For: Investors wanting address-level property selection with institutional backing and a periodic secondary trading window.
5. Ark7
Ark7 delivers property-specific real estate interests with a focus on fee efficiency, charging no recurring annual AUM fee.
Key Features
$20 minimum on the secondary market, $100 for new offerings
Ark7 states that it had approximately 300,000 registered investors as of May 2026, which is a company-reported figure. Registered users, investors, funded investors, and active investors are different metrics across the category.
Ark7 states that it charges no annual AUM fee and a 3% sourcing fee; property-level management fees of approximately 8% to 15% of gross rent may also apply
Monthly distributions
Eligible shares may be listed after a 12-month minimum holding period
Investors purchase securities or membership interests in a series entity that owns the underlying property
Performance Profile
Ark7's most recent published update, for June 2026, reported a 4.04% annualized portfolio yield and 92.50% occupancy. For historical context, Ark7 reported 4.74% annualized yield in February 2026 and 94.81% occupancy in December 2025. The same June 2026 update reported that approximately 70% of the portfolio was trading on the secondary market.
Best For: Cost-conscious investors seeking property-specific interests with no recurring platform AUM fee, accounting for property-level management fees separately.
6. RealtyMogul (Closed to New Non-Accredited Subscriptions)
RealtyMogul provides access to commercial real estate through REIT structures and private placements, with more than ten years of operating history since launching in 2012.
Current Status and Availability
RealtyMogul's non-accredited REIT offerings had paused new cash subscriptions since July 11, 2025. In April 2026, the Income REIT also suspended its distribution-reinvestment and share-repurchase programs, and the Apartment Growth REIT similarly stopped processing repurchase requests, with no firm reopening date provided. Because the offering was closed, a stated $5,000 REIT minimum was not a currently actionable figure as of August 4, 2026.
Key Features
Focus on commercial properties: office, retail, industrial, multifamily
More than ten years of operating history
For January through March 2026, the Income REIT authorized daily distributions to eligible shareholders, with the accumulated amount expected to be paid around April 15, 2026. The filing distinguishes daily accrual and declaration from the later payment date.
The Income REIT stated that its January through March 2026 distributions equated to approximately 3.0% of NAV on an annualized basis. Annualization describes a period rate rather than a forward projection.
The Apartment Growth REIT paused distributions as of January 2026
Current filings report results at the individual REIT level rather than platform-wide. The Income REIT reported approximately 7,700 unique investors in its offerings through December 31, 2025, which is an offering-level figure and cannot be extrapolated to total platform membership or total capital deployed.
Best For: Watch-list only. This was not a currently available option for new non-accredited investors as of August 4, 2026.
7. Streitwise (Closed to New Direct Purchases)
Streitwise operates as a non-traded REIT focused on commercial office properties.
Current Status and Availability
Streitwise announced that direct purchases and its distribution-reinvestment plan were suspended June 25, 2026, and its redemption plan was suspended effective July 1, 2026, with management evaluating strategic alternatives to provide liquidity. Streitwise is best treated as a watch-list product rather than a currently available investment.
Key Features
Before direct purchases were suspended in June 2026, Streitwise required a $1,000 initial investment and at least $100 for additional investments
Streitwise charges a 2% annualized asset-management fee. Its 2026 offering circular stated that investors paid no upfront selling commission. Any other organizational, offering, or transaction costs are described in the filing by their actual legal classification.
Quarterly dividend schedule
Commercial office concentration
Performance Profile
Through September 30, 2025, Streitwise reported a 7.22% weighted-average annualized distribution yield across 34 distributions, calculated against the original $10 share price. Its Q2 2026 declared dividend of $0.04 per share annualized to approximately 2.3% against the then-current $6.96 share price.
Streitwise historically reported an extended period of annualized distribution yields at or above 8%. Those figures were distribution yields rather than total returns. Because distribution yield excludes changes in NAV, it describes income rather than a since-inception total return.
NAV moved from $6.84 at year-end 2024 to $6.96 by March 31, 2026.
Best For: Watch-list only. New purchases and redemptions were suspended as of August 2026.
Why mogul Stands Out for Non-Accredited Investors
Institutional Experience Applied to Property Selection
mogul was created by former Goldman Sachs executives, and the company reports more than $10 billion in collective real estate deal experience across its team. mogul states that fewer than 1% of thousands of reviewed deals pass its financial analysis, inspections, appraisals, and third-party diligence, which reflects a highly selective institutional process. mogul publishes how properties are selected along with an overview of its property onboarding process. According to mogul, co-founder Joey Gumataotao grew Goldman Sachs' single-family-rental platform from $0 to $1 billion in under 12 months with a three-person team.
Return Targets Built Around Higher-Yield Rental Strategies
mogul reports an 18% average annual return as a company-reported platform figure, and current property cards commonly display a 15% to 20% annual-return target alongside a 12% minimum projected IRR hurdle that mogul states is projected and inclusive of its one-time fees. mogul invests across single-family rental verticals: mid-term rentals target roughly 10% to 12% NOI yields and roughly 17% to 22% levered returns while operating at 94% occupancy, and short-term rentals target roughly 8% to 10% NOI yields and roughly 13% to 18% levered returns, for a target weighted average of roughly 15% to 20%. Actual operating strategy selection depends on local regulations, demand drivers, and property economics, and displayed Year 1 yields on individual property cards vary by property, financing, market, occupancy, and expenses.
Performance across platforms is best compared using the same metric, period, fee treatment, leverage assumptions, and realized-versus-unrealized methodology. Metrics such as IRR, dividend yield, fund total return, and debt-investment return each measure something different, so they are not interchangeable with mogul's average-annual-return figure.
First-Year Loss Protection
mogul states that if total return on investments made in a new member's first 7 days shows a loss of up to $10,000 after one year, mogul covers that loss from its own balance sheet capital. Among the platform disclosures reviewed for this guide, including current Arrived, Ark7, and Fundrise offering and fund documents, a directly equivalent first-year protection program was not identified as of August 2026. mogul also runs a Give $50, Get $50 offer: refer a friend and get $50 when they invest. Program details appear in the referral program terms and the promotion disclaimer.
Monthly Income and Reinvestment Frequency
mogul pays proportional net rental income monthly once a property is operational, generally on the second Tuesday of the month. Distribution schedules vary across the category, with monthly, quarterly, and product-specific schedules in use, and non-traded REITs can authorize distributions on one schedule and pay them on another.
Monthly distributions give investors more frequent opportunities to reinvest than quarterly distributions. Combined with potential pass-through depreciation items, mogul's model targets the familiar drivers of real estate returns: appreciation, rental income, tax items, and leverage. Long-term wealth building through real estate is shaped by execution and market conditions across full cycles.
Property-Specific LLC Ownership Rather Than a Pooled Fund
Rather than pooled funds or REIT shares, mogul offers a membership interest in a property-specific investment-club LLC that owns the underlying home. Because the property LLC is taxed as a partnership, investors generally receive a Schedule K-1 reflecting their share of income, expenses, and depreciation, along with governance rights weighted by ownership percentage and pro rata net proceeds when a property is sold. This provides property-level economic exposure, and tax results depend on each investor's circumstances.
mogul states that accredited-investor status is not required and that its offerings are structured through property-specific investment clubs. mogul facilitates access to these offerings, and investment decisions remain with the investor. The applicable operating agreements, offering documents, and mogul's legal disclosures set out the full structure and terms.
Investor Backing
mogul announced a $3.6 million seed round led by AY Ventures, with participation from Tim Draper & Associates, Draper B1, InterVest, Draper Dragon, Blizzard Fund, and angel investor Rosa Rios, along with executives from Goldman Sachs, J.P. Morgan, and Carlyle. The round brought total funding at the time to $4.2 million. mogul separately lists Ripple co-founder Chris Larsen among its backers or advisers, which is distinct from participation in the disclosed seed financing.
Browse current property offerings to see the investments currently available to non-accredited investors through mogul, or schedule a call with the team.
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 difference between an accredited and non-accredited investor?
Individuals may qualify as accredited through the SEC's accredited investor tests, generally net worth above $1 million excluding a primary residence, or annual income above $200,000 individually or $300,000 jointly with a spouse or spousal equivalent. Those are not the only routes: certain holders of Series 7, Series 65, or Series 82 credentials, certain directors and executive officers, knowledgeable employees of private funds, and qualifying family-office clients can also qualify. Investors who do not meet any of these tests are non-accredited. Certain issuers rely on Regulation A and similar exemptions to offer securities to non-accredited investors, subject to the applicable offering requirements and investment limits. mogul states that accredited status is not required and that its offerings are structured through property-specific investment clubs.
How does mogul reduce the operational burden of rental ownership?
mogul states that it handles sourcing, diligence, and management, and that its acquisitions team negotiates purchase price, seller-funded repairs, and loan terms. Professional property management covers tenant or guest coordination, maintenance, and day-to-day operations, which makes real estate investing more accessible and headache-free. Investors receive monthly distributions once a property is operational, with a stated holding period of 3 to 10 years and a typical hold described as approximately 5 to 7 years.
What are the tax implications of fractional real estate ownership?
Tax treatment varies by issuer and entity structure. Some property-specific LLC investments pass through depreciation or other tax items on a Schedule K-1, while REIT or corporate structures may issue Form 1099-DIV and provide materially different treatment. At-risk and basis limitations can affect the use of losses or deductions, and how depreciation works shapes how much rental income is sheltered. Because mogul's property LLC is taxed as a partnership, investors generally receive a Schedule K-1 reflecting their share of income, expenses, and depreciation, and depreciation may offset or exceed rental income. These items may provide depreciation-related tax benefits subject to the offering terms and each investor's individual tax circumstances, so a qualified tax professional can provide guidance specific to your situation.
How does a secondary market improve real estate investments?
Secondary trading facilities may create an opportunity to sell eligible shares before the underlying property is sold, while execution, timing, price, and continued market availability vary by platform. Across the platforms in this guide, a market may not develop or be sustained for a given property, approximately 70% of one platform's portfolio was trading in June 2026, and Streitwise suspended redemptions effective July 1, 2026. Liquidity in real estate works differently from public markets across every structure covered here. mogul has described a secondary market as coming soon, with a planned design that would calculate share values monthly using third-party appraisal-level data.
Can non-accredited investors earn meaningful returns from real estate?
Fractional platforms give non-accredited investors access to real estate securities that were previously difficult to reach. Results depend on investment date, property, leverage, fees, vacancy, resale price, and liquidity, and historical, annualized, dividend-yield, and target figures describe past or modeled outcomes rather than future performance. mogul reports an 18% average annual return as a company-reported platform figure and displays 15% to 20% annual-return targets on current offerings, which are underwriting targets.