Mogul Review 2026: Curated US Rentals from $250

Mogul is a fractional real estate platform founded in 2022 and based in Washington, DC, by two former Goldman Sachs real estate professionals, Alex Blackwood as CEO and Joey Gumataotao as COO. It curates rental properties across the United States, short-term rentals, mid-term rentals, long-term rentals and sale-leasebacks, where a company sells a property and rents it back, and sells tokenized shares of each from $250. It is backed by Tim Draper and Draper Dragon among other investors. Mogul says publicly that it treats competitors as partners and already syndicates its inventory to other platforms, which is why its listings appear on Threeworld with the same fields as everyone else's. It is the fourth-largest platform on the index and, with Arrived and Sols Lot, one of three that list only US property. The US market guide covers the rules all three work under.

Each property is held in its own entity and investors buy shares of it, issued as tokens on the Avalanche blockchain. The token is a record of your position rather than a separate asset: it is still a security under US law, the same identity checks apply, and what you own is a share of the entity that owns the house. Mogul manages the property, chooses the rental strategy and decides when to sell. The reason Mogul highlights real estate tax benefits is the structure. Shares of a pass-through entity can pass depreciation to investors, which is an accounting deduction that can shelter part of the rental income from tax in the year it is paid. Whether a given offering does that depends on how the entity is taxed, and the offering documents say. The guide to fractional real estate taxes explains the 1099 and K-1 difference in plain terms.

The minimum is $250 per property. The share price shown on the index can be as low as $1 because Mogul prices individual tokens cheaply, but the platform minimum still applies to a first position. Rental income is paid monthly, net of the property manager, operating costs and Mogul's fees, which are set out per offering. The figure to understand is Mogul's targeted average IRR of 18.8% across its portfolio (self-reported). IRR, internal rate of return, is the annual rate that makes all the cash flows of an investment, the rent every month plus the sale price at the end, add up to what you paid. It is a total-return projection that includes an assumed sale price and an assumed date, so it is not a rental yield and cannot be compared with Arrived's 4% or Stake's mid single digits, which are income only. Mogul's index median is high for the same reason. The guide to calculating returns walks through the difference with numbers.

Mogul's exits depend on the terms of each project rather than on a platform-wide secondary market of the kind Stake, Reental or Arrived run. Short-term and mid-term rentals are typically held for a set period and then sold, and the sale distributes the proceeds to every shareholder. Read each offering for the intended hold period and for whether early transfers are allowed, and assume you will hold to the sale. That makes Mogul a place for money you can leave alone for several years. The guide on how to sell fractional shares sets out what to expect on the platforms that do have a market, and the contrast is worth knowing before you buy.

The live box at the top of this page shows Mogul's listings on the Threeworld Fractional Real Estate Index, the median projected return across them and the lowest share price. Mogul's median will sit far above the index median, and the reason is the one above: its figures are IRR-style total-return projections that include an assumed sale, while most of the index quotes rental yield. So the useful comparison is not Mogul against Stake. It is one Mogul listing against another, and Mogul against Arrived, which sells the same asset class with income-only numbers. Threeworld's score, which weighs funding progress, sales velocity and listing age against peers, is a way to rank Mogul's properties that does not depend on the projection at all. The list of fractional single-family homes ranks them that way alongside Arrived's and Sols Lot's.

The risk that matters most is projection risk. A short-term rental's income depends on occupancy and nightly rates that move with tourism and local regulation, and an IRR built on a sale price five years out is a model, not a promise. The second is platform risk: Mogul is young, founded in 2022, and each property's ownership sits in its own entity, but the servicing of that entity depends on the platform. On each listing, check: 1. Whether the projection is a rental yield or an IRR, and what sale price and date it assumes. 2. The rental strategy, since short-term rentals carry more variable income than long-term leases. 3. The hold period and the transfer rules, because there is no general secondary market to fall back on. 4. The fee schedule and the tax treatment of the entity in the offering documents. Access is US-focused. Check the offering for who can invest, and expect to need US tax paperwork. The best platforms in the US guide sets Mogul beside the alternatives.

Mogul is a curated, higher-conviction way to own US rentals, run by people who came from institutional real estate and who publish their projections plainly. Those projections are its appeal and its risk. If you understand what an 18.8% targeted IRR does and does not mean, the platform gives you a diversified set of rental strategies from $250 with monthly income. If you want the same asset class with conservative numbers and a regulator's stamp on the paperwork, Arrived vs Mogul is the comparison to read next. Threeworld does not hold your money, execute trades or give investment advice. It lists every property from every integrated platform with the same fields so you can compare them, and this review is one reading of the public record, not a recommendation.