RealtyMogul Review

RealtyMogul Review 2026: Solid Commercial Real Estate With a Mixed Track Record

Last verified: 2026-04-12 | Overall rating: 3.7/5

The 30-Second Verdict

RealtyMogul offers non-accredited investors access to commercial real estate REITs starting at $5,000, which is a genuine differentiator. The platform's 234 realized investments show an 18.1% IRR, but REIT returns of 4-4.5% annualized are modest. Mixed investor reviews---some reporting only 1 of 3 deals performing as projected---temper the headline numbers. Strong due diligence and SEC oversight are real positives, but the complete lack of liquidity is a dealbreaker for some.

What Is RealtyMogul and How Does It Work?

RealtyMogul is a real estate investment platform offering two main products: public nontraded REITs available under Regulation A+ for all investors, and private placements under Rule 506(c) for accredited investors only. The Income REIT and Apartment Growth REIT provide diversified commercial real estate exposure with monthly or quarterly distributions. Private placements target higher returns through individual property deals.

Who Is RealtyMogul Best For?

RealtyMogul is best for investors seeking passive commercial real estate income who are comfortable with illiquid holdings. Non-accredited investors get a rare opportunity to access institutional-grade real estate through the REITs. Accredited investors looking for higher-return private placements targeting 15-18% IRR have additional options. If you need liquidity or want higher REIT returns, consider Fundrise or CrowdStreet.

Fees

• Income REIT management fee: 1% annually
• Apartment Growth REIT management fee: 1.25% annually
• Disposition fee: Up to 2% on property sales
• Organization/Offering/Operating expenses: Up to 3% of equity contributions

On a $5,000 minimum investment in the Income REIT for one year, you would pay approximately $50 in management fees. With the 4% annualized return, gross income would be $200, netting roughly $150 after the management fee (before any disposition or organizational expenses on underlying properties).

Minimum Investment

$5,000 for REIT products. Private placements may have higher minimums.

Accreditation Requirements

Partial. REITs are open to non-accredited investors subject to a 10% of income or net worth investment limit. Private placements require accredited investor status.

Liquidity --- How Do You Get Your Money Out?

Investments are completely illiquid. There is no secondary market for selling REIT shares or private placement positions. You are dependent on the fund's distribution schedule and eventual liquidation events. Plan to hold for the full investment term.

Historical Returns

RealtyMogul reports an 18.1% IRR across 234 realized investments as of October 30, 2024. The Income REIT has delivered 4% annualized returns over 9+ years. The Apartment Growth REIT has delivered 4.5% annualized since January 1, 2018. Private placements target 15-18% IRR but actual performance varies significantly by deal.

Past performance is not indicative of future results. Some investors have reported deals that returned nothing or lost money.

Regulatory and Legal Structure

REITs are offered as public nontraded REITs under Regulation A+. Private placements operate under Rule 506(c) exemption. The platform is SEC-regulated.

Pros

• $5,000 minimum opens commercial real estate to non-accredited investors
• Strong due diligence process widely recognized as among the best in the industry
• Long track record with 234 realized investments showing 18.1% IRR
• Monthly and quarterly distributions from REITs provide regular income
• Transparent fee disclosure with clearly stated management fees
• Diversified offering types for different investor profiles

Cons

• Completely illiquid with no secondary market for selling positions
• Mixed investor reviews: some report only 1 of 3 deals performing as projected
• Some investors report deals with no returns or total loss of capital
• Additional fees beyond management: up to 2% disposition fee and up to 3% organizational expenses
• REIT returns of 4-4.5% are modest compared to historical stock market averages
• No mobile app; web-only platform

The Bottom Line

RealtyMogul stands out by offering non-accredited investors access to institutional commercial real estate through SEC-regulated REITs at a $5,000 minimum. The due diligence process is well-regarded, and the 18.1% IRR across realized deals is a strong headline number.

The reality is more nuanced. REIT returns of 4-4.5% annualized are underwhelming, and investor reviews reveal a wide spread in deal outcomes. The layered fee structure---management fees, disposition fees, organizational expenses---can eat into returns. The complete absence of any liquidity mechanism is a significant limitation.

RealtyMogul is a reasonable choice for patient investors seeking commercial real estate diversification with regular income, particularly non-accredited investors with few alternatives. Just go in with realistic expectations about returns and holding periods.

ModernAlts may receive compensation if you open an account with platforms reviewed on this site. This does not influence our editorial ratings or analysis. Alternative investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Nothing on this site constitutes investment, legal, or tax advice.