AcreTrader vs FarmTogether vs Steward
Three platforms. Same agricultural sector. Completely different investment structures. AcreTrader and FarmTogether give you equity in farmland. Steward gives you a loan to a farm. That distinction — equity vs. debt — drives every other difference: who can invest, what you earn, how you exit, and what you owe in taxes.
Guide Thesis
These platforms are not competing for the same investor.
Most investors pick the wrong platform by comparing returns without comparing structure. An accredited investor seeking land appreciation and tax efficiency should not be on Steward. A non-accredited investor seeking fixed monthly income should not be on AcreTrader. Structure determines fit.
TL;DR — read this first
The most important question is not which platform has better returns. It is whether you want to own farmland or lend money to farmers.
AcreTrader
Own land. Get K-1. 5–10 yr hold. Accredited only. $15K min.
FarmTogether
Own land. Five structures. Permanent crops. Accredited only. $15K–$50K min.
Steward
Lend to farms. Fixed 7.5% monthly. $100 min. No accreditation.
That structure choice determines your tax treatment, minimum investment, liquidity, and accreditation requirement. Everything else follows from it.
If you read nothing else on this page, scroll to the platform-vs-platform section — three comparisons, each with a direct verdict.
The Core Decision
🌱 Equity or credit. That is the real choice.
AcreTrader and FarmTogether make you a farmland owner — a real asset you can point to on a map, with tax advantages built for generational wealth. The tradeoff is 5–10 year illiquidity and accredited investor minimums starting at $15,000. Steward makes you a lender — fixed monthly income, $100 minimum, no accreditation, no waiting years to see returns. The tradeoff is no equity upside and no SEC oversight. Neither is universally better. They serve fundamentally different financial needs.
Lowest Minimum
🔓 Steward
$100, no accreditation required. AcreTrader $15K–$25K. FarmTogether $15K–$50K+. Only agriculture platform open to non-accredited investors.
Best Tax Efficiency
🏦 AcreTrader / FarmTogether
K-1 with depreciation, 1031 exchange eligibility, estate planning benefits. Steward issues 1099-INT — no tax advantages, but no K-1 complexity either.
Most Verifiable Exit Data
✓ AcreTrader
15 AltStreet-confirmed exits, 9.4%–30.3% actual IRR range, SEC Form D filings on EDGAR. More independently verifiable retail farmland investment data than any comparable platform.
Decision shortcut
Pick your platform in 10 seconds
Start with the constraint that eliminates the most options fastest.
🌾
If you want real ownership + tax efficiency
AcreTrader
Own a piece of American farmland. Benefit from depreciation, 1031 exchanges, and inflation-resistant real assets.
15 AltStreet-confirmed exits (9.4%–30.3% IRR), row crop stability, K-1 with depreciation, institutional-grade due diligence.
🌳
If you want product flexibility or permanent crops
FarmTogether
Five ways to invest. Permanent crops that can generate higher revenue. A fund with an auditor.
Sustainable Farmland Fund (Moss Adams audited), TIC for 1031 exchange buyers, specialty crop upside, 6–13% target IRR.
💵
If you want predictable income + accessibility
Steward
Know exactly what you'll earn each month. Start with $100. No waiting room for accreditation.
Fixed 7.5% APR paid monthly, $100 minimum, no accreditation, zero defaults reported (self-reported, unaudited), clean IRA compatibility.
Full comparison
AcreTrader vs FarmTogether vs Steward — side by side
All three platforms. Every dimension that matters for the investment decision.
AcreTrader
FarmTogether
Steward
Fee structures vary by offering — verify current terms with each platform before committing capital. AcreTrader and FarmTogether returns are projections, not guarantees. Steward figures are self-reported and unaudited. Updated May 2026.
See which platform you should actually be using →Why trust this comparison
AltStreet is one of the only research platforms independently verifying agriculture investment outcomes across multiple platforms — not just summarizing marketing materials.
The AcreTrader exit data in this guide (15 confirmed exits, 9.4%–30.3% actual IRR, 1.1–4.2 year actual holds) was sourced from AcreTrader's own exit pages and cross-referenced against our database — not taken from platform marketing. Steward's financial analysis covers 26 quarterly performance periods tracked against primary source balance sheets and income statements. FarmTogether's Moss Adams audit status was confirmed independently. No platform paid for inclusion or positioning in this comparison.
$0
Steward loan losses across $44M+ deployed since 2021
Zero defaults reported (self-reported, unaudited). Zero losses. One minor delinquency ($3,821) cured in months. AltStreet-tracked across 26 quarterly periods.
30.3%
Highest verified actual IRR across AcreTrader's 15 confirmed exits
AltStreet-verified. Range: 9.4%–30.3%. Median hold: ~2.5 years. Deal selection matters more than the asset class average.
$100
Steward minimum — the only platform open to non-accredited investors
AcreTrader: $15K–$25K, accredited only. FarmTogether: $15K–$50K+, accredited only. Steward: $100, no accreditation.
1.39%
Steward's gross spread between borrower rate and lender rate
The fund's entire operating buffer. Was negative through most of 2023. Thin by any institutional standard.
Platform strengths
Where each platform leads
No platform wins across all dimensions. The right one depends entirely on what you need it to do — and how you feel about illiquidity, tax complexity, and minimum commitments.
🌾
AcreTrader wins on
Verifiable outcomes + real ownership
15 AltStreet-confirmed exits, SEC Form D transparency, row crop stability, institutional-grade due diligence, Proterra backing (2025). If you want to own real land and see a real exit track record, this is where it lives.
🌳
FarmTogether wins on
Product depth + premium crops
Five structures, Moss Adams-audited Sustainable Fund, TIC for 1031 exchange buyers, Leading Harvest ESG certification. If you want flexibility — or you're a 1031 buyer needing a replacement property — FarmTogether has the product menu.
💵
Steward wins on
Accessibility + peace of mind
$100 minimum, no accreditation, fixed 7.5% paid on the 15th of every month. Zero defaults reported (self-reported, unaudited). If you want to know exactly what you'll earn — and you want to start now, not after building a $15,000 position — Steward is the answer.
Can non-accredited investors invest in farmland?
Short answer
No accreditation required. AcreTrader and FarmTogether both require investors to be accredited ($200,000 annual income or $1,000,000 net worth excluding primary residence). Steward requires only $100 and no accreditation — the only platform among these three open to non-accredited investors.
The accreditation requirement is the most consequential structural difference among these three platforms. AcreTrader and FarmTogether are equity investments in farmland — they file under Regulation D, which restricts participation to accredited investors. Steward structures lender agreements as promissory notes rather than securities, bypassing Reg D entirely. That structural choice is what makes the $100 minimum and open access possible — and it is why Steward files no Form D on SEC EDGAR while the other two do.
For roughly 90% of U.S. households that do not meet accreditation thresholds, Steward is the only pathway to agriculture exposure in this comparison. For accredited investors, all three are accessible — but the right choice still depends on whether you want equity ownership or fixed income lending.
| Access dimension | AcreTrader | FarmTogether | Steward |
|---|---|---|---|
| Accreditation | Required — all products | Required — all products | Not required |
| Minimum | $15,000–$25,000 | $15K–$50K+ (by product) | $100 |
| SEC filing | Reg D Form D on EDGAR | Reg D Form D on EDGAR | None — promissory note outside Reg D |
| Why the structure differs | Equity securities under Reg D | Equity securities under Reg D | Deliberate promissory note design to bypass Reg D — enables retail access |
Full regulatory analysis in individual reviews: AcreTrader, FarmTogether, Steward.
Which platform is best for farmland tax advantages in 2026?
Short answer
AcreTrader and FarmTogether both offer K-1 tax reporting with depreciation deductions, 1031 exchange eligibility, and estate planning advantages. FarmTogether also provides TIC structures specifically for 1031 exchange buyers. Steward is taxed as ordinary interest income (1099-INT) — no depreciation, no 1031 exchange, no estate planning benefits. The 2025-2026 'One Big Beautiful Bill' estate tax provisions further widen the equity advantage.
Tax treatment is where the equity vs. debt distinction matters most. AcreTrader and FarmTogether investors own fractional farmland through LLCs — they receive K-1 pass-through reporting, access annual depreciation deductions that shelter crop income from taxation, and can use 1031 exchanges to roll appreciated land into new farmland without recognizing capital gains. The "One Big Beautiful Bill" estate tax provisions (2025-2026) — permanently increasing exemptions to $15M per individual — meaningfully improved the estate planning case for these platforms.
Steward lenders receive 1099-INT — interest income at ordinary rates up to 37%. No depreciation, no 1031, no estate planning. The 1099-INT simplicity is an advantage for IRA investors and those without tax complexity, but for high-income investors specifically seeking agriculture's tax efficiency, the equity platforms are structurally superior.
| Tax dimension | AcreTrader | FarmTogether | Steward |
|---|---|---|---|
| Tax document | K-1 (March–April, extension risk) | K-1 varies · Sustainable Fund audited by Moss Adams | 1099-INT by January 31 · no extension risk |
| Depreciation deductions | Yes — shelters crop income annually | Yes — shelters crop income annually | No |
| 1031 exchange eligible | Yes — via LLC structure | Yes — especially via TIC structure | No — debt instrument |
| OBBB estate tax (2026) | $15M exemption · Sec. 2032A · step-up in basis | $15M exemption · Sec. 2032A · step-up in basis | No benefit — ordinary interest income |
| IRA compatibility | SDIRA possible · potential UBTI if leveraged | SDIRA possible · potential UBTI | Clean — no UBTI · works in Roth and traditional IRA |
How liquid are investments on AcreTrader, FarmTogether, and Steward?
Short answer
Steward wins on raw liquidity: the SRC fund allows 3-month notice withdrawals after the initial 9-month term. AcreTrader's verified actual holds range from 1.1 to 4.2 years across 15 exits — shorter than the stated 5–10 year target, driven by institutional 1031 exchange buyers. FarmTogether's Sustainable Farmland Fund offers quarterly redemption windows after a 2-year lockup, but those windows are conditional. None of these are liquid assets.
Liquidity is the most misunderstood dimension in this comparison. AcreTrader's "5–10 year hold" means nothing is scheduled until an institutional buyer makes an offer. AltStreet's verified exit data shows actual holds of 1.1 to 4.2 years across 15 confirmed exits — shorter than stated, but driven by unsolicited institutional 1031 exchange buyers, not platform-managed redemptions. Three deals closed to a single buyer on the same date. You do not control the timing.
FarmTogether's quarterly redemption windows are frequently mischaracterized as guaranteed quarterly liquidity. They are not — redemptions require available cash, manager approval, and capacity. The 2-year lockup is firm; the quarterly windows are conditional. Steward's 3-month notice is the most operationally defined, depending on Steward Credit LLC's cash position (Q4 2025 balance: $5.4M against $18.9M in lender obligations — a reasonable buffer but not a guaranteed redemption).
| Liquidity dimension | AcreTrader | FarmTogether | Steward |
|---|---|---|---|
| Stated hold | 5–10 years | 5–10 yr (crowdfunding) · 2-yr lockup + quarterly (fund) | 9 months + 3-month notice (SRC) |
| Verified actual hold | 1.1–4.2 years · median ~2.5 yrs (15 AltStreet exits) | Not publicly disclosed at deal level | 12 months operationally defined (9 + 3-month notice) |
| Exit trigger | Unsolicited institutional buyer (often 1031 exchange) — you don't control timing | Fund manager (fund) · buyer offer (crowdfunding) | Lender-initiated — 3-month notice after 9-month term |
| Planning guidance | Model 2–7 year range. Don't anchor to 5–10 year stated target. | Confirm redemption policy details. Treat fund as medium-duration. | Most predictable. Keep withdrawal date flexible — depends on fund cash. |
AcreTrader vs FarmTogether vs Steward: which has the best track record?
Short answer
AcreTrader has the most verifiable track record: AltStreet confirmed 15 exits with IRRs from 9.4% to 30.3% and a median hold of ~2.5 years. 139 Form D filings on SEC EDGAR. FarmTogether's Sustainable Fund is audited by Moss Adams but no individual deal exit summaries are published. Steward publishes 26 quarters of financial statements with zero defaults reported (self-reported, unaudited).
Track record transparency is where these platforms diverge most sharply. AcreTrader publishes an exit page with individual deal summaries — AltStreet has verified 15 exits with specific IRRs (9.4% to 30.3%) and hold periods (1.1 to 4.2 years). That is more independently verifiable agriculture investment track record data than exists anywhere else in the retail market. 124 older pre-2022 offerings have no public exit data — a real gap — but the 15 disclosed are detailed.
FarmTogether's Moss Adams audit of the Sustainable Farmland Fund is a meaningful credibility signal for that specific product — but no deal-level IRRs exist for individual crowdfunding offerings. Steward publishes more raw financial data than either equity platform (income statements, balance sheets, loan book snapshots back to 2021) but without independent audit or SEC filing verification. Transparency and verifiability are different things.
| Track record | AcreTrader | FarmTogether | Steward |
|---|---|---|---|
| Verified exits | 15 confirmed · 9.4%–30.3% IRR range | None at deal level | N/A — debt. 0 defaults reported (self-reported, unaudited) |
| SEC filing verification | Yes — 139 Form D filings on EDGAR | Yes — Form D filings on EDGAR | None — no Form D. Self-reported only. |
| Audit status | Not audited per deal | Sustainable Fund audited by Moss Adams | Unaudited — explicitly marked on all financials |
| What AltStreet can verify | 15 exits with IRR, hold period, exit trigger | Form D capital raised · audit existence · no IRRs | 26 quarters of metrics · zero defaults reported (self-reported, unaudited) · negative equity (-$227K) |
Which platform is best for IRA investing: AcreTrader, FarmTogether, or Steward?
Short answer
Steward is the cleanest for IRAs: interest-only income with zero UBTI, simple 1099-INT, compatible with traditional IRA, Roth IRA, and HSA without custodian complexity. AcreTrader and FarmTogether can work with SDIRAs but carry potential UBTI from leveraged farms and K-1 reporting complexity. Note: depreciation and 1031 benefits from equity platforms are unavailable inside any IRA regardless.
The primary complication for equity farmland platforms in IRAs is UBTI — Unrelated Business Taxable Income — which arises when an IRA invests in pass-through entities that use leverage. If an AcreTrader or FarmTogether LLC uses a mortgage, some farm income passed to an IRA may trigger a tax event inside a tax-advantaged account. Not all offerings use leverage, but it varies by deal and requires verification per offering.
Steward eliminates this entirely. Interest income from promissory notes does not generate UBTI. Roth IRA investors benefit from tax-free compounding at 7.5–8.0% annually. One important note: AcreTrader and FarmTogether's depreciation deductions and 1031 exchange eligibility — their biggest tax advantages — are inaccessible to IRAs regardless of UBTI. The tax calculation is different inside a retirement account.
| IRA dimension | AcreTrader | FarmTogether | Steward |
|---|---|---|---|
| IRA compatible | Yes via SDIRA — with UBTI caveats | Yes via SDIRA — with UBTI caveats | Yes — traditional, Roth, HSA · no caveats |
| UBTI risk | Possible if farm uses leverage — verify per deal | Possible if farm uses leverage — verify per deal | None — interest income, no leverage pass-through |
| Tax doc in IRA | K-1 — custodian must handle pass-through | K-1 — varies by structure | 1099-INT — standard custodian handling |
| Best IRA use | If equity appreciation matters and UBTI is managed per deal | If Sustainable Fund diversification matters most | Roth IRA for tax-free compounding at 7.5–8% fixed · zero UBTI |
Verify UBTI status per offering before investing via SDIRA. AcreTrader and FarmTogether deal structures vary — confirm with your SDIRA custodian and a qualified tax advisor.
Comparison hub
Platform-vs-platform decision map
Most investors narrow it to two platforms. Here is how each pairing actually resolves.
These sections isolate the specific comparisons investors search for — so you get a direct answer without reading the full guide.
Row crop simplicity vs permanent crop complexity
AcreTrader vs FarmTogether
AcreTrader and FarmTogether are the most structurally similar of the three platforms — both offer fractional equity in real farmland with K-1 tax reporting and accredited-investor-only access. The divergence is crop type, product complexity, and verified track record. AcreTrader concentrates on row crops (corn, soybeans, wheat) with simpler deals and 15 AltStreet-verified exits. FarmTogether tilts heavily toward permanent crops (almonds, pistachios, wine grapes) with higher target IRRs but more biological and water risk — and no individual exit summaries published.
Practical answer
Use AcreTrader when verifiable track record and row-crop stability matter most. Use FarmTogether when you want permanent crop upside, fund diversification via the Sustainable Farmland Fund, or a TIC structure for 1031 exchange needs.
| Decision factor | What changes |
|---|---|
| Crop focus | AcreTrader: row crops (corn, soy, wheat) — predictable annual lease income, Midwest-concentrated. FarmTogether: permanent crops (almonds, pistachios, wine grapes, citrus) — higher revenue potential, higher biological and water risk. |
| Product menu | AcreTrader: primarily single-farm SPV deals. FarmTogether: five structures — crowdfunding, Sustainable Fund, TIC, bespoke, SMA — more ways to access farmland, more complexity. |
| Exit data | AcreTrader: 15 AltStreet-verified exits, IRRs 9.4%–30.3%, median hold ~2.5 years. FarmTogether: no individual deal exit summaries published; Sustainable Fund audited by Moss Adams. |
| 1031 exchange | AcreTrader: eligible via LLC structure, requires professional coordination. FarmTogether: purpose-built TIC structure specifically for 1031 exchange replacement buyers. |
| Ideal use case | AcreTrader for simpler single-farm exposure with verifiable exit history. FarmTogether for permanent crop specialization, Sustainable Fund diversification, or 1031 exchange requirements. |
Equity ownership vs fixed-rate lending
AcreTrader vs Steward
AcreTrader and Steward are more different than they appear. AcreTrader gives accredited investors direct farmland ownership — equity exposure to appreciation, K-1 tax benefits, and participation in sale proceeds. Steward gives retail lenders fixed interest income from agriculture loans — no equity upside, no tax advantages, but no accreditation requirement and monthly liquidity. The choice is not which is 'better' but which exposure you actually want: variable equity returns with tax efficiency, or predictable fixed income with accessibility.
Practical answer
Use AcreTrader for equity participation in farmland appreciation, full tax benefits, and a verified exit track record. Use Steward for fixed monthly income, no-minimum accessibility, IRA compatibility without UBTI, and mission-aligned agriculture exposure without a 5-10 year lockup.
| Decision factor | What changes |
|---|---|
| Return type | AcreTrader: equity — land appreciation + crop income, variable outcomes, verified 9.4%–30.3% IRR range. Steward: fixed interest — 7.5% APR contractual, no upside beyond that rate. |
| Accreditation | AcreTrader: accredited investors only ($200K income or $1M net worth). Steward: no accreditation requirement — open to all US residents. |
| Tax treatment | AcreTrader: K-1 with depreciation deductions, 1031 exchange eligibility, estate planning benefits. Steward: 1099-INT interest income only — simple but no tax advantages. |
| Liquidity | AcreTrader: 5–10 year illiquid (verified holds: 1.1–4.2 years in practice). Steward SRC: 3-month notice withdrawal. Steward direct deals: locked to loan maturity. |
| SEC oversight | AcreTrader: Reg D Form D filings on SEC EDGAR (139 tracked offerings). Steward: no SEC registration — promissory note structure outside Reg D. All data self-reported. |
Premium equity complexity vs retail credit simplicity
FarmTogether vs Steward
FarmTogether and Steward occupy opposite ends of the agriculture investment accessibility spectrum. FarmTogether is the most complex of the three platforms — five product structures, high minimums, permanent crop specialization, layered fees, and 5-10 year illiquid commitments designed for sophisticated accredited investors with large portfolios. Steward is built for accessibility — $100 minimum, no accreditation, fixed monthly income, simple 1099-INT. They rarely compete for the same investor.
Practical answer
Use FarmTogether when you are a sophisticated accredited investor seeking product flexibility, permanent crop exposure, the Sustainable Farmland Fund, or TIC structures for 1031 needs. Use Steward when you want fixed monthly income from agriculture without accreditation requirements, minimums, or multi-year lockups.
| Decision factor | What changes |
|---|---|
| Complexity | FarmTogether: five product structures with different minimums, fees, liquidity, and tax treatment — requires significant diligence per structure. Steward: two products (SRC fund, direct deals) with simple fixed-rate mechanics. |
| Minimum | FarmTogether: $15K crowdfunding, $50K Sustainable Fund, $3M+ bespoke/SMA. Steward: $100 across all products. |
| Liquidity | FarmTogether Sustainable Fund: 2-year lockup then conditional quarterly redemptions. FarmTogether crowdfunding: 5–10 year illiquid. Steward SRC: 3-month notice. |
| Fee visibility | FarmTogether: layered fees vary by product (1.0%–2.0% management, acquisition fees, operating expenses) — requires PPM-level review. Steward: no fees to lenders — revenue comes from borrower-lender spread. |
| Ideal use case | FarmTogether for sophisticated accredited investors with specific product needs (fund, TIC, bespoke). Steward for non-accredited or low-capital investors wanting agriculture fixed income. |
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Scenario Analysis
$10,000 · Same goal · Three platforms
What the structure differences actually mean for a $10,000 agriculture allocation.
Same capital. Same sector. Completely different investment experiences.
| What happens with $10,000 | AcreTrader | FarmTogether | Steward (SRC) |
|---|---|---|---|
| Can you invest at all? | No — minimum $15K–$25K. Must be accredited. | No — minimum $15K crowdfunding. Must be accredited. | Yes — no minimum barrier, no accreditation. |
| Annual income (year 1) | N/A below minimum | N/A below minimum | ~$750 at 7.5% APR (paid monthly) |
| Tax document | K-1 (extension risk) | K-1 (extension risk) | 1099-INT by January 31 |
| Earliest access to capital | 5–10 years (or earlier via institutional buyer) | 5–10 years (or quarterly fund window after 2-yr lockup) | 9 months + 3-month notice |
| Platform fees on $10K | ~$75/yr at 0.75% + acquisition + ops | ~$100–200/yr at 1.0–2.0% + layered fees | $0 |
| Verdict at $10K | Below minimum — save toward $15K–$25K threshold | Below minimum — save toward $15K threshold | ✓ Fully accessible — fixed monthly income from day one |
AcreTrader + FarmTogether
Both require minimum $15,000–$25,000. $10,000 is below the threshold for both platforms. You cannot invest until you reach the accredited investor minimum for each.
Steward ← Accessible at $10K
$10,000 in Steward SRC generates approximately $750/year at 7.5% APR, paid monthly. No fees, no accreditation, 1099-INT in January. Capital accessible via 3-month notice after 9-month initial term.
Illustrative only. AcreTrader and FarmTogether returns are variable projections. Steward return is contractual fixed rate. All figures as of May 2026.
Find out which platform you should actually be using →2026 Market Context
What's changing in agriculture investing in 2026
Farmland valuations have stabilized
After double-digit appreciation in 2021-2022, U.S. cropland values rose an estimated 4–5% in 2025 to a record ~$5,830/acre. The era of rapid appreciation has normalized into steadier income-driven returns — which benefits platforms with strong lease income (AcreTrader, FarmTogether) and reduces speculative return expectations.
The "One Big Beautiful Bill" tax provisions
The 2025-2026 OBBB legislation increased estate tax exemptions to $15M per individual ($30M per couple) — meaningfully improving the estate planning case for AcreTrader and FarmTogether equity positions. New capital gains deferral for long-leased farmland also benefits equity platform investors. Steward lenders see no material impact from these provisions.
Water risk is now underwriting risk
In the 2026 environment, properties with senior water rights command premium valuations. FarmTogether's permanent crop focus in California and the Pacific Northwest makes water diligence especially material — almond and pistachio orchards require consistent irrigation. AcreTrader's Midwest row crop concentration has lower water risk. Steward's loan collateral is less dependent on geographic water conditions.
Regenerative agriculture gaining institutional interest
The "de-chemicalization" trend and protein quality resurgence (beef tallow, heritage pork) are driving capital toward regenerative operators — Steward's entire portfolio. AcreTrader acquired by Proterra Investment Partners in August 2025, adding institutional backing. FarmTogether holds Leading Harvest ESG certification across its portfolio. All three platforms position around regenerative practices; Steward's borrowers are exclusively regenerative.
Final View
The platform decision is the investment thesis.
AcreTrader and FarmTogether are the same asset class with different crop tilts and product menus. Steward is a different asset class entirely — debt, not equity. Mixing them in a comparison is useful because many investors genuinely need to choose between fixed income access now (Steward) and equity tax efficiency later (AcreTrader or FarmTogether) — not because they are interchangeable.
The investors for whom this comparison matters most are often non-accredited investors who cannot access AcreTrader or FarmTogether at all — Steward is their only option. Or mission-aligned investors who want monthly income from regenerative agriculture without 5-year illiquidity. AcreTrader and FarmTogether serve accredited investors who want equity participation and tax efficiency — that is a real and valuable use case, but it is a different use case.
AltStreet verdict
Start with whether you are accredited. That eliminates the comparison for most people.
Non-accredited: Steward is the only option. Accredited investors with 5+ year liquidity tolerance: AcreTrader for verified track record, FarmTogether for product flexibility or TIC needs. Accredited investors who want monthly income without farmland illiquidity: Steward.
Related Resources
AcreTrader platform review
Full fee structure, 15 AltStreet-verified exits (9.4%–30.3% IRR), SEC Form D analysis, hold period data, and investor fit.
FarmTogether platform review
Five product structures, permanent crop risk analysis, Sustainable Farmland Fund audit details, TIC mechanics, and fee transparency gaps.
Steward platform review
Zero default track record analysis, 26-quarter financial time series, concentration risk deep dive, promissory note structure, and spread compression history.
Private credit investing hub
How to evaluate private credit platforms: yield analysis, default rate verification, spread economics, and investor protections.
Fractional farmland investing hub
AcreTrader, FarmTogether, Harvest Returns, and direct farmland — how to choose, what to verify, and the tax efficiency matrix.
AltStreet early access
Cross-platform agriculture deal intelligence, verified exit data, fee-adjusted return modeling, and default rate tracking. Launching Q3 2026.
Frequently Asked Questions
1. What is the difference between AcreTrader, FarmTogether, and Steward?
AcreTrader and FarmTogether both give accredited investors fractional equity ownership in farmland — you own LLC membership interests in specific farms and receive K-1s, depreciation deductions, and potential 1031 exchange eligibility. Steward is fundamentally different: it is a lending platform, not an equity platform. Steward lenders make promissory note loans to regenerative farms and food businesses and receive fixed monthly interest income (7.5% APR for the SRC fund). No equity upside, no K-1, no depreciation — but also no accreditation requirement and a $100 minimum. The three platforms serve different risk/return profiles in the same agricultural sector.
2. Which platform has the lowest minimum investment?
Steward wins decisively: $100 minimum with no accreditation required — the most accessible agriculture investment product in the market. AcreTrader minimum is $15,000–$25,000 per farm (accredited only). FarmTogether minimum is $15,000 for crowdfunding, $50,000 for the Sustainable Farmland Fund, and $3M+ for bespoke/SMA offerings (all accredited only). If you are not an accredited investor, Steward is the only option among these three.
3. Which platform offers better tax advantages: AcreTrader or FarmTogether?
Both AcreTrader and FarmTogether offer genuine tax advantages unavailable on Steward: K-1 pass-through tax reporting, annual depreciation deductions (sheltering farm income), 1031 exchange eligibility (defer capital gains from farm sale into new farmland), and estate planning benefits (Section 2032A special valuation, step-up in basis at death). FarmTogether also offers a TIC (tenancy-in-common) structure specifically designed for 1031 exchange buyers. Steward issues 1099-INT for simple interest income — no depreciation, no 1031, no K-1 complexity.
4. Is Steward safer than AcreTrader or FarmTogether?
Different risk profiles, not better or worse. Steward loans (zero defaults reported, self-reported, unaudited; $44M+ deployed since 2021) return fixed interest with collateral security — but lenders absorb credit risk from farm business failure. AcreTrader and FarmTogether investors own farmland equity — land itself historically retains value but returns vary with commodity prices, crop conditions, and operator performance. Steward has no SEC oversight and self-reported unaudited financials. AcreTrader and FarmTogether file Form D with the SEC. Neither is inherently 'safer' — they have structurally different risk exposures.
5. Which platform is best for IRA investing?
Steward is the cleanest for traditional IRAs and Roth IRAs: interest-only income with zero UBTI complications, simple 1099-INT reporting, no K-1 required. AcreTrader and FarmTogether involve pass-through entities with K-1 tax reporting — IRAs can hold these but some investors encounter UBTI if the underlying farms use leverage. All three can work with self-directed IRAs, but Steward requires the least custodian complexity.
6. What returns should I expect from each platform?
Steward SRC fund: 7.5% fixed APR (8.0% with rollover). Direct Steward deals: 6.0–10.5% fixed interest depending on structure. AcreTrader: 7–9% target net IRR combining crop income (2-5%) and land appreciation (4-7%), with verified actual IRRs ranging from 9.4% to 30.3% across 15 AltStreet-confirmed exits. FarmTogether: 6–13% target net IRR depending on crop type — permanent crops target higher yields with higher risk. Critical difference: Steward returns are fixed and contractual. AcreTrader and FarmTogether returns are variable equity outcomes — the target IRR is a projection, not a guarantee.
7. How liquid are investments on each platform?
Steward SRC fund: 3-month notice for withdrawal — best practical liquidity of the three. Steward direct deals: locked to maturity (2 months to 360 months depending on loan). AcreTrader: 5–10 year illiquid hold, no secondary market guarantee — verified actual holds range from 1.1 to 4.2 years based on AltStreet exit data. FarmTogether crowdfunding: 5–10 year illiquid. FarmTogether Sustainable Farmland Fund: 2-year lockup then quarterly redemption windows (conditional, not guaranteed). None of these are liquid assets.
8. Do I need to be an accredited investor for AcreTrader, FarmTogether, or Steward?
AcreTrader: accredited investors only. FarmTogether: accredited investors only. Steward: no accreditation requirement — open to all US residents with $100. This is Steward's most distinctive structural feature. The $200,000 income or $1,000,000 net worth accreditation thresholds effectively exclude most retail investors from AcreTrader and FarmTogether. Steward intentionally designed its promissory note structure to bypass this restriction.
9. Which platform has better farmland data and track record transparency?
AcreTrader leads on exit transparency: AltStreet has verified 15 exits with specific IRRs (9.4%–30.3%) and hold periods. AcreTrader also files Form D with the SEC (139 tracked offerings via EDGAR). FarmTogether files Form D on its crowdfunding offerings and has an audited Sustainable Farmland Fund (Moss Adams), but publishes no individual deal exit summaries. Steward publishes quarterly performance reports going back to August 2021 — more financial statement transparency than either equity platform — but all figures are self-reported, unaudited, and cannot be verified via EDGAR.
10. What is the 'One Big Beautiful Bill' and how does it affect farmland investors?
The 2025-2026 'One Big Beautiful Bill' (OBBB) included meaningful agricultural tax provisions: estate tax exemption increased permanently to $15M per individual ($30M per couple), protecting large family farm transfers. New capital gains deferral allows sellers of long-leased farmland to defer gains over four years. Crop insurance subsidies increased 3–5%. These provisions primarily benefit AcreTrader and FarmTogether equity investors (estate planning, capital gains deferral) and large farm operators. Steward lenders receive fixed interest income — ordinary income under any tax regime — and see minimal direct impact from these provisions.
Important Disclosures
This page is educational and does not constitute investment, tax, or legal advice. Agriculture investing involves illiquidity, limited disclosure, operational risks, and the potential for loss of capital. Platform fee structures, minimums, and features can change; verify current terms directly with each platform before committing capital.
AltStreet has no affiliate, sponsored, or paid relationship with AcreTrader, FarmTogether, or Steward. All data in this comparison is derived from publicly available platform materials, SEC EDGAR Form D filings, quarterly performance reports, balance sheets, individual project pages, NMLS public records, and independent platform dossier research conducted May 4, 2026. AcreTrader exit data (15 verified exits, 9.4%–30.3% IRR range) reflects AltStreet database analysis as of April 2026. Steward financial data (26 quarterly performance periods, Q1 2023–Q3 2025 loan book) reflects AltStreet database analysis as of May 2026. No compensation was received from any platform for inclusion or positioning in this comparison.
AcreTrader acquisition by Proterra Investment Partners (August 2025) and the "One Big Beautiful Bill" tax provisions are based on available reporting as of May 2026. Investors should review current offering documents and work with qualified tax and financial advisers before committing capital to any private market investment.