Streitwise vs RealtyMogul 2026: Two $10 REITs, One Exit Still Open

For a new investor choosing between these two today, Streitwise is the only available option, and that is not the same as saying it has the superior expected return. Both are Regulation A Tier 2 non-traded REITs that sold shares to the public at $10.00, and both marked their shares within eleven cents of each other at the same measurement date: RealtyMogul Income REIT at $6.85 per share as of March 31, 2026, Streitwise at $6.96 as of March 31, 2026. The difference is what happens when you want out. RealtyMogul's board suspended its Share Repurchase Program effective April 21, 2026, and the filing states the company 'ceased repurchasing shares of its Common Stock pursuant to the SRP and is no longer accepting or processing any repurchase requests submitted pursuant to the SRP on or after April 21, 2026'. Streitwise's stockholder redemption plan still operates: capped per quarter, filled pro rata, discounted until year five, but paying, with $3,266,951 of redemptions paid across the offering's life. RealtyMogul is also closed to new capital, its second follow-on offering having expired May 13, 2025 with a New Subscription Pause in effect since July 11, 2025, while Streitwise requalified in January 2026 and remains open. What RealtyMogul has that Streitwise does not is scale and diversification: $148,194,000 raised against $22,013,727, and sixteen joint-venture and preferred-equity positions against three office buildings.

The filing gives the reason in its own words. In a Form 1-U dated April 29, 2026, RealtyMogul Income REIT disclosed that on April 21, 2026 its board of managers approved the suspension of the Share Repurchase Program 'to preserve liquidity and financial flexibility as the Company actively manages through a period of portfolio transition'. The same filing discloses that the manager, RM Adviser, LLC, suspended the Distribution Reinvestment Plan on the same day 'to limit ongoing issuances of shares of Common Stock and maintain greater control over capital activity', following the expiry of the second follow-on offering on May 13, 2025. The FY2025 annual report repeats it: 'Effective April 21, 2026, our board suspended the share repurchase program to preserve liquidity'. Note what the filings do not say: they do not attribute the suspension to redemption requests exceeding the program's annual cap. AltStreet's own earlier entity note gave that as the reason and was corrected on September 14, 2026 against the filing. The stated reason is liquidity preservation during portfolio transition, which is a broader statement about the fund's condition than a mechanical cap breach would be.

From Streitwise, subject to real constraints. From RealtyMogul Income REIT through its repurchase program, currently no. Streitwise operates a quarterly stockholder redemption plan with a one-year lockout from each purchase, then 90.0% of NAV in years one to two, 92.5% in years two to three, 95.0% in years three to four, 97.5% in years four to five, and 100% at five years or on death or complete disability. Requests are capped per quarter, filled pro rata, and the platform concedes a queue 'could take several quarters'. It has paid $3,266,951 across the offering's life, and in FY2025 it repurchased 94,184 shares for $629,226 while issuing only 41,531 for $289,633. RealtyMogul Income REIT's Share Repurchase Program was suspended effective April 21, 2026 and the company states it is no longer accepting or processing requests submitted on or after that date. Its shares do not trade, so no secondary market substitutes for the program. Neither security is liquid; the distinction is between rationed and closed.

Marginally Streitwise, and the gap is small enough that it should not drive a decision. Both began at $10.00 per share. RealtyMogul Income REIT's FY2025 annual report states that 'our NAV per share has declined from its initial value of $10.00 per share to $7.49 as of December 31, 2025, primarily due to broader market conditions, including capitalization rate expansion associated with rising interest rates, operating cost pressures, and modest rental growth', and the March 31, 2026 NAV announced on June 1, 2026 is $6.85. Streitwise peaked at $10.16 in June 2021 and its March 31, 2026 NAV, effective as the purchase price from July 1, 2026, is $6.96. Both marks are the manager's calculation rather than a market price, both are quarterly, and neither has been tested by a broad disposition program. The similarity is the point: two differently managed, differently sized, differently diversified Reg A commercial REITs arrived at almost the same number, which is consistent with broad private commercial real estate repricing rather than with either manager materially outperforming the other.

Streitwise's fee stack is the simpler of the two and is stated verbatim in its FY2025 annual report: 'The Company pays the Manager a quarterly asset management fee at an annualized rate of 2.00%, which is based on the Company's NAV at the end of each prior quarter', amounting to $470,974 in FY2025 and falling $63,487 from the prior year because NAV fell. AltStreet located no promote, waterfall, acquisition fee or disposition fee in the Streitwise filings it reviewed, and $1,078,385 of organization and offering costs were waived by the Original Sponsor rather than charged. One imprecision on the Streitwise side: its fee page lists property management fees among fees it does not charge, while the FY2025 1-K reports $317,337 of property management expense borne by the company, and the filings reviewed do not identify the recipient. RealtyMogul Income REIT is externally managed by RM Adviser, LLC with a fee structure set out in its own offering circular and annual reports; investors comparing the two should read RealtyMogul's current fee disclosure directly rather than rely on a summary, because its offering status changed in 2025 and 2026 and the documents have moved with it.

No, on two separate grounds disclosed in its filings. Its second follow-on offering expired on May 13, 2025, three years from the qualification date, subject to a 180-day grace period. Separately, the manager implemented what the filings call a New Subscription Pause effective July 11, 2025, which the June 1, 2026 Form 1-U confirms 'still remains in effect'. The company states it plans to resume the Second Follow-on Offering at a later date and expects to offer shares directly to investors through the online Realty Mogul Platform. Streitwise, by contrast, has been continuously qualified since September 13, 2017 across nine qualifications, the most recent on January 15, 2026, and is open: the price effective July 1, 2026 is $6.96 per share. An investor choosing between these two today is choosing between an open offering and a closed one.

RealtyMogul, substantially, and this is the finding that should give investors most pause. RealtyMogul Income REIT raised $148,194,000 and issued approximately 14,592,000 shares as of December 31, 2025, deployed across a portfolio of joint-venture and preferred-equity positions in multiple property types and geographies. Streitwise raised $22,013,727 and owns three multi-tenant office buildings, two of them in the same Indiana suburb, which its own annual report aggregates into 'one reportable segment'. On conventional measures of scale and diversification, RealtyMogul is clearly the larger and broader of the two. It is also the one that stopped accepting repurchase requests. Diversification did not preserve this fund's exit, and an investor who assumed that a larger, broader Reg A REIT would therefore be the more liquid one would have chosen wrong on the only dimension that turned out to be binary.

Streitwise suits an investor who wants a small, readable Reg A office REIT with an unusually simple 2.00% fee, nine years of continuous qualification, clean audits, no litigation, no going-concern qualification, and a redemption path that currently functions, and who can hold long enough to be eligible under the current schedule for redemption at 100% of NAV after five years, subject to the plan's caps and its continued operation, while accepting three-building concentration, roughly 56% leverage, a manager-calculated price, and a current yield the issuer itself states as 2.3%. Avoid both if you need capital inside twelve months, if you would treat a manager-set NAV as a market price, or if your thesis depends on advertised historical yields rather than current declared rates. For existing RealtyMogul holders the practical question is not whether to switch but what to do while the program is suspended, and the answer the filings support is to read each quarterly NAV announcement and each 1-U as they arrive, because the company has said it intends to resume the offering and has not said when repurchases resume. Neither security is a substitute for liquid real estate exposure, and both should be sized as illiquid long-hold allocations.