--- title: "RealBricks Review 2026: $100 Shares of Rental Homes, What the Neptune REM Filings Show and How the Secondary Market Is Pricing Them" url: https://altstreet.investments/platforms/reviews/realbricks kind: platform-review updated: 2026-10-27 description: "RealBricks review 2026: how the $100 Neptune REM home series work, where the series' money is held, what Terra Mint charges, comparable sales, how dividends were covered and what the secondary market shows." publisher: AltStreet (https://altstreet.investments) license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted. --- # RealBricks Review 2026: $100 Shares of Rental Homes, What the Neptune REM Filings Show and How the Secondary Market Is Pricing Them RealBricks sells $10 interests in individual single-family rental homes, $100 minimum, open to non-accredited investors through per-home series of Neptune REM, LLC under Regulation A. Its parent and manager, Terra Mint Group, sold several of the homes to the series at prices it set, lends to them, manages the homes and holds money the series raised: at June 30, 2026 the series held no cash of their own and carried receivables from Terra Mint of up to $209,137 each. The asset management fee is 0.75% of a home's purchase price every quarter, 3% a year, which the filed fee charges confirm. The secondary board on October 27 displayed no bids on any listed series and last prices of $5.00 to $8.00 against $10. AltStreet score: 26.9 (F), scored October 28, 2026. Method: https://altstreet.investments/platforms | Field | Value | | --- | --- | | Platform | RealBricks | | What it is | Fractional Single-Family Rental Platform (Regulation A Tier 2 per-home series, with an in-app secondary market routed to an ATS) | | Asset class | Interests in per-home series LLCs, each holding one single-family rental home | | Website | realbricks.com | | Review first published | October 27, 2026 | | Last updated | October 27, 2026 | | AltStreet relationship | None: no affiliate, sponsorship or partnership | ## The short version RealBricks, run by Terra Mint Group, Corp. of Norfolk, Nebraska, sells $10 interests in one home at a time through a series of Neptune REM, LLC, a Tier 2 Regulation A issuer qualified in June 2024, so anyone can start with $100. Rent less fees is paid out as dividends when declared, each series pays corporate tax and investors receive a 1099-DIV, and the home is sold when the manager decides. Terra Mint is on every side of the arrangement. It sold the four Omaha homes to their series from its own inventory at prices it set, without a third-party valuation, and financed them with its own notes; it manages the homes and collects the rent; and the series' money passes through it: at June 30, 2026 no series held cash, and Woody Creek, Stag and Blanton carried receivables from Terra Mint of $193,603, $209,137 and $160,425 while still owing it on their notes. Terra Mint charges 0.75% of each home's purchase price every quarter, 3% a year, plus 8% of rent; on Blanton that is about $13,300 a year against $31,200 of gross rent. Dividends in the first half of 2026 exceeded each Omaha series' net income plus depreciation and were covered, in the cash-flow statement, by amounts left owing to Terra Mint. Three homes have been sold, two of them for $350,000, $10,000 below the price their series paid, and two proposed purchases were cancelled. On October 27 the secondary board displayed no standing bids on any listed series. Neptune REM itself held $3,664 of cash at June 30, 2026 and carries a going-concern warning; Terra Mint's current finances are not public. - **$209,137** Stag's receivable from Terra Mint at June 30, 2026, the largest of three: Woody Creek's was $193,603 and Blanton's $160,425. No series held cash of its own; the series' money is a claim on the manager, whose current finances are not public. - **0.75% a quarter** Terra Mint's asset management fee on each home's purchase price, 3% a year. The 1-SA's charges reconcile to it: Woody Creek's $5,760 for the half-year is exactly 0.75% twice on $319,998 plus 8% of rent. - **$350,000** Sale price of Stag (February 2026) and Cedar Ridge (July 2025), $10,000 below the $360,000 each series paid Terra Mint for the house; Stag is the same model as Blanton next door, and Cedar Ridge the same as Dalmore. - **0 bids** Standing bids displayed on the secondary board on October 27, 2026 for Dalmore, Woody Creek and Blanton, with 19 to 24 asks each and last prices shown of $5.00, $8.00 and $5.20 against $10. The data carries no trade dates or volumes. - **$3,664** Neptune REM's consolidated cash at June 30, 2026, with a $504,614 working-capital deficit and a going-concern warning on Neptune REM and each series. This is the issuer's figure, not Terra Mint's. Data note: Filed figures from Neptune REM's PQA No. 9 (October 2, 2026), FY2025 1-K and June 30, 2026 1-SA. Subscriptions and order-book figures from the RealBricks property API as served October 27, 2026; AltStreet did not trade. The fee reconciliation, the distribution comparison and the Blanton illustration are AltStreet's arithmetic on the filed numbers. ## Key figures | Figure | What it is | Context | | --- | --- | --- | | $209,137 | Money investors put into these series was being held by the company that runs the platform, so that company's solvency matters as much as the homes. | Stag's receivable from Terra Mint at June 30, 2026 (the sale proceeds Terra Mint holds for the series, less $13,479 applied to its payables); Woody Creek's was $193,603 and Blanton's $160,425, and no series held cash. The series' money is a claim on the manager; Terra Mint's current finances are not public. | | 0.75% a quarter | The asset management fee: 3% a year of purchase price, confirmed by the filed charges (Woody Creek: $5,760 in the half-year, exactly 0.75% twice on $319,998 plus 8% of rent). | On Blanton, $10,800 a year, about 35% of gross rent, before 8% property management. | | $350,000 | Sale price of Stag and of Cedar Ridge, $10,000 below the $360,000 each series paid Terra Mint for the house. | Stag is the same model as Blanton next door; Cedar Ridge the same as Dalmore. | | 0 bids | Standing bids displayed on October 27, 2026 for Dalmore, Woody Creek and Blanton, with last prices shown of $5.00, $8.00 and $5.20 against $10. | RealBricks data at one point in time; no trade dates or volumes; the circular names Dalmore as the only series on PPEX. | | $3,664 | Neptune REM's consolidated cash at June 30, 2026, with a $504,614 working-capital deficit and a going-concern warning. | The issuer's figure; Terra Mint's position is not disclosed. | ## Verdict RealBricks makes it easy to own $100 of a named rental home, and its circular is candid about how the business works. What it describes is a manager on every side of the arrangement: Terra Mint sold its own Omaha homes to the series at prices it set, lent them the money, manages the homes, charges 0.75% of each home's price every quarter plus 8% of the rent, decides when to sell and holds the series' money as receivables, and investors can remove it only after a fraud judgment. The record so far is consistent with that: two homes of the same models sold for $10,000 less than their series paid, dividends relied on amounts left owing to Terra Mint, and the secondary board displayed no standing bids. Investors' capital has been returned on every sale, at Terra Mint's discretion. Neptune REM held $3,664 of cash at mid-year and carries a going-concern warning, and Terra Mint's own finances are not public. Anyone considering it should ask for an appraisal, for where the series' cash is and for Terra Mint's current statements, and treat the money as tied up for years. **Best for** - Investors who want to try owning part of a rental home with a small amount they can afford to leave for many years, and who have read the series' section of the circular. **Look elsewhere if** - You need the money back within several years. - You want income you can rely on. - You want a price set by someone other than the seller. **Strengths** - A $100 entry into named single-family homes, open to non-accredited investors. - Audited annual statements with a column for every series, and a circular that discloses the related-party purchases, notes and sold and cancelled series in detail. - Investors' capital returned on every home sold so far. - An order book through a registered broker and ATS. **Limitations** - The series' money is held by Terra Mint as receivables; Terra Mint's current finances are not public. - An asset management fee of 0.75% of purchase price a quarter, 3% a year, plus 8% of rent. - Terra Mint set the prices of the homes it sold to the series; comparable homes sold for $350,000 against $360,000 paid. - No standing bids displayed on the secondary board; dividends exceeded the series' earnings before depreciation. - Going-concern warning; Neptune REM's cash was $3,664 at June 30, 2026. ## Who it fits | Investor | Fit | Why | | --- | --- | --- | | Small investors curious about owning part of a rental home | neutral | | | Investors seeking income | poor-fit | | | Investors who may need their money back | poor-fit | | ## Questions **How does RealBricks work?** You buy $10 interests, at least 10, in a series of Neptune REM, LLC that owns one rental home. Terra Mint Group, which runs RealBricks, manages the home, collects the rent, deducts its fees and pays quarterly dividends when it declares them. The home is sold when Terra Mint decides; listed series can also be offered on an in-app order book. **Is RealBricks legit?** It is a real company whose offerings are qualified by the SEC under Regulation A and whose statements are audited. The filings also show that its parent sold several homes to the series at prices it set, lends to them, holds their money as receivables and can be removed only after a fraud judgment, and that Neptune REM carries a going-concern warning. Read the circular, not just the app. **What fees does RealBricks charge?** Per the October 2026 circular: an asset management fee of 0.75% of the home's purchase price every quarter (3% a year; the filed charges confirm it), 8% of gross rent for property management, a sourcing fee of up to 7% of the purchase price, a disposition fee of 6% to 8% of the sale price and 20% of distributions above your capital. Secondary trades cost 1% each side plus a $2.50 platform fee per order. **Can I sell my RealBricks shares?** Listed series can be offered on an in-app order book; the October 2 circular names the Dalmore series as the one trading on PPEX. On October 27, 2026 the board displayed no standing bids on any listed series and last prices of $5.00, $5.20 and $8.00 against $10. Other series have no exit until the home is sold. The subscription agreement lets you request an 80% partial refund, but does not say when it applies or whether the company must agree. **What returns has RealBricks paid?** Dividends of $22,100 in 2025 and $25,934 in the first half of 2026 across all series; about 3% to 5% a year annualized for the three Omaha series in early 2026, more than each series earned before depreciation, with the difference covered by amounts left owing to Terra Mint. In Q3 2026 payments ranged from nothing to 1.3% for the quarter. The site's 5% figure is an estimate. **What happened to the homes RealBricks sold?** Templeton sold for $405,000 in 2024 and Cedar Ridge for $350,000 in 2025, after raising little; investors got their money back and Terra Mint forgave the rest of its notes. Stag sold for $350,000 in 2026; investors received their capital plus $4,539, while Terra Mint extended its $316,955 note to the series and holds the remaining proceeds for it. Two other purchases, Michter and Weller, were cancelled before completion and escrowed money refunded. ## Evidence appendix Platform website captured October 27, 2026. The RealBricks property API for every property ID; every Neptune REM filing, the subscription agreement and the SEC staff letters; Terra Mint's Form C and FY2023 statements; realbricks.com pages, articles, agreements and Wayback captures; app-store listings; legal searches. **Highlights** - 1-SA: 'the Manager received $205,000 of the proceeds from the sale of the Stag Property on behalf of Series Stag, which is included in accounts receivable - related party'. - PQA No. 9: 'Assets Under Management Fee: a 0.75% quarterly fee equal to 0.75% of the purchase price of a Series Asset'. - PQA No. 9: 'The $316,955 Stag Promissory Note was not repaid from the sale proceeds and was extended to June 30, 2027.' - PQA No. 9: 'no series of interests maintained any cash or cash equivalents'. - Subscription agreement, 2(c): 'Subscriber shall be entitled to request a partial refund in the amount equal to 80% of such Subscriber's purchase'. **Primary source pages** - Neptune REM, LLC Post-Qualification Amendment No. 9 (filed October 5, 2026): series table, fees, related-party transactions, Stag, Cedar Ridge, Templeton, Michter and Weller, going concern, secondary trading. - Neptune REM June 30, 2026 1-SA: statements of operations and cash flows by series, fee note, receivables, notes, deemed distributions; FY2025 1-K (Artesian CPA). - Subscription agreement filed with the June 10, 2026 post-qualification amendment, section 2(c). - SEC staff comment letters, December 2023 to November 2024. - Terra Mint Group Corp. Form C (May 21, 2024) and FY2023 reviewed statements. - webapi.realbricks.com property detail, primary and secondary endpoints (October 27, 2026). - realbricks.com home, how-it-works, about-us, fee guide, secondary market, tax, Q2 and Q3 2026 distribution articles, terms and secondary listing agreement. ## Related - Full review (HTML): https://altstreet.investments/platforms/reviews/realbricks - Every platform review: https://altstreet.investments/platforms/reviews - Methodology and scoring: https://altstreet.investments/platforms - Category hub: https://altstreet.investments/categories/fractional-real-assets --- Source page: https://altstreet.investments/platforms/reviews/realbricks Machine index: https://altstreet.investments/llms.txt AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.