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.
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What the data actually shows - TL;DR
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.
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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.
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.
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.
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.
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.
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.
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.
Quick Verdict
Is this platform right for you?
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.
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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.
Avoid 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.
Top 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.
Key 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.
Compare Before Deciding
Where RealBricks fits against alternatives
Use these hooks to pressure-test whether this is the right platform, or whether a nearby alternative matches the job better.
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Shares of single-family rental homes for retail investors under Regulation A.
How this compares to Ark7 Review
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Regulation A property series with trading on PPEX.
How this compares to Lofty Review
Lofty Review
Tokenized fractional rental homes.
Quick Answers
What most investors want to know first
The highest-signal facts first: minimums, liquidity reality, K-1 timing, and whether distributions are actually part of the experience.
Liquidity
Last prices shown $5.00 to $8.00 against $10, no standing bids displayed on any listed series; no trade dates or volumes in the data.
K-1 Timing
No K-1; 1099-DIV.
Distributions
Q2 2026 paid July 3, Q3 2026 paid October 5, per RealBricks.
Overview
Platform Overview
A concise read on what the platform is, how the structure works, and where the practical friction shows up for real investors.
Terra Mint Group, Corp. (Wyoming, 2021) owns and runs the RealBricks website and app and is the managing member, sole owner and property manager of Neptune REM, LLC, a Delaware series LLC. Each home sits in its own series, which sells interests at $10 with a 10-interest minimum to accredited and non-accredited investors under Regulation A Tier 2; Dalmore Group, LLC performs the KYC and AML checks and North Capital holds subscriptions in escrow until closing. Early homes in Omaha came from Terra Mint's own inventory; since 2025 the series buy new D.R. Horton homes, often before construction is finished, with Terra Mint lending the balance until the offering fills.
Terra Mint collects the rent, deducts its fees and pays quarterly dividends when it declares them. An in-app order book routes orders through Dalmore Group to North Capital's PPEX alternative trading system; the October 2 circular names the Dalmore series as the only one trading there. There is no set hold period; a home is sold when Terra Mint decides.
was incorporated in Wyoming in April 2021; its founders on the site are Chris Gerardi, now CEO, CFO and sole director, Kevin Cottrell, CEO until June 2025, and Ahmed Khaleel, who died in 2024 and whose estate sold 3,750,000 Terra Mint shares back to the company for $1.5 million in 2025. Neptune REM's first offering statement was filed in November 2023 and, after five rounds of SEC staff comments, qualified on June 27, 2024. The team is small: a compliance officer with broker-dealer experience joined in April 2026 and a strategy officer in August 2026, and the general counsel works 20 hours a week. The site claims 35,000 registered users; the API shows about 4,900 investor positions across eight live series and about $2.19 million subscribed.
What it is
Fractional ownership of single-family rental homes, one Regulation A series per home.
Investor eligibility
Accredited and non-accredited US investors, 18 or older; $100 minimum (10 interests at $10); up to 9.8% of a series per investor; entities and trusts since October 2026 (not on the secondary market).
Issuer and manager
Neptune REM, LLC (Delaware series LLC, CIK 1992001), wholly owned by Terra Mint Group, Corp. (Wyoming), which is managing member, property manager and platform operator.
Fees (October 2026 circular)
Asset management 0.75% of purchase price a quarter (3% a year); property management 8% of gross rent; sourcing fee up to 7% of purchase price; disposition 6% to 8% of the sale price; renovation 5.5%; 20% of distributions above capital; trading 1% each side plus a $2.50 platform fee per order (site).
Track record
13 series offered since 2024: 8 live (about $2.19M subscribed), 3 properties sold, 2 proposed purchases cancelled; dividends $22,100 (2025) and $25,934 (first half 2026).
Liquidity
In-app order book through Dalmore Group and PPEX; the circular names the Dalmore series only; no standing bids displayed on October 27; no hold period or sale date.
Reporting
Audited annual statements per series (Artesian CPA, going-concern paragraphs), semiannual reports; 1-SAs filed 1 and 3 days late in 2025 and 2026; 1099-DIV.
Visual Summary
The thirteen series: eight live, three sold, two cancelled
House price is what the series paid for the home. Maximum offering is the house price plus fees and costs at $10 an interest. Subscriptions and order-book figures from the RealBricks API on October 27, 2026; outcomes from PQA No. 9 and the June 30, 2026 1-SA.
Dalmore (Omaha)
House price / maximum offering
$360,000 from Terra Mint / $394,830
Subscribed
99.3%, 704 investors
Status
Board: last $5.00, lowest ask $4.90, no bids; named in the circular as trading on PPEX
Woody Creek (Omaha)
House price / maximum offering
$319,998 from Terra Mint / $351,650
Subscribed
99.5%, 790
Status
Board: last $8.00, no bids; $193,603 receivable from Terra Mint
Blanton (Omaha)
House price / maximum offering
$360,000 from Terra Mint / $400,300
Subscribed
99.1%, 824
Status
Board: last $5.20, no bids; $160,425 receivable from Terra Mint; vacant in Q3 2026
Garrison, Macallan, Jameson (Princeton, TX)
House price / maximum offering
D.R. Horton new builds, $215,000 to $229,990 / $250,310 to $267,890
Subscribed
99% to 99.7%
Status
Leased in 2026; Macallan's expenses exceeded rent in Q3
Melwood (Louisville), Rossville (Memphis, IN)
House price / maximum offering
D.R. Horton new builds, $280,000 and $259,900 / $327,440 and $303,930
Subscribed
38.8% and 52.3%
Status
Open; Terra Mint notes of $183,150 and $176,355
Stag (Omaha), sold
House price / maximum offering
$360,000 from Terra Mint / $400,300
Subscribed
22.7%, 251
Status
Sold for $350,000, February 2026; capital returned plus $4,539; Terra Mint's note extended
Cedar Ridge and Templeton (Omaha), sold
House price / maximum offering
$360,000 and $380,000 from Terra Mint / $394,830 and $415,950
Subscribed
1.5% and 0.3%
Status
Sold for $350,000 (2025) and $405,000 (2024); money returned; note balances forgiven
Michter (TN), Weller (NC), cancelled
House price / maximum offering
D.R. Horton contracts at $299,990 and $282,760
Subscribed
Escrowed subscriptions only
Status
Purchases not completed (decision December 19, 2025); refunds May 18 and June 26, 2026
Investor Operations
The practical questions investors actually care about: when tax documents arrive, how cash distributions work, and whether capital can be exited before the underlying asset is sold.
Tax Documents
K-1 Timing
What to expect
No K-1; 1099-DIV.
Cash Flow
Distributions
Frequency
Quarterly, if declared.
Timing
Q2 2026 paid July 3, Q3 2026 paid October 5, per RealBricks.
Consistency
Short record: $22,100 in 2025 and $25,934 in the first half of 2026, exceeding the Omaha series' net income plus depreciation; several series paid nothing in Q3 2026.
Liquidity
Exit Reality
Holding period
No contractual lockup; no hold period or sale date.
Exit options
- Limit orders on the secondary market for listed series (no standing bids displayed on October 27, 2026).
- Sale of the home at the manager's discretion.
- A request for an 80% partial refund under the subscription agreement, scope unstated.
Secondary market
Last prices shown $5.00 to $8.00 against $10, no standing bids displayed on any listed series; no trade dates or volumes in the data.
Investment Structures
Series interests (existing homes)
Dalmore, Woody Creek and Blanton in Omaha, bought from Terra Mint; fully subscribed; displayed on the secondary board.
Series interests (new builds)
D.R. Horton homes in Princeton, Texas, Louisville and Memphis, Indiana; bought during or after construction with Terra Mint financing the unsold balance.
Risk
Risk Structure
This is where the marketplace pitch gives way to the actual operating reality: delayed exits, limited disclosure, fee drag, and path-dependent outcomes.
Counterparty
Series hold no cash; their money and Stag's sale proceeds are receivables from Terra Mint; Terra Mint's finances are public only for 2023.
Related-party pricing
Terra Mint set the price of the homes it sold to the series, without third-party valuation; two homes of the same models sold for $350,000 against the $360,000 their series paid.
Fees
Asset management 0.75% of purchase price a quarter (3% a year), 8% property management, sourcing up to 7%, disposition 6% to 8%; trading 2% plus $2.50 an order.
Liquidity
No standing bids displayed on the board on October 27; trading status of series other than Dalmore not stated in the filings; no sale date.
Control
Manager removable only after a non-appealable fraud judgment and a two-thirds vote; it decides sales, dividends and whether to finance purchases.
Going concern
Substantial doubt on Neptune REM and each series in the FY2025 audit; Neptune REM held $3,664 of cash at June 30, 2026.
Investors carry Terra Mint's credit
The series' money is held by Terra Mint as receivables, and Terra Mint's current finances are not public.
Why it matters
If Terra Mint could not pay what it holds for a series, that series would have its home and its debts but not the money investors paid in.
Mitigation / verification
Ask where each series' cash is held, whether the receivable earns interest and for Terra Mint's latest financial statements.
A 3% annual fee on purchase price
0.75% of purchase price every quarter, confirmed by the filed charges, plus 8% of rent.
Why it matters
On Blanton the two together take about 43% of gross rent before taxes, insurance and repairs.
Mitigation / verification
Compare the fee with the home's rent before investing; ask whether any fee is waived or deferred for your series.
Related-party prices above comparable sales
Two homes of the same models as Dalmore and Blanton sold for $350,000, below the $360,000 their series paid Terra Mint.
Why it matters
After selling costs and fees, a sale at that price would leave well under $10 an interest for Blanton before the series settles its liabilities.
Mitigation / verification
Ask for an appraisal and for how Terra Mint set the price of each home it sold to a series.
Limited displayed liquidity
No standing bids displayed for any listed series, and last prices shown of $5.00 to $8.00 against $10.
Why it matters
An investor who needs money back may have to sell well below $10 or wait for a sale the manager controls.
Mitigation / verification
Invest only money you can leave for many years; check the order book, and ask for recent trade history, before buying.
Regulatory & Legal Posture
Security Status
Series interests offered under Regulation A Tier 2 by Neptune REM, LLC (File 024-12356), first qualified June 27, 2024; Post-Qualification Amendment No. 9 qualified October 14, 2026. Open to non-accredited investors within Tier 2's investment limits.
Tier 2 requires audited annual reports and semiannual reports, which Neptune REM files. Qualification by the SEC is not an approval of the offering or its price.
- SEC staff comment letters (December 6, 2023 to November 26, 2024) asked the company to reconcile 'Sell your shares whenever you want' and 'trade your shares just like a blue chip stock' on its website with its illiquidity risk factors, and to remove an operating-agreement jury waiver that covered federal securities claims; the filings were revised before qualification.
- 1-K reports filed on time for 2024 and 2025; 1-SA reports filed one business day late in 2025 and three days late in 2026.
- Terra Mint Group Corp. filed a Form C on May 21, 2024 (common stock at $8, $25,000 target, Dalmore Group as intermediary); no Form C-U, C-AR or C-TR follows it on EDGAR.
- Pending suit: KVW Consulting, LLC v. Terra Mint Group, Corp. d/b/a Realbricks and Christopher R. Gerardi, U.S. District Court for the District of Wyoming, No. 1:26-cv-00295, filed October 15, 2026. A former consultant claims at least $300,000 plus the value of 250,000 shares under a contract Terra Mint terminated in July 2026; as the complaint reports it, Terra Mint asserted cause. Allegations only; no answer had been filed. Neptune REM is not a party.
- The circular discloses that the CEO, Chris Gerardi, 'was the subject of two personal bankruptcy proceedings in 2006 and 2013': Bankr. D. Colo. 06-17066 (Chapter 7, 2006) and 13-28288 (Chapter 13, 2013).
- No SEC, FINRA or state action naming RealBricks, Neptune REM, Terra Mint or their officers was located in the stated searches as of October 27, 2026: the SEC action lookup and EDGAR full-text search; FINRA BrokerCheck and IAPD for the firms and each officer; Nebraska's orders database (all dates); every Texas State Securities Board administrative order from September 2019 to August 2026; Wyoming's enforcement page; CourtListener's federal and bankruptcy dockets; and the CFPB complaint database. Colorado's securities site blocks automated access, Kentucky's order list could not be located and Indiana's search requires a reCAPTCHA, so those three are covered by web search only; state court dockets were not searched. Dalmore Group, the broker of record, settled FINRA matters in 2021 ($40,000) and 2024 ($375,000), neither involving RealBricks. Trustpilot shows 4.3 from 23 reviews; Google Play 4.0 from 122; BBB has no profile.
Disclosure Quality
The circular is unusually explicit about related-party purchases, notes, waivers and the sold and cancelled series; the website and app omit fee periods and the platform fee, contradict the documents on refunds and tax treatment, and show estimated yields the record does not support.
Custody Model
Subscriptions held in escrow by North Capital Private Securities until closing; after closing, the series' money is held by Terra Mint and recorded as receivables; secondary-market cash with Modern Treasury.
Regulatory Backing
Dalmore Group, LLC (FINRA member, CRD 136352) for KYC/AML and as executing broker; PPEX is an ATS operated by North Capital Private Securities.
Tax Treatment
Reporting
Form 1099-DIV (each series elected to be taxed as a corporation).
Issued to investors receiving more than $10 of dividends, per RealBricks.
Income Character
Corporate dividends
Each series pays corporate income tax on its taxable income and distributes dividends; depreciation and losses stay inside the series and do not pass to investors. A gain on selling interests is a capital gain. A RealBricks article describes the structure differently (a disregarded entity inside Terra Mint's C corporation); the audited statements say each series elected corporate taxation. Consult a tax adviser.
Limitation
AltStreet is not a tax adviser.
Special Considerations
- Promotional bonus interests may be taxable income, per the circular.
- Dividends are reported where the investor lives, not where the home is, per RealBricks.
Account Suitability
Taxable
Yes.
Roth IRA
Not addressed by RealBricks.
Traditional IRA
Not addressed.
HSA
Not addressed.
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AltStreet Data Layer
What the data actually shows
The filings describe a small book of homes whose money, financing and pricing run through the manager; the fee charges confirm a 3% annual asset management fee.
Series money held by the manager
Receivables from Terra Mint of $193,603 (Woody Creek), $209,137 (Stag) and $160,425 (Blanton) at June 30, 2026; no series held cash.
What this means
Investors carry the credit of a parent whose current finances are not public.
Fee charges reconcile to 0.75% a quarter
Woody Creek $5,760, Blanton $6,616 and Dalmore $6,645 for the first half of 2026, against $5,760, $6,613 and $6,500 at 0.75% of purchase price a quarter plus 8% of rent.
What this means
The asset management fee is 3% of purchase price a year.
Dividends ahead of earnings
First-half 2026 dividends of $9,839, $7,026 and $6,390 against net income plus depreciation of $1,880, minus $5,391 and minus $3,469 (Dalmore, Woody Creek, Blanton).
What this means
Payouts were covered by amounts left owing to the manager.
Data as of 2026-10-27 . AltStreet platform_exits database . Confidence level 4
Full datasetDecision Fit
Investor Fit
Who this works for, who it does not, and what level of patience and complexity tolerance the platform really demands.
Small investors curious about owning part of a rental home
The $100 entry is real and the series are audited, but the price paid, the fees, the cash and the exit all run through a manager whose own finances are not public.
Investors seeking income
A 3% annual asset management fee plus 8% of rent, and payouts that so far exceeded what the series earned before depreciation.
Investors who may need their money back
No standing bids displayed on the board and no sale date.
Tradeoffs
Key Tradeoffs
The attraction of pre-IPO access is real, but every benefit comes bundled with a corresponding liquidity, transparency, or pricing cost.
Access
Each series is one home, priced by the manager that sold it.
Downside
At the manager's discretion; on Stag its own note was deferred, not forgiven, and the issuer holds $3,664 of cash.
Liquidity
No standing bids displayed and last prices shown well below $10.
Avoid
Who This Is Not For
This section should be read as a filter, not an afterthought. If you need income, simplicity, or near-term access to capital, the structure is working against you.
Investors who need liquidity
No standing bids displayed on the board and no sale date.
Income investors
Fees take a large share of rent, and payouts have relied on amounts owed to the manager.
Investors who rely on independent valuation
Home prices were set by the seller-manager without third-party valuation.
Editorial View
AltStreet Perspective
The compressed version of the review: what matters, what marketing tends to obscure, and how we would frame the platform for a serious allocator.
Verdict
RealBricks is a young, small operator whose filings show a manager financing, pricing and settling its own platform's deals. Investors have got their capital back on the three sales so far, but through a structure that is the opposite of arm's length and that depends on a parent whose current finances are not disclosed. The website sells the experience (a $100 share, a 5% estimate, a marketplace); the circular describes the risks in plain terms, and investors should rely on it.
Positioning
Against Arrived, which buys homes from third parties, publishes quarterly share prices and has a far longer record, RealBricks' early homes came from its own manager at prices it set. Against Ark7, also a Regulation A series platform with a parent receivable, a going-concern warning and trading on PPEX, RealBricks is about an eighth of the size and its board displayed no bids. Lofty sells similar small interests on a blockchain with daily rent payments.
The Bottom Line
A $100 way into single rental homes, sold, financed, managed and held by the same parent, for a fee of 3% of purchase price a year.
Action
Next Steps
If you still want to engage after reading the review, these are the practical next moves that reduce avoidable mistakes.
Ask where your series' cash is held, whether its receivable from Terra Mint earns interest, and for Terra Mint's latest financial statements.
Ask how Terra Mint set the price of each home it sold to a series, and for a current appraisal.
Compare the asset management fee (0.75% of purchase price a quarter) and the 8% property management fee with the home's rent.
Check the order book before buying, and ask for the series' recent trade history with dates and volumes.
Ask in writing when the subscription agreement's 80% partial refund applies and whether the company must grant it.
Read the series' section of the current offering circular, including the use of proceeds and the note to Terra Mint.
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Deal Intelligence →Appendix
Sources, Disclosures, and Supporting Context
The lower section is structured like a report appendix: relationship context first, adjacent reading second, and evidence last.
Report Appendix
Disclosure
Relationship and compensation context
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Report Appendix
Disclosure
Relationship and compensation context
Report Appendix
Related Resources
Adjacent platform comparisons, frameworks, and category links
+
Report Appendix
Related Resources
Adjacent platform comparisons, frameworks, and category links
Further Reading
Related Resources
Adjacent frameworks and reviews that help place the platform in a broader allocation or due-diligence context.
Fund Landscape
Frameworks
Similar Platform Reviews
- Arrived Review
Shares of single-family rental homes for retail investors under Regulation A.
- Ark7 Review
Regulation A property series with trading on PPEX.
- Lofty Review
Tokenized fractional rental homes.
Report Appendix
Verified Exit Data
AltStreet-sourced deal-level exit records — confidence level 4
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Report Appendix
Verified Exit Data
AltStreet-sourced deal-level exit records — confidence level 4
Report Appendix
Evidence & Methodology
18 cited passages on file; sources, scope, and how the review was assembled
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Report Appendix
Evidence & Methodology
18 cited passages on file; sources, scope, and how the review was assembled
Evidence on file
18 supporting passages on file for RealBricks and its offerings from 4 source documents, 6 discrepancies flagged. Each passage records the metric it supports, the value read from the document, the page, and the verbatim text where the document has it. Terminal subscribers read the passages; open them in the terminal.
- Cited passages
- 18
- Source documents
- 4
- Analyst verified
- 0
- Discrepancies flagged
- 6
ASReview Evidence
Methodology
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.
Scope
RealBricks, Terra Mint Group and the 13 series Neptune REM has offered. Terra Mint's statements after 2023, appraisals, trade history and the series' bank records were not obtained.
Key Findings
- *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'.
AltStreet Verified Data
Structured exit database - independently sourced
AltStreet's data layer carries one deal row per series (13), realized-sale rows for Templeton, Cedar Ridge and Stag, the filings, comment letters and API captures as documents, verbatim evidence passages and fee layers per series from the October 2026 circular, and the 1-K and 1-SA financial history.
Data as of 2026-10-27. Exit status breakdown: 0 exited . 0 open . 0 unreported.
Primary Source Pages
FAQ
Frequently Asked Questions
High-intent search questions answered directly, without making users hunt through the full review.
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.