Arrived (single-property investments) 2025 Comprehensive
Review and Ranking

What is Arrived?

 

To avoid the financial conflicts-of-interests that are rampant on virtually every other review site, I DON'T accept any money from any outside sponsor or platform for ANYTHING (including but not limited to affiliate ads, advertising etc.). See code of ethics  for more.

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Arrived is a site that specializes in residential real-estate (and specifically, single family residential and vacation rentals). The company is also notably funded by Amazon founder Jeff Bezos and SalesForce founder Marc Benioff. 

Arrived offers three different types of investments:

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1. Real-estate equity investments in single-property deals

2. Real-estate equity investments in a diversified fund (the "Arrived Single Family Residential Fund") .

3. Real-estate debt investments in a diversified fund (the "Arrived Private Credit Fund").

 

Since these products are so different, a separate review is being done for each one.

This is the first of three Arrived reviews and is about the single-property residential and vacation rental investments.

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What's the latest feedback on Arrived (single property investments)?

 

Arrived is a new-comer to the Real Estate Crowdfunding Review. So it hasn't yet accumulated a large enough number of investors to provide meaningful survey results (which are used to gauge investor satisfaction and produce rating/ratings). Now that it's been reviewed, that will presumably change in the future. And Arrived investors will be surveyed the next time the site surveys are updated.

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How does Arrived (single property investments) work?

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Arrived sources and purchases the property in advance. Then the house is rehabbed (to bring it up in quality for rental). 

The house is then offered for rent, applicants screened and a final tenant selected. So if you select a deal in this phase then you may need to wait until this is finished, before cash flow begins.

Once a tenant is in place, Arrived sends any profit  to the investor (after paying expenses) on a monthly basis. Arrived also manages any ongoing maintenance. 

Arrived targets holding each property for 5-7 years. And at the end the investor receives a final distribution from the sale  (which hopefully includes price appreciation as well).

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Arrived projects the following range for these deals: 

• Total Returns (income + appreciation at end): 6 -10% annual*

• Income-only portion: 3 - 5% annual*

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Arrive claims that in summer 2025, "the Arrived Secondary Market will provide quarterly opportunities for investors to buy and sell shares of individual properties". If this happens then that would provide an additional liquidity option for investors.

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What are Arrived (single property investments) Pros and Cons?

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In the groundbreaking study, "The Rate of Return of Everything", residential real estate's long-term performance (1870 - modern era) walloped virtually every other asset class.

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It absolutely destroyed bonds and treasuries. And to the surprise of many, it did about as well as the stock market did. And when investing, the after-tax return is what matters the most. But, the study didn't look at taxes (and how real estate often enjoys many tax breaks that stocks don't). So after factoring that in, residential real estate almost certainly beat the stock market, too.

 

So I personally love the single-family rental asset-class. And it's the bedrock of my core portfolio.

 

But, there just aren't a lot of residential equity funds available. So it can be very difficult to access this asset class as a passive investment. And many investors are forced to own this kind of real estate directly (if they want in their portfolio).

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So I like the fact that Arrived focuses on this asset class.

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They also currently have 5 open properties which is very impressive for a newer site.

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And knowing that Jeff Bezos (Amazon's founder) and Mark Beniof (Salesforce's founder) have funded Arrived, is impressive.

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Additionally they accept all investors over 18, so you don't have to be accredited. Minimums are very low and accessible at $100. And it's nice that they send checks so frequently ( monthly instead of the usual quarterly).

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Additionally they claim that in the summer of 2025 they will be opening up a secondary market. If they do, this will give investors a very nice liquidity option.

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Also some of the investments have no debt.  This is rare and as a conservative investor, I really like seeing this. As I discuss in my portfolio deep dive, I use debt-free residential real estate as the core of my portfolio (because I feel this hardens it against a recession). So I consider this to be a major plus.

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On the other hand Arrived does not appear to disclose their full track record. For me, this is inadequate transparency and a major negative (and I hope they change their decision on this, for the future).

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Also, neither the principals nor the company have full real-estate cycle experience with little to no money lost ( which some conservative investors require). Additionally some may find it off-putting that the founders have no previous real estate experience (let alone experience managing other people's money into real estate fund).

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Additionally Arrived does not appear to disclose co-investment (and may not co-invest at all). 

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​Accredited investors generally dislike how nonaccredited offerings (like this) are much more expensive than other options they have.

And in my opinion the pitch page is inadequate.  It forces the investor to wade through dense SEC filings for basic information (and I feel that's asking way too much from an investor that doesn't even know if there potentially interested or not). More on this is below. And I do hope they change this in the future.

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Arrived (single property investments) Quick Pro & Con Summary

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• Advantages:

  • Offers investments in an asset class with great historical returns that has often been difficult for many to access.

  • Good volume with 5 current investments available.

  • Company funded by Jeff Bezos (Amazon founder) and Mark Beniof (Salesforce founder).

  • Accepts all investors over 18 (and don't have to be accredited).

  • Ultra low $100 minimum

  • Frequent (monthly) checks (versus quarterly)

  • Claims that a secondary market is coming in summer of 2025 and which would give investors an extra liquidity option.

  • Some investments are debt free!
     

• Disadvantages:

  • Does not appear to disclose full track record

  • Neither principals nor company has full real estate cycle experience with little to no money lost. 

  • Founders have no previous real estate experience (let alone experience managing other people's money in real estate).

  • Does not appear to disclose co-investment (and may not co-invest) 

  • Nonaccredited offerings are more expensive for accredited investors (who have cheaper alternatives).

  • Pitch page is (in my opinion) inadequate and forces you to wade through dense SEC filings for basic information (which I feel is asking for way to much when the investors doesn't even know if they're potentially interested or not).
     

• Accolades: none

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Is Investing In Arrived (single property investments) Legal?

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Arrived is available to all U.S. investors aged 18+ (and does not require them to be accredited). When investors sign up they are requested to provide identification and documentation required by Know-Your-Customer (KYC) and anti-money laundering (AML) rules and laws.

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What does an Arrived (single property investments) deal look like?

Here is my step-by-step due-diligence on a random Arrived investment. So it may or may not be a typical investment.

I'm not an attorney, accountant nor your financial advisor. So always consult your own financial professionals before making any financial decisions. This is just my personal opinion and could contain errors, so use at your own risk.

Every investor has a different risk tolerance, comes from a different financial situation and has different financial goals. So an investment that looks great to one investor will look terrible to another (and vice versa). And by the same token, there is also many ways to due-diligence (and no one "right" or "wrong" way"). This is my method, and others will do it differently. Also I'm a very conservative investor, so something that's I feel is too risky could be a perfect fit for someone else who is coming from a different place.

This investment is located in an Bowling Green, Kentucky It's title is: "The Tomlinson".

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Asset class

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​My first step is to make sure that the asset class and strategy even make sense for my portfolio. (If you don't know how to do this, you can see how I do this in The Conservative Investor's Guide to Due Diligence). Let's say it makes sense for my portfolio and jump in.

 

Sponsor Experience

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My next step is checking the sponsor's experience. 

A recession can occur at any time and the repercussions can be severe to investments. So I don't want a newbie sponsor learning expensive lessons with my money. And instead, I want them to have gone through a downturn before and done well.

So, I require full real estate cycle experience in the exact strategy (single family rentals in this case), with little to no investor money lost.
 

Unfortunately, Arrived doesn't appear to disclose it's full and complete track record. And if this is correct, then in my opinion this is a red flag (and I hope they change this in the future).

On the "About Us" page, the principals / co-founders also don't show any bio information at all. This struck me as odd (and perhaps telling). Nor was there a single word about having previous experience in real-estate offerings/funds (like most sponsor show).

So I searched for, and found co-founder Ryan Frazier's Linked-in page. And it turns out that he appears to have no past real-estate experience at all (let alone managing other people's money as a real-estate fund manager). Co-founder Alejandro Chouza LinkedIn shows that he is essentially the same.

So I was a bit surprised that a Jeff Bezos /Marc Benioff funded startup would go with principals who have appear to have no previous real-estate experience.

Either way: the lack of experience is an immediate dealbreaker for me.

On the other hand, an investor who is not as concerned with cycle and sponsor risk will be fine with less experience than I am.

 

Market Type
 

Bowling Green Kentucky is a tertiary market (versus being a primary or secondary market). Primary markets (major cities) generally have highly diversified economies. These tend to sustain strong demand in good times and provide maximum protection in a downturn. These are also generally very dense areas. And this can provide some protection against competitors (which can sometimes blow up a pro forma in less dense markets). In addition, some of these also have onerous building restrictions. Again this provides protection against competitors.
 

On the other hand, secondary and tertiary markets have less diversified economies, are usually less dense areas and generally have less onerous building restrictions. And so in general this increases the risk.

As a conservative investor, a tertiary market is an immediate deal-breaker (for me).

At the same time, this increased risk usually also comes with an increased projected return. So a different investor who is not as concerned about cycle and market risk, may prefer markets like this over primary ones.

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Skin-in-the-game

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Another thing I look at, is the amount of co-investment (which is also called "skin in the game"). I generally like to see the sponsor put in at least 5% (and preferably 10%) of their own money into the deal, and on the same terms as investors. This aligns them better and reduces risk. 

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Unfortunately the Arrrived site does not show how much skin in the game the sponsor has.  So an investor who is interested in this deal will probably want to inquire with them to find out how much. 

For me, anything less than 5% is a dealbreaker.   

On the other hand a more aggressive investor will prefer lower skin in the game (as they want to see higher projected returns and that generally requires a sponsor to push the risk envelope).

Debt
 

To minimize the chances of default and losing 100% of the investment, I like to see conservative use of debt at 65% LTV or less. I also like to see a sponsor eliminate refinance risk by locking in long-term debt at 7 to 10 years. And finally I generally want to see them eliminate interest rate risk, by locking in a fixed interest rate.

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In this case there is no debt at all.  This is rare and as a conservative investor, I really like seeing this. As I discuss in my portfolio deep dive, I use debt-free residential real estate as the core of my portfolio (because I feel this hardens it against a recession). So I consider this to be a major plus.

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A different investor who is not as concerned about default risk will prefer to see some debt, because it increases the projected return.
 

Fees and promotes

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One thing I don't like about most nonaccredited investor offerings is that (unlike accredited offerings) they often don't create a pitch deck that concisely discloses all the basic information for an investor to evaluate the risk.

Instead they typically point you to a couple hundred pages of dense legalese that they have filed with the SEC.  Basic information is often spread helter-skelter throughout it (which makes it difficult to tell if you found all the basic info or not).  And you have to wade through tons of legal CYA that impede getting the info.

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In my opinion, this is way too much for any sponsor to expect from an investor (when the investor doesn't even know if they're even interested in the deal or not). And I feel a sponsor should at least give an investor all the  fundamental information so they know if it's even a potential match ...and then maybe that investor will then wade through the document. A

 

For example, I could not find on the pitch page, basic information on fees and promotes (that all accredited offerings disclose on their pitch deck). So the below was based on me attempting to wade through the SEC filings, and could be wrong. (And this, in my opinion, is frustrating and non-sensical considering this is basic info every sophisticated investor looks at).
 

I could not find mention of a promote/profit split. As mentioned above I don't know if this is correct or not (due to the way it's presented). If it's correct, then this is a big advantage over other offerings that charge this.

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I did find these references:
 

• Sourcing fee: 3.5% of purchase price.

  • To me this seems in line with typical charges.

• Annual asset management fee: 0.6%/quarter = 2.4%/year.

  • This is far in excess of the usual 1 to 2%  and normally would be a dealbreaker for me. However, since there is no promote/profit split charged, this seems fair to me.

• Property management: 8%

  • To me this seems in line with typical charges.

• Property disposition fee: 6-7% of sales price.​

  • To me this seems in line with typical charges.​

• Expenses: Up to a maximum of 2% of the gross offering proceeds.

  • This is another one of my pet peeves with many nonaccredited offerings. The organizational expenses are typically much more expensive than accredited offerings  and they virtually always make the investors pay (a double-whammy). Arrived also makes the investors pay for this, and so I'm not a fan of this (versus choosing another option that doesn't do this).

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Other

 

Had the investment all my initial checks, I would have dived in further to check out the sponsor, the property itself, the projections, etc. To learn how I do those things, check out  The Conservative Investors Guide to Due Diligence (and for debt... The Comprehensive Guide to Hard Money Loan Investing.)

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Where can I discuss other Arrived deals?

You can do this with thousands of other investors in the private investor club. While the club is free, membership is restricted to investors who have no business connections to sponsors or platforms. Also, all members must agree to keep all club info confidential by signing a nondisclosure agreement. Click here to join or get more info.

 

Who are Arrived Competitors?

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Here are the reviews and rankings for other similar sites.

 

• Ark7

• FinResi

• Share SFR

• CrowdStreet

• 1031 Crowdfunding

• Real Crowd

• ArborCrowd

• Carlton Crowdfund

• Share States

• Roofstock

• Roofstock One

• SBRE Funds

• First Real Fund

• Realty Shares

• Equity Multiple

• Realty Mogul

• C.K. Mack

• Lending Home

• Holdfolio

• CityVest

• Prodigy Network

• Instalend

• Cadre

• All other sites (ranked and reviewed)
   

How do I invest in equity and/or debt?

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Looking to learn more about real-estate investing?

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• What are the 4 investment strategies? (Part 1: core and core+)

  • What are the 4 investment strategies? (Part 2: value-added and opportunistic)

• Should I invest in residential or commercial real estate? (Part 1: residential)

  • Should I invest in residential or commercial real estate? (Part 2: commerical)

• What is the difference between equity and debt?

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Related:

How to pick? Check out our step-by-step guide.
 

• The quick guide to picking conservative real-estate deals
   

• Top 25+ accredited investor sites (ranked and reviewed)