The team at our affiliated broker-dealer, RM Securities, conducts diligence on of the issuer, including detailed background checks, criminal checks, bad actor checks, and reference checks on sponsors. In addition to screening for any criminal background, we may also turn down sponsors due to poor reference checks, even if the background and criminal checks are satisfactory.

Escrow accounts

We require unaffiliated sponsors to use an unaffiliated third-party escrow agent.* When an investor makes an investment with such sponsors using the RealtyMogul platform, the investor’s money is transferred directly into a third-party escrow account. All closing conditions in connection with a sponsor’s contingency offering need to be met before the third-party escrow agent will approve releasing investor funds to the issuer or general partner. For example, if an issuer or general partner plans to use funds for a real estate acquisition that does not ultimately transact, the third-party escrow agent will not transfer investor funds to the issuer or general partner, and funds will be returned to investors.

Unless otherwise disclosed, escrow accounts are not required for some investments that accommodate 1031 investments where the property is already acquired.

Boots on the ground

Our processes typically includes visiting certain properties (or a subset of properties if it's a fund) to confirm the real estate is what and where the real estate is supposed to be. For certain properties that accommodate 1031 exchange investments, the team will review third-party prepared due diligence reports in lieu of a site visit.

Detailed Checklists

We have formalized processes and checklists for every private placement deal listed on the platform.

Confidentiality Agreement
To access the Sponsor’s private offering documents for this investment, you must first acknowledge and agree to the below.
By clicking the ‘I Agree’ button below:
Completed Equity
Estimated Hold Period 18 months
Estimated First Distribution 12/2020
View Our Due Diligence Process
Investment Returns: Discerning investors don't rely on a single projected return metric as a basis to invest. Rather, when assessing a potential investment, we encourage you to evaluate all information provided by a sponsor including the business plan, assumptions, and risk factors which can be found in the relevant offering documents. This approach is consistent with our requirements as a broker-dealer, which prohibit us from communicating projected returns.
Offered By
DMJ Capital Partners
Investment Strategy Value-Add
Investment Type Equity
Value-add acquisition of a well-maintained Property with panoramic views of San Diego Bay and Downtown San Diego.

According to Axio, the San Diego market has experienced average annual rent growth of 4.3% since 2011; additionally, CoStar reports that the median household income within one mile of the Property is $73,337.

Low Leverage

Latest loan terms suggest a loan-to-cost of 62.6%; lower leverage reduces volatility and mitigates downside risk.


The Property is being purchased at a favorable basis; the $444,444 per unit purchase price* represents a 34% discount to the median home value within one mile of the Property (according to CoStar).

*based on nine (9) post-renovation units

Property at a glance
Year Built 1979
# of Units 7 current, 9 post-renovation
Current Occupancy 56%
Parking Ratio 1.78/Unit
# of Stories 3
Acquisition Price $4,000,000
Investment Highlights
The Real Estate Company is purchasing the Property for $4,000,000 ($444,444 per unit based on number of units post-renovation)
The Real Estate Company has budgeted for interior renovations of $45,000 per existing unit, $294,000 to convert the penthouse into three units, and $59,466 for exterior and common area improvements
The Property will be managed by South Coast Commercial, a third-party property management company that has previously worked with the Real Estate Company
The exit strategy is to sell the Property in 18 months at an expected cap rate of 3.75%
Cumulative Distributions

DMJ Capital Partners

DMJ Capital Partners ("DMJ") was formed by three like-minded individuals, Doug Ceresia, Matt Midura, and Josh Buchholz, whose passion for real estate is fueled by a determination to seek new and innovative ways of practicing smart business and sound investment principles. Headquartered in San Diego, California, DMJ is a privately held real estate investment management and operating company whose goal is to create substantial returns for its investors.

Having demonstrated a superior track record for numerous years as commercial real estate brokers, the founders of DMJ were approached by various clients and investors who found it extremely challenging to participate in attractive real estate investments in Southern California. As a result, DMJ was formed to provide a platform for various types of investors to benefit from the stability of the commercial investment market.

Focused on acquiring value-add multifamily and office opportunities through select investing in submarkets with high barriers to entry, DMJ is dedicated to guiding its partners and investors to long-term prosperity by utilizing its extensive brokerage connections and local expertise in the marketplace.

The Principals have been partners in one of San Diego’s leading brokerage teams for more than a decade. All three of them were recognized as NAI San Diego's Top Producer of the Year in 2012, 2014, and 2017. In this approach to serving clients, it is no surprise that they have successfully closed over 900 sale and lease transactions totaling in excess of 600 million dollars throughout San Diego County. They are partners but more importantly friends who enjoy a work/life balance by engaging meaningfully with work, family, and the community.

The acquisition of Tiffany Apartments will represent RealtyMogul's second transaction with DMJ.  The previous transaction, Riviera Marina, closed in October 2018 and has not yet gone full cycle.  However, DMJ is tracking towards full, successful completion of their business plan.

Due to RealtyMogul's large equity interest, it has negotiated full control over the deal and will be very involved in the management and execution of the business plan.
  • Doug Ceresia, CCIM, SIOR
  • Matt Midura
  • Josh Buchholz
Doug Ceresia, CCIM, SIOR

Mr. Ceresia will primarily oversee property management and work with the property management company to maximize leasing. He has extensive experience in commercial real estate brokerage. His track record includes the sales and leasing of over 2.25 million square feet of commercial property. Prior to launching DMJ in 2018, Mr. Ceresia was recognized as NAI San Diego's Top Producer of the Year in 2012, 2014, and 2017. He holds a BS in Business and Public Administration from the University of Missouri.

Matt Midura

Mr. Midura will be the main point of contact for RealtyMogul Asset Management. He has extensive experience in commercial real estate brokerage. His track record includes the sales and leasing of over 2.25 million square feet of commercial property. Prior to launching DMJ in 2018, Mr. Ceresia was recognized as NAI San Diego's Top Producer of the Year in 2012, 2014, and 2017. He holds a BS in Economics from the United States Naval Academy.

Josh Buchholz

Mr. Buchholz will lead construction through the renovation period. He has extensive experience in commercial real estate brokerage. His track record includes the sales and leasing of over 2.25 million square feet of commercial property. Prior to launching DMJ in 2018, Mr. Ceresia was recognized as NAI San Diego's Top Producer of the Year in 2012, 2014, and 2017. He holds a BA in International Business from San Diego State University.

Track Record


DMJ Principals' Transcation History
Address Location Asset Type Date Acquired Total SqFt Purchase Price
DMJ Track Record          
Riviera Marina San Diego, CA Multifamily Oct-18 10,432 $5,500,000
Notable Sales Brokered by DMJ Principals          
9303 & 9323 Chesapeake Dr San Diego, CA Office Feb-18 37,754 $6,450,000
8787 Complex Dr San Diego, CA Office Oct-17 55,500 $12,100,000
Valley Corporate Center San Diego, CA Office Jan-17 175,826 $42,125,000
2251 San Diego Ave San Diego, CA Office Jan-17 64,000 $13,825,000
232 West Ash San Diego, CA Office Sep-16 20,000 $8,258,160
1400 Front St San Diego, CA Retail Sep-16 12,454 $6,941,840
2051 Columbia St San Diego, CA Multifamily Dec-16 N/A $11,800,000
330 A Street San Diego, CA Office Dec-16 9,000 $6,250,000
1620 5th Avenue San Diego, CA Office Dec-15 80,650 $18,500,000
The Campus at Fashion Valley San Diego, CA Retail Oct-15 69,895 $17,000,000
600 B Street San Diego, CA Office Aug-12 374,000 $49,000,000
668 Sixth Avenue San Diego, CA Retail Jun-12 32,124 $8,000,000
Total       931,203 $200,250,000


The management overview and track record detailed above were provided by the Real Estate Company and has not been verified by Realty Mogul or NCPS.

In this transaction, RealtyMogul investors are to invest in RealtyMogul 133, LLC ("The Company"), which is to subsequently invest in The Tiffany, LLC ("The Target"), a limited liability company that will indirectly own interest in the Property. DMJ Capital, LLC (the "Real Estate Company") is under contract to purchase the Property for $4.0 million ($444,444 per unit) and the total project cost is expected to be $5.3 million ($588,799 per unit).

The Real Estate Company plans to implement a value-add strategy in which it will capitalize $823,736 ($91,526 per unit) for capital improvements. Of this, $319,408 ($53,235 per unit) will be spent renovating the interiors of the six units on the first and second floors.  $316,977 ($105,659 per unit) will be spent converting the 3,300 square foot penthouse into three two-bed-two-bath units. $59,466 will be spent on exterior improvements. The budget contains $53,000 for soft costs, as well as a $74,885 contingency (10%). The Real Estate Company will also mark rents to market, with current rents (excluding the owner-occupied penthouse) 23% below Axio's submarket rents. The Real Estate Company intends to hold the Property for 18 months, and then sell it at a 3.75% cap rate for $6.2 million ($692,090 per unit).

Below is a summary of the capital improvements budget:

Tiffany Apartments - Proposed Capital Expenditures Budget
CapEx Item $ Amount Per Unit
Exterior Renovations    
Paint $21,000 $2,333
Driveway Slurry Coat $3,000 $333
Porta Potty $4,000 $444
Petty Bone Rental $8,400 $933
Fencing $3,000 $333
Dumpster $5,000 $566
Scaffold $8,500 $944
Overhead $3,174 $353
Contractor Fee $2,804 $312
Insurance $589 $65
Exterior Subtotal $59,466 $6,607
Interior Renovations    
Demos $24,300 $2,700
Electrical $42,352 $4,706
Plumbing $114,002 $12,667
Bathroom Fixtures $30,120 $3,347
Drywall and Insulation $33,950 $3,772
Ceiling $47,750 $5,306
Flooring $46,950 $5,217
Kitchen Backsplash $6,390 $710
Cabinets $35,865 $3,985
Appliances $18,000 $2,000
Fire Caulking $1,200 $133
Countertops $26,550 $2,950
Air Conditioning $16,650 $1,850
Baseboard $3,435 $382
Paint $13,650 $1,517
3rd Floor Closets $900 $100
Doors and Windows $17,250 $1,917
Supervision, General Labor, and Materials $76,059 $8,541
General Cleaning $10,740 $1,193
Overhead $33,967 $3,774
Contractor Fee $30,004 $3,334
Insurance $6,301 $700
Interior Subtotal $636,385 $70,709
Soft Costs $53,000 $5,889
Contingency $74,885 $8,321
Total $823,736 $91,526
Property Information

Built in 1979, The Tiffany (the "Property") is a seven-unit apartment complex comprised of six two-bed-two-bath units (each 1,145 square feet) and a 3,300 square foot penthouse, which has been occupied by the current owner, who is also the original developer, since construction.  All units have panoramic views of San Diego Bay.  The Property has immediate access to Interstate 5, is 1.9 miles from San Diego International Airport, and 0.5 miles from the seafront.  It is only 0.4 miles from Balboa Park, a lushly planted 1,200 acre area of the city that includes 16 museums, several performing arts venues, gardens, trails, and the San Diego Zoo.  Within one mile of the Property are a multitude of retail and dining options.  There are currently two vacancies at the Property including the owner's penthouse, which has been vacated prior to sale.

In-place/Stabilized Unit Mix

Unit Type (In-Place) # of Units Unit (Square Feet) In-Place Rent Post-Reno Rent
2/2 (1st Floor) 3 1,145 $1,367 $3,210
2/2 (2nd Floor) 3 1,145 $1,833 $3,310
2/2 (PH) 3 1,100 $0 $3,425
Totals/Averages 9 1,130 $1,600* $3,315

*Average in-place rent excludes owner's unit


Lease Comparables
  2330 1st Ave. 2330 1st Ave. The Cathryn Lofts on Laurel Total/Averages Subject
Year Built 2006 2006   2018 2010 1979
Rent (2x2) $3,163 $3,658 $3,163 $3,460 $3,361 $3,315
Square Footage (2x2) 1,101 1,102 1,045 1,045 1,073 1,130
$/SF (2x2) $2.87 $3.32 $3.03 $3.31 $3.13 $2.93
Distance from Subject 0.1 miles 0.1 miles 0.6 miles 0.1 miles 0.2 miles  

All rents are net effective

Sale Comparables
  3783 1st Ave. 3657-3661 7th Ave. 4069-4077 Brant St. West Mission Hills Six Averages Subject
Date May-18 Jan-17 Jun-18 Nov-17   Jun-19
Year Built 1953 1978 1920 1956 1952 1979
# of Units 5 5 3 6 5 9
Purchase Price $2,290,000 $2,194,000 $1,550,000 $2,400,000 $2,108,500 $4,000,000
$/Unit $458,000 $438,800 $516,667 $400,000 $453,367 $444,444
Cap Rate 2.36% 3.35% N/A 4.23% 3.31% N/A*
Distance from Subject 1.2 miles 1.1 miles 1.4 miles 0.7miles 1.1 miles  

*Cap rate not applicable as owner was occupying the entire top floor (equivalent of three units) and was likely expensing personal items

Sale and lease comps were obtained from CoStar, Axiometrics, Zillow, and Realty Mogul's site visit

Location Information

Market Overview

Per CoStar, 2018 was a year of equilibrium for the San Diego apartment market, with vacancies remaining low, annual rent growth above the long-term average, and more than 4,200 market-rate units added for the first time since the recession. San Diego's economy is diversified among innovation, tourism, trade, and the military, meaning that the metro's apartment fundamentals are on firm footing. San Diego boasts one of the top high-tech and life science clusters in the country. The metro is home to more than 80 research institutes, including six universities. Venture capital poured into San Diego last year with life science and pharmaceutical companies receiving the bulk of the investment. The innovation economy in San Diego contributes almost 15% of San Diego's annual GDP, with these jobs paying on average $132,000 compared to $63,000 in the rest of the economy. This sector is set to grow, with Scripps Health announcing $2.6 billion of upgrades to its five campuses across the metro. Major San Diego defense contractors are a pillar of the metro's economy, and the Navy's renewed focus on the Pacific theatre of operation is set to galvanize the military presence in the area. Additionally, the port of San Diego supports more than 40,000 jobs locally.

Per Axiometrics, effective rent decreased 0.5% from $1,953 in 4Q18 to $1,944 in 1Q19, and annual effective rent growth was 4.2% in 2018. Annual effective rent growth is forecast to be 3.3% in 2019, and average 3.2% over the hold period. Annual effective rent growth has averaged 4.0% since 1Q95. The market's annual rent growth rate was above the national average of 2.7%. The market's occupancy rate decreased from 96.5% in 4Q18 to 96.0% in 1Q19, and was down from 96.3% a year ago. The market's occupancy rate is expected to be 96.0% in 2019, and average 95.6% over the hold period. The market's occupancy rate has averaged 95.9% since 1Q95.

Submarket Overview

Per CoStar, Balboa Park is an urban submarket with a plurality of residents in the prime renting cohort of 25-34 years old.  It is filled with attractive neighborhoods, parks, and easy freeway access.  Rents have traditionally been among the more affordable of San Diego's submarkets.  Developers have targeted the redevelopment of older buildings and parking lots for apartment and condo additions over the past couple years.  They are building smaller, boutique communities that accommodate the character of the many walkable neighborhoods that comprise the submarket.  The area is on the front lines of efforts to build higher-density projects, but with that comes increasing levels of neighborhood opposition to almost every project that casts a shadow.

  1 Mile 3 Miles 5 Miles
Population 27,461 210,222 500,264
Population (2024) 28,622 219,707 516,579
Average Age 41 37 36
Median Household Income $73,337 $65,140 $61,959
Average Household Size 1.5 2.0 2.3
Median Home Value $671,347 $638,365 $596,367
Population Growth 2019-2024 4.23% 4.51% 3.26%

Demographic information above was obtained from CoStar.

Cap Stack
Sources & Uses
Total Capitalization
Sources of Funds Amount
Debt $3,320,000
Equity $1,984,236
Total Sources of Funds $5,304,236
Uses of Funds Amount
Purchase Price $4,000,000
Real Estate Company Acquisition Fee $120,000
Broker Dealer Fee $68,400
Loan Fee $58,100
CapEx Budget $823,736
Working Capital $25,000
Interest Reserve $164,000
Closing Costs $45,000
Total Uses of Funds $5,304,236

Please note that the Sponsor's equity contribution may consist of friends and family equity and equity from funds controlled by the Sponsor

Debt Assumptions

The expected terms of the debt financing are as follows:

  • Total Estimated Proceeds: $3,320,000
  • Initial Estimated Funding: $2,500,000
  • Future Estimated Funding: $820,000
  • Estimated Rate (Fixed): 5.95%
  • Amortization: 27 years
  • Term: 15 years
  • Interest Only: 3 years
  • Exit Fee: 5.0% in months 1-12, 2.0% in months 13-24, and 1.0% in months 25-36
  • Extension Options: None

There can be no assurance that a lender will provide debt on the rates and terms noted above, or at all. All rates and terms of the debt financing are subject to lender approval, including but not limited to possible increases in capital reserve requirements for funds to be held in a lender controlled capital reserve account.


The Target intends to make distributions to investors (the Company and Real Estate Company, collectively, the "Members") as follows: 

  1. To the Members, pari passu, all excess operating cash flows to an 8.0% IRR to the Members;
  2. 70.0% / 30.0% (70.0% to Members / 30.0% to promote) of excess cash flow to an 18.0% IRR;  
  3. 50.0% / 50.0% (50.0% to Members / 50.0% to promote) of excess cash flow and appreciation thereafter.  

Note that these distributions will occur after the payment of the Company's liabilities (loan payments, operating expenses and other fees as set forth in the LLC agreement, in addition to any member loans or returns due on member loans).

The manager of The Company may receive a portion of the promote. Distributions are expected to start in December 2020 and are projected to continue on a quarterly basis thereafter. These distributions are at the discretion of the Real Estate Company, who may decide to delay distributions for any reason, including maintenance or capital reserves. 

Cash Flow Summary
  Year 1 Year 2*
Effective Gross Revenue $138,640 $177,939
Total Operating Expenses $96,237 $52,112
Net Operating Income $42,403 $125,827

*Year two is only six months due to sale in month 18

RealtyMogul 133, LLC Cash Flows
  Year 0 2019 2020
Distributions to RealtyMogul 133, LLC Investors ($1,750,000) $0 $2,183,645
Net Earnings to Investor
- Hypothetical $50,000 Investment
($50,000) $0 $62,390

Certain fees and compensation will be paid over the life of the transaction. The following fees and compensation will be paid:

One-Time Fees
Type of Fee Amount of Fee Received By Paid From Notes
Acquisition Fee $120,000 Real Estate Company  Capitalized Equity Contribution 3.0% of the Property purchase price
Broker-Dealer Fee $68,400 North Capital Capitalized Equity Contribution Greater of $50,000 and 4.0% of the equity raised by RealtyMogul 133, LLC
Recurring Fees
Type of Fee Amount of Fee Received By Paid From Notes
Management and Administrative Fee 1.0% of amount invested in RealtyMogul 133, LLC RM Manager, LLC Distributable Cash RM Manager, LLC is the Manager of RealtyMogul 133, LLC and a wholly-owned subsidiary of Realty Mogul, Co. (2)
Property Management Fee 5.0% of Effective Gross Income South Coast Commercial Distributable Cash  

(1) Certain employees of Realty Mogul, Co. are registered representatives of, and are paid commissions by, North Capital Private Securities Corp., a Delaware corporation ("North Capital"). In addition, North Capital pays a technology provider services fee to Realty Mogul, Co. for licensing and access to certain technology, reporting, communications, branding, entity formation and administrative services performed from time to time by Realty Mogul, Co., and North Capital and Realty Mogul, Co. are parties to a profit sharing arrangement.

(2) Fees may be deferred to reduce impact to investor distributions.

The above presentation is based upon information supplied by the Real Estate Company or others.  Realty Mogul, Co., RM Manager, LLC, and The Company, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein.  The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.

The following offering documents have been prepared and are being delivered by the Sponsor of this investment opportunity, and not by RM Securities, LLC. RM Securities, LLC and its associated persons did not assist in preparing, do not explicitly or implicitly adopt or endorse, and are not otherwise responsible for, the Sponsors offering documents posted below or any content therein.
RM Securities, LLC and its Affiliates Compensation

RM Securities, LLC, its registered representatives, affiliates, associated persons, and personnel of its affiliates who may also be associated with it, including our associated persons and personnel of our affiliates who are also be associated with RM Securities, LLC (it (“RM Securities,” “we,” “our,” or “us”) will receive fees, expense reimbursements, and other compensation (“Fees”) from the issuer of this investment offering, its sponsor, or an affiliate thereof (“Sponsor”), or otherwise in connection with Sponsor’s offering. The Fees paid to us are in addition to other fees you will pay to Sponsor or in connection with Sponsor’s investment offering. You will pay Fees to Sponsor, either directly or indirectly as an investor in the Sponsor’s offering. Sponsor will use the Fees you pay, as well as funds you invest in the relevant offering, to compensate us. The Fees paid to us will directly or indirectly be borne by you as the investor (typically, but not always, in the form of an expense of the Sponsor’s offering in which you invest) because such Fees will reduce the proceeds available for distribution to you and reduce the amount you earn over time.

For more information on the Fees paid to us, or any other Fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

No Approval, Opinion or Representation, or Warranty by RM Securities, LLC

Sponsor has provided, approved, and is solely responsible in all aspects for the information on this webpage (“Page”), including Sponsor’s offering documentation, which may include without limitation the Private Placement Memorandum, Operating or Limited Partnership Agreement, Subscription Agreement, the Project Summary and all exhibits and other documents attached thereto or referenced therein (collectively, the “Investment Documents”). The Investment Documents linked on this page have been prepared and posted by Sponsor, and not by RM Securities. We did not assist in preparing, do not adopt or endorse, and we are not otherwise responsible for, the Sponsor’s Investment Documents. We make no representations or warranties as to the accuracy of information on this Page or in the Sponsor’s Investment Documents and we accept no liability therefor. No part of the information on this Page or in the Sponsor’s Investment Documents is intended to be binding on us.

Sponsor’s Information Qualified by Investment Documents

The information on this Page is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s Investment Documents. The information on this Page is not complete and subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.

Risk of Investment

This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.

No Reliance on Forward-Looking Statements; Sponsor Assumptions

Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Neither RM Securities nor Sponsor are obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.

Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.

No Reliance on Past Performance

Any description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.

Sponsor’s Use of Debt

A substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.

Sponsor’s Offering is Not Registered

Sponsor’s securities offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act (“Private Placement”). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.

No Investment Advice

Nothing on this Page should be regarded as investment advice (either with respect to a particular security or regarding an overall investment strategy), a recommendation, an offer to sell, or a solicitation of or an offer to buy any security. Advice from a securities professional is strongly advised to understand and assess the risks associated with real estate or private placement investments. For additional information on RM Securities’ involvement in this offering, please carefully review the Sponsor’s Investment Documents, and RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

1031 Exchange Risk

Internal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. RM Securities and its affiliates make no representation or warranty of any kind with respect to the tax consequences of your investment or that the IRS will not challenge any such treatment. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.




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