EquityMultiple covers a lot of ground under one roof: short-term notes for parking cash, managed funds for hands-off real estate income, and individual equity deals for investors who want to pick their own properties.
But a platform built to serve three different types of investors isn’t necessarily the strongest option in each category. The best alternative depends on which track you’re actually comparing and what you want your investment to do.
We’ll compare each of EquityMultiple’s three investing paths against the alternatives that serve a similar goal, so you can see where EquityMultiple holds up and where a more focused alternative might serve you better.
Three tracks under one roof
EquityMultiple is a commercial real estate platform for accredited investors, founded in 2015. The platform reports over $1.5 billion in total investments since 2015 and puts its own money into many of the deals it lists. The platform organizes investments into three tracks.
Alpine Notes, their short-term note product, for parking cash at higher yields than a savings account.
Ascent Income Fund, their income fund, for hands-off real estate income through a managed portfolio.
Individual equity deals, their deal-selection platform, for investors who want to pick specific commercial properties themselves.
Each track serves a different goal for your capital, and the best alternative depends on what you want your money to do.
Short-term notes: for investors who want yield on idle cash
Short-term notes are designed for cash you want working harder than a savings account but don’t want locked up for years. Here’s how a few of the main options compare.
EquityMultiple Alpine Notes currently target 6.0% to 7.35% APY depending on the term (3 to 9 months), with no investor fees and 30-day liquidity. EquityMultiple manages these directly and absorbs losses before investors do. Rates may change, so verify before investing.
High-yield savings accounts currently pay around 4.15% APY with FDIC insurance and instant access to your money. It’s a lower yield, but your principal is protected up to $250,000.
Short-term U.S. Treasuries yield approximately 3.8% to 4.0% depending on the term, with the full backing of the federal government. You give up some yield compared to Alpine Notes, but you’re holding one of the lowest-risk assets available.
Alpine Notes pay more than either option. The trade-off is that they aren’t insured and your capital is committed for the note’s term. For investors with cash they won’t need for a few months who are comfortable with that exchange, Alpine Notes are a strong option.
Income funds: for investors who want hands-off income
Income funds pool investor capital across multiple properties, with a fund manager handling deal selection on your behalf. They’re designed for investors who want real estate income without evaluating individual deals. Here’s how a few of the options compare.
EquityMultiple’s Ascent Income Fund offers diversified real estate income through a managed portfolio. The fund’s debt investments target 8% to 12% and its equity investments target 10% to 14%, with distributions that vary based on property performance. The Ascent Income Fund, its flagship, targets 11% to 13% net annual returns.
DLP Capital focuses on attainable housing: workforce apartments, build-to-rent communities, and senior housing. They manage everything from acquisition to operations. Targeted total returns range from 10% to 16% depending on the fund. A portion of that (6% to 9%) is paid as regular income from property cash flow, monthly or quarterly. The rest comes from property appreciation when assets are sold, which means the full return depends on how the real estate performs over time. DLP’s single-sector focus gives it depth that a diversified platform can’t easily match, but the trade-off is concentration.
Freedom Flagship Notes take a different approach to the same investor need. Instead of variable returns tied to property performance, investors may target a fixed annual rate of 8% to 14%* depending on the offering and tier. Because the structure generates interest income, you get a simple 1099 at tax time instead of a stack of K-1s. Freedom Notes are also eligible for self-directed IRAs. For investors who want the return potential of a managed fund without the variable distributions and tax complexity, Freedom Notes are worth a closer look. You can book a clarity call to talk it through directly.
These investments carry risk, including potential loss of principal.
Equity deals: for investors who want to choose their own properties
Individual equity deals let you invest in specific commercial real estate projects, reviewing each sponsor, property, and business plan before committing capital. You get transparency and control, but the due diligence is on you. Here’s how a few of the options compare.
EquityMultiple’s equity deals offer a curated selection, with roughly 5% of deals making it onto the platform. Lock periods run 3 to 7 years, distributions vary, and fees can include 0.5% to 1.5% annually plus a share of profits. The tighter screening means fewer options, but each one has passed a higher bar.
CrowdStreet connects accredited investors with individual commercial deals at minimums starting around $25,000. The marketplace is broader, with more deals available at any given time. The trade-off is that sponsor selection carries real stakes: the platform’s history includes a $63 million loss connected to sponsor fraud in 2023, which is one reason many investors have started exploring CrowdStreet alternatives.
EquityMultiple alternatives compared
| Return type | Income frequency | Tax reporting | Minimum | Liquidity | |
|---|---|---|---|---|---|
| Short-term notes | |||||
| EM: Alpine Notes | Fixed: 6-7.35% | At maturity | 1099 | $5,000 | 3-9 months (term length) |
| High-yield savings | Fixed: up to ~4.15% | Monthly | 1099-INT | None | Immediate |
| Short-term Treasuries | Fixed: ~3.8-4.0% | At maturity | 1099-INT | $100 | At maturity (3-6 months) |
| Income funds | |||||
| EM: Ascent Income Fund | Variable: 11-13% targeted | Varies by fund | K-1 | $5,000 | 1-year lockup, then quarterly |
| DLP Capital | Variable: 10-16% targeted | Monthly or quarterly | K-1 (varies by fund) | $200,000 | Annual or 90-day (varies) |
| Freedom Notes | Fixed: 8-14%* | Quarterly | 1099 | $25,000 | Annual exit option |
| Equity deals | |||||
| EM: Equity Deals | Equity upside | Varies by deal | K-1 | $10,000 | Locked for deal term |
| CrowdStreet | Equity upside | Varies by deal | K-1 | $25,000 | Locked for deal term |
- Targeted returns depend on the offering and tier. These investments carry risk, including potential loss of principal. Past performance does not guarantee future results.
Know what you want your money to do before you choose where to put it
The right investment depends on what you need your capital to do. Before you put capital anywhere, get clear on five things.
Do you want to pick your own deals, or have someone else handle it? If you want control, EquityMultiple’s equity tier or CrowdStreet is the right track. If you’d rather delegate, you’re comparing income funds.
What return are you targeting, and how much risk are you willing to take for it? A 4% yield with FDIC insurance is a very different product from a 14% target backed by real estate. Higher returns come with longer lockups, less liquidity, and more exposure to how the underlying properties perform.
Do you want a fixed return or are you comfortable with variable income? Fixed means you know the rate before you invest. Variable means higher potential upside, but your actual income depends on how the real estate performs.
How important is simple tax reporting? K-1s are standard for most private real estate equity. If you’d rather avoid the added accounting cost and filing delays, look for structures that issue a 1099.
How long can your capital be locked up? Some options offer 30-day liquidity. Others lock you in for three to ten years. Match the structure to your real timeline.
Hands-off real estate income built for busy professionals
No deals to evaluate. Our team handles everything. We invest in real estate people depend on every day: apartments, senior housing, storage.
A return that’s defined before you invest. Investors may target 8% to 14%* annually depending on the offering. The fund has maintained no missed investor payouts to date, according to Freedom Family Investments. Past performance does not guarantee future results.
Income you can plan around. Your rate is fixed, not tied to how the properties perform. Paid quarterly or compounded.
A 1099, not a K-1. No complicated profit splits. No filing delays.
Annual liquidity from year one. Most private real estate funds lock your capital for years. Freedom Notes offer a redemption window annually, which is uncommon in this category.
Want to talk through whether Freedom Notes belong in your portfolio? A clarity call can help you decide.
When Freedom Notes aren’t the right fit
If you want to handpick individual properties, EquityMultiple’s equity tier or CrowdStreet will give you that control.
If you’re looking for equity growth potential with a long time horizon, a fund like DLP Capital is designed for that.
If you just want a better return on cash you’ll need in a few months, EquityMultiple’s Alpine Notes or a high-yield savings account are a better match.
If depreciation-based tax benefits are a priority, an equity fund or direct property ownership will give you what a lending structure can’t. Consult your tax advisor for guidance specific to your situation.
Not sure which track fits your goals?
A clarity call can help. It’s a 30-minute conversation to help you understand how Freedom Notes work, compare them honestly to whatever else you’re considering, and figure out whether this fits your situation.
It isn’t a sales call. The goal is to walk you through the structure and give you a clear, honest read on whether this belongs in your portfolio, even if the answer is no.
Book a clarity call with Freedom Family Investments
*This material is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Any offering is made only through applicable offering documents and only to investors who meet applicable suitability and accreditation requirements. Private real estate investments involve significant risks, including illiquidity, loss of principal, lack of diversification, leverage risk, property-level risk, operating risk, sponsor risk, and market risk. Targeted or stated returns are not guaranteed. Past performance, including prior payment history, does not guarantee future results. Investors should consult their legal, tax, and financial advisors before investing.
