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CREAssets vs AppFolio
AppFolio Investment Manager is investor management software for real estate firms from the company behind AppFolio Property Manager, a separate product priced per unit. AppFolio lists Investment Manager Core at $650 a month. CREAssets runs investors, deals, a deal-level ledger and property management on one record: free until you collect investor money, then $299 a month for every module. AppFolio is ahead on certifications, property management maturity and an investor mobile app.
Updated
Switching from AppFolio
5 reasons sponsors move to CREAssets
Each AppFolio fact below is what AppFolio publishes, or what its site does not list, as of 2 October 2026.
- 01
One product, one bill
AppFolio lists Investment Manager (Core from $650 a month) and Property Manager (priced per unit) as separate products on its pricing page. CREAssets includes property management in $299 a month for every module.
- 02
Nothing to pay before you raise
CREAssets is $0 until you collect investor money into a deal, then month-to-month — cancel anytime. AppFolio’s pricing page does not state its billing terms.
- 03
Underwrite where you raise
Underwriting is not listed on AppFolio’s Investment Manager pages. The CREAssets AI underwriter turns an OM, rent roll and T-12 into a workbook that becomes the deal, on the Platform plan.
- 04
Sign up without a demo
AppFolio’s Investment Manager page leads with “Book a Free Demo”. CREAssets is self-serve: sign up free and build your first deal today.
- 05
Free migration, first month free
We migrate running deals at no cost, from another platform or from spreadsheets, and your first month on the Platform plan is free.
- The switching offer
Switching? We move you for free.
Running deals on another platform or in spreadsheets? We migrate your investors, entities, positions, contributions, distribution history and documents with you at no cost, and your first month on the Platform plan is free.
Which one fits your firm
We would rather you pick the right tool than the wrong one quickly. Here is where each is stronger.
Choose AppFolio if…
- You already run your properties on AppFolio Property Manager. AppFolio describes syncing contributions and distributions with the general ledger through its native property management integration.
- You need audited controls. AppFolio lists SOC 1 Type 2 and SOC 2 Type 1 and Type 2 on its Investment Manager page; CREAssets holds no certification.
- Your investors want an app. AppFolio lists an optional investor mobile app; CREAssets has no native mobile apps.
- You want a mature property management system with published per-unit pricing, from $1.49 per unit a month on its residential Core plan (50-unit minimum).
- You want portfolio asset dashboards. AppFolio lists AppFolio Alpha for NOI, lease expiration, LTV and custom KPIs.
Choose CREAssets if…
- You want one product and one bill: investors, deals and property management on the same record for $299 a month, not priced per unit.
- You want to underwrite where you raise. The AI underwriter turns an OM, rent roll and T-12 into the deal workbook.
- You want a double-entry ledger per deal and per asset next to the cap table, with CSV, .qbo and .iif exports.
- You want to start before you raise: nothing to pay until you collect investor money, then month-to-month.
- You want email campaigns, landing pages, lead forms, automations and a booking scheduler in the same product.
Side by side
AppFolio vs CREAssets: pricing and features
What AppFolio Investment Manager publishes next to what CREAssets ships today.
Scroll the table sideways to see every column.
| Capability | CREAssets | AppFolio | Source |
|---|---|---|---|
| Capabilities | |||
| Focus | Commercial real estate sponsors only | Real estate investment managers; property management sold as a separate AppFolio product | appfolio.com/investment-manager |
| Fundraising and CRM | Investor CRM, pipelines, email campaigns, landing pages, lead forms, automations and a booking scheduler | CRM from lead capture to interest in new offerings, deal tracking and e-signature without third-party tools | appfolio.com, investment management page |
| Investor portal | Branded investor portal: positions, distributions, documents and a tax center | Dashboards, K-1s and reports, contributions and distributions, ACH contributions and accreditation status | appfolio.com/investment-manager |
| Waterfalls and distributions | LP, GP and mezzanine classes; IRR, cash-on-cash and ROI hurdles; pref, splits and catch-up tiers; 23 templates | Automated waterfall calculations; distributions paid by ACH or mailed check; fund structures as legally formed | appfolio.com, investment management page |
| Property management | Units, leases, rental applications, maintenance and a tenant portal on the deal record. Online rent: built in; connect your provider | AppFolio Property Manager: a separate product, priced per unit, integrated with Investment Manager | appfolio.com/pricing; AppFolio blog, 13 May 2026 |
| Underwriting | AI underwriter parses OM, rent roll and T-12 into a workbook that becomes the deal; included in the Platform plan | Not listed on its Investment Manager pages | appfolio.com/investment-manager |
| Accounting | Double-entry ledger per deal and per asset; P&L and balance sheet with a tie-out line; CSV, .qbo and .iif export | General ledger in AppFolio Property Manager; contributions and distributions sync to it, per AppFolio | AppFolio blog, 13 May 2026 |
| AI | Assistant and agents draft with every figure cited or marked unresolved; a person approves. Drafts for review, not advice | Smart Compose for emails, auto-filling investment details from the PPM, and AppFolio Alpha dashboards | AppFolio blog, 13 May 2026 |
| Mobile app | No native mobile apps | Optional investor mobile app | appfolio.com/investment-manager |
| Security | 2FA (TOTP), tenant isolation, audit logs and rate limiting. No SOC 2 or ISO certification | Lists SOC 1 Type 2 and SOC 2 Type 1 and Type 2 | appfolio.com/investment-manager |
| Pricing | |||
| Investor management | Free to start. $299/mo for every module once you collect investor money into a deal | Published: Investment Manager Core $650/mo | appfolio.com/pricing |
| Property management | Included in the $299/mo Platform plan | Separate product: residential Core $1.49 per unit/mo (50-unit minimum); Commercial Plus $3.20 and Commercial Max $5.00 per unit/mo | appfolio.com/pricing |
| Billing terms | Month-to-month, cancel anytime. Nothing to pay until you collect investor money; then $299 a month | Not stated on its pricing page | appfolio.com/pricing |
| Migration | Free migration of running deals, from another platform or from spreadsheets, plus the first month free | Not stated on its pricing page | appfolio.com/pricing |
| Getting started | Self-serve signup; free until you collect investor money | "Book a Free Demo" | appfolio.com/investment-manager |
Competitor information is taken from their public website on 2 October 2026 and may have changed. Rows marked as third-party or with an earlier review date say so in the Source column. Sources: appfolio.com/investment-manager, appfolio.com/investment-manager/…, appfolio.com/pricing, appfolio.com/blog/…. CREAssets AI output is a draft for human review, not investment, legal or tax advice. Payments run through licensed third-party providers, US bank accounts only.
Switching
Moving from AppFolio
We migrate your book with you, at no cost, and your first month on the Platform plan is free. Send us your AppFolio exports (investors and entities, positions, contributions, distribution history and documents) and we map them into CREAssets together, then you reconcile against your own records before investors are invited. If your properties also run on AppFolio Property Manager, decide whether to move them in the same step or keep them there for now. Your migration plan arrives within 3 business days of your exports, and your book is loaded for you to check within 7 business days. There is no one-click import: go-live is when you sign off.
Keep researching
Prices, tools and other comparisons, all dated and sourced.
Frequently asked questions
How much does AppFolio Investment Manager cost?
As listed on appfolio.com/pricing on 2 October 2026: Investment Manager Core at $650 a month. Property management is a separate product, AppFolio Property Manager, priced per unit (residential Core from $1.49 per unit a month with a 50-unit minimum). The page states no billing terms for Investment Manager, so ask AppFolio. CREAssets is free until you collect investor money, then $299 a month for every module, property management included.
Is CREAssets SOC 2 certified?
No. CREAssets holds no SOC 1, SOC 2 or ISO certification, and we will not imply otherwise. The controls in place today are TOTP two-factor authentication, tenant isolation on every query, audit logs on consequential actions and rate limiting on public, sign-in and API routes. We answer security questionnaires on request.
Does CREAssets have a mobile app?
No. CREAssets has no native iOS or Android apps. AppFolio lists an optional investor mobile app, so if that matters to your investors, weigh it.
Can you migrate us from AppFolio?
Yes, at no cost, and your first month on the Platform plan is free. You get a migration plan within 3 business days of sending your exports and your book loaded within 7 business days; you reconcile before go-live. There is no one-click import.
Run your next raise on one platform.
Sign up free and build your first deal today. Upgrade only when you collect investor money — and if you are moving from another platform or from spreadsheets, we migrate you at no cost and your first month is free.