Review Time
Flock reached back out to me after about a year from our first conversation and offered a $50 Home Depot gift card if I was willing to have another conversation about exchanging my rental properties into the "Flock." I was still curious but with a healthy skepticism. I had an hour long zoom chat with Chad and liked what he had to say. He followed up with an offer. I had questions on the offer, primarily, they asked me to pay down my mortgage and I didn't have the cash. I asked if my partnership share could be reduced by the additional part of the mortgage. This request did not effect what they would actually be giving me in return for the property. Chad followed up a week later to say he was still working on getting an answer. Since that time (~6 weeks) I have been ghosted. So after 11 emails with Nick and Chad, an hour long consultation, an offer and a follow-up call. They have ceased to exist. I think the concept of the 721 is a good exit plan and am disappointed at this outcome. I think their fees are probably high at 6% entrance fee, but I have not looked elsewhere to be honest. At this point I wouldn't trust an organization that behaved in this way with my livelihood. Additionally, I never got that promised $50 HD gift card, not that that was the point, but just another strike.
Don’t waste your time. After exchanging twenty emails, playing phone tag, having a live call, then more emails and introductions with Evan and Chad, they canceled. Reason? They do not buy houses in my region of Texas. Wish I would have known that ab initio. Another issue is they basically want you to lower the price and pay off most of your mortgage before they even consider it. Even after that, they claim they reject 80% of “reviewed homes.” Finally, you have to pay a transaction fee to buy into the Fund, and then your money is locked up for years. When you sell, you’ll have to pay taxes. Frankly, it’s much easier for you to sell your own home and buy into a DST. That way you control the cash, you don’t pay taxes, and control the DST proceeds and future taxation. I didn’t know any of this until I went through the process. Word to the wise…
Unwanted and Annoying Real Estate Junk Mail Solicitations from Flock Homes, and Flock Homes Failure to Comply with Notice to Cease and Desist. Four Complaints dated August 23, 2024; October 17, 2024; October 28, 2024; and April 28, 2025; were filed against Flock Homes and Ari Rubin with the Federal Trade Commission, the Colorado Department of Regulatory Agencies, the Office of the Attorney General for the State of Colorado, the Consumer Protection of the Office of the Attorney General for the State of Texas, the Delaware Division of Corporations, the Office of the Attorney General for the State of Delaware, the Office of the Colorado Secretary of State, the Office of the Inspector General for the US Department of Commerce, and the Better Business Bureau for Flock Homes Failure to Comply with Notice to Cease and Desist. Flock Homes and its registered agents were mailed copies of said Complaints. COMPLAINANT FULLY INTENDS ON FILING ADDITIONAL COMPLAINTS AGAINST FLOCK HOMES AND ARI RUBIN FOR EACH AND EVERY PIECE OF UNWANTED AND ANNOYING REAL ESTATE JUNK MAIL SOLICITATION RECEIVED FROM FLOCK HOMES. Further, Complainant suspects that a majority of the 5-Star Reviews are fake since they appear to be posted in groupings dated close to one another, but seemingly spaced apart at regular intervals from most reviewers with just a 1-review history. Rather suspicious.
I initially transferred 2 Houston homes to Flock two years ago. After very good and seamless transactions, this summer I also transferred a Phoenix home to Flock. I have only had positive experiences communicating with Danielle, Ari, Chad and others. All are very knowledgeable and helpful. If you no longer want the job, expense and headaches of being a landlord but still want to defer taxes on your properties and continue to receive returns, Flock is an excellent way to go !!
If you are looking for a way to diversify your risk in rental real estate and also get rid of the day to day problems of either managing your property or paying to have it managed, this is the way to go. Your able to keep the property in your estate but now have it comingled with others. This also defers the gains so you keep the government from taking taxes, this way more of your money continues to work for you because of the 1031 format. The best part is if you have a few beneficiaries, instead of selling one property after an inheritance, each person can decide what they want to do with their 'shares'. No one is forced to sell and they get a step up cost basis. Flock does a great job of making this transition smooth and the management from Ari down to the property managers are all focused on the same thing, a great investment for shareholders and doing the right thing for people who rent out our properties.
Flock Homes is a very legitimate option for owners of rental property that want to retire or simply relieve themselves of management. The leadership and employees are very transparent, honest, and responsive. Their digitized portal is state-of-the-art, and they also really listen to how their clients experience their investment reporting. 5 stars!
Having done many 506c investments and given the post-COVID strains on real estate projects, you come to cherish conservatism and transparency, both of which Flock excels at. Their 30% loan-to-value allowed them to keep their sacred promise of never missing a quarterly distribution through the toughest of times. And you know just where their operations stands as they communicate regularly and often.
Flock is a great way to stop managing out-of-town properties but still stay in the SFR asset class. We haven’t been building enough SFR in this country for like 30 years, so bullish on this asset class. Flock also provides instant diversification so any local market downturns are set off by higher-appreciation markets. Highly recommend Flock to anyone who wants their passive investments to stay passive!
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Flock is building the retirement solution for landlords. We offer a seamless and tax-efficient exit from traditional ownership: exchanging a rental property for equal value of shares in Flock's managed portfolio of homes. Owners get steady income, upside potential, and potential tax savings without any hassle, stress, or liabilities.
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