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…
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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.
