Flock HomesReviews of flockhomes.com

My 12 doors were a great investment for retirement. At age 40, I walked away from a corporate job (and defined benefit plan) and starting an investment advisory business from scratch. Today it's still a one man shop managing long term portfolios for a couple dozen familes & a church. During the financial crisis (when growing this business was impractical) I stepped out and bought some rental houses that were in very bad shape but attractively priced. BIG risk but worth it! The goal was to pay them off with the rents & sell them one at a time to live on in retirement. Retirement is now here. I overlooked one thing...selling one at a time means capital gains taxes, yes, but also means continuing to manage the balance of homes...the opposite of retirement! I'm TIRED. A Flock add showed up on Facebook so I called.... As a fiduciary advisor & educated investor, I spent months checking out Flock: asking good questions, getting good answers, and exploring options. Most importantly, I was being taken seriously and responses were thoughtful & timely. Finally, Ari Rubin flew to Charleston, SC (Dec 2023) to meet in person, tour my properties, and discuss over dinner with Tina & me. We got to know each other and I recognized that he is as honest and sincere in this endeavor as I am in my own business. Since I'm not always the keenest judge of character (too trusting) Tina was there to double check me...& she agreed! We transferred 9 of my 12 doors six weeks later. The reasons for not doing all 12 were: a) one tenant owes me a lot of missed rent (from COVID) and b) we just couldn't agree on the value of the duplex. This year we transferred the duplex at a fair value and next year I'll transfer that house...but never got a dime of the back rent! Working through the process twice (18 months apart) with staff has reassured me that everyone on board is as genuine, serious and dedicated as Ari. They continue to take my questions seriously and get me answers in a timely manner. I believe they are in this for the long haul, as am I and as will be my children & grandchildren. As an investor and as an analyst, I've attended the last two annual meetings. Flock continues to impress. This year, especially, reassured me they are on top of the latest technology AND technology that's on the way (think AI). That first meeting was two years ago. I'm still convinced this was the best decision for my family so would encourage you to check it out, too. Jay Jackson Moncks Corner, SC

Anyone who owns rental properties has been bombarded in the last few years from unsolicited buyers by mail, text, email, or phone calls. The options to sell property is not good for the seller tax wise. After researching the 721 exchange process Flock Homes makes sense in every way. Professional people make the process easy. Danielle and Chad are great to work with.

I’ve been a Flock Investor since May 2024. I contributed 8 properties from 3 different states, NC, GA, and Florida. I had owned these properties from 7 to almost 40 years. The process from initial evaluation, to property inspection, to final offer and closing went smoothly with no surprises. The Flock Team is talented, uses technology to its fullest advantage, and is committed to continuous improvement. Do your due diligence but know that if you do not pre determine your exit strategy as a real estate investor it will eventually be decided for you. Appreciation, Income, and tax advantages remain with tremendous benefits for your eventual heirs.

I have done 2 transactions with flock and have been really impressed by their operational team from the get go. They are not going to nickle and dime you on the valuation and the entire close process takes less than a month (even faster if one wants). I was able to sell one with existing tenant without any issues. I plan to do several more transactions with Flock over the coming years.

I was one of the earlier owners to put homes into Flock's fund. From day one, everything has been smooth. The transfers were easy and Flock has provided great communications and consistently hit their numbers since then.

The mixup with who's paying to install a fence at 7604 Pennsylvania was very upsetting but the Flock employees with whom I dealt did a great job.

Update: While I stand by my original review. I want to acknowledge the response that I received directly from the CEO, Ari Rubin. I think reviews should be a learning experience and Ari agreed. We had a good discussion and he apologized for the failed communication. For this acknowledgment of the mistakes made, I felt it was only fair to upgrade my rating, I appreciated being heard. And...he made good on the Home Depot Gift card, and provided evidence that it had indeed been sent originally. Original review. 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…