Flock Homes - 721 Exchange

[Angela P.]

Has anyone had any experience with this company? Curious to know how it's going and if it's a good alternative to selling my properties or trying to do a 1031 down the road. 

[Nuatu Tseggai]

I contributed a home recently (May 2022).

Overall process was relatively smooth. Although there were a few miscommunications internally at Flock which I had to clarify/follow up on to rectify. 

The home I contributed is a San Antonio SFR that I'd rented out since purchasing it brand new back in 2005. Remaining principle on the mortgage was paid by Flock at closing ( ~60K), so my shares at Flock represent the equity in the home that I'd accumulated from appreciation and principal repayment over the last 17 yrs.

I like their approach/strategy. Hopefully a) they meet/exceed my expectations over time and b) more auditable info/data comes into existence based on the experience of Flock shareholders, in contrast to the rather limited info/data that exists today.