What Flock Homes does

Flock Homes operates a real estate investment platform that enables individual landlords to exchange rental properties for shares in The Flock Fund, a professionally managed, diversified real estate portfolio, using an IRS Section 721 Exchange. Founded in 2020 and headquartered in Denver with a registered address in Phoenix, Arizona, the company serves primarily individual property owners (1 to 50+ units) seeking to exit active landlord responsibilities while deferring capital gains taxes, preserving equity, and generating passive income. Flock also targets financial advisors and wealth managers through a dedicated B2B2C partnership program, positioning the 721 Exchange as a way to bring clients' held-away rental real estate onto advisor platforms.

The proprietary technology stack centers on a tech-enabled 721 Exchange platform with a self-serve onboarding flow (up to 10 addresses per submission, accreditation verification, and 24-hour personalized valuations), a client portal providing real-time asset-level reporting and tax document delivery, an automated valuation model (AVM) system refreshed quarterly with third-party appraisals every 24 months, and an annual consolidated tax packet prepared by KPMG (federal K-1, K-3, and state K-1s) delivered through the portal by April 1. The portfolio comprises 860+ occupied single-family homes across 17 states with approximately $200 million in real estate value, a 32.2% loan-to-value ratio, $7.8 million in cumulative cash distributions, and an 8-10% target annualized IRR.

Flock's business model is asset-management-fee driven, charging a 1% annual fee on assets under management (akin to a mutual fund structure), supplemented by transaction-related fees tied to the exchange process. Revenue is recurring and scales with contributed AUM, creating a stable economic engine tied to a switching-cost-anchored investor base. Customer acquisition is multi-channel: direct self-serve onboarding via the website, sales-assisted engagement for larger portfolios, an advisor partnership program, content marketing, SEO, a comparison calculator tool, and earned media (NYT, Forbes, Business Insider, The Real Deal). The company is backed by Andreessen Horowitz (Series A lead, 2022), Renegade Partners (Series B lead, 2025), and other institutional investors.

Name

Flock Homes

Legal name

Flock Homes, Inc.

Website

https://flockhomes.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Flock Homes is a Denver-based real estate investment platform that lets individual landlords exchange rental properties for shares in a managed, diversified fund via IRS Section 721, deferring capital gains taxes and eliminating active management. The company serves SMB landlords, financial advisors, and estate-planning investors across 17 US states.

Ownership category

akta.pro rank

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Asset Management Fees: Flock charges a 1% asset management fee annually on the value of assets under management, similar to traditional mutual funds. This fee covers property management, portfolio administration, and ongoing investor reporting.
2. Property Exchange Fees: Fees associated with facilitating the 721 Exchange transaction, including property valuation, due diligence, legal work, and title transfer. The company handles inspection, legal work, and tax details as part of the exchange process.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Flock Homes operates a tech-enabled 721 Exchange platform that enables individual rental property owners to contribute their single-family, duplex, triplex, or quadplex rentals into The Flock Fund, a professionally managed and diversified real estate investment vehicle. In exchange for contributed properties, owners receive fund shares, defer capital gains taxes, eliminate ongoing landlord responsibilities, and gain passive quarterly income plus long-term appreciation potential.

Product overview

Flock Homes is a real estate investment platform offering a unified ecosystem built around the 721 Exchange as its core mechanism. Property owners exchange their rental properties for shares in The Flock Fund—a professionally managed portfolio of single-family rentals spanning multiple U.S. markets. The platform provides complementary tools including a Flock v Sell Calculator for comparing exit strategies, a Client Portal for ongoing investment reporting and tracking, and an Advisor Toolkit for financial advisors managing client wealth transitions. The ecosystem is designed to enable landlords to retire from active property management while maintaining tax-deferred real estate exposure and generating passive income.

Differentiator

Problem solved

Functional benefit

Products and services

• 721 Exchange A tech-enabled 721 Exchange service that allows individual rental property owners to exchange single-family, duplex, triplex, or quadplex properties for shares in The Flock Fund, deferring capital gains taxes under IRS Section 721 and eliminating ongoing landlord responsibilities.
• The Flock Fund A professionally managed real estate fund composed of single-family rental properties across 17 U.S. states. Investors hold shares in the fund and receive quarterly passive income, long-term appreciation, and tax-deferred growth, with a 1% annual asset management fee on assets under management.
• Flock v Sell Calculator A standalone interactive capital gains tax calculator that compares the financial outcomes of exchanging a rental property through Flock's 721 Exchange versus a traditional outright sale, factoring in taxes, equity retained, and long-term income potential.

Quantifiable outcome

• 860+ homes managed across 17 states with nearly $200 million in real estate value
• +6 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

One partnership is on record.

• KPMGcoreOthersPrepares annual consolidated tax packets for Flock clients including federal K-1, K-3, and applicable state K-1s, delivered through the client portal by April 1 each year.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• EquityMultiple: EquityMultiple is an online real estate investment platform offering diversified funds and individual deals to accredited investors. Comparable in offering institutional-grade real estate exposure to retail and HNW investors through a tech-enabled platform.
• PeerStreet: PeerStreet was a real estate investment platform focused on short-term debt investments in residential properties. Comparable as a fintech-enabled real estate investment platform serving individual investors, though focused on debt rather than equity ownership.
• RealtyMogul: RealtyMogul provides individual investors access to commercial real estate investments through both individual deals and managed funds. Comparable as a real estate crowdfunding and fund platform serving accredited investors.
• Fundrise: Fundrise is a real estate investment platform offering diversified eREITs and interval funds to individual investors. Like Flock, it provides retail-accessible professionally managed real estate funds, though Fundrise's entry path is cash subscription rather than 721 exchange.
• Arrived Homes: Arrived Homes is a single-family rental investment platform that allows individuals to buy fractional shares of rental homes. It is the closest direct competitor to Flock in the SFR-for-individual-investors category, though Arrived is acquisition-focused while Flock is exit-focused.
• CrowdStreet: CrowdStreet is an online marketplace for commercial real estate investing, offering individual deal and fund investments. Similar in enabling individual investors to access professionally managed real estate opportunities through a digital platform.
• Cadre: Cadre is a technology-driven commercial real estate investment platform providing individual investors access to institutional-quality assets. Comparable as a fintech-enabled real estate investment platform targeting individual and advisor-sourced investors.
• Roofstock: Roofstock operates a marketplace for buying and selling single-family rental properties, serving individual investors and institutions. It shares Flock's SFR focus and individual-investor orientation but operates in the acquisition/disposition flow rather than tax-deferred exchange.

Broad incumbents

• YieldStreet: YieldStreet is an alternative investment platform offering real estate, marine, legal, and other private market products to individual investors. Comparable as a broader alternative investment platform that includes real estate funds serving individual investors.

Emerging players

• DiversyFund: DiversyFund offers non-traded REITs and growth funds accessible to non-accredited individual investors. It overlaps with Flock's mission of democratizing real estate investing, though it focuses on multifamily rather than SFR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/flockhomes
• LinkedInlinkedin.com/company/flock-homes

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flock Homes