Here's how Flock makes it work.

The 721 exchange, made accessible to landlords.

How it Works 721 Diagram
Section 721 of the US Internal Revenue Code (“the 721 exchange”) is a tax strategy that has been used by Wall Street investors since the 1950s.Flock Homes is the first to bring it to individual investors. With Flock, landlords can use the 721 exchange to seamlessly exchange their rental properties, tax-free, for direct ownership in a residential real estate fund.

What is the process?

STEP 1
Get a valuation & discuss your needs.Get a free, no-obligation valuation on your properties, and discuss with one of our experienced Single Family Rental Directors whether Flock is the right fit for you.
Get a valuation & discuss your needs. Image
STEP 2
Perform due diligence.We’ll provide you resources, such as fund financials and reference calls with current investors, to vet us. In parallel, we’ll conduct a home inspection to lock in your valuation.
Perform due diligence. Image
STEP 3
Sign the Contribution Agreement.Once you accept the valuation, we’ll draft a Contribution Agreement (similar to a Purchase and Sale Agreement) for you to sign.
Sign the Contribution Agreement. Image
STEP 4
Complete onboarding to close.We’ll help you complete the online title and closing process, all from the comfort of your own home. Congratulations on joining our fund of 874 homes!
Complete onboarding to close. Image
STEP 5
Owning with FlockAs a Flock Client, access your investor portal anytime, anywhere, to view fund financial details and fund activity. Passively own with full transparency.
Owning with Flock Image
STEP 6
Earning with FlockEvery quarter, take cash flow or leave it in to build your nest egg. Within the portal, view your financial performance and detailed tax performance.
Earning with Flock Image
STEP 7
Tax & Estate Planning with FlockFlexibly allocate your Flock investment to your heirs (who receive a step-up in tax basis upon passing) or redeem them for cash to spread out your tax burden.
Tax & Estate Planning with Flock Image

Keep the benefits of real estate, without the hassle.

Seamless Exchange

Collaborative, streamlined transaction

No qualified intermediaries necessary

No identification or exchange periods

Effortless Ownership

Easy and reliable earnings

Transparent and detailed reporting

Flexible tax and estate planning

Landlords, retire and minimize taxes.

Get Started
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Disclaimer: All content presented here is purely informational. It is not personalized investment advice, nor should it be construed as financial, legal, or tax advice. It is intended for information gathering only. The information presented here is not an offer to buy or sell securities or a solicitation of any offer to buy or sell securities. A professional financial advisor, attorney, and/or tax professional should be consulted regarding your specific financial, legal, and/or tax situation. Please also note that certain visuals and metrics included on this site have been calculated and are only up to date as of May 23, 2025.
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