Over 25 years, Steve grew a real estate portfolio from an unexpected first investment to a peak of eleven properties, eventually settling at eight single-family homes across North Carolina, Georgia, and Florida. His journey began in the 1990s when, while helping his parents house-hunt, he purchased a property and converted his existing home into a rental. His first tenant, a retired Major League Baseball player, was ideal, but Steve soon encountered the typical challenges of being a landlord.

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As his portfolio expanded, so did the complications. Despite hiring professional property managers in each state, Steve found himself “managing the property managers” and dealing with unreliable contractors.

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“There’s got to be a better way to pass these on to my daughters.”

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Steve's main concern was his legacy. Worried his daughters might not share his real estate passion and burdened by potential depreciation recapture and capital gains taxes, he sought a solution. When his father received a Flock mailer, Steve discovered the 721 exchange, which solved his management and tax issues while offering an easy way to pass on his real estate wealth. "Your homes are converted to shares, and I could split it between my daughters," he explains.

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This way, his daughters could also receive the benefits of a stepped-up in tax basis and continue receiving cash flow and potential appreciation of real estate, without any of the work.

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With his family in mind, Steve chose to "jump all in" and transferred all eight of his properties to Flock's Fund. For Steve, Flock wasn’t just an exit strategy – it was a solution to decades of landlord challenges and a way to ensure his real estate legacy wouldn’t become a strain on his children.

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“Don’t put it off. Think about estate planning now. Because you have no say in the decision if you wait too late.”