Flock: Modernizing How Real Estate Wealth Is Unlocked

We believe the best companies solve complex problems with simple, elegant solutions. That’s why we are thrilled to lead Flock’s $20 million Series B alongside Andreessen Horowitz, Susa Ventures, and Primary Venture Partners.

Flock is a smarter way for landlords, particularly aging ones, to exit the burdens of property management without sacrificing wealth. As America faces a demographic tipping point - growing demand for passive income, tax efficiency and wealth transfer solutions - millions of property owners are asking the same question: How do I retire from being a landlord without triggering painful taxes or losing income?

Flock’s answer is refreshingly straightforward and deeply powerful.

Attacking a Market at a Tipping Point

The real estate market is facing a perfect storm. Interest rate volatility, the aging population of landlords, and the growing dominance of institutional investors have created unprecedented pressure on individual property owners.

In fact today, Americans aged 70 and older control 30% of all real estate assets (double their share from 25 years ago). As this generation looks toward retirement, gaining liquidity from real estate holdings represents both opportunity and obstacle. And for the 17 million Americans who own rental properties, the prospect of exiting gracefully is anything but straightforward. Selling means clearing out tenants, paying brokers, undergoing renovations, and worst of all, handing over up to 25% of proceeds in taxes. Meanwhile, tax-deferred 1031 exchanges offer only a temporary escape. They don’t deliver true freedom, just another property to manage.

Flock’s solution leverages a lesser-known mechanism called the 721 Exchange. Historically used by the ultra wealthy, Flock democratizes access, enabling any landlord to convert their property into a passive, diversified nest egg.

No tenants. No late-night maintenance calls. No tax hit. Just steady, tax-efficient income and long-term wealth preservation.

In a market desperate for solutions, Flock stands alone in offering landlords a true off-ramp and a way to stay invested in real estate without the headache.

The Flock team at a company offsite.

Purpose-driven

Flock’s mission is clear: empower landlords to transition out of active property management while preserving — and growing — their hard-earned wealth. And Flock has the team to make this a reality.

We first met the Flock team in August of 2023, roughly 18 months before we ultimately invested — and from the outset, their dedication to solving this complex challenge was evident. At the time, Flock was just getting started, sales were entirely founder-led, and the company was navigating a real estate market defined by historic interest rate spikes.

Despite the macro headwinds, Founder and CEO Ari Rubin and his team impressed us with their clear-eyed focus, strong execution and transparency. Ari, in particular, demonstrated an ability to openly discuss the business’s biggest opportunities and toughest hurdles — a trait we believe is essential for building enduring companies.

Over the months that followed, that conviction only deepened. Ari delivered on everything he said he would - thoughtfully scaling the team, advancing the product, and driving revenue with discipline and clarity. By the end of 2024, there was no question: this was a team we wanted to back and a mission we were proud to support.

Flock’s asset classes.

Building a Compounding Advantage

Flock’s approach is innovative and built to scale. By aligning the interests of individual landlords and creating a professionally managed portfolio, the company unlocks network effects and operational efficiencies that get stronger as more landlords join.

Today, Flock’s proven model delivers what landlords want most: freedom without sacrificing wealth. Its first product line is Flock Homes, a vehicle dedicated to single family residential rental homes. The company manages over 860 homes across 17 states nationwide, nearing $200 million in total real estate value. 

With this new funding Flock is expanding into new asset classes: multifamily (buildings with 5-200 units) and manufactured housing (mobile home communities with 5-500 units). 

At Renegade, we back founders reimagining legacy industries with humanity, vision, and precision. Ari and the entire Flock team embody that ethos. By enabling property owners to step away from day-to-day management while driving stronger performance from their assets, Flock is positioned to create lasting value for owners, residents, and investors alike.

We couldn’t be more excited to support them as they help landlords across America turn hard-earned properties into freedom and peace of mind.

We partner with ambitious founders pushing to transform entire industries. If that’s you, let’s talk - hi@renegadepartners.com