Ari Rubin, Flock Homes – Exchange Fund for Residential Rental Properties
About this episode
Ari Rubin discusses tax-efficient exits for residential real estate and the operations of Flock Homes.
In today's episode, we sit down with Ari Rubin, Founder & CEO of Flock Homes, for a deep dive into tax‑efficient exits for residential real estate through 721 exchanges into the Flock Homes fund. Ari was born in Brooklyn, Harvard undergrad, served in the Israeli military, and attended (then left, like many successful entrepreneurs in the Bay area) Stanford University to build Flock full‑time. Based on his background and our offline conversations, it sounds like he is just getting started with some big ideas. Today's discussion frames the core problem facing mom‑and‑pop landlords: concentrated property holdings, large, unrealized gains, depreciation recapture, deferred maintenance, and the desire to stop active land lording. Ari explains why many landlords underestimate true yield and why operational burden—not diversification—is the real pain point. We then explore how Flock Homes works: asset scope, intake process, valuation, fees, liquidity, leverage, and quarterly cash flows. Ari compares Flock's structure to Delaware Statutory Trusts, outlines return expectations. The conversation also covers resident continuity, operations across ~20 markets, impact on vacant homes, and…
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