Annual Awards Program Recognizes Innovation in the Global Real Estate Technology Industry
LOS ANGELES, Aug. 18, 2022 /PRNewswire-PRWeb/ -- PropTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout real estate technology companies, products and services around the globe, today announced that Flock Homes, has been selected as "Investment Management Platform of the Year" in the 2022 annual PropTech Breakthrough Awards program. Flock is a Series A Fintech startup, led by CEO and Founder, Ari Rubin, on a mission to build a better way to own real estate, starting with single-family rentals ("SFR").
Flock was built to solve real problems for landlords. Flock's unique platform offers landlords - who today deal with the day-to-day hassles of property management - a solution that seamlessly and tax-efficiently converts their active ownership to passive. Flock's exchanges provide real estate owners a simple, tax-deferred, and cost-effective alternative to selling by converting their equity into shares of Flock's managed portfolio of single-family homes. With Flock, owners maintain all the benefits of traditional real estate investing, including regular income and long-term appreciation - without the burdens. Further, Flock's sophisticated technology and experienced team give individual investors the same advantages enjoyed by large institutions including best-in-class operating scale and diversification.
Flock's platform prioritizes simplicity and transparency for owners. Current landlords answer a few questions about their property, and using their tech and category expertise, Flock evaluates a property and provides a custom valuation within 24 hours. If Flock is the right solution for a current landlord, in a matter of days, Flock can address title transfers, mortgage payoffs, and 1031 exchanges, with all landlords ultimately achieving passive ownership in Flock's portfolio. Unlike a traditional sale, joining Flock doesn't trigger depreciation recapture and capital gains taxes, as Flock uses either 721 or 1031 exchange mechanisms to provide elegant exit solutions for owners.
Flock recognizes the importance of regular income for real estate investors and pays quarterly distributions to its owners. Owners have anytime access to their Owner's Portal to view quarterly returns, important documents, and other notifications. Owners can redeem shares at once, over time, or pass them onto heirs without a taxable event. To-date, Flock has paid out over $500K of passive income to their owners.
"We've built a platform focused on solving a very real problem for the millions of Americans who own rental property. We've assembled a world-class team and are building highly scalable technology with the goal of delivering better financial returns to our owners and better homes to our residents and the community." said Ari Rubin, Founder and CEO of Flock. "Simply put, Flock is the first fully passive, diversified, and low-cost way to exit the traditional hassles of owning real estate."
The mission of the annual PropTech Breakthrough Awards program is to conduct the industry's most comprehensive analysis and evaluation of the top technology companies, solutions and products in the real estate technology industry today. This year's program attracted more than 1,500 nominations from over 12 different countries throughout the world.
"Being a landlord has historically been a powerful path to wealth creation. However, while traditional investments like stocks or bonds can provide passive income, appreciation and trade with ease, a landlord faces day-to-day demands of ownership like maintenance - and selling real estate is costly. Additionally, aggregation is challenging in SFR with landlords of just a few doors lacking diversified market exposure, economies of scale and sophisticated technology that drive better operating income and service to residents," said Bryan Vaughn, Managing Director of PropTech Breakthrough Awards. "With a world-class team, a focused roadmap that solves real problems landlords face daily, Flock is making waves and changing the real estate and PropTech segment for the better. Owners are finally free of the day-to-day burdens of being a landlord. Congratulations on being our choice for 'Investment Management Platform of the Year.'"
In just over a year, over 200 homes have been added to Flock's portfolio. The company operates in a handful of cities across Colorado, Texas, Washington, Missouri, and Kansas, and is preparing to launch several new states across the Southeast and Southwest.
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About PropTech Breakthrough
Part of Tech Breakthrough, a leading independent market intelligence organization for global technology innovation and leadership, the PropTech Breakthrough Awards program is dedicated to honoring and recognizing the creativity, hard work and success of companies, technologies and products in the larger field of real estate technology. The PropTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough Real Estate Technology companies and products in categories including Financing, Property Management, Short Term & Vacation Rental, Shared Space, Marketplaces, Investment & Crowdfunding, Agent Tools & Services, Property Closing, Insurance, Construction Tech and more. For more information, visit PropTechBreakthrough.com
About Flock Homes
Flock Homes is a real estate technology firm bringing sophisticated investing approaches to individual rental property owners. Flock's digital platform allows owners to simply and seamlessly convert rental properties into shares in a managed portfolio of homes to optimize ownership and performance. For more information about Flock Homes, visit http://www.flockhomes.com.
Media Contact
Bryan Vaughn, PropTech Breakthrough, 949.529.4120, [email protected]
Kristin Laughlin, Flock Homes, 248.396.9122, [email protected]
SOURCE PropTech Breakthrough
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