BY BRAD BECKETT ON OCTOBER 14, 2018
Bloomberg is reporting that Amherst Holdings, one of the largest single-family landlords in the U.S., plans to invest more than $1 billion next year in an effort to to purchase, renovate and resell properties to reportedly simplify the consumer experience of buying a home. Currently Amherst owns or manages around 20k single-family rentals. The new venture was called Bungalo Technologies, LLC and was launched last month in Texas and Florida.
“Amherst is starting the business as a shortage of homes for sale has driven up prices and created hot competition for available listings, prompting bidding wars and all-cash offers and forcing prospective buyers to shoot first and ask questions later…”