Big Single-Family Landlord to Spend $1 Billion on Home-Flipping

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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…”

Click here to read the full story on Bloomberg.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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