A Billion-Dollar Bet on Home Flipping

Amherst Holdings, a large-scale single family landlord, has rolled out a subsidiary to buy and renovate houses for resale.

Read Time: 1 minute

September 27, 2018, 7:00 AM PDT

By Philip Rojc @PhilipRojc


Charlotte Housing Development

American Spirit / Shutterstock

Taking advantage of a tight housing market, Patrick Clark writes, a wide field of companies is trying to make a profit by simplifying the home buying process. One of them, Amherst Holdings LLC, has launched a service called Bungalo Homes, "packaging a series of features it says can improve the experience of buying a home. The company is offering no-haggle pricing, listing homes for sale on its website and promising to sell to the first pre-approved buyer to meet its price."

It's also offering warranties, mortgages, and features to help buyer manage all the moving pieces. Bungalo's business model is essentially home flipping: it acquires and fixes up properties and resells them, betting that its platform will attract buyers who must otherwise "to shoot first and ask questions later."

In its main line of business, Amherst Holdings owns or manages around 20,000 single family rentals. Executives cite that expertise as a selling point for Bungalo, which launched this month with 25 renovated homes listed in Dallas and 10 in Tampa, Florida. 

Tuesday, September 18, 2018 in Bloomberg

Chicago Commute

The Right to Mobility

As we consider how to decarbonize transportation, preserving mobility, especially for lower- and middle-income people, must be a priority.

January 26, 2023 - Angie Schmitt

Sharrow bike markings on black asphalt two-lane road with snowy trees

Early Sharrow Booster: ‘I Was Wrong’

The lane marking was meant to raise awareness and instill shared respect among drivers and cyclists. But their inefficiency has led supporters to denounce sharrows, pushing instead for more robust bike infrastructure that truly protects riders.

January 26, 2023 - Streetsblog USA

View of stone-paved street with pedestrians and "Farmers Market" neon sign on left and old buildings on right in Seattle, Washington

Push and Pull: The Link Between Walkability and Affordability

The increased demand for walkable urban spaces could make them more and more exclusionary if cities don’t pursue policies to limit displacement and boost affordability.

January 27, 2023 - Smart Cities Dive

Crosswalk with pedestrians in front of four-story red brick buildings in New Haven, Connecticut

Opinion: Connecticut Vision Zero Bill A Step in the Right Direction

The proposed legislation could energize efforts to eliminate fatal crashes and fix the structural flaws that make roads inherently more dangerous.

15 minutes ago - CT News Junkie

View of Tacoma, Washington with Mount Rainier in background

Tacoma Developing New Housing Policy

The city’s Home in Tacoma plan is designed to address the region’s growth and rising housing prices, but faces local backlash over density and affordability concerns.

February 2 - The Urbanist

Green alley under construction

Green Alleys: A New Paradigm for Stormwater Management

Rather than shuttling stormwater away from the city and into the ocean as quickly as possible, Los Angeles is now—slowly—moving toward a ‘city-as-sponge’ approach that would capture and reclaim more water to recharge crucial reservoirs.

February 2 - Curbed