Amherst Holdings has plans to launch Bungalo, a subsidiary, to purchase, renovate and resell single-family properties, combining the home-flipping business with new features to simplify the consumer experience of buying a home, according to Bloomberg.
The company has already invested $225 million on Bungalo’s launch this year and has plans to add an additional $1 billion for expansion efforts.
Thus far, Bungalo has more than 250 homes under repair and plans to expand into markets people want to live in and are moving to.
