The home-flipping startup, which launched in the fall of 2018, previously operated exclusively in Dallas, Tampa and Charlotte.

Bungalo Homes, an Amherst Holdings-backed home-flipping startup, has expanded to Atlanta and Nashville.

Launched in the fall of 2018, Bungalo buys older or distressed homes, renovates them and then sells them on their platform, which lets buyers search, tour and close on the properties online.

It previously operated exclusively in Dallas, Tampa and Charlotte. The expansion, Bungalo President Deborah Bradley told Inman, came after evaluating market conditions and finding that both Atlanta and Nashville have increasing numbers of people looking for housing — both young families and people moving to these cities for work.

A Bungalo home for sale in Atlanta. Bungalo Homes.

“I live in Atlanta,” Bradley told Inman. “I kind of live and breathe these markets and know that people are yearning for renovated homes that are ready to move into.”

The company uses deep data and market analysis to find homes that are likely to increase in value and puts in anywhere from $20,000 to $250,000 into sprucing each one up. At the moment, Bungalo has $150 million in backing, with another $1 billion committed by real estate giant Amherst Holdings.

It has been using the recent growth to expand its platform — adding features for easy searching and pop-ups that tell details such as the year and days on the market. Bungalo also hopes to soon introduce digital renderings of what a house that is currently being repaired will look like in due time.

A Bungalo home up for sale in Nashville. Bungalo Homes.

“We’re really focused on meeting the consumers in that neighborhood at their level,” Bradley said, adding that they are careful about not creating homes that drastically increase property values and eventually make the entire neighborhood unaffordable for its original residents. “We’re not trying to take a home and overbuild for that neighborhood. We’re really mindful about helping buyers get into neighborhoods that they can afford.”

Bradley said that, as the years goes on, Bungalo hopes to expand its outreach and bring the total number of homes sold to over 500 by the end of 2020. They are currently working to bring more homes on the market in different cities — an additional 15 to 30 houses in Nashville and another 35-40 in Atlanta.

“We’re really trying to turn around those homes and make them valuable both for the house itself and for the neighbors around them.”

Email Veronika Bondarenko

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We are less than 1 week away from Inman Connect! Get your ticket for $99 before prices go up next week.GET YOUR TICKET×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription