Elmhurst approached Audacia to develop a new technology platform to manage every process from property acquisition to renovation, management, valuation, and finally, to exit. The platform was released live earlier this month.
Elmhurst Capital is an asset management firm focused on single-family home investments in the United States. The US has one of the most affordable housing markets in the world, especially when compared to other developed countries. The median house price is only 3.2 times the median annual household income. This compares very favourably to many other markets; for example, in Hong Kong it would cost over 13 times the median annual household income to buy the median home.
Elmhurst is based in Atlanta, Georgia where the median house price to median income is 2.0, which is one of the lowest for any major housing market in the world. Atlanta’s population also grew by over 120,000 per year between 1990 and 2010. The Atlanta Regional Commission forecasts that it will continue to grow by over 97,000 per year this decade. This continued population growth means demand for homes will continue to increase.