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11 May 2022

Full-Time VP of Multifamily Asset Management

RealtyMogul – Posted by RealtyMogulHR Anywhere

Job Description

About RealtyMogul

RealtyMogul’s mission is to empower investors to live the lives they want by generating wealth through real estate investing.

Founded in 2012, we are ranked the best one-stop shop for real estate crowdfunding by Motley Fool.

On the Platform, investors pool their money together to invest in commercial real estate deals they may not normally have access to on their own including multifamily, office, retail, industrial and ground-up development. And the best part? The real estate companies manage the properties, providing a truly passive real estate investing experience.

Investors can also invest in one of two REITs (Real Estate Investment Trusts), where a single investment gives them access to a portfolio of professionally managed properties that can potentially pay monthly or quarterly cash distributions.

RM Communities is the direct acquisition arm of RealtyMogul, a digital platform where investors have invested in over $4.7 billion of real estate, including historical investments in over 24,000 apartment units. We seek to uncover underappreciated high-quality real estate assets, with a current focus on multifamily assets in stable and emerging U.S. markets.  Every property has a story, and we believe different properties have different needs.  Our current acquisitions strategies target well-located properties with in-place cash flow and the opportunity to drive through operational enhancements and/or renovations.

About Your Role

RealtyMogul’s direct acquisitions group, RM Communities, is seeking a Vice President of Multifamily Asset Management to help oversee and expand its multifamily portfolio with an emphasis on both value-add and stabilized class A and B assets.  The ideal candidate will have strong asset management experience including managing capex budgets, and working on acquisitions, dispositions and refinancings.

The candidate should have at least 8 years of experience and a proven track record of success in real estate analysis and operations. The Vice President of Asset Management must have the ability to work independently and in collaboration with the rest of the asset management and acquisitions teams and other RealtyMogul team members.

The Vice President of Asset Management has responsibility for overseeing a team of asset managers with the goal of maximizing the performance of the portfolio.

This role is remote, United States.

Must be eligible to work in the U.S

What You’ll Do: 

  • Hire, train, manage and mentor a team of asset management associates and analysts, including the development of training materials, setting KPIs and expectations and building career ladders
  • Prepare analysis to be used in decision-making, including buy/sell/refi analysis and provide recommendations to investment committee
  • Lead quarterly asset reviews and identify assets that are underperforming / communicate potential recommendations and solutions to Managing Director based on best practices
  • Define and implement processes, systems, and procedures to scale the asset management function across the organization and automate everywhere possible
  • Manage a team to ensure all quarterly distributions, refinancing and sale distributions are properly sent to investors, including reconciliation of balance sheets, cash flow statements, operating agreements, and underlying waterfall splits to ensure accuracy
  • Ensure investor letters are completed with 100% accuracy within 35 days of calendar close for all investments
  • Manage the annual K-1 delivery process, ensuring K-1s are finalized for distribution to all investors in a timely manner
  • Prepare materials for executive team and board reporting
  • Run weekly calls with third-party property managers to proactively execute business plans
  • Review and approve monthly financial statements
  • Oversee leasing, including hitting occupancy and rental rate goals
  • Manage value-add initiatives, including unit renovations, CapEx, reducing expenses, and growing other income
  • Track and reforecast financial performance compared to original underwriting and annual operating budgets
  • Analyze and approve annual operating budgets
  • Produce timely and accurate investor reporting and distributions on a quarterly basis
  • Coordinate with lenders on loan covenants, reporting, and draw requests
  • Oversee dispositions and refinances

Who you are:

  • Extreme attention to detail and comfort with multitasking
  • Deep understanding of property operations and reporting
  • Deep understanding of real estate loan documents and operating agreements, including exposure to interpreting and modeling waterfalls
  • Love of management and developing team members to achieve their full potential
  • Systems orientation with experience developing and implementing automation and processes to scale
  • Advanced skills in Microsoft Office, including Excel and PowerPoint
  • Proficient in Yardi and MRI software
  • Proven experience in executing business plans for value-add multifamily investments
  • Ability to travel to properties on a quarterly basis

How to Apply

Job Application for VP of Multifamily Asset Management at RealtyMogul (greenhouse.io)

Job Categories: Equal Opportunities. Job Types: Full-Time. Salaries: 100,000 and above.

Job expires in 31 days.

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