Regional Director, Acquisitions

2017-1086
US-NV-Las Vegas
Category
Real Estate / Property Acquisitions
Type
Regular Full-Time

Overview

The Regional Director of Acquisitions is responsible for managing the purchase of new homes in assigned market in accordance with monthly goals established by the corporate acquisitions team.

Responsibilities

  • Auction Purchases: Coordinate all aspects of the auction purchase process within local market, including but not limited to the below tasks:
    • Identify potential assets for purchase at auction; perform underwriting analysis to determine if property meets fund investment guidelines.
    • Set initial budget for the scope of work needed to bring the home to a rent-ready status.
    • Complete valuation analysis to ascertain a correct market value and projected rental income
    • Work with required third parties (such as title companies) to determine the viability of the potential purchase
    • Attend auction and bid on appropriate targeted properties
    • Coordinate with internal asset management and paralegal team to ensure that the property is purchased and clear title is obtained
  • MLS Purchases: Coordinate all aspects of the MLS purchase process within local market (utilizing the services of a local brokerage team), including but not limited to the below tasks:
    • Coordinate with local brokerage team to develop an efficient system for sourcing and evaluating potential MLS acquisitions
    • Complete initial and ongoing training with the local brokerage team to ensure that they are accurately completing the initial underwriting, valuation and rental projections for your final review and approval
    • Execute offers and provide instruction to the brokerage team on how to negotiate each offer
    • Finalize purchase contract and coordinate with internal resources (asset managers and paralegals) to ensure that the property is entered into the system and due diligence commences
    • During due diligence, work with construction/initial rehab team to ensure that the rehab budget is verified and determine whether to proceed with the deal, negotiate a price reduction or terminate the contract
  • Coordinate with the brokerage team to negotiate pricing and execute a binding offer.
  • Once asset is purchased, work with construction team to ensure that repairs and renovations are completed on time within budget.
  • Interpret, analyze, and forecast local real estate market trends and provide feedback to corporate acquisitions team.
  • This brief summary is not an all-inclusive description of job duties. Other job duties and responsibilities may also be assigned by the incumbent’s manager at any time based upon Company need.

 

Qualifications

EDUCATION AND EXPERIENCE REQUIREMENTS

  • Bachelor’s degree in business, real estate or finance with at least 2 years of experience in the real estate industry or at least 5 years of progressive experience in the real estate industry .
  • Real Estate License for applicable market required; Managing Broker License strongly preferred.
  • Experience with REO asset management.
  • In depth knowledge of evaluating the market value of a property.
  • The ability to understand real estate market trends and legal parameters in various geographical locations.
  • Exceptional ability to communicate with clients, vendors, and coworkers, both verbally and in writing.
  • Ability to think strategically and execute plans accordingly.
  • Intermediate computer skills with the ability to learn a specialized software.
  • Basic understanding of Microsoft Excel is required – proficiency is a plus
  • Ability to multi-task and adapt to a fast-paced, changing environment.
  • Willingness to travel as needed.
  • Yardi experience a plus.

WORKING CONDITIONS

  • Work primarily in a climate-controlled environment with minimal safety/health hazard potential.
  • Sedentary, sitting, walking, occasional lifting from floor not to exceed 20 lbs.
  • Frequent near vision use for reading and computer usage.
  • Repetitive use of hands to operate computers, printers, and copiers
  • Up to 60% of the work day may consist of driving
FirstKey Homes is an equal opportunity/affirmative action employer. M/F/D/V

 

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