• Regional Director, Acquisitions

    Job ID 2017-1086
    Job Locations
    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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