Job details
Salary $60,000 – $80,000 a year
Job Type Full-time
Number of hires for this role 1
Qualifications
- Bachelor’s (Preferred)
- Real Estate Asset Management: 3 years (Preferred)
Full Job Description
Portfolio Manager
Our ideal team member will be responsible for Asset Managing Multifamily Assets:
- Monitor a growing portfolio of multi-family properties located in the South Eastern United States
- Report on and enhance property operations with a goal of:
- Accurately and systematically reporting clearly and concisely property performance against a variety of goals
- Increasing performance against those goals, and,
- Protecting and ensuring the long-term viability of assets
- Analyze property assets, recommend and implement improvement strategies to maximize operational performance of the portfolio
Travel: Approximately 10%. Must have a valid drivers’ license.
Essential Duties & Responsibilities:
- Under the direction of the leadership team, oversee the operations of the company’s investment properties.
- Create, solicit input, then distribute quarterly performance reports to investors
- Review and monitor monthly operational reports and evaluate property performance:
- Summarize operations for review by principals
- Highlight property performance vs. goals
- For adverse issues
- Investigate issues by interacting with the management company
- Document explanation from management company
- Solicit plan(s) for remediation, including schedule, and build a consensus plan with management company and MACP
- Document progress towards goal
- Highlight/expose patterns around adverse issues
- Maintain database of critical information for each deal (loan terms, ownership structure, required repairs, reserve balances, capital flow etc.) and track key items and dates
- Create and maintain investor return scenarios per asset in relation to distributions, refinancing, sale
- Create, implement, and maintain a communication policy for investors and partners involving direct interaction and social media
- Oversee our compliance with lender and insurance operational and deferred maintenance requirements
- Assist in deal closings including soliciting 3rdparty reports, receiving and organizing reports and data, and related tasks
- Assist with organizing and backfilling information on older transactions
- For new construction or acquisitions with value-add improvements:
- Maintain schedule and cost budget
- Provide weekly updates on progress
- Highlight delays or concerns
- Research and understand driving forces in individual property markets, recognizing when trends might be working with or against our investments
- Provides support and analysis to our management partners with the goal of increasing profitability and reducing risk
- Identify partnerships that require Watchlist status and develop strategies to address all issues
- Travel once/6 months to each property for general observation of condition, meeting with property management staff, reinforcing performance goals
- Assist in maintaining and updating company’s profile on social media
- Performs other duties and responsibilities as assigned
Qualifications
Knowledge and Skills:
Knowledge of:
- Institutional asset management
- Advanced concepts, principles and practices of multi-family real estate/housing operations, including property inspections, property management and property maintenance
- Knowledge of real estate finance.
- Knowledge of institutional investment strategies and partnership structures
- Accounting principles.
Skill in:
- Strong analytical skills & financial acumen
- Use of MS Office products
- Document Management technology (currently Dropbox)
- Communication, both orally and written
- Follow-up to ensure resolution and completion of tasks
- Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets
Educational/Previous Experience Requirements:
Bachelor’s Degree (B.A.) in related field and a minimum of three (3) years of multi-family asset management experience
~or~
Any equivalent combination of experience, education, and/or training.
Job Type: Full-time
Pay: $60,000.00 – $80,000.00 per year
Benefits:
- Dental insurance
- Health insurance
- Paid time off
- Relocation assistance
- Retirement plan
- Vision insurance
Schedule:
- Monday to Friday
Supplemental Pay:
- Bonus pay
COVID-19 considerations:
Currently all employees are in their own offices with doors. Masks are required when interacting with other staff. Office is regularly cleaned by professional staff.
Education:
- Bachelor’s (Preferred)
Experience:
- Real Estate Asset Management: 3 years (Preferred)
Work Location:
- One location
Typical start time:
- 8AM
Typical end time:
- 5PM
Company’s website:
Benefit Conditions:
- Waiting period may apply
Work Remotely:
- No
COVID-19 Precaution(s):
- Personal protective equipment provided or required
- Social distancing guidelines in place
- Sanitizing, disinfecting, or cleaning procedures in place
