Details
Posted: 10-Jun-22
Location: Austin, Texas
Type: Full Time
Preferred Education: 4 Year Degree
Responsibilities
Underwriting
- Study and evaluate investment opportunities, which includes:
- Detailed rent roll, income and expense analysis
- Value add analysis
- Market/submarket analysis including job growth, supply/demand, etc.
- Conducting asset tours and tours of relevant comparable communities
- Rent projection and analysis with data support
- Exit strategy analysis with data support
- Preparation of detailed investment committee packages which will be used to present investment opportunities to Morgan’s investment committee
Acquisition Process Management
- Maintain the pipeline of acquisition opportunities that the Acquisitions team is tracking
- Maintain a regularly updated list of sales comparable data in each of the target markets for the Acquisitions team
Due Diligence Oversight
- Manage a due diligence checklist and coordinate third-party inspections for all acquisition opportunities that are under contract
- Work with Operations to manage the unit walk inspections performed by Morgan’s operation teams
- Aggregate and organize findings from the due diligence process (unit walk data, third party reports, capex needs etc.)
- Present feedback to VP of Investments and work to create a memo to formally present findings to Investment Committee with recommendations
- Coordinate with Operations, Marketing and Asset Management to create a defined Year 1 Business Plan
- Participate in post-closing efforts and asset management meetings as needed to ensure compliance with acquisition strategy and Year 1 Business Plan
Expectations of this role include:
- Calm, thoughtful, and high impact presence
- Ability to support and help with the execution of Morgan’s acquisition business plan
- Use of critical thinking to help manage the acquisition process and provide effective collaboration with team members
- Excellent communications and polished presentation skills
- An ability to appropriately manage time and attention between new deal flow & ongoing acquisition responsibilities
- Networking with peers and utilizing relationships in the brokerage and investment community to further support acquisition efforts
To be successful in this position at MORGAN, candidates for this role will possess the following qualities:
Communication Skills
- Excellent written and verbal communication skills
- Detail oriented with strong organizational and analytical skills
- Strong excel modeling skills
- Ability to effectively and efficiently present information and interface with the Acquisitions team, Operations team, and third parties
- Ability to prioritize and work independently; also works well in a group setting
- Consistently achieve results, even under tough circumstances
Strategic Decision-Making
- Two to Three year(s) in a similar role, multifamily real estate or acquisitions background helpful
- Work with the Acquisitions Team to execute and improve the acquisition business plan and process
- Take on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm
- Make and execute decisions that drive the company towards its goals
Ability to Build Relationships
- Anticipate and balance the needs of multiple stakeholders
- Effectively build formal and informal relationship networks inside and outside the organization
- Develop and deliver multi-mode communications that convey a clear understanding of the unique needs of different audiences
