Multifamily Asset Manager
PPA - Asset Management | Austin, TX | Full Time
Come join an award winning team, who just happens to have one of GlobeSt's Best Bosses of 2020 winner and Shark Tank Alum as our CEO. We're innovative, growth minded, and making huge marks in the world of Multi-Family.
We are seeking an entrepreneurial-minded addition to our growing team. This position will serve as the Asset Manager in overseeing a portfolio of A, B and C multi-family assets with a core focus on value-add renovation. The focus of this role is to asset manage the Casoro Group's Texas assets.
Maximize the value of assets through oversight, streamlining processes and analysis of property efficiencies while identifying opportunities for improved performance. This includes, but not limited to:
- Direct oversight of asset business plans, budgets, forecasts, analysis and reporting.
- Communicate and follow-up on expectations with other cross-functional teams, including acquisition, property management, construction management, risk management, tax consultant and accounting in the execution of strategic business plans for the assets.
- Work collaboratively with regional and property managers, legal counsel, auditors and accountants as well as development, construction, accounting and finance groups.
- Oversee the renovation flow with regular communication from Construction Manager.
- Oversee distribution of lender mandated reports and oversee lender inspections and covenants such as debt service ratio coverages.
- Prepare and distribute periodic asset management reports to investors, consultants and other partners
- Oversee the annual budget process which includes a detailed review of all budgets, comparisons of budget projections to historical performance and comparison of budget projections to industry benchmarks.
- Conducts regular asset reviews and performs detailed review of monthly financial reports working directly with property management. Includes monthly review of financials, occupancy and renovation schedules.
- Conduct routine meetings, site visits, and/or conference calls with property management to discuss asset-level strategies and operational issues.
- Assists in pre-acquisition input and due diligence including review of financial and operational documentation to include underwriting, structuring and third-party reports.
- Proactive development of market knowledge and data to assure management and asset accountability.
- Manage coordination of post-acquisition activities and integration of asset into the firm’s ownership portfolio.
- Responsible for the asset disposition process from acquiring BOV, contract negotiation and delivery of DD materials and proration review.
- Identifying opportunities to increase income while reducing expenses such as appealing real estate tax assessments utilizing third-party consultants.
- Coordinate portfolio insurance expenses and all claim management.
- In addition to all of the duties above, the multifamily asset manager must also have industry specific knowledge. The deliberate focus is to increase profitability while maintaining the asset. This includes guidelines to third party managers for the financial requirements, including leasing expectations, as well as the property’s physical objectives.
MINIMUM ACCEPTANCE QUALIFICATIONS
- Bachelor’s Degree: Business, finance or accounting preferred.
- Prefer experience in Multi Family real estate - asset management, property management.
- Value add multifamily experience preferred.
- Must possess an entrepreneurial and customer-service driven approach to asset management.
- Highly developed interpersonal, analytical and communication skills (verbal and written).
- Strong organizational and decision making skills.
- Proactive thinking with detail-oriented and creative problem solving approach, with the ability to step back and understand the “big” picture.
- Ability to prioritize workload and manage projects effectively.
- Must maintain a quality work product in a time-sensitive environment, therefore, time management and ability to multi-task is necessary.
- Ability to work independently as well as part of a cohesive team.
- Must be extremely advanced Excel, Word and Outlook experience.
- Experience with Yardi is beneficial but not required.
- Spreadsheet development and analytical proficiency required.
- Travel is required to visit assets for inspections, property manager meetings and market tours.
- Salary Range $90,000-$100,000 based on experience and skill set