Job Description

  • Acquisitions Underwriting Analyst

    Posted Date2 months ago(10/17/2018 4:56 PM)
    Job ID
    2018-2869
    Job Location
    US-AZ-Scottsdale
    Category
    Real Estate Acquisitions
    Company
    Scottsdale
  • Overview

    Progress Residential® is one of the largest providers of high-quality, single-family rental homes in the United States. With more than 30,000 homes in fifteen of the country’s fastest-growing markets, our residents appreciate the flexibility, freedom and convenience of living in a single-family home without the obligations of home ownership. Progress is committed to making the home rental process easy and enjoyable for the 100,000 residents we serve by empowering our team members and investing in innovative systems and technology.

    Over the past three years our portfolio has doubled in size and we have added new executive leadership, including the recent appointment of Charles “Chaz” Mueller to Chief Executive Officer. We see increasing demand for professionally managed single-family rental homes and anticipate continued growth.

    Progress Residential has a national footprint with our executive office located in Dallas, Texas, our corporate office in Scottsdale, Arizona and regional offices in Atlanta, Charlotte, Dallas, Houston, Indianapolis, Jacksonville, Las Vegas, Memphis, Miami, Nashville, Orlando, Phoenix, Raleigh, Sarasota, and Tampa.

    The Acquisitions Underwriting Analyst is responsible for making decisive offers on behalf of Progress Residential by accurately valuing potential acquisitions of single-family rental homes. Leveraging the company’s best in class acquisition platform; the candidate will identify, prioritize, underwrite, offer, and negotiate on hundreds of properties a month through multiple acquisition channels. Through in-person market tours and methodical analysis, the Acquisitions Underwriting Professional is expected develop and maintain an in-depth understanding of their assigned market(s), including, rental rates, property values, competitor activity, and potential bulk sale opportunities.

    Essential Functions:

    • Perform investment analysis and underwriting of single-family residences offered for sale via MLS, Auction, Bulk or New Construction which meet the Company’s purchase criteria and return / yield expectations
    • Complete Comparative Market Analysis (CMA’s) using comparable properties and appraisal methodology to accurately determine property values
    • Incorporate real-time leasing performance trends into neighborhood and asset selection, by underwriting inclusive of supply-demand trends to better inform market rents
    • Manage offer success ratios to achieve our desired acquisition targets with the highest levels of resource efficiency

    Qualifications:

    • Possess understanding underwriting functions
    • Strong organizational skills, attention to detail, and the ability to handle multiple tasks, projects and deadlines
    • Technically proficient in Windows, Microsoft Office applications (especially Word, Excel, Access, and Power Point) and other computer applications
    • College degree or equivalent related work experience required
    • Prior real estate and underwriting experience preferred
    • Experience with property valuations and market data
    • Ability to collaborate and act decisively
    • Highly motivated, with the ability to interact effectively inside and outside the organization
    • Detail oriented
    • Excellent listening, verbal and written communication skills
    • Good organizational skills with the ability to multi-task, prioritize with timely follow up
    • Strong negotiation skills
    • Requires abstract thinking and creative solutions

    What you can expect from us:

    Progress Residential® offers all the financial and non-financial incentives you would expect from an innovative real estate investment and management firm:

    • In addition to outstanding training, we host quarterly summits and town hall meetings to encourage growth, knowledge sharing and a good time. After all, it’s about progress, not perfection.
    • We offer competitive compensation, including a performance-based bonus.
    • Our generous benefits package includes comprehensive healthcare coverage for you and your family, parental leave, paid time off, and 9 paid holidays.

    Closing Statement:

    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 supervisor at any time based upon Company need.

    Progress Residential® is a proud Equal Opportunity employer, m/f/d/v.

    Application Instructions

    Please click on the link below to apply for this position. A new window will open and direct you to apply at our corporate careers page. We look forward to hearing from you!

    Apply Online