Description
COMPANY OVERVIEW:
You will find deep satisfaction in this remote position if you enjoy focused, independent work with clear expectations and strong support to help you achieve success.
Who We Are
Patriot Family Homes is a place where people come first, and we take pride in our work. Founded in 2018 by US Army Veteran Joe Riley, Patriot Family Homes was created to assist in helping meet the need for affordable, reliable housing in the South, particularly near military bases. Since then, we have grown from a handful of homes to 500 properties in 25+ markets with 75 employees, offering services to clients in:
- Property Management
- Lease to Us Programs
- Management Support
- Temporary Housing Relocation
Additionally, we are nearing the end of a capital raise that will allow us to buy an additional 1,000 homes within the next two years. This will necessitate hiring another 100 employees over that time frame, making us the largest owner-operated chain of short-term rentals in the nation, with plans to further expand to 25,000 homes globally over the next decade. The career growth opportunities are massive.
But, most importantly, as veterans, we understand the importance of “home,” and our team works each and every day to provide that feeling through exemplary service. When you become a team member at Patriot Family Homes, you will become a part of our work family, where we strive to ensure you always feel
supported and valued for the sacrifices you make as we continue to grow in excellence.
POSITION SUMMARY:
We're seeking a detail-oriented, analytical thinker who loves research and enjoys independent work. As a Portfolio and Multifamily Underwriting Analyst, you will play a crucial role in our mission to provide high-quality homes to families across our current and future markets. Specifically, you will analyze prospective real estate portfolios for acquisition that contain single-family homes and multifamily buildings of less than 20 units.
Among the areas that you will be responsible for are:
- Diligently analyzing prospective homes and multifamily buildings for acquisition, both from public listings and private sources, to determine whether they meet our defined rental or investment criteria through number-crunching, critical thinking and understanding the resulting thesis/story told by the numbers.
- Working autonomously to efficiently assess potential homes and multifamily buildings while also collaborating with our underwriting team to ensure a thorough and accurate evaluation process.
- Reporting directly to the Director of Underwriting, contributing to the overall success and growth of Patriot Family Homes.
It will be crucial for you to be thoughtful and precise as well as thrive in an independent work environment. Your keen eye for detail and ability to navigate complex data will be instrumental in helping us expand our portfolio and deliver exceptional value to our clients.
Considering applying?
Discover the path to success through our clear expectations and robust support system, ensuring you achieve satisfaction and thrive in this role.
Your Pathway to Success
- First 30 Days: You will be expected to achieve 60-80%+ competency and confidence working with the tools and processes through 1-on-1 training and mentorship with the National Director of Underwriting. Then you will begin underwriting independently, reviewing and presenting your underwriting to the Director.
- 30-60 Days: You will begin to underwrite portfolios and multifamily properties and continue reviewing the underwriting with our Director 1-2x per week. At this point, you should feel 80% confident in your independent underwriting.
- 60-90 Days: You should feel 90%+ confident about your independent underwriting at this point and be able to think critically about trends and opportunities for improving tools and processes and gain a clearer understanding of your niche and our specific market.
- 90-180+ Days: Full competency and confidence at this point will be expected in independent underwriting. Previously underwritten rented and purchased homes will be subject to retrospective variance analysis. As part of your proactive recommendations, tool and process improvements, you will further streamline the team's underwriting process. You will also be supported through continued personal/professional development with a focus on more deeply understanding financial statements, financial modeling, and real estate investment by the National Director.
If you are ready to apply your analytical prowess and make a meaningful impact in the world of real estate, we invite you to join the Patriot Family Homes team.
RESPONSIBILITIES:
- Learn, understand, and screen markets for actively listed, relevant acquisition opportunities, including portfolios of single-family homes and multifamily buildings of less than 20 units.
- Become familiar with commercial real estate websites (Loopnet, Crexi, SVN, etc.) and platforms with listed for-sale investment opportunities.
- Review relevant opportunities as per the buy box, request, gather, and pull all data necessary to underwrite effectively, and summarize and submit thoughts, assumptions, and underwriting to the National Director.
- Learn, understand, and master the underwriting team’s financial model for analyzing a real estate investment’s pro forma performance and returns.
- Present portfolio and market-level underwriting to the National Director of Underwriting for review, stress-testing, and explaining thoughts behind key assumptions.
- Put together comparable asset performance spreadsheets of our current portfolio to maintain a continuous understanding of our performance at both the market and property levels.
- Perform retrospective variance analyses of acquired units to determine the accuracy of prior underwriting.
- Underwrite and certify our internal rental arbitrage opportunities and revenue projections as needed
QUALIFICATIONS:
- 4-Year College Degree
- Understanding of financial analysis, financial modelling, and investments, as well as experience in real estate finance and/or general finance
- Experience in data and technology integration, process improvement, and leveraging technology to automate repetitive tasks/analyses
- Strong interest in personal/professional development, financial analysis, and investments
- Self-discipline and the ability to manage your own workload, schedule, and deadlines
- Independent thinker whose thinking is not swayed by the need to please people with the ability to challenge assumptions, processes, and tools.
- Ability to work independently 40-70% of the time
- Communicate well via phone, text, Slack, and Asana, collaborate with other teams, and hold strong beliefs in your work.
COMPENSATION & BENEFITS:
Annual Salary: $60,000 - $65,000 based on achievement and experience
Benefits:
- Paid time off, such as PTO, sick days, and vacation days
- Health insurance
- Life insurance
- Dental insurance
- Vision insurance
- Retirement benefits or accounts
- Healthcare spending or reimbursement accounts, such as HSAs, FSAs, and HRAs
Scheduling: As a remote worker, your schedule will be flexible, but it will be essential for you to be able to prioritize tasks