Acquisitions & Underwriting Associate

About the Role We are seeking an Acquisitions & Underwriting Associate to support our deal flow for 1-4 unit and 8-20 unit real estate deals. This is a hands-on, detail-oriented role covering the entire lifecycle from sourcing and underwriting to lender packaging and post-closing support.

Responsibilities

1–4 Unit Deals

Sourcing:
- Build micro-lists by zip code, targeting absentee and inherited owners, probate, code violations, evictions, utility shutoffs, and tax delinquencies.
- Conduct direct-to-owner campaigns via calls, texts, mail, and door-knocking, and track hit rates and appointments.
- Maintain relationships with wholesalers, agents, and auctions, and regularly follow up on expired/withdrawn listings.
Underwriting:
- Perform quick screens in 15 minutes and full underwriting within 24 hours.
- Pull tight LTARV comps, enforce a ≤70% LTARV buy box, and assume 5% seller credits.
- Verify scope, turn timeline, and rehab cost benchmarks, documenting all risk items.
- Conduct tax, insurance, flood, and zoning checks, and prepare offer packages with price and term levers.
Lender Outreach / Packaging:
- Maintain and update a list of lenders for flips/bridge lines, noting their appetite, fees, draws, and seasoning requirements.
- Assemble all intake documents, including a summary memo, comps, budget/scope, timeline, and entity documents.
- Manage the data room and coordinate appraisal/BPO, and set up draws with the lender (SOV, waivers, photos).

8–20 Unit Deals

Sourcing:
- Build owner lists for target submarkets and execute weekly call, text, email, and mail cadences.
- Conduct direct-to-owner outreach and build relationships with brokers/agents.
- Pull public-record signals such as violations, permits, and liens.
- Perform field tours and quick site checks to confirm unit count, condition, and market-rate rents.
Underwriting:
- Normalize T-12s and rent rolls, and verify utility bills and vendor contracts.
- Conduct neighborhood-level rent comps and update expense assumptions.
- Value properties via NOI and local cap rates, and stress DSCR at refi with a 70% LTV target.
- Conduct DD coordination, including zoning/flood checks, code/violation searches, unit photo logs, takeoffs, and bid tabs.
Lender Outreach / Packaging:
- Maintain a database of multifamily lenders, noting their LTC/LTV, DSCR, prepay, rehab-escrow rules, and seasoning requirements.
- Prepare credit memos, rent rolls, T-12s, comps packages, and rehab budgets.
- Drive third-party reports, insurance binders, closing checklists, and the draw process after a deal closes.

Tools (daily stack)

Deal Flow & Research: Crexi; county property appraiser, tax collector, clerk, permitting/code-enforcement; GIS and flood maps.
Underwriting & Tracking: Excel/Sheets, standardized models, acquisition CRM/underwriting tracker.
Ops & Data: RentManager for rent/ops pulls when applicable; shared drive for data rooms.
Outreach: Phone, email, SMS, mail-merge, and skip-tracing utilities.
Docs & Signatures: E-sign, templated intake forms, offer letters, and SOPs.
Analytics: Custom AI scripts for comps/QA; internal dashboard for KPIs and weekly reporting.

Bookkeeping (part-time)

Perform weekly bank reconciliations by entity, tagging all transactions to GL and project codes.
Manage AP/AR, including entering invoices, scheduling payments, and posting rent/fees/deposits.
Track CapEx versus budget and provide variance notes.
Keep lender reporting packets current.
Ensure vendor compliance, including W-9 collection and 1099 prep, as well as insurance and license tracking.
Perform cash forecasting, reserve tracking, and draw accounting for active projects.

Acquisitions and Underwriting Associate (Remote) - 41813901568