Real Estate Underwriter – Financial Modeling

This is a fully remote position, open to applicants in United States.

📋 Description

• Develop and sustain pro forma models for prospective acquisitions spanning various asset types and transaction structures.

• Evaluate deal economics, including cash-on-cash returns, IRR, equity multiples, NAV impact, yield on cost, debt service coverage, and sensitivity to key assumptions.

• Conduct stress tests on assumptions regarding rent growth, operating expenses, cap rates, exit timing, leverage, interest rates, hold periods, and capital requirements.

• Collaborate with acquisitions, asset management, finance, and leadership to convert deal terms, business plans, and market assumptions into precise model inputs.

• Assess potential acquisitions across asset types such as multifamily, build-to-rent, mixed-use, value-add, and other residential real estate opportunities.

• Assist in capital structuring analysis, encompassing debt assumptions, equity needs, refinancing scenarios, and investor return profiles.

• Update and maintain models as deals progress through the pipeline, from initial evaluation to investment committee review and closing.

• Analyze operating statements, rent rolls, market comparisons, loan terms, third-party reports, and other due diligence materials to support underwriting assumptions.

• Identify critical risks, sensitivities, and value drivers in each transaction and communicate them clearly to the team.

• Compile model outputs into concise investment memos, decision-support materials, and presentations suitable for committee review.

• Aid in ongoing portfolio performance analysis, including actual-to-budget comparisons, valuation updates, NAV-related analysis, and scenario planning.

• Contribute to enhancing our underwriting process, model templates, internal reporting, and investment committee documentation as the team expands.

⛳️ Requirements

• 2–5 years of experience in real estate finance, acquisitions, investment banking, private equity, asset management, or a similar analytical position.

• Proficient in real estate financial modeling, including acquisition models, operational projections, debt schedules, return calculations, and sensitivity analysis.

• Advanced Excel proficiency with the capability to build, audit, and enhance complex models.

• Comprehensive understanding of commercial real estate fundamentals, including valuation methods, cap rates, NOI, debt structures, refinancing assumptions, waterfall mechanics, and investor return metrics.

• Prior experience analyzing multifamily, build-to-rent, mixed-use, value-add, or residential real estate investments is highly preferred.

• Familiarity with deal materials such as rent rolls, operating statements, market comparisons, loan terms, appraisals, inspections, and due diligence reports.

• Strong attention to detail and the capability to work efficiently within deal-cycle timelines.

• Excellent written and verbal communication skills, with the ability to articulate model outputs and investment considerations in straightforward language.

• Curiosity, good judgment, and the capacity to ask insightful questions when assumptions, inputs, or deal terms are ambiguous.

• Bachelor’s degree in Finance, Real Estate, Accounting, Economics, Business, or a related field is preferred.

🏝️ Benefits

• Equal employment opportunities for all individuals, irrespective of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or veteran status.

• Diversity fosters creativity and innovation, enhancing the quality of our work and the strength of our team.