Financial Analyst

BACKGROUND:

The NCRC Housing Rehab Fund (the “Fund”) is a private equity fund focused on identifying and acquiring single-family houses in various parts of the country that are rehabbed into quality, affordable homes and sold to low- and moderate-income (LMI) families. The Fund has been operating for three years and is aggressively expanding its investment program geographically to reach more affordable home buyers.

The Fund is an affiliate of NCRC’s Development Corporation and is tasked to carry out NCRC’s signature community development initiative: GROWTH (Generating Real Opportunities for Work Through Housing). 

POSITION SUMMARY:

GROWTH has an exciting opportunity for a full-time Real Estate Finance Analyst/Associate to join our team.  The Real Estate Finance Analyst/Associate will focus on underwriting potential home acquisitions for rehab and ground-up construction projects that will include performing a market assessment, coordinating with the construction department on budgets, and performing the financial analysis.  This position will work closely with the acquisition, business development, asset management, construction and accounting teams as well as Senior Management.

In order to sustain our rapid growth, we are in need of candidates who bring innovative thinking and thrive in a fast-paced working environment. Additionally, qualified candidates will need to be organized, goal-oriented and ambitious. We seek the most talented professionals to help foster a culture of creativity and growth. 

GROWTH is an internally managed real estate company, focused on acquiring, renovating, building and leasing single-family homes.

The position will report to the Director of Acquisitions. 

ESSENTIAL FUNCTIONS:

Responsibilities will include, but are not limited to:

• Performing final underwriting on multiple single-family acquisitions and ground-up development projects at any given time.
• Coordinating with the construction team in developing a final rehab/construction budget in a timely fashion.
• Conducting property and market research and due diligence for given areas including, examining sale comparables, income levels, demographics, sale trends, neighborhood factors, and retail trends.
• Understanding the closing and rehab process and being able to work with various individuals within those groups and provide feedback.
• Ensuring compliance with all underwriting standards, policies and procedures. Provides recommendations for process improvement and participates in special initiatives.
• Serving as a point of escalation to staff in continuing acquisition issues.
• Coordinating and assisting the closing team with home acquisitions.
• Assist with asset management responsibilities to include analyzing operating performance compared to budget, proforma and the competitive set, evaluating market conditions to include leasing and sales activity and assessing performance of capital expenditure plan.
• Quarterly portfolio reporting to include variance analysis, market overview and recapitalization/refinance/sell recommendations.
• Analytical support to senior members of the Acquisitions, Business Development and Asset Management divisions.

COMPETENCIES: The knowledge, skills and behavioral attributes necessary for acceptable job performance.

Skills

• Knowledge of the acquisition-rehab and ground-up construction process for single family and/or multifamily properties.
• Being able to underwrite and model acquisitions for rehab and development projects for ground-up construction in excel, analyze property valuations, and review third party reports.
• Write, prepare, and review due diligence packages.
• Maintain underwriting integrity for underwriting applications.
• Perform and review market surveys and standard due diligence.
• Advanced proficiency with Excel spreadsheets
• Strong quantitative skills and core financial competency and the ability to create financial models
• Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy.
• Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule.

Desired Attributes

• Strong grasp of financial concepts critical to Real Estate (IRR, NOI, Cap Rate, DCF, ROI, etc.)
• Experience in residential real estate markets including housing valuation
• Knowledge and understanding of the single family closing process
• Detail-oriented, and self-motivated with track record of meeting tight deadlines in time sensitive situations while maintaining a professional demeanor
• Ability to rapidly analyze qualitative and quantitative information and accurately articulate conclusions and recommendations
• Entrepreneurial spirit to help expand business
• Strong work ethic
• Proactive team player, able to work effectively under sometimes stressful conditions
• Ability to travel a minimum of 10-20%

QUALIFICATIONS:

The ideal candidate will possess the following:

• College degree in Finance, Business or related discipline.
• Minimum of 3 years of real estate related experience.
• Appraisal and environmental review experience required.
• Real estate license preferred but not required for hire.
• Advanced proficiency with database tracking systems, as well as Outlook, Word, Excel, and MRIS.
• Meticulous attention-to-detail and organizational skills.
• Ability to communicate effectively verbally and in writing.
• Excellent analytical reasoning to resolve issues.
• Desire to succeed in a team-structured, fast-paced environment.