Acquisition Manager (SD)
Company: True Legacy Homes
Location: San Diego
Posted on: May 4, 2024
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Job Description:
True Legacy Homes purchases, renovates, and resells high-end
single-family homes in some of the best neighborhoods across
Southern California. We focus on flipping houses in amenity-rich
neighborhoods with exciting dining and entertainment options. Our
homes utilize open floor plans, simple color palettes, a modern
touch, and clean lines to create a timeless living experience. We
are well-financed and expanding from San Diego and Orange County to
southern Los Angeles.
Job Summary:
The Acquisition Manager's primary responsibility is to identify and
acquire residential properties for the company to renovate and
resell. The Acquisition Manager will be responsible for evaluating
potential properties, negotiating purchase prices, and overseeing
the acquisition process from start to finish. Acquisition Managers
are required to have a strong background in real estate, excellent
negotiation skills, and a proven track record.
Wage Scale: $66,560-$85,000 annually.
*Eligible for Bonus/Commissions.
Status: Full-Time/Salaried/Exempt
Location: San Diego, CA
Duties and Responsibilities:
Execute a comprehensive real estate acquisition strategy with a
focus on securing a minimum of 4.5 acquisitions per quarter. The
company reserves the right to adjust these minimums based on market
conditions, investment opportunities, and strategic priorities.
Identify potential acquisition opportunities for residential
properties in target markets suitable for flipping using MLS and
other internal and external data sources.
Enters potentially serious acquisition specifications into Hot
Sheets.
Underwrite acquisition opportunities using Excel.
Work with Project Management and Design teams to create scope of
work, budget and schedule for potential acquisitions.
Conduct thorough market analysis and data research to determine the
feasibility and profitability of potential acquisitions. Create
comp analysis to determine After Renovation Value (ARV), to
determine potential margin.
Stay informed about market trends, economic conditions, and
emerging opportunities to identify potential acquisition targets.
Conduct thorough market research and analysis to support decision
making.
Perform due diligence, this includes participating in inspections,
appraisals, title searches, and property record research to assess
the condition of the property and ensure a smooth acquisition
process.
Negotiate purchase prices and contract terms with property owners
and agents to ensure optimal terms for flipping.
Creates purchase contracts within defined parameters, using
ZipForms, and creates an email package for seller agents, which
includes a breakdown of the offer, corporate information, contract,
and proof of funds. Follows up with agents to make sure the offer
has been received.
Oversee the closing process and ensure a smooth transition to the
renovation and construction team.
Looks for wholesale buyers, when appropriate.
Create and maintain relationships with real estate agents, brokers,
and other industry professionals to source new acquisition
opportunities and obtain knowledge of comparable properties.
Attends real estate forums and agent meetups.
Develop and maintain an inventory of acquisition opportunities and
track performance metrics within Knack, for each project to
evaluate the success of the flipping process.
Participates in weekly department meetings and provides updates to
all stakeholders, as needed.
Other appropriate duties as assigned.
Required Education and Experience:
California real estate license in good standing.
Bachelor's degree in real estate, business, finance, or related
field.
Minimum of 1-3 years of experience in real estate acquisitions,
with a proven track record of successful acquisitions for house
flipping.
Strong financial analytic skills.
Strong understanding of the underwriting process (ProForma).
Strong negotiation skills and experience in contract
negotiation.
Knowledge of real estate laws, regulations, and best practices.
Excellent analytical and problem-solving skills.
Ability to work independently and manage multiple projects
simultaneously.
Exceptional communication and interpersonal skills, with the
ability to build and maintain relationships with key
stakeholders.
Must be able to communicate with and relate to diverse staff and
clients courteously and professionally.
Familiarity with renovation and construction processes.
Excellent attention to detail and organizational skills.
Must possess a high level of integrity and autonomy.
Excellent interpersonal and customer service skills.
Excellent verbal and written communication skills.
Highly proficient in Microsoft Office Suite with an emphasis on
Excel, and other work-related software.
Ability to function well in a high-paced and at times stressful
environment.
Must have a valid driver's license (Class C).
Preferred Education and Experience:
Master's Degree in real estate, business, finance, or related
field.
Proven and measurable experience in renovation and construction
processes, including commonly used terms and transactional
knowledge.
Physical Requirements:
The nature of the position requires prolonged periods of
sitting.
May on occasion require prolonged periods of walking or
standing.
Must be able to lift, push, and pull up to 15lbs.
Bending and Stooping: Bending the body downward and forward by
bending the spine at the waist.
Climbing: Ascending or descending ladders or stairs using feet and
legs and/or hands and arms. Body agility is emphasized.
Mobility Requirement: Ability to get from one location to
another.
Kneeling: Bending legs at knees to come to rest on one or both
knees.
Repetitive Motion: Substantial movements of the wrists, hands,
fingers, and/or upper body for sustained periods, including using
extremities to drag, push, pull or grasp.
Visual Requirements: Able to see and read computer screens, small
electronic devices, and maps.
Hearing Requirement: Able to detect specific noises for proper
equipment operation.
Ability to pass a pre-employment physical.
Benefits:
Employer sponsored medical benefits
Eligible for Bonus/Commissions
401(k)
401(k) employer match of up to 2%
Paid holidays
Paid time off
Cell phone reimbursement
Mileage reimbursement
Growing company
Modern management style
Disclaimer:
The above information in this description has been designed to
indicate the general nature and level of work performed by
employees within this classification. It is not designated to
contain or be interpreted as a comprehensive inventory of all
duties, responsibilities, and qualifications required of employees
assigned to this job.
True Legacy Homes is an equal opportunity employer. All qualified
applicants will receive consideration for employment without regard
to race, color, religion, sex, sexual orientation, gender identity,
national origin, disability, or veteran
status.PIa7181593d09e-25660-34208157
Keywords: True Legacy Homes, Poway , Acquisition Manager (SD), Executive , San Diego, California
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