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MIG Real Estate

Director of Multifamily Portfolio Operations

Salary
Competitive
Employment
Full Time
Real Estate Field
  • Asset / Portfolio Management
Location
Newport Beach
 CA
Postal Code
92660
Country
United States

This job is no longer active.

Description


MIG Real Estate LLC (“MIG”) is looking for a dynamic and seasoned real estate professional with operating company experience to lead its multifamily asset management team in the Western US and Texas.  MIG currently owns 27 multifamily assets in five states comprising 6,800 multifamily units with plans to continue expansion in the Western US.  Our growth and investment goals and objectives make it necessary to install a strong team leader to manage and retain a talented high-performance asset management group in Texas, Arizona, Colorado, Washington, and California and to attract and retain further talent as required.  This position will have primary responsibility for the operation of the portfolio and will provide the leadership, management and vision necessary to ensure that the company has the proper operational controls, administrative and reporting procedures and people in place to ensure financial success and operating efficiency.

The successful candidate should have substantial experience working with real estate or property management firms managing multifamily portfolio performance, including financial reporting, the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve and enhance value and report accurate financial results.  The candidate should be disciplined with experience in creating and streamlining process to provide transparent real-time market and financial performance data to investors.  This position will report directly to the COO of the company.

 

POSITION REQUIREMENTS:

Drive the portfolio to achieve and exceed revenue, profitability, cash flow and business goals and objectives.

Collaborate with COO to develop and implement plans for the operational infrastructure of systems, processes and people, designed to accommodate the rapid financial objectives of the company.

Lead and supervise annual strategic business plan and budget process.

Evaluate results of operations regularly and systematically while identifying strategies to improve cash flow.

Ensure that the responsibilities, authorities and accountability of the asset managers, property managers and construction managers are defined and understood.

Design and implement on site property management strategies and procedures to implement across the portfolio to enhance performance and maximize value and cash flows for each asset.

Determine best execution for refinancing strategies to unlock equity for additional investment.

Focus on management and use of working capital and refinancing proceeds to achieve additional income with recommended spend tied to measurable ROI. 

 

 

Sets comprehensive operational goals with asset management team to achieve maximum portfolio performance in every region.

  • Manage and monitor asset cash flow and operational capital needs
  • Review and reset revenue targets as needed
  • Determine consolidated expense saving strategies and implement them across portfolio
  • Assess repositioning assets through renovation, rebranding and marketing programs
  • Review financial reporting and variance analysis and coordinate action plans with asset management and on site teams as needed.

Develop and implement procedures and controls to promote communication and adequate information flow within the company.

Establish a collaborative team environment using strong communication skills and problem solving capabilities.

Evaluate individual performance by analyzing and interpreting data and metrics.

Implement proper financial reporting to determine achievement of monthly and annual financial targets.

  • Create reporting regimen that provides maximum transparency, reduces redundancy and provides real time information to COO and investors to make informed decisions.

Work in partnership with acquisition team on underwriting and due diligence efforts for new multifamily investment opportunities.

Successfully partner with construction professionals to determine appropriate renovation strategies and timing (scope, costs, schedule and premiums) and facilitate construction management to completion.

QUALIFICATIONS:

  • Minimum 10+ years’ progressive experience with real estate asset management, investment firm or property management company in an executive role.
  • Experience mentoring and motivating group of sophisticated asset managers across multi-state portfolio.
  • Strong entrepreneurial spirit with the ability to manage multiple priorities.
  • Enjoy working in a fast-paced, intellectually rigorous, and fluid environment.
  • Bachelor’s degree preferably in Finance, Real Estate, Economics or Accounting.  MBA preferred.
  • Strong financial background required, including a thorough understanding of budgeting, accounting and financial reporting and analysis.
  • Proven track record successfully charting course for operational improvements to capture additional value.
  • Willing to travel to properties on regular basis.
  • Proficient with Microsoft Word, Excel and Outlook and property management software (e.g. Yardi)

Job Functions


  • Operations
  • Portfolio Management
 

Job Sector


  • Residential
 

Experience


10+ to 15 years


This job is no longer active.

 
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