Acquisition Manager (SD)
Company: True Legacy Homes
Location: San Diego
Posted on: April 18, 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/ExemptLocation: 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/Commissions401(k)401(k) employer match of up to 2%Paid
holidays Paid time offCell phone reimbursementMileage
reimbursementGrowing companyModern management styleDisclaimer: 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.PIddfdddf5b49b-25660-34208157
Keywords: True Legacy Homes, Oceanside , Acquisition Manager (SD), Executive , San Diego, California
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