Rental property investing made stock market simple
Director of Acquisitions
Roofstock is the leading marketplace for investing in single-family rental homes that cash flow day one. With over $2B in transactions, our mission is to make real estate investing radically accessible, cost effective and simple. We want to use technology to transform the way real estate is bought and sold and make real estate investing as simple as investing in stocks. Simply put, we are passionate about helping our customers build wealth through real estate.
Roofstock has been recognized as a great workplace by Glassdoor and Great Place to Work® and was recently named to the Forbes Fintech 50 and the Red Herring 100 lists of most innovative companies. Roofstock has raised over $83M to date, is based in Oakland, CA and Dallas,TX with approximately 200 people and is growing rapidly. Check out our reviews and see why our employees love working here!
The Director of Acquisitions will be responsible for all aspects of Roofstock’s institutional acquiring and underwriting program, from researching markets, identifying and underwriting investment opportunities to executing winning offer strategies. This individual must be a results-driven leader who effectively achieves objectives for Roofstock and our clients, with an eye toward continually improving the effectiveness and scalability of the work in order to accommodate larger numbers of clients and greater pools of deployable capital. The successful candidate will know how to hire, develop and retain outstanding acquisitions team members, and effectively structure their work, applying those people to the highest impact tasks while designing processes and technology where those tools can create maximum leverage. This person must also be adept at all financial and capital markets aspects of acquisitions transactions and be capable of communicating in a highly effective manner with large clients and third-party institutions involved in the acquisitions process. The successful candidate will be a highly credible and effective member of new business development teams pitching to prospective institutional clients.
What You Will Do:
- Oversee team to ensure institutional acquisitions group meets internal and client-level objectives.
- Collaborate with Roofstock’s sell-side portfolio sourcing team and separately source proprietary SFR portfolios that meet clients’ buying criteria.
- Engage with strong network of local contacts- must be willing to get out in the field to find deals as well as have strong underwriting and diligence experience.
- Oversee the process of identifying and validating investment opportunities that meet clients’ acquisitions strategy.
- Oversee all underwriting and due diligence in order to manage risk properly, ensure UW accuracy and integrity and deliver expected returns.
- Prepare investment proposal details for client investment committees on larger portfolio transactions.
- Oversee team to produce effective offer and negotiation strategies that convert at a high rate.
- Gather feedback from Asset Management and Property Management teams on underwriting accuracy, identify problems and opportunities, and lead continuous improvement efforts.
- Partner effectively with Underwriting Optimization, Product, Engineering, Data Science teams to improve tools and processes for acquiring at scale with highly accurate underwriting.
- Select, train, mentor and develop a strong acquisitions team.
- Provide leadership to team by setting expectations, delegating work, monitoring progress, and providing performance feedback and training.
What You Bring With You:
- Bachelor degree in Business, Finance and/or Real Estate required; Master degree preferred.
- Minimum 10-12 years of experience in real estate investment sourcing, underwriting and acquisitions; at least 3-5 years of experience specifically in Single Family Rentals.
- At least 3-5 years experience in a leadership/management role.
- Demonstrated track record of sourcing market and off-market transactions in target markets.
- Strong understanding of SFR markets across the United States.
- Strong existing network including target market owners and brokers.
- Strong knowledge of real estate investment finance and real estate principles; experience working with institutional real estate investors preferred.
- Outstanding analytical skills and advanced Microsoft applications experience (Excel, Argus, Word, PowerPoint).
- Excellent data-driven problem-solving skills and results-oriented attitude.
- Ability to leverage process and technology to enable efficiency and effectiveness across a team and line of business; exposure to Product, Engineering and Data Science teams preferred.
- Strong verbal and written communication skills.
What We Offer:
- Competitive compensation.
- Medical, Vision and Dental for you (95%) and your dependents (65%).
- Pre-tax commuter benefits.
- Unlimited vacation and sick days.
- Equity incentives to give you a stake in the Company’s future.
- An upbeat and collaborative work culture.
- A fully stocked kitchen with snacks and meals.
- Company-sponsored outings.
Medical, vision & dental
Flexible vacation policy
Discount to 24 hour fitness
Roofstock at a glance
Roofstock focuses on Real Estate, Rental Housing, Property Management, Property, and Fin Tech. Their company has offices in Dallas and Oakland. They have a mid-size team that's between 51-200 employees. To date, Roofstock has raised $131.5M of funding; their latest round was closed on January 2020.