Underwriting Senior Associate, Studio Build
Open the door to your dream job and join #TeamMainStreet. With more than 22,000 homes in 30 markets, Main Street Renewal is one of the largest providers of single-family rental homes across the country. We understand that our employees are the invaluable drivers of our success. That's why we hire the most talented, passionate individuals who enjoy contributing to a growing, winning team. Here, you'll be a part of a fast-growing company dedicated to providing a best in class leasing and customer service experience to our residents.
Amherst Homes seeks an Underwriting Associate, Studio Build to support the growth and prosperity of a nascent investment strategy. The Studio Build group focuses on the acquisition of vacant lots and the development of modular build-to-rent homes in select markets across the US. Via partnerships with various modular home builders throughout the country, Amherst manages the construction and on-site installation of pre-fabricated homes on acquired lots. The Underwriting Associate’s primary responsibility includes growing the Studio Build portfolio in an accretive manner by underwriting and acquiring vacant lots that exceed minimum return hurdles across Amherst target markets. The candidate will significantly impact a growing team at Amherst.
Underwrite and acquire vacant lots via multiple channels (MLS, off-market, bulk sellers, etc.)
Determine the optimal pre-fabricated home product expected to generate the highest risk-adjusted return (Going-in Cap Rate, IRR, etc.)
Scenario Analysis – Analyze various scenarios related to acquisitions and asset management by creating excel models from scratch
Coordinate with Amherst’s construction team to determine that expected development costs (purchase price from manufacturer, on-site pad development, freight, etc.) remain accurate due to quickly changing market dynamics. Integrate all pricing changes into investment models.
Facilitate entry into new markets by researching/synthesizing zoning ordinances and incorporating this information into an investment model
Synthesize market data and outcomes with qualitative insights from underwriting to provide guidance to senior management on both tactical ideas to improve the lot underwriting and construction processes as well as the broader Studio Build strategy
Provide guidance and oversight to a growing team of underwriting analysts
Work with Amherst’s Sales & Trading team to improve the quantity and quality of lot sourcing opportunities
Work with Amherst’s technology department to optimize the bespoke software used by the Studio Build team
Desired Skills & Experience:
Bachelor’s degree required
5+ years of relevant experience
Residential (multifamily or single family rental) experience strongly preferred
Knowledge of zoning and development process a plus
Strong verbal and written skills to communicate effectively with internal and external professionals
Candidate should be extremely detail-oriented and organized with a proven ability to work well in a high-intensity environment to complete tasks quickly and effectively
Capable of handling multiple tasks at once
Strong skills in Microsoft Excel and PowerPoint
Ability to model deals/scenarios from scratch in excel
Our full-time employee benefits include:
- A competitive compensation package, annual bonus, 401k match
- Flexible PTO including 7 paid holidays, 1 floating holiday, and 1 volunteer day
- Employer-paid benefits (medical, dental, vision, health savings account)
- Professional career development and reimbursement
- Up to 16 weeks paid maternity leave; up to 4 weeks of paid parental leave
- Backup childcare offered through Bright Horizons
- Relaxed casual environment with virtual office events
Main Street Renewal is proud to be an Equal Opportunity Employer and committed to creating an inclusive environment for all employees. We do not discriminate on the basis of race, color, religion, national origin, gender, pregnancy, sexual orientation, gender identity, age, physical or mental disability, genetic information or veteran status, and encourage all applicants to apply.