Job Description

SUMMARY OF POSITION: The Asset Manager is an entrepreneurial individual, responsible for all aspects of a growth oriented multifamily portfolio starting in the Phoenix Arizona. This individual will provide hands-on asset management to successfully develop, implement, and manage all aspects, including the finances, of the portfolio. This individual will provide value-added strategies to maximize the value of existing properties and for growth of the multifamily portfolio. Storm intends to significantly expand its multifamily portfolio over the next few years and will need a highly organized, enthusiastic candidate with strong operational skills, financial acumen, and effective interpersonal skills to execute value-added renovation, capital project strategies, and to motivate property management to meet stringent deadlines and return metrics. This role is responsible for achieving objectives while exhibiting Storm Industries Core Values.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Regular Functions include:

Develop and present annual budgets and business plans for each asset, illustrating entrepreneurial strategies for adding value and enhancing performance.

Review and analyze property financials, develop and track KPI’s, and stay informed of market dynamics and key factors affecting current and future asset performance.

Analyze, monitor, and report on the portfolio's performance against budget and underwriting proforma. This includes benchmarking property performance against similar properties, managing and monitoring cash flow, making strategic recommendations on asset strategy and capitalization, and preparing monthly and quarterly investor portfolio/performance reports.

Perform regular site visits and coordinate with property management and construction teams to establish best practices for capital preservation and ongoing maintenance procedures.

Drive performance of property managers to meet or exceed budget and business plan metrics. Provide recommendations for improvement or change.

Ensure renovated units and condition of the overall property meets and continues to meet Storm’s standards and best practices.

Review and approve contracts, operating statements, and other related operational information.

Keep abreast of market dynamics and key factors in affecting current and future asset performance and modify operational strategy accordingly.

May work from home/office, work flexible hours and travel, as needed.

Other duties as required.

Periodic Functions include:

Ability to travel up 50% of the time to start.

Supervisory Responsibilities:

This individual does not supervise anyone however, the successful individual will show leadership in this role and will be successful motivating others to achieve goals.

MINIMUM QUALIFICATIONS

Education and/or Experience:

Bachelor’s Degree or higher, preferably in finance, real estate, business, economics, or related field.
Minimum of 5 years asset management experience with multifamily investments.
Fundamental real estate finance and valuation knowledge.
Strong mathematical skills required to perform financial analysis (IRR, ROE, Profitability, etc.).
Existing large network of real estate professional and landowner contacts, preferred.

Required Behaviors and Competencies include:

Strong financial acumen with demonstrated ability to understand portfolio investment and financing goals.
Demonstrated ability to grow NOI through creative value enhancement strategies and proven execution.
Comprehensive understanding of multifamily market for all asset classes in the designated region with track record of successful execution of marketing programs and value-add strategies.
Experience managing significant capital projects, including common area and unit renovations.
Experience working with design and construction professionals to define scope of work, achieve timely project execution, control costs, and track ROI.
Leadership experience with ability to set priorities and to achieve goals personally and through others.
Prior success with implementing and overseeing significant value-add capital projects to achieve significant ROI preferably on Class B and C multifamily assets.
Acute attention to detail and strong analytical skills with the ability to gather and analyze data to make effective recommendations.
Strong verbal and written communication skills with the ability to provide clear and concise direction, verbally and in writing
Dependable, organized, and a strong sense of ethics.
Strong time management skills.
Track record demonstrating strong customer focus.
Effective at presenting information and responding to questions from groups .
Ability to build collaborative relationships.
Ability to demonstrate Storm Core Values.

Professional/Technical Training and Skills include:

Experience with all aspects of multifamily portfolio asset management, including revenue enhancement, expense containment, renovation projects, marketing programs, reputation management, etc.
Comprehensive knowledge of industry standard computer applications, spreadsheets, and modeling concepts.
Advanced Microsoft Excel (financial modeling), PowerPoint, Word, Project.
Experience with RealPage, RedIQ, Yardi and revenue management systems an asset.
Financial analysis and acquisition experience to support and enhance Storm’s acquisition, due diligence, and disposition efforts, an asset.

Licenses and Certifications include: