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Acquisition Manager (SD)

Company: True Legacy Homes
Location: San Diego
Posted on: May 13, 2024

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/Exempt
Location: 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/Commissions
          • 401(k)
          • 401(k) employer match of up to 2%
          • Paid holidays
          • Paid time off
          • Cell phone reimbursement
          • Mileage reimbursement
          • Growing company
          • Modern management style

            Disclaimer:
            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.PI8e514cd43228-31181-34208157

Keywords: True Legacy Homes, San Diego , Acquisition Manager (SD), Executive , San Diego, California

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