Financial Analyst, Acquisitions (Dallas)

We review all applicants within 48 hours. Given the high interest in this position, we respond only to those candidates which seem to be the best fit for the position. We regret the impersonal nature of most of these responses.

Company Overview

Homestead Communities (the Company) addresses the affordable housing crisis in the United States by providing safe, clean and supportive communities where working families and retirees can own or rent affordable, high-quality, single-family manufactured homes.Founded in 2023, the Company was one of the ten largest buyers of manufactured housing communities (MHC) over the past two years.Homestead Communities is committed to responsible stewardship for its residents, providing engaging careers for its team members, and delivering attractive risk-adjusted returns to its investor.

Homestead Communities is owned by its management team and one of the worlds largest real estate investors, Invesco (NYSE : IVZ). The Company combines proven, growth-orientated entrepreneurial leadership with institutional discipline and financial capability. This position offers the opportunity to contribute meaningfully to a new enterprise with proven partners and the resources and experience to build a significant operating business.

Location

Dallas, Texas. This position is in-person and will office with Invesco.

Position Overview

The Financial Analyst, Acquisitions will use the Companys financial model to project cash flows for potential acquisitions.Projections include initial capital, financing, and monthly operating income and expenses.Projections depend on analysis of MHCs historic financial statements, current rent roll, and primary market research, all lead by the Financial Analyst, Acquisitions.Further financial analysis, which may require additional market or property diligence, is typically needed to respond to property-specific questions and unique investment characteristics.

The position is full-time. The daily time commitment will vary with the Companys deal flow.There will be times when there are multiple transactions at the same time and times when there are short deadlines.There will be times between transactions that the Financial Analyst, Acquisitions will assist in broader work related to acquisitions.

Responsibilities

Prepare cash flow projections for proposed acquisitions.

oDetailed, monthly projections for ten-year hold period.Dozens of line-items used to specify assumptions and clearly calculate resulting values.

oThe Vice President, Acquisitions provides initial underwriting assumptions, sets deadlines, and provides quality assurance review.

oReview and understand historic financial statements from a MHC seller and / or broker.

oPrepare return sensitivities to varying operating assumptions.

Research the competitive housing market of potential MHC acquisitions.

oIdentify comparable MHCs and call MHCs to determine their occupancy, rental rates, amenities, and housing stock.

oReview rental rates for competitive apartments and single-family homes.Review sales values and absorption of for-sale single-family homes in the submarket.

Prepare Investment Committee memoranda summarizing the potential investment.

Supervise updates to various proprietary databases used in the acquisitions workflow.

oMaster MHC property and owner lists.

oCRM lists and programs.

oMHC sales comps through database searches and contact with MHC brokers.

Track trends in AI and SaaS tools that could further automate the Companys acquisition process.

Reporting

Reports to and will be supported by our Vice President, Acquisitions.

Consults with senior team members to refine operating assumptions (operating and capital expenses).

Advancement

The candidate will get broad exposure to the acquisition, management and ownership of MHCs.

Further opportunities may include broader responsibilities sourcing and supporting acquisitions.

Further opportunities to apply financial and analytical and programming, (if applicable), skills to other aspects of the Companys work.

Qualifications

Expert in Microsoft Excel and comfortable with basic math functions. (Calculus is useless.)Thorough understanding of income statements and balance sheets.

One or two years of work experience at minimum, in residential or commercial real estate brokerage, lending, investment or consulting; private equity; investment banking; or accounting.More familiarity with residential real estate is preferred.

Compensation

Annual salary from $80,000 to $90,000.

Annual cash bonus target of 10% to 15% of total annual salary, depending on the achievement of mutually-agreed goals.

Paid time off at the candidates discretion.

Medical, dental, vision, long-term disability and life insurance.

401(k) with matching up to 4% of employee deferral.

Miscellaneous

Travel two or three times annually for Company events and industry conferences.Additional travel if work responsibilities expand to include on-site diligence.