Senior Acquisition Manager (CO)

About Us: 

True Legacy Homes is a dynamic residential real estate company specializing in home flipping. We are committed to transforming homes by enhancing their value & appeal through innovative design and expert craftsmanship. Our commitment to quality and efficiency drives our success, and we are seeking a motivated individual to join our team and help us continue our growth.

Position: Senior Acquisition Manager

Location: Denver, Colorado

Schedule: Monday through Friday, In-Office

Wage Scale: $80,000 to $100,000 Salaried/Exempt

Yearly Bonus/Commission Eligibility: $82,500 to $103,500

*Position is eligible for quarterly bonus and commissions tied to quarterly goals. Paid quarterly. 

Reports to: Director of Real Estate Investments

Job Summary:

True Legacy Homes is seeking a highly skilled and motivated Senior Acquisition Manager to join our dynamic team. The primary responsibility of this role is to identify and acquire residential properties for our company to renovate and resell as part of our expanding real estate portfolio. 

Duties and Responsibilities:

• Execute a comprehensive real estate acquisition strategy with a focus on achieving quarterly goals that are established 30 days before the start of each quarter in keeping with market changes, 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 break-down 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. 

Requirements:

• Colorado 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