Assistant Asset Manager

$70,000 - $85,000/Yr

Tripalink Corp - Los Angeles, CA

Full-time - Mid Level

Los Angeles, CA

Real Estate

About the position

Tripalink is a leading co-living and apartment rental platform that aims to redefine urban living. With a strong presence in major cities across the United States, we offer modern apartments designed to create a sense of community among residents. As a fast-growing startup, we are committed to building a community that supports personal growth, celebrates diversity, and encourages excellence. Our team is dedicated to providing exceptional living experiences through cutting-edge technology and unparalleled customer service. If you're passionate about making a difference and eager to be part of a team that values creativity and teamwork, we invite you to explore our career opportunities and join us on our journey. As an Assistant Asset Manager, you will play a crucial role in managing an investment portfolio of over 85 investment projects, with a total valuation exceeding $700 million across different states. Your responsibilities will include conducting financial analysis of development assets, creating detailed pro-forma and financial models to assess property performance relative to business plan targets, and analyzing market data to identify trends. You will prepare narrative memos and detailed reports that provide insights into market trends at the property level. In this position, you will also review and approve maintenance repairs from third-party property managers or vendors, manage the ownership/property management relationship, and ensure effective communication of objectives and initiatives. You will be responsible for reviewing and finalizing annual budgets proposed by Tripalink, monitoring financial performance, and collaborating with outside consultants. Additionally, you will oversee cash management processes, assist in the disposition of properties, and stay updated on industry changes through conferences and professional publications.

Responsibilities

• Assist in managing investment portfolio of over 85 investment projects, total valuation above $700M across different states.
• Conduct financial analysis of development assets, including the creation of detailed pro-forma and financial models, to assess property performance relative to business plan targets.
• Analyze market data to identify market trends and prepare narrative memos and detailed reports which provide insight into market trends at the property level.
• Review and approve maintenance repairs from third party property managers or vendors.
• Manage the ownership/property management relationship by providing regular and ongoing communication, clear direction of objectives and initiatives, timely and comprehensive reporting, and effective resolution of issues, concerns, questions, and requests.
• Review and finalize annual budgets proposed by Tripalink, ensuring each meets or exceeds business plan underwriting, is in-line with market and industry standards, and NOI is maximized through effective revenue growth strategy and expense saving measures, with controlled and deliberate capital spend.
• Monitor the financial budgeted-to-actual variances and operational performance of each asset on a monthly basis, and identify and investigate deficiencies or opportunities, and guide the development of appropriate action plans that correct deficiencies or maximize opportunities.
• Collaborate with outside consultants (e.g. tax advisors, insurance brokers, interior designers), as well as communicate quarterly and annual financial results to investors and lenders, as needed.
• Oversee the cash management process, including tracking capital expenditures spend, managing operating and capital reserve balances and disbursement requests to lenders, and handling cash surplus distributions to investors.
• Assist in the disposition process for any properties that are placed on the market for sale, including broker selection, marketing material review and approval, buyer inquiry response, due diligence management, proration and closing statement generation, and post-closing true-up settlement.
• Keep abreast of current changes in technology, processes, and standards within the industry by attending industry conferences and/or subscribing to professional publications, and apply knowledge and practices to areas of responsibility.

Requirements

• Bachelor's degree in finance, business administration, real estate, or related field.
• 3+ years of real estate or financial related experience in multifamily.
• Experienced with Excel, Appfolio, Juniper Square, and CoStar.
• Be efficient, passionate, proactive, detail-oriented, and quick learning in a fast development pace.
• Excellent presentation and communication skills.
• Strong financial analysis and Real Estate experience is highly preferred.

Nice-to-haves

• Experience with financial modeling and analysis tools.
• Familiarity with property management software.
• Knowledge of real estate market trends and regulations.

Benefits

• Excellent Working Environment: Energetic, Ambitious, Passionate
• Great Team Experience
• Regular Team Building Activities
• Free Community Event Entrance
• Leadership Cultivation & Individual Development
• Networking & Resources from External Partners
• Opportunities of Rotation Among Departments & Locations