DiversyFund
Portfolio Manager
DiversyFund, San Diego, California, United States, 92189
Position: Portfolio Performance Manager
DiversyFund is an online platform that democratizes alternative asset investing, providing opportunities for everyday investors to build wealth like the 1%.
This is a Tech firm scaling rapidly to prepare for an IPO or sale of the company. We use EOS to operate and the baseline body of knowledge we use are the publications: Traction + Rocket Fuel (Geno Wickman), and Art of War (Sun Tzu) combined with the 5-set book series Strategyzer [Business Model Generation, Value Proposition Design, Testing Business Ideas, High Impact Tools for Teams, and the Invincible Company] (Alex Osterwalder).
We are a Tech Startup poised to explode and thus looking for OUTSTANDING World Class Talent that understands mission first. We DO NOT miss deadlines or fail to execute. Execution and performance are EVERYTHING here. This is not a place for work-life balance or to perfect your golf game.
You MUST be a BOLD decisive problem solver who will make decisions rapidly. We desire Spartans here. Winners. Warriors. Those who love challenge, reward, and enjoy solving problems with other like-minded professionals who value winning over everything.
Overview:
The Portfolio Performance Manager is a driver in our business who is solution focused and results oriented. Your number one priority is to drive value across the entire portfolio of multifamily assets by increasing NOI and Cash Flow by increasing rents, revenue, occupancy and collections and decreasing asset expenses, obtaining more favorable debt, while also decreasing fund expenses.
Responsibilities:
Drive Portfolio Performance
Maximize portfolio NOI by implementing driving economic occupancy, adding additional revenue streams at properties and driving expense savings.
Review existing property debt and push properties to qualify for optimal refinancing as applicable (agency debt preferred after stabilized).
Work with vendor to challenge property taxes annually and seek property tax abatement programs when applicable.
Review and optimize property insurance cost and related coverage.
Oversee Third Party Property Manager
Maintain maximum accountability with property managers to ensure KPI’s are met and exceeded.
Review property management contracts and provide comments to legal. Identify and interview new property management companies when replacement is needed.
Create a uniform property manager reporting template and update over time.
Meet weekly with each asset’s property management team to review property performance and collaborate on solutions to any challenges that arise.
Visit properties quarterly - less frequently for strong performing assets.
Track all property KPI’s (weekly, monthly, quarterly) to identify trends and budget/pro forma variances.
Conduct thorough quarterly reports on property managers’ performance per property.
Coordinate with property manager regional for any inspections.
Review annual operating budgets from property manager and provide feedback.
Financial Statements Analysis
Ensure the property manager closes out monthly financial reports by the 20th of each month.
Analyze financial reports for variances not identified by property manager.
Review financial statements for “above the line” operating expenses that should be recategorized “below the line” capitalized expenses.
Compare performance to initial budget and current budget numbers, flag variances that exceed 5% and identify causes for variance.
Monitor trends with aging payables and collections and rising expense line items.
Confirm that additional equity contributions are correctly attributed by property manager to correct investor’s capital account.
Confirm with internal finance team that property manager has correctly booked closing statement details for acquisitions and loan refinances.
Lender Reporting and Communication
Provide lenders/loan servicers with weekly and monthly requested reports.
Attend lender calls to communicate context and solutions for any asset performance challenges.
Prepare and submit draw requests to lenders for capex and interest reserve draws.
Track all loan material terms and loan covenant requirements for each asset.
Check monthly loan statements to ensure accuracy.
Coordinate with lockbox account bank, lender and property manager.
Work with loan broker to identify refinance targets.
Vendor Management
Ensure all vendor contracts have a win-win scope of work and multiple bids are obtained to keep pricing competitive.
Audit vendor work product to ensure scope of work is fully met.
Oversee new bids for all existing contracts at least annually to lower expenses.
Forward any invoice for property to property manager to ensure prompt payment.
Communicate with supervisor if any additional capital is needed for an asset.
Hire and oversee non-property manager vendors.
Construction Management
Coordinate with property manager and construction manager to ensure renovations are proceeding on schedule and on budget.
Confirm that renovated units are obtaining anticipated rent bumps.
Asset Reporting
Prepare detailed quarterly investor reports for each asset.
Review internal cap table tracker for any capital contributions made to the asset.
For assets where we are the limited partner, review monthly reports and financials.
Acquisition Due Diligence
Support acquisition team by ordering and reviewing reports.
Identify and interview best in class property management companies.
Prepare business plan and renovation scope for value add program.
Audit lease contracts and vendor contracts.
Disposition
Identify top selling brokers in each market and interview them.
Most Important Qualification:
Minimum 5 years experience in portfolio or asset management in the multifamily asset class.
You are a results-driven warrior with a strong mind.
You enjoy working closely with cross-functional teams and thrive on challenges.
Job Type:
Full-time
Base Pay:
$110,000 - $150,000 base salary per year, depending on experience.
Performance Bonus:
Substantial Bonus for performance to be paid as a percentage of the Sponsor promoted interest for each Fund.
Benefits:
401(k)
Dental insurance
Health insurance
Paid time off
Vision insurance
Work Location:
In person / in office in downtown San Diego 5 days per week - No remote work.
#J-18808-Ljbffr
DiversyFund is an online platform that democratizes alternative asset investing, providing opportunities for everyday investors to build wealth like the 1%.
This is a Tech firm scaling rapidly to prepare for an IPO or sale of the company. We use EOS to operate and the baseline body of knowledge we use are the publications: Traction + Rocket Fuel (Geno Wickman), and Art of War (Sun Tzu) combined with the 5-set book series Strategyzer [Business Model Generation, Value Proposition Design, Testing Business Ideas, High Impact Tools for Teams, and the Invincible Company] (Alex Osterwalder).
We are a Tech Startup poised to explode and thus looking for OUTSTANDING World Class Talent that understands mission first. We DO NOT miss deadlines or fail to execute. Execution and performance are EVERYTHING here. This is not a place for work-life balance or to perfect your golf game.
You MUST be a BOLD decisive problem solver who will make decisions rapidly. We desire Spartans here. Winners. Warriors. Those who love challenge, reward, and enjoy solving problems with other like-minded professionals who value winning over everything.
Overview:
The Portfolio Performance Manager is a driver in our business who is solution focused and results oriented. Your number one priority is to drive value across the entire portfolio of multifamily assets by increasing NOI and Cash Flow by increasing rents, revenue, occupancy and collections and decreasing asset expenses, obtaining more favorable debt, while also decreasing fund expenses.
Responsibilities:
Drive Portfolio Performance
Maximize portfolio NOI by implementing driving economic occupancy, adding additional revenue streams at properties and driving expense savings.
Review existing property debt and push properties to qualify for optimal refinancing as applicable (agency debt preferred after stabilized).
Work with vendor to challenge property taxes annually and seek property tax abatement programs when applicable.
Review and optimize property insurance cost and related coverage.
Oversee Third Party Property Manager
Maintain maximum accountability with property managers to ensure KPI’s are met and exceeded.
Review property management contracts and provide comments to legal. Identify and interview new property management companies when replacement is needed.
Create a uniform property manager reporting template and update over time.
Meet weekly with each asset’s property management team to review property performance and collaborate on solutions to any challenges that arise.
Visit properties quarterly - less frequently for strong performing assets.
Track all property KPI’s (weekly, monthly, quarterly) to identify trends and budget/pro forma variances.
Conduct thorough quarterly reports on property managers’ performance per property.
Coordinate with property manager regional for any inspections.
Review annual operating budgets from property manager and provide feedback.
Financial Statements Analysis
Ensure the property manager closes out monthly financial reports by the 20th of each month.
Analyze financial reports for variances not identified by property manager.
Review financial statements for “above the line” operating expenses that should be recategorized “below the line” capitalized expenses.
Compare performance to initial budget and current budget numbers, flag variances that exceed 5% and identify causes for variance.
Monitor trends with aging payables and collections and rising expense line items.
Confirm that additional equity contributions are correctly attributed by property manager to correct investor’s capital account.
Confirm with internal finance team that property manager has correctly booked closing statement details for acquisitions and loan refinances.
Lender Reporting and Communication
Provide lenders/loan servicers with weekly and monthly requested reports.
Attend lender calls to communicate context and solutions for any asset performance challenges.
Prepare and submit draw requests to lenders for capex and interest reserve draws.
Track all loan material terms and loan covenant requirements for each asset.
Check monthly loan statements to ensure accuracy.
Coordinate with lockbox account bank, lender and property manager.
Work with loan broker to identify refinance targets.
Vendor Management
Ensure all vendor contracts have a win-win scope of work and multiple bids are obtained to keep pricing competitive.
Audit vendor work product to ensure scope of work is fully met.
Oversee new bids for all existing contracts at least annually to lower expenses.
Forward any invoice for property to property manager to ensure prompt payment.
Communicate with supervisor if any additional capital is needed for an asset.
Hire and oversee non-property manager vendors.
Construction Management
Coordinate with property manager and construction manager to ensure renovations are proceeding on schedule and on budget.
Confirm that renovated units are obtaining anticipated rent bumps.
Asset Reporting
Prepare detailed quarterly investor reports for each asset.
Review internal cap table tracker for any capital contributions made to the asset.
For assets where we are the limited partner, review monthly reports and financials.
Acquisition Due Diligence
Support acquisition team by ordering and reviewing reports.
Identify and interview best in class property management companies.
Prepare business plan and renovation scope for value add program.
Audit lease contracts and vendor contracts.
Disposition
Identify top selling brokers in each market and interview them.
Most Important Qualification:
Minimum 5 years experience in portfolio or asset management in the multifamily asset class.
You are a results-driven warrior with a strong mind.
You enjoy working closely with cross-functional teams and thrive on challenges.
Job Type:
Full-time
Base Pay:
$110,000 - $150,000 base salary per year, depending on experience.
Performance Bonus:
Substantial Bonus for performance to be paid as a percentage of the Sponsor promoted interest for each Fund.
Benefits:
401(k)
Dental insurance
Health insurance
Paid time off
Vision insurance
Work Location:
In person / in office in downtown San Diego 5 days per week - No remote work.
#J-18808-Ljbffr