Director, Real Estate Asset Management

CARE’s goal is to acquire and stabilize over 500 properties within 10 years. As an early member of the team and our first in-house asset manager, you will set the processes and build the team of colleagues and contractors to assure that CARE properties are well maintained and that CARE is perceived as a fair and mission-aligned landlord to its child care tenants. You will oversee all of our asset management activities in various geographies across the U.S. You will be well-supported, working closely alongside the CARE real estate team in addition to the broader MDF organization, with ongoing opportunities for professional growth as CARE expands.

Primary responsibilities

You will be the steward of CARE’s properties from closing through renovation and occupancy to disposition. CARE’s initial 2023 portfolio is expected to be mostly single-family homes (30–40) plus a few small commercial properties. The largest number of properties this year will be in Clark County (Las Vegas), Nevada, with a smaller number in San Diego County, CA, and a few properties in other locations around the nation. Your responsibilities will include:

• Maximizing the financial and mission performance of properties: Collaborate with the MDF team to develop asset plans and operating budgets for each property within the portfolio. Monitor budgets and financial performance of the properties while tracking and reporting on key metrics relative to the asset plans.
• Construction/renovation supervision: Supervise construction project managers and other contractors responsible for the renovations required to prepare properties for initial occupancy.
• Construction close-out and provider-tenant occupancy: In coordination with CARE’s provider selection process, work with the CARE real estate team, property manager, licensing and permitting, and provider-tenants to oversee a seamless “move-in” experience.
• Selection, guidance, and oversight of property managers: Supervise local and regional property management firm(s) including coordinating responses to tenant issues and managing budgets for major repairs, maintenance, and capital improvements. Ensure that CARE behaves as a stable, fair, child care-friendly landlord through its property managers and meets or exceeds licensing and physical standards for child care facilities.  
• Risk management and compliance: Identify and recommend opportunities to improve and mitigate risks related to site selection, construction and maintenance plans, insurance, lease agreements, and other similar elements; ensure compliance with project agreements and other regulatory, financing, and joint venture requirements.
• Market expertise: Stay informed on trends within the market and risks/opportunities posed for the CARE portfolio.
• Acquisitions: Serve as a key stakeholder for the CARE acquisitions team on location selection, market trends, and other place-based information that will be incorporated into CARE’s investment process.
• Networking: Develop a network of vendors and build key relationships to ensure that CARE property operations receive favorable pricing and benefit from strategic opportunities.

This position may require travel up to 20% of the time to visit properties and partners in person.

An ideal candidate will value:

• Our mission to build a better financial system
• Developing solutions from a team perspective
• Ability to execute semi-independently
• Commitment to quality balanced with efficiency
• Sense of humor, flexibility, and resilience

And have a background and skills that include:

• 5+ years of demonstrated experience working in real estate asset management, ideally with some experience with smaller commercial properties and single-family rentals (SFR)
• Strong understanding of real estate finance, renovation and construction, leasing, and property operations
• Excellent verbal and written communication
• Strong analytical and critical thinking skills with a desire to solve sophisticated problems
• Adaptability and responsiveness in an evolving startup environment with competing priorities and deadlines
• Comfort with technology tools, including real estate management system(s), Excel, Google Workspace, Salesforce, project management systems (Asana), and communication systems (Slack)

Preference for candidates that also have one or more of:

• Experience working in community development or the impact investment industry
• Fluency in another language beyond English
• Understanding of nonprofits, small businesses, lending, financing, real estate transactions
• Lived experience in our target investment communities, such as BIPOC, New American, veteran, and other overlooked and underestimated communities

Compensation

This role has an annual salary range of $100,000–$125,000, and includes company standard benefits:

• Unlimited time off plan along with 10 paid holidays
• Remote and flexible work schedule and environment
• 401k retirement plan with 4% employer match
• Stipend for work-from-home expenses
• Access to health/dental/vision plan
• Participation in company incentive program(s)
• $500 annual professional development stipend

Equal opportunity employer 

Mission Driven Finance is an equal opportunity employer. We encourage all qualified candidates, regardless of race, ethnicity, religion, national origin, age, sex, disability, veteran status, or gender identity to apply for this position. We welcome smart people with non-linear/non-traditional experiences and educational backgrounds to join our team. Should a candidate be offered the position, they will need to show documentation of the ability to work in the U.S. including completing an I-9. We are unable to offer work visas at this time.

COVID-19 and Mission Driven Finance

As Mission Driven Finance has grown through the pandemic, we’ve embraced distributed work-life with team members working across the United States where it suits them best and coming together in real life when we can do so safely. Public health permitting, we aim to gather the team in person on a roughly quarterly basis. To support team safety, Mission Driven Finance has instituted a mandatory COVID-19 vaccine disclosure policy and mandate.