June 1, 2021
Eleven Talents is seeking a results-focused REO Senior Director of Investments to join our growing organization.
Eleven Talents is an investment firm focused on unlocking value in real estate. One way we accomplish this is through our research, underwriting and purchase of real estate assets. The team is currently engaged in judicial and non-judicial foreclosure opportunity channels and is seeking an experienced residential real estate investment professional to lead these efforts.
The REO Senior Director of Investments will lead multiple existing acquisition strategies in adjacent markets in the Midwest and to grow additional opportunity channels resulting in additional REO opportunity. The team is equipped and capitalized at a level to purchase up to 500 REO assets annually and is excited to support a results focused leader with the ability to set and achieve above market investment return objectives.
Eleven Talents, LLC is a closely held real estate firm with multiple areas of focus including single family re-development, real estate development, investment real estate, lending and tax lien investing. These focus areas make up six closely held operating companies with shared staff and resources.
- Understand, evaluate, and update existing channel opportunity flow provided by research and shared services teams to ensure that opportunities of being reviewed and decisioned in a timely manner
- Establish, evaluate, and update underwriting standards for REO Investing in conjunction with CIO and Asset Management Team to include purchase parameters and establishment of risk ratings on assets and submarkets
- Evaluate and establish additional opportunity channels in the space and work with shared services and research team to establish process for evaluating and acting upon these channels; additional channels may include bulk REO purchasing, distressed debt or lien purchasing or strategic partnerships with existing owners of REO assets
- Prepare and update Market Investment Plans outlining the key objectives, gross margin targets and return expectations paired with the execution strategy and key elements of success
- Provide quarterly stakeholder insights into investment performance to demonstrate a strong command over our risk management processes
- Clear understanding of the data that drives the investing process and play an integral part in the revision and enhancement of these data elements
- Analyze REO performance in conjunction with Finance/Analytics team to establish clear performance expectations and benchmarks
- Oversight of market dynamics with support from Analytics team to understand key risk points in submarkets that could lead to poor performance. Enact proactive investment strategies in conjunction with CIO to head of this anticipated risk
- Lead Weekly Investment Underwriting Rhythm with Market Acquisition Managers to ensure that opportunities are stack-ranked by order of opportunity value and that all investment decisions are being made in sufficient time to act
- Lead process by which Market Acquisition Managers have a venue to surface investment questions on opportunities and seek input guidance from CIO
- Review all approved purchases to ensure adherence to investment parameters set by team including consideration of rehab risk, market risk and execution risk
- Daily huddle with key acquisition stakeholders including managers, title, and research
- Point person with Information Technology team to deliver solutions that ensure our systems are guiding investment decisions in line with written investment standards
- Ensure that all new acquisitions have clearly documented investment plans delivered to Asset Management with all key assumptions and investment expectations outlined
- Monthly Scorecard reporting for deal acquisition in which forecasted gross profit target is measured against budget by market
- Oversight and approval of asset write-down process after receiving Market Acquisition Manager recommendations
EDUCATION, EXPERIENCE AND OTHER QUALIFICATIONS:
- Bachelor of Science Degree in related discipline
- 10+ years of related work experience to include experience with residential real estate investment, property management, and/or residential construction industry
- Exceptional relationship management skills and the ability to build and grow connections with people of all types and backgrounds
- Strong work experience overseeing strategic partnerships and client development, including identifying partners, structuring deal terms, contract negotiation, technical integration, and relationship management
- Ability to evaluate potential new markets and partners including market sizing, competitive assessments, and entry strategies
- Excellent communication, presentation, and business development skills
- Strong interpersonal skills with the ability to communicate and engage with all levels of the organization
- Highly organized and detail-oriented, with strong problem solving and creative thinking skills
- Exercise sound judgment and skilled at making decisions based on accurate and timely analyses
- Possess a high level of integrity and dependability with a strong sense of urgency and results-orientation
- Willing to embrace technology to promote efficient operations
- Strong command of Microsoft Office Suite including Outlook and Word programs as well as ability to learn and effectively operate computer and associated software programs
This full-time position offers a competitive benefits and compensation package including two group health insurance options: PPO or HDHP plans, dental, vision and voluntary life insurance at nominal costs as well as additional individual policy offerings of Direct Primary Care, Accident, Critical Illness and Hospitalization plans. Also available are Flex Spending Accounts (medical and dependent care) and/or an HSA account (with an HDHP). Company paid benefits include a $50K Life/AD&D Plan, Short and Long Disability Insurance plans, 401(k) with matching provision, unlimited vacation policy, 5 sick days per calendar year, 8 1/2 paid holidays and working in a collaborative, high energy team environment.
Please complete each part of this application – areas indicated with an “*” must be completed in order for the application to be submitted. This application will be kept on file for consideration for 90 days at which time it will expire. You are welcome to submit a new application at that time. Please let us know if you are in need of any reasonable accommodation in the application process.