Investment Analyst

About Local Residential

Local Residential is a San Francisco-based private investment firm that invests in residential assets for the purpose of short-term rental. Local Residential’s mandate is primarily focused on residential assets that are currently operational but will opportunistically pursue development and value-add projects.

Local Residential is a joint venture between Eleven Capital Management and Local Capital Group. Eleven Capital Management is an investment firm which has over 100 full-time employees and its primary business lines are Asset Management, Property Management and Technology Ventures. Local Capital Group is a real estate firm which acquires and develops residential and commercial properties – the firm currently has 75 units under development in NYC and SF. Together, Local Residential’s team has years of experience across Blackstone, Morgan Stanley, Merrill Lynch, and Bain & Company. This role is a unique opportunity to join an entrepreneurial early-stage firm, backed by strong institutional capital, and help build out its platform.

Local Residential is based in San Francisco, CA and has affiliated offices in Jacksonville and New York City. 


Job Description

Local Residential is currently hiring an Investment Analyst who will report to the Vice President of Investments. The ideal start date is immediate/near term.

The candidate will be involved in investment sourcing, analysis, due diligence, and documentation for both new and existing investments across residential short-term rental properties. Typical responsibilities include:

• Due Diligence (80%): Executing due diligence (including market analysis; competitive analysis; financial modeling; deal structuring; in-depth pro forma underwriting)
  • Using emerging technology tools such as AirDNA and Transparent to support market and comparable analysis
  • Updating existing financial models and investment memos for the purpose of evaluating new, individual acquisition opportunities
  • Building detailed, de-novo financial models for the purpose of analyzing complex, larger scale portfolio acquisition opportunities

• Transaction Management (10%):
  • Working with the investment team and external partners (e.g. title/escrow, brokers, property managers, etc.) to source, manage, close, and onboard transactions as needed
    
    
• Asset Management (5%):
  • Assist management with the construction of financial budgets and re-forecasts, gaining valuable operational experience
  • Review budget-to-actual financial performance

• Fund Management (5%):
  • Working with legal, financial, and commercial advisors on diligence, structuring, negotiations, and other investor relation materials
  • Conduct other ad-hoc data, research, and/or investment projects

 This is a career-track role which offers a high degree of autonomy, responsibility, and upward mobility over the long term.

Qualifications

The ideal candidate will have:

• One to three years of work experience in either investment banking, private equity, growth equity, management consulting, or real estate roles
• Exceptional analytical and problem-solving skills
• Extensive experience in MS Office Suite (Excel, PowerPoint, Word); advanced Excel modeling skills
• Willingness to learn new and emerging technologies
• Self-starter with the ability to operate effectively with limited supervision
• Strong leadership, interpersonal, management, organizational and communication skills
• A record of academic and professional success
• An ability to fit into a small team and highly demanding work environment
• A strong interest in real estate and travel

Local Residential is a young and growing company, as such we expect the successful candidate to be eager and willing to adapt and thrive in an environment which may require flexibility in responsibilities and setting.

 
Location

• Local Residential’s San Francisco headquarters, located in the Presidio (flexibility for limited remote work)
• Travel to prospective assets and other Local Residential offices and business locations may be required

 Compensation

• Compensation is based on experience and is market competitive

Vacation

• All federal holidays
• 20 days paid time off per year to cover vacation, sick days, personal days, bereavement days and requested time off for any other reason

Start Date

• Immediate/near-term
• This is a full-time position, but we are also open to externships/secondments (who will have the opportunity to convert to a full-time position)