Multifamily Real Estate Underwriter
Development & Acquisitions | Contract / Project-Based
Overview
We are seeking a highly capable and proactive Multifamily Real Estate Underwriter to support the underwriting of development and acquisition opportunities. This is not a traditional desk-only modeling role — the ideal candidate will go beyond the spreadsheet to validate assumptions in the real world. You will be expected to pick up the phone, call municipalities, lenders, and property management companies, and pressure-test every line item in the model. If you thrive on accuracy, initiative, and getting the details right down to the last dollar, this role is for you.
Key Responsibilities
Financial Modeling & Underwriting
Underwrite multifamily development and acquisition deals from start to finish
Build, update, and refine financial models using provided templates (improvements and enhancements are welcome and encouraged)
Pressure-test all underwriting assumptions and proactively identify potential risks, gaps, or areas of concern in each deal
Market Research & Comparable Analysis
Conduct thorough market research on comparable properties, including rental rates, concessions, absorption trends, and occupancy levels
Analyze local market conditions and competitive landscape to inform deal-level assumptions
Outbound Verification & Due Diligence Calls
Contact municipalities to confirm permit fees, impact fees, and zoning considerations
Reach out to lenders and banks to verify current interest rates, loan terms, and financing structures
Speak with property management companies to validate operating expense assumptions, including taxes, payroll, insurance, repairs, and maintenance costs
Ideal Candidate Profile
Required Qualifications
Demonstrated experience in real estate financial underwriting with a multifamily focus (development experience strongly preferred)
Advanced proficiency in Microsoft Excel, including the ability to build, audit, and enhance complex financial models
Comfortable and confident communicating by phone with municipalities, lenders, property managers, and other third-party contacts
Exceptionally detail-oriented with a commitment to digging into the “last 10%” of every deal to ensure accuracy
Based in the United States, or able to reliably work during U.S. business hours
Preferred Qualifications
Direct experience in the New Jersey and/or broader Northeast real estate markets
Background in both ground-up development and value-add acquisitions
Familiarity with local municipal processes, fee structures, and zoning codes in the Northeast region
Engagement Details
Engagement Type
Project-based contract with potential for ongoing work
Scope of Work
Financial modeling, market research, and outbound verification calls
Location
Remote (U.S.-based or U.S. business hours preferred)
Availability
Responsive and reliable; proactive communication is essential