Senior Underwriter

Real Capital•Las Vegas, NV

7d•Onsite

About The Position

Real Capital is seeking a technically fluent Senior Underwriter to drive acquisitions and investment decisions across its self-storage and express car-wash platforms. The role independently evaluates opportunities, owns and improves underwriting models, manages the acquisition pipeline, and helps develop governed AI workflows that make investment analysis faster and more consistent. The Senior Underwriter works directly with the CEO, presents analyses to investors and the investment committee, and establishes underwriting standards for future analysts. The position translates underwriting judgment into documented, testable systems and collaborates with investment leadership, asset-class leaders, engineers, and cross-functional teams. The position is based onsite in the Las Vegas / Henderson, Nevada area, with periodic travel for site visits and market tours. It is full-time and exempt, and reports to the Chief Executive Officer. In the first 90 days, the successful candidate is expected to take ownership of the active underwriting pipeline, demonstrate command of core models and investment standards, document workflows and quality-control practices, complete accurate underwriting with minimal rework, and identify data gaps and automation opportunities. Within six months, the candidate is expected to own a consistent and auditable underwriting process across both platforms, reduce manual work and cycle time without weakening judgment or controls, support rollout of an AI-assisted workflow, and improve pipeline visibility, model consistency, and turnaround time.

Requirements

Bachelor’s degree in finance, real estate, economics, accounting, or business, or equivalent practical experience.
At least 5 years of commercial real estate underwriting, acquisitions, investment analysis, or asset-management experience.
Advanced Excel and financial-modeling capability, including cash-flow projections, debt modeling, sensitivities, and return analysis.
Demonstrated use of AI tools for substantive analytical work, such as modeling, data analysis, or research, and ability to discuss where they helped and fell short.
Ability to independently evaluate assumptions and produce a defensible investment recommendation.
Strong attention to detail and ability to trace outputs back to source data.
Ability to manage multiple active opportunities and deadlines while maintaining follow-up.
Strong written and verbal communication skills.
Based in or willing to relocate to the Las Vegas / Henderson area.

Nice To Haves

Experience in self-storage, car-wash, multi-site operating businesses, or other operationally intensive real estate.
Hands-on experience with Cowork, Claude Code, Codex, or comparable AI tools, including structured prompting, workflow automation, or output validation.
Comfort working with structured data, APIs, SQL, Python, or business-intelligence tools.
Experience improving underwriting templates, investment-committee materials, or acquisition pipeline systems.

Responsibilities

Independently underwrite self-storage and express car-wash acquisitions, developments, expansions, and value-add opportunities.
Review offering materials, rent rolls, historical operating statements, budgets, market and site information, financing terms, and due-diligence materials.
Build, audit, and maintain detailed financial models covering operating projections, debt assumptions, returns, sensitivities, downside cases, and exit scenarios.
Identify missing, inconsistent, or unreliable source data and resolve it before presenting recommendations.
Research markets and competitors, including supply, rents, occupancy, development pipeline, demographics, pricing, and local operating conditions.
Prepare concise investment summaries stating the opportunity, risks, assumptions, sensitivities, open issues, and recommendation.
Support investment-committee discussions and answer questions using traceable data and analysis.
Maintain an accurate acquisition pipeline showing stage, owner, priority, missing information, underwriting status, next action, and decision date.
Coordinate with acquisitions, asset management, finance, legal, construction, and operations to advance active opportunities.
Surface stale deals, unresolved assumptions, resource conflicts, and decision bottlenecks early.
Organize model versions, supporting documents, and decision records.
Support post-close reviews by comparing actual performance against underwriting assumptions and incorporating findings into future underwriting.
Document underwriting processes, model conventions, approval gates, exception handling, and quality-control standards.
Translate underwriting workflows into requirements for repeatable AI skills, agents, and pipeline automations.
Validate AI-generated output against approved financial models, source documents, competitor data, and human underwriting conclusions.
Define failure conditions and human-review gates so systems flag uncertainty rather than fill gaps with assumptions.
Assist with data mapping and evaluation of third-party sources and APIs for competitor, rate, occupancy, demographic, and pipeline data.
Build lightweight automations and collaborate with engineers on integrations requiring production support.
Track changes to financial models and AI workflows to keep output reproducible and auditable.
Work with the CEO and investment leadership to prioritize work across the storage and car-wash platforms.
Take functional underwriting direction from the relevant asset-class leader while maintaining consistent standards and independent analysis.
Communicate with technical and nontechnical stakeholders and help establish scalable underwriting standards.