Senior Underwriter

Real Capital • Las Vegas, NV

1d • Onsite

About The Position

Real Capital is hiring 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 to make investment processes faster and more consistent. The position works directly with the CEO, presents analysis to investors and the investment committee, and establishes underwriting standards for future analysts. It is based onsite in Las Vegas / Henderson, Nevada, with periodic travel for site visits and market tours, and reports to the Chief Executive Officer.

The Senior Underwriter reviews deal materials and source data, builds and audits detailed financial models, researches markets and competitors, and prepares investment recommendations that clearly articulate assumptions, risks, sensitivities, open issues, and conclusions. The role coordinates active opportunities across internal teams, maintains organized pipeline and decision records, and supports post-close reviews.

The position also documents underwriting procedures and quality controls, translates workflows into requirements for AI tools and automations, validates AI-generated output against source materials and approved models, and defines failure conditions and human-review gates. The underwriter may build lightweight automations and partners with engineers on production integrations. Success includes maintaining an auditable underwriting process, improving pipeline visibility and model consistency, and reducing manual work and cycle time without weakening investment judgment or controls.

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 develop 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 control of follow-up.
• Strong written and verbal communication skills.
• Based in or willing to relocate to the Las Vegas / Henderson area.
• Prior experience with or general exposure to APIs and workflow automation.
• Comfort with AI tools and structured data, with interest in developing deeper expertise.

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 data, 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 covering opportunities, risks, assumptions, sensitivities, open issues, and recommendations.
• Support investment-committee discussions and answer questions using traceable data and analysis.
• Maintain an accurate acquisition pipeline with deal 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 with underwriting assumptions and incorporating lessons 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 mapping data and evaluating third-party sources and APIs, including competitor, rate, occupancy, demographic, and pipeline data.
• Build lightweight automations and work with engineers on integrations requiring production support.
• Track changes to financial models and AI workflows to keep outputs 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 clearly with technical and nontechnical stakeholders.
• Establish scalable underwriting standards that can support future analysts and higher transaction volume.

Benefits

• Medical, dental, vision, life, and disability coverage, and 401(k) retirement plans.
• Paid time off, holidays, sick leave, parental leave, and other forms of protected leave.
• Employer-funded Lifestyle Spending Account.
• Employee Assistance Program.
• Access to voluntary benefits such as pet insurance, accident, and critical illness coverage.
• Training, development, internal promotion, and pathways for career advancement.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior