Senior Underwriter (FULL-TIME)

This application is your first step toward becoming part of a team that values collaboration, growth, and meaningful impact.

Comprehensive Benefits - including medical, dental, vision, life, disability, and 401(k) retirement plans.

Work-Life Balance Support - paid time off, holidays, sick leave, parental leave, and other forms of protected leave across our companies.

Wellness & Lifestyle Perks - employer-funded Lifestyle Spending Account, Employee Assistance Program, and access to voluntary benefits such as pet insurance, accident, and critical illness coverage.

Growth & Opportunity - a culture of training, development, and internal promotion, with clear pathways for career advancement!

Senior Underwriter — AI-Enabled Investment Analysis
Location: Las Vegas / Henderson, Nevada — onsite, with periodic travel for site visits and market tours

Full-time, exempt

Real Capital is looking for a technically fluent Senior Underwriter to drive acquisitions and investment decisions across our self-storage and express car-wash platforms. You will independently evaluate opportunities, own and improve our underwriting models, keep the acquisition pipeline moving, and help build the governed AI workflows that make our investment process faster and more consistent.

You will work directly with the CEO, present your own analysis to investors and the investment committee, and set the underwriting standards that future analysts will follow. You will also be the person who translates underwriting judgment into documented, testable systems — the work that determines how much deal volume our acquisitions team can carry.

You can spot weak source data, challenge assumptions, explain what actually drives returns, and defend your own underwriting in front of investors. You are comfortable with AI tools and structured data today, and you want to go considerably deeper — we will invest in building that expertise. Underwriting and Investment Analysis

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, including operating projections, debt assumptions, returns, sensitivities, downside cases, and exit scenarios.

Identify missing, inconsistent, or unreliable source data and resolve it before recommendations are presented.

Research markets and competitors, including supply, rents, occupancy, development pipeline, demographics, pricing, and local operating conditions.

Prepare concise investment summaries that state the opportunity, risks, assumptions, sensitivities, open issues, and your recommendation.

Support investment-committee discussions and answer questions with traceable data and analysis.

Pipeline Management and Execution

Maintain a single, 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 keep active opportunities moving.

Keep model versions, supporting documents, and decision records organized.

Support post-close reviews by comparing actual performance against underwriting assumptions, and feed what you learn back into future underwriting.

AI-Enabled Underwriting and Process Improvement

Document the current underwriting process, 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.

Assist with data mapping and evaluation of third-party sources and APIs, including competitor, rate, occupancy, demographic, and pipeline data.

Track changes to financial models and AI workflows so output stays reproducible and auditable.

Work directly 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.

Help establish scalable underwriting standards that support future analysts and higher transaction volume.

Take ownership of the active underwriting pipeline, with clear priorities and next actions.

Demonstrate independent command of our core financial models and investment standards.

Document the current underwriting workflow, major judgment points, exceptions, and QA checklist.

Identify gaps in our market data, automation opportunities, and resource needs that would improve underwriting accuracy and speed.

Own a consistent, auditable underwriting process across both platforms.

Produce measurable improvements in pipeline visibility, model consistency, and turnaround time.

Bachelor’s degree in finance, real estate, economics, accounting, or business — or equivalent practical experience.

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 real analytical work — you have put an LLM to work on modeling, data analysis, or research, and can speak to where it helped and where it fell short.

Strong attention to detail, and the instinct to trace every output back to source data.

Based in, or willing to relocate to, the Las Vegas / Henderson area.

Self-storage, car-wash, multi-site operating business, or other operationally intensive real estate experience.

Hands‑on experience with Cowork, Claude Code, Codex, or comparable AI tooling, 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.

A written investment recommendation identifying key assumptions, missing information, and risks.

All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status or disability status.

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