[Hiring] Underwriting Associate @Hire5

Role Description

We’re hiring an Underwriting Associate to act as the “first responder” on new property leads. Your job is to quickly (within 1 h) evaluate raw retail opportunities and turn them into investable business cases. You'll assess the potential upside, pressure-test assumptions, and help us make buy decisions — fast. This is napkin underwriting with real impact: based on your analysis, we decide whether to make an offer. You’ll also support deeper second-round reviews and follow-up diligence for deals we pursue.

Responsibilities

• Underwrite property leads daily across U.S. markets, with a focus on Washington
• Quickly turn around high-level investment analyses: check zoning, pull lease comps, assess value-add potential
• Build and maintain financial models (cash-flow, sensitivity, DCR, IRR, equity multiple, waterfall)
• Call brokers, qualify leads, and clarify assumptions
• Conduct market and HBU analysis: rent/sales comps, zoning/FAR, demographic trends, parking requirements
• Draft concise IC memos and lender packages that clearly defend the business plan and risk profile
• Support deeper diligence for deals that move to the next phase

Qualifications

• 1–3 years of hands-on underwriting experience (real estate or investment banking) for the U.S. market
• Direct exposure to U.S. retail real estate, especially strip malls or value-add repositioning
• Bachelor's degree in Finance, Real Estate, Economics, Engineering, or a related field
• Proficient in Excel and Google Sheets (including nested formulas, Power Query or VBA a plus)
• Demonstrated ability to model ground-up or heavy-value-add projects (IRR, equity multiple, waterfall)
• Comfortable interpreting zoning codes, reading architectural drawings, and discussing site layout plans
• Clear written and verbal communication; able to distill a 50-tab model into a five-slide pitch
• Sharp, fast, and organized — you don’t wait for instruction, you take initiative

Requirements

• Required availability: 8:00 AM – 3:00 PM PST (Monday to Friday). The remaining 2 hours are flexible.

Benefits

• Full-time job (8 working hours per day, Monday-Friday)
• Direct Impact – Your underwriting will directly influence multimillion-dollar investment decisions.
• Speed & Autonomy – We move fast and value independent thinking.
• Salary will be discussed during the interview. Paid in USD.
• Quick selection process.

Selection Process

• Initial Interview with Hire5's Recruiter
• Submit a Past Underwriting Sample - you’ll be asked to share a previous underwriting report you personally prepared for a value-add retail acquisition in the U.S.
• First Interview with the Managing Partners (30 minutes) - a focused conversation to assess alignment and dive deeper into your approach to underwriting and retail assets.
• Second Interview with the Managing Partners (45 minutes) - a detailed discussion covering your experience, strategic thinking, and expectations.
• Final Stage: test assignment. You’ll produce a fresh underwriting report on Elliot Plaza — a mismanaged 68 KSF strip mall in Seattle.