Apartment Syndicators Seeking Part-time Controller!!
We're looking for a Controller for our real estate investment business here in Los Angeles. The name of our company is BCGK and we are apartment syndicators - which if you're not familiar with that term it's basically another way to say that we raise money from a large group of investors, for the purpose of purchasing large apartment complexes. Our company is still in its early years - as we just launched in 2020. In that time frame however, we've managed to go from owning a single triplex worth $179,000 to now having 53 units worth approximately $10M.
Looking forward, our next goal is to go from $10M in Assets Under Management (AUM) to $100M AUM over the next 3-5 years. In working towards that goal, we're now finding ourselves in a position where some of our earlier systems and processes are breaking down. In other words, the more we grow, the more we realize that we need to expand our team with people that can take the burden off of the four founding partners - who up until this point have been responsible for most functions here.
In terms of what we're looking for from a Part-Time Controller:
1) To review and audit all of the financials for each property, every month: the P&L/Balance sheet from our bookkeeper - the bank statement - the property management report. We need someone to audit all three of these items and look for inconsistencies, errors, anomalies, etc. We'd then like an internal report given to the partners.
*Note: Each property we own has it's own LLC and it's own bank account/set of bookkeeping books. Our bookkeeping team typically delivers ALL financial statements for each property by the 5th or 7th of each month.
2) To help prepare our quarterly reporting for our investors. Every 90 days we do an investor distribution - which is accompanied with a delivery of 3 months worth of financials to the investors (bank statements, P&Ls/Balance Sheet, etc.) Similar to the monthly internal auditing, we need a quarterly audit and report put together for the investors. While the bookkeeper is responsible for making the actual reports, your job will be to direct them, get the items we need, put everything together in a format that is ready for publication through the investor portal and to get our partner approval before it's all sent out.
*As part of the quarterly function, we'll have you operate our investor program in order to initial all of the ACH payments once we greenlight
3) To manage our accounts payable list and help us get payments out to various vendors when needed
*This will include writing checks for us and mailing them once signed by a partner.
4) To work with our Operations Team to forecast Cashflow - which includes maintaining a master budget per property - to track in real time our profitability throughout each quarter.
5) To keep a detailed list of all company debts - with payment amounts, due dates, etc.
6) To help the company in obtaining various credit cards, lines of credit or other financial tools as needed.
*Note: The company uses a loan broker for all MORTGAGE related needs.
7) To be the primary contact for all 3rd party financial team members: In other words, you will be the primary contact for the CPA, Bookkeeper and Banking Rep going forward.
In summary, we're looking for someone to audit our financials monthly, prepare our quarterly investor reporting and to generally handle other financial related/Controller typical functions for our company.
Schedule:
We're looking for someone who lives here in LA who can come physically into our office 2 days a week for approx. 6 hours per day. So for example: Tuesdays and Fridays, 9AM to 2PM or 11AM to 5PM etc.
PAY:
We'd like to start with $500 a week ($250 for each day worked) for a 90 day trial and we are open to increasing the payrate at the end of 90 days if things are working well. 1099/Independent Contractor.
Questions, comments, please ask! MUST have experience working in accounting, finance, bookkeeping and/or as a Controller.
Thanks!
- Principals only. Recruiters, please don't contact this job poster.
- do NOT contact us with unsolicited services or offers
