Real Estate Associate

Company Description

Monterra is a Salt Lake City-based real estate firm focused on residential development and multifamily acquisitions across the Wasatch Front. With a focus on quality and innovation, we are committed to delivering projects that stand out, and we have an unwavering commitment to excellence in everything that we do. We're a two-partner shop looking to grow our portfolio and expand property management services to third parties. We're hiring our first team member to help us scale the business.

Role Description

This is a generalist seat at a small, fast-moving firm. You'll work directly with the partners across property operations, asset management, investor relations, and acquisitions. The role is intentionally cross-functional — you might spend the morning underwriting a deal, the afternoon showing a unit to a prospective tenant, and the next day building a quarterly investor update.

That breadth is the point. If you want to become the kind of real estate professional who understands how real estate development and investing actually works — not just how the spreadsheet models work — this seat gives you a level of exposure and ownership you won't find at a larger firm.

We are long-term thinkers and this role will provide meaningful growth and development opportunities for someone interested in building a long-term career. 

What you will do

The mix below is approximate and will shift over time as the portfolio grows.

Property Operations & Management (~35-45%)

• Manage the leasing process end-to-end, from advertising to showing units to prospective tenants and onboarding
• Build trust with residents and respond to inquiries professionally
• Coordinate with vendors, maintenance, and on-site staff
• Identify and implement process improvements across all property management functions — we want to build a strong operating model ahead of expanding property management services to third parties in the second half of 2026 and you will play a critical role in this

Asset Management & Investor Reporting (~20-25%)

• Maintain property-level financials and budget-to-actual reporting
• Prepare investor updates and important notices
• Support refinancing and disposition analysis
• Track operating KPIs and flag issues to the partners early

Investments & Acquisitions (~15-20%)

• Source and screen multifamily and development opportunities
• Build and stress-test underwriting models
• Conduct market and competitive analysis
• Support due diligence on properties under contract (financial, physical, legal)
• Coordinate with brokers, lenders, and counsel through closing

Special Projects (~10-15%)

• Internal process design, testing and developing AI-related workflows, market analysis, plus other research and project-related assignments that touch all business functions

Who we're looking for

Must-haves

• Bachelor’s Degree or Equivalent
• 1–4 years in real estate, finance, consulting, or another analytical role (a strong recent grad with unmistakable real estate interest will also be considered)
• Strong analytical and critical thinking skills — you can build a model and pressure-test someone else's
• Excellent written and verbal communication
• Genuinely personable — you'll be the face of our properties to prospective and current tenants, and participate in meetings with various stakeholders
• Humble and team-oriented — this role moves between high-level deal work and on-the-ground operations. The right person sees both as meaningful and treats neither as beneath them
• Initiative and creativity — we'll train you and we have bandwidth to do so, but your default should be to act
• Familiarity with key AI platforms (i.e., ChatGPT, Claude, etc.)

Nice-to-haves

• Master’s Degree or Equivalent
• Real estate coursework, internship, or prior multifamily and/or development experience
• Familiarity with Excel modeling, PowerPoint, property management software (e.g., AppFolio), GIS mapping, and CoStar
• Working knowledge of Utah's rental market
• Spanish proficiency

Compensation & benefits

• Base salary based on experience level + annual performance-based bonus
• Profits interest opportunity after 12 months of strong performance, with a 5-year vest and 2-year cliff
• Health insurance
• Dental and vision insurance
• 401(k) match
• Hybrid schedule: 3 days per week minimum in our Salt Lake City office, remaining days flexible
• 3 weeks PTO