Senior Legal Counsel
There are 17 million Americans who own rental property. Most don't want to be landlords anymore, but selling isn’t a good option. Why? You’d lose income and appreciation, trigger tax liabilities, kick out your tenants, have to fix up the house – the list goes on! Flock is here to help.
Flock is building the retirement solution for landlords. We’ve created the first tech-driven 721 Exchange to help individual rental property owners seamlessly convert their real estate into passively owned shares in a professionally managed portfolio of homes. Some people call it the UPREIT; we call it “The People’s REIT.“
In a traditional property sale, the transaction marks an end to the buyer/seller relationship – not so with Flock. When owners contribute their real estate to Flock’s portfolio, a new journey begins: one that has been carefully crafted to both relieve their pain points and provide tangible benefits for years to come. It’s a better way to sell and a better way to own real estate.
We’re fortunate to be backed by a great group of venture capital firms, including Andreessen Horowitz, Human Capital, Susa Ventures, Box Group, and Primary Venture Partners, as well as a large network of strategic investors, including 1Sharpe Ventures, Redwood Trust (NYSE: RWT), Fred Tuomi (former CEO of Invitation Homes), and Eric Wu (former CEO of Opendoor).
As Senior Legal Counsel at Flock, you’ll be the authoritative in-house expert to drive all aspects of the Company’s commercial legal efforts. Our core product, Flock Homes OP, is built on top of several complex legal and tax frameworks, and you’ll be an integral member of the leadership team guiding our strategy and working cross-functionally to implement best practices. You’ll play a defining role in our growth by protecting our Company, our owners, and ongoing operations, and take a business-oriented approach to problem solving.
Your primary responsibility will be ensuring compliant growth — you’ll work closely with Sales and Product to implement best practices and build a regulatory framework that is prepared for future examinations and inquiries. Additionally, you’ll also oversee the legal elements of all financing and real estate operations. You’ll work closely with the Capital Markets team to oversee the legal aspects of transactions and financings and work closely with the Investments team to oversee legal issues that arise from real estate ownership in local jurisdictions.
- Oversee all legal aspects of Flock’s legal initiatives, prioritizing Flock Homes OP’s legal compliance and regulatory considerations
- Develop a framework to prepare Flock Homes OP for future regulatory registrations and examinations
- Serve as the in-house expert on tax considerations specific to the in-kind contributions to Flock Homes OP
- Review fund registration statements and other regulatory filings
- Advise on debt and equity financings for both the Company and Flock Homes OP
- Address legal issues that arise from owning and operating real estate across state and local jurisdictions
- Provide general business counsel, corporate governance, and securities advice
- J.D with 6-10+ years’ relevant experience as a practicing attorney in the financial services industry with intricate knowledge of fund operations
- Deep and broad knowledge of securities laws, regulations, and practices; knowledge of broker-dealers, investment advisers, and investment companies a plus
- Background in real estate, including transactions, financings, tax, and operational considerations
- Excellent analytical, writing, and oral communication skills
- Ability to work cross-functionally across the organization and manage myriad of external counsel relationships
- Ability to be successful working at times within tight deadlines and timeframes
- Ability to work independently and handle multiple tasks
- Strong sense of ownership and a commitment to excellence
- Exceptional judgment and integrity, adept at making smart decisions in the face of ambiguity and imperfect information
- Flexible, adaptive, and always open to learning something new
The annual salary range for the target level for this role in NYC is $150,000-$250,000, target equity, and benefits (including medical, dental, vision, and 401(k).