Division President, CFO, Real Estate Asset Management
MICHAEL NEW
DIVISION PRESIDENT/ VP OPERATIONS
Commercial and Residential Real Estate Investment & Development / Budgeting and Forecasting Asset and Portfolio Management / Financing & Investments / Turnarounds and Startups
Blend operations and business expertise with financial know-how to drive growth in expansion, start up and turn around environments. Embrace and apply cutting-edge technologies to capitalize on new opportunities that increase profitability, improve operations, and control costs. Develop and implement innovative marketing strategies.
• Developed and managed over $150,000,000 of profitable residential and commercial real estate projects.
• Grew InVision Homes from zero to $25M in revenue with net after tax profits of 11% per annum.
• Designed and implemented data management system, increasing profit at DirectBuild by 18% per sale.
• Generated 43% ROI for Trilogy Holdings, a real estate development firm.
Key Skills: 20 years of commercial and residential real estate asset management. Planning and managing complex assignments to meet demanding deadlines. Leading organizations to identify and exploit business opportunities to produce a continuous stream of profitable initiatives and cost reducing measures. Building teams with a clear sense of purpose in pursuing top and bottom line revenue growth.
BA, Business Finance and Accounting, California State University Chico 1993. NASD series 6 & 7 securities license-inactive; Real Estate License-inactive; Colorado Class B Contractor’s License-active.
Selected Accomplishments
Developed and managed over $150,000,000 of profitable commercial and multi-family real estate projects. Secured debt and equity financing for residential multi family and commercial portfolios. Developed strategic business plan, estimation, purchasing and project management.
Grew InVision Homes from zero to $25M in revenue and sold for a profit during a down market. Created and implemented innovative systems for performing commercial and residential construction and development. Delivered after tax net returns of 11% per annum with industry standard at less than 4%. Sold name and systems in 2007.
Designed and implemented data management system, increasing profit at DirectBuild by 18% per sale. Documentation process was cumbersome and costly. Collaborated with software and intranet provider to design an intranet based system for communications as well as a library of marketing materials, franchise compliance documents and operational manuals. The new system saved time and reduced costs on each franchise sale.
Decreased warranty costs 25% at InVision Homes by implementing building standards. The company was experiencing differences in quality and warranty callbacks depending on the project manager. Used a "manufacturing" mindset in developing a standardized system for home building to produce a quantifiable outcome.
Career History
CFO, DirectBuild Franchising, 2005 to present. Manage projects with budgets totaling $78M and 150 people through eight direct reports for this home building consulting franchise. Perform strategic business planning, cash flow management, technology development, financial modeling/planning and risk management, investor and banking relations, land acquisition contract negotiation and management, marketing and advertising.
President and CEO, InVision Homes, 1996 to 2007. Managed six direct and 325 indirect reports in all aspects of land acquisition and commercial development, realizing average net profits of 11%. Grew revenues from $0 to $25M per year. Negotiated and secured debt and equity financing and established cash/risk management systems.
President Land Aquisition, Trilogy Holdings, 2003 to 2007. Managed $150M budget and 25 employees through four direct reports. Managed multi-functional team of professionals. Responsible for project selection, due diligence and exit strategies of multiple real estate developments both nationwide and in Mexico.
Investment Manager, Prudential, 1993 to 1996. Developed, reviewed and implemented personalized investment strategies for a $56M book of individual and business clients resulting in average yearly returns of 12.3%.
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