Chief Executive and Co-Founder at Wentwood
January 1996 – December 2003
Start-up property management and construction company that was spun off from Graewood Capital Partners, LP (1996 & 1997) and that grew from 2 to 240 employees. Divested company of Property Management and Construction Divisions to form Mission Housing and Madera Construction. Led company through annual strategic planning and day-to-day activities. Participated in after-action review and analysis of real estate acquisitions, including profitability, spin offs, future acquisitions and lessons learned. Oversaw draw process, monthly accounting payment and contract revision approval. Drove internal technology initiatives to streamline, redesign and automate operations and workflow. Selected as beta tester for property management web-based cutting edge industry software. Held P&L accountability with 6 direct and 234 indirect reports.
• Achieved average gross margin of 24%, including a start-up year loss, with gross revenues averaging $1.5M per year for six years.
• Took start-up from 5 to 24 properties in 7 states by focusing initiatives around team of turnaround employees who took over and managed properties quickly in any U.S. city – in 48 hours or less.
• Cut employee annual churn to 46% with industry average above 100% by initiating Team Member programs, including 401K, long term disability, performance bonus system, Work from Home program, and family health coverage.