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Executive Resume
Michael A. Grant, C.P.A.
P.O. Box 1744 Shingle Springs, CA 95682
Phone: (916) 628-4663 Email: [email protected]
Leadership Profile
Executive Operations Leadership, Strategic Planning, Financial/Budget Management, Contract Negotiations,
Strategic Alliances, Banking/Investor Relations, Mergers/Acquisitions, Team Building, Training/Motivation
Results-oriented financial/operations executive with a documented record of startup and turnaround performance.
Unique blend of skills and abilities in operations, financial analysis, financial reporting, feasibility analysis, due
diligence, acquisition negotiation, staff training, staff motivation, and supervision. Progressively responsible positions in
both private and public companies, including day-to-day operations management, budget preparation and maintenance,
cash flow analysis, and projections, debt, equity and off-balance-sheet financing, overall P&L responsibilities, and
strategic planning. Highly skilled negotiator and problem solver in analyzing situations and implementing process
improvements for bottom-line profitability. Expertise in managing companies in high-growth or crisis situations.
Grew a small custom home-building business from annual revenues of $3.9 million to $36.5 million in four years with a
corresponding increase in gross profits from $264,000 to more than $8.8 million, as illustrated below:
Increased Revenues and Profits
$40
$10
$35
$9
$8
$7
$25
$6
$20
$5
$15
$4
Millions
Millions
$30
$3
$10
$2
$5
$1
$-
$Year 1
Year 2
Year 3
Total Revenues
Year 4
Year 5
Gross Profits
Professional Experience
Green Barn, LLC and Creative Concrete Products, LLC
President
Sacramento, California
2007 to present
Recruited to assist the Bay Area regional office of a large public homebuilder with the quarterly business plan update, the
net realizable value (NRV) adjustments to land costs for all of the Bay Area and Central Valley subdivisions, and other
special projects. Carry full financial and operational responsibility for Creative Concrete Products, a recent reacquisition—during the first two years of ownership, annual sales increased an average of 345 percent and the gross
margin increased 20 percent. Since its re-acquisition, sales are ahead of the same period in the prior year by 65 percent
and other labor costs have decreased by 45 percent. Currently building a new database to standardize pricing and add the
ability to quickly sort through literally thousands of products available to customers. Also currently designing a
marketing plan and marketing materials focusing on commercial customers.

Conducted lot-by-lot cost analyses and discovered reporting errors that impacted financial and business reporting;
corrected the errors and adjusted the financial statements for over $8 million in land cost errors.

Created a new Excel database proforma model which included the corrected lot costs, and added the capabilities for
NRV reporting and summarizing data on the fly for better decision making and reporting capabilities. The new
model was implemented for all projects throughout California.

Completed a proforma cash flow analysis that was used for negotiations with the home builder’s equity partner to
sell off their interest in a high rise condo project, avoiding a $6 million loss.
Michael A. Grant
Premier Homes Properties, Inc.
EVP, Operations/CFO
Page 2
Roseville, California
2001 to 2007
Developed and implemented strategic planning via the company’s first business plan and budgets for all areas. Integrated
a cash flow management system into the strategic plan to provide proforma data on all current and future investment
decisions. Directed all construction, land acquisition, forward planning, development, purchasing, computerized data
processing and information systems, finance, accounting, corporate and personal tax preparation and planning, and risk
management activities. Set up a reinvestment program that channeled all cash from operations back into the company,
providing the ability to carry large non-refundable deposits on several large construction projects. Changed the pricing
and sales methodology to incorporate a phased pricing plan with step-wise price increases in sales releases to ensure the
maximum sale price for homes.

Achieved record-setting closings and profitability each year. As an example, home closings increased from 30
homes in 2002 to 122 homes in 2005, a 307 percent increase. Net income before tax increased from $849,000 to
$7.4 million in 2004, a 772 percent increase.

Cultivated new banking relationships to provide acquisition, development, and construction financing of $250
million.

Built and maintained excellent working relationships with outside bonding companies, securing performance, labor,
and material bonds in excess of $80 million.

Created all offsite contracts for subcontractors, suppliers, and consultants to standardize insurance and indemnity
requirement compliance.
Standard Pacific Corporation
Controller, East Bay Division
Pleasanton, California
1999 to 2001
Carried full financial responsibility for all aspects of accounting, including general ledger, job costing, and accounts
payable. Assisted in the preparation and review of current and proforma projects for land acquisitions, forward planning,
purchasing, construction, and sales. Served as liaison between corporate headquarters and the division for cash flows,
strategic business planning, information systems, SEC and GAAP financial reporting, internal and external audits, and
financing transactions. Developed the first standardized proforma format for use within the division; the success of this
program resulted in it being applied to all divisions. Developed divisional software programs for use by operations in
construction scheduling, contract management, option sales coordination, and escrow tracking.

Prepared all business plans and directed all budgets for deliveries, gross profit, and net income before tax. The builtin accountability functions allowed managers to track performance and exceed sales, production, and delivery goals.
First-year net income before tax was $30 million and rose to $41 million the following year. The Northern
California operations constituted approximately 40 percent of the entire corporation’s bottom line income before tax.

Effectively managed divisional contingencies to report consistent consolidated Northern California financial results.

Completed an off-balance-sheet financing transaction with Acacia Capital for 550 lots in the amount of $48 million
in 20 days, 535 lots in Hayward for $110 million, and an A&D loan with Housing Capital for 183 lots totaling $32
million. No other Standard Pacific controller had ever had as active a role in project financing functions.

Initiated a quarterly performance requirement for all accounting staff to suggest cost-saving ideas, resulting in an
annual savings of more than $200,000.
Western Pacific Housing
Vice President/Controller, Bay Area Division
Pleasanton, California
1997 to 1999
Carried full financial responsibility for acquisitions, current projects, general and administrative expenses, warranty costs
and design center operations. Directed lot-by-lot budgets, cash-flow analyses (including anticipated closings, starts, and
accounts payable cash requirements), feasibility analyses for future acquisitions and audits of due diligence packages,
review of sales for compliance to projected results, and risk management functions. Set up a new accounting department
and completed the decentralization of processing all divisional invoices including the on-site processing of accounts
payable, internal and external budget preparation, and standardized divisional financial reporting. Reviewed divisional
subcontracts and consulting agreements and identified significant contractual weaknesses, initiated changes to and
implemented standardized contracts for future execution and drafted contract amendments.
Michael A. Grant
Page 3

Prepared the first-ever business plan by a division. Reorganized corporate reporting requirements to include an
annual business plan, a monthly business plan update, and general/administration expense reporting with variance
analyses. Successfully incorporated lot transfer costs into the corporate accounting method. Worked with corporate
consultants to provide cash flow downloads from the accounting system into spreadsheet business plan templates.

Implemented comprehensive reporting allowing managers to track performance and meet departmental goals. The
first full year of operations yielded $63 million in revenues and the following year’s projections were $83 million.
Summergate, LLC
General Partner
Sacramento, California
1996 to 1997
Directed the set-up of this newly-formed limited liability company to acquire and develop a previously foreclosed
property and build and sell 105 townhomes. Directed feasibility analyses, due diligence, equity and debt financing, and
acquisition of The Village at Summergate in Tracy, California. Provided leadership for all sales, marketing, purchasing,
accounting and administrative functions. Carried full P&L responsibility and budget maintenance of more than $12
million in revenues. Researched and purchased an automated accounting application that included a job-cost system,
which was fully implemented and running within 30 days of software selection.

Reduced costs by more than $350,000 by implementing effective competitive bidding techniques.

Prepared proformas and financial materials for the acquisition that resulted in a net profit of $2 million.
Richmond American Homes
Vice President, Finance
Rancho Cordova, California
1993 to 1996
Directed all state-wide financial functions including SEC financial reporting, bank financing, cash flow reporting,
strategic business planning, budgeting, proforma and market analyses of all acquisitions, evaluation of asset performance,
and presentation of results to board members. Monetized Northern California high cost properties and replaced them
with low-cost land under flexible purchase terms to manage risk in an unstable market. Completed the acquisition of
more than 1,900 finished lots.

Decreased northern division unsold home inventories from 60 to 10, an 83 percent decrease.

Reorganized the division and reduced general and overhead expenses 3 percent. The division returned to
profitability in the first quarter of 1996, the first profitable quarter since 1992.

Spearheaded the acquisition of investment properties yielding revenues from $50 to more than $140 million.

Acquired Mesa Homes from Kemper Financial for $20 million increasing the southern division’s revenues $100
million over the next four-year period with net profits in excess of $15 million.
Education/Professional Development

BS, Applied Arts and Sciences, specializing in Business Administration-Finance, San Diego State University, San
Diego, CA—1980.

Leadership Resources Management Development seminars—1998.

Toastmasters International Communication and Leadership Program 1998.
Professional Affiliations/Licensing

California State Contractors License, Class B.

California State Board of Accountancy Certified Public Accountant.

Home Builders Association of Northern California—1999 to 2006.

HomeAid Northern California Chief Financial Officer and Finance Committee—1999 to 2001.

American Institute of Certified Public Accountants—1984.

California Society of Certified Public Accountants—1984.
Key Accomplishment Summary
Michael A. Grant, C.P.A.
Catapulted Small Business Revenues by More than $30 Million
Situation:
Partners in a custom home building operation happened into a relationship with a commercial developer, building
production homes on various sites. This was something the company had never done before. They set up custom
financing and partnership agreements, resulting in an arrangement that was sufficient to provide a good profit for the two
partners, only building homes for one commercial developer. However, the homebuilding market was growing in leaps
and bounds and homebuilders were achieving tremendous profits and internal rates of return. Due to their lack of
experience in production homebuilding for anyone other than their one long-term connection, they were not able to take
advantage of these incredible market opportunities. It became apparent that expert assistance would be required to help
bring the business into a more proactive status; I was recruited for the task.
Action Plan:

Created the first strategic business plan to evaluate, run, and grow the business quickly to take advantage of
favorable market conditions.

Designed a game plan for performance of active projects, cash flows, financing and equity investment needs, future
staffing and other G&A requirements. Outlined specific strategies for future projects in various markets, lot
configurations, prices, locations, and product types for both residential and commercial markets.

Financed a 6,000 sq. ft. office building and leased half the footage to two tenants, covering the debt and equity
payments. This effectively reduced monthly rent expense from $36,000 annually to zero, allowing the owners to
capture the upside value increases in the building and gain significant tax advantages.

Leveraged personal networks to acquire properties for new projects from landowners.

Initiated training for management personnel with little or no homebuilding or construction experience.

Key player in upgrading and implementing the company’s business software and training for its use, resulting in an
annual savings of $100,000 in staffing and increased accuracy in billing and financial reporting.

Built strong working relationships with multiple financial institutions to finance projects.
Results:
The talented associates brought into the company came with excellent industry contacts that were leveraged to build a
reputation and brand. Utilized an effective system of debt and equity to purchase land for projects and pay loans in a
timely manner. The end result was a quick growth plan that had a diversified real estate portfolio that not only provided a
monthly cash flow but also reduced the reliance on outside and costly borrowed equity and debt funds. Grew the
business from annual revenues of $3.9 million to $36.5 million in four years with a corresponding increase in gross
profits from $264,000 to over $8.8 million.
Key Accomplishment Summary
Michael A. Grant, C.P.A.
Created “Fun” Program to Slash Costs
Situation:
A division of a large home building company (SP) had no standards for the purchase and quality of items to be used for
department uniforms, prizes, gifts, and other giveaways. Both the warranty and construction departments were required
to wear company-issued shirts in the field to be easily identified by homeowners and to promote a united, team-oriented
dress code. Each department ordered its shirts separately from different vendors and did not order the same types and
qualities of items. While both departments kept costs down on a per-item basis, one was very good at playing favorites
with employees who would help them out, having a seemingly endless supply of items, while the other department always
seemed to be out of shirts, hats, and other items. Another department, this one not required to wear company-issued
apparel, began ordering expensive items for themselves. Other departments were left out, fostering jealousy and poor
employee morale. There were also no budget controls in place to curb costs.
Action Plan:

Met with the VP of Sales and Marketing and created a restricted list of items of specified quality, design, and cost
(shirts, jackets, hats and other “SP Gear”) to become standard issue.

Consolidated the order process and negotiated with selected vendors to obtain preferred bulk purchase prices.

Created company currency that could be used for employees to purchase SP Gear. The CEO’s name was
Scarborough, so the currency became known as “Scar-Bucks.” Different denominations carried pictures of company
officers. Special measures were taken to make these Scar-Bucks safe from forgery.

Department managers were issued an allotment of “reward” Scar-bucks to be given to employees for excellent work
or for work over and above the call of duty.

Implemented an annual uniform allowance for the departments required to wear company apparel. Remaining
employees received a much smaller allowance. All employee allowances were distributed in Scar-Bucks.

Created a “company store” that used a catalogue for ordering items. Payments for items were made with ScarBucks, whether allotted for uniform allowances or earned as rewards for high performance. Company items could
also be purchased from the catalog with U.S. currency.
Results:
In the first year, the cost of SP Gear decreased by more than $50,000. Providing standardized allowances for both
uniform purchases and employee rewards effectively constrained spending. Putting all ordering responsibility in the
hands of one person from selected vendors ensured the consistency of quality, design, and low cost. The company store
concept was well received by the employees as being a fair, consistent way of obtaining SP Gear, eliminating jealousies
and infighting among employees.
Key Accomplishment Summary
Michael A. Grant, C.P.A.
Boosted Gross Profits by $6 Million without Breaking the Bank
Situation:
A custom home builder got a late start in trying to take advantage of a historic bull housing market. Since they had just
begun their production home building on a large scale, all the company’s cash had been used to fulfill the equity
requirements of a 95-lot subdivision in Sacramento County. A new opportunity surfaced for 49 lots in the Roseville
market that the company wanted to take advantage of but had no cash to purchase the property.
Action Plan:

Negotiated a purchase contract with the land seller. The home builder agreed to pay for the raw land value of the lots
up front and then pay for the development of the lots monthly as progress was completed through a construction
draw process.

Developed relationships with two lenders. One lender was in first position at 50 percent loan to value and the second
lender drew up a second deed of trust to achieve an overall 95 percent loan to value. This left only 5 percent cash
that was needed for the land acquisition equity.

Broke up the 95-lot development into separate, complete phases so that the increase in values on the lots and
resultant equity would be accelerated. It also assured the bank that its commitment to the homebuilder as a new
borrower was not too large.

Leveraged the equity built up at the Sacramento development and applied it toward the 5 percent equity required for
the loan at the second project in Roseville. By the time the construction loan equity funds were needed, the
increased equity at the Roseville project would be enough to support the construction loan without additional cash
being required.
Results:
Within three months, a $1,570,000 loan was secured for the acquisition of the 49 lots in Roseville. Concurrently, a
$6,940,000 development and construction loan was recorded with the first lender for the development of all 49 lots and
home construction for the first 15 homes. The appraised values for the Sacramento project had come back with enough
room on the 95-lot equity to pay for all of the equity required in the Roseville project. The company had acquired the
Roseville subdivision with no cash down. This new acquisition generated more than $6 million in gross profits following
its build-out and sale of homes.
Executive Insights
Michael A. Grant
Keys to Effective Strategic Planning
Write it Down!
Every business benefits from having a written strategic plan—a blueprint or roadmap to success. This is the critical step
in weathering a storm or taking advantage of favorable market conditions. This is a living, breathing document that
continues to adjust with the actual performance of every aspect of the organization. This is the document that tells you
what the financial statements alone do not. This is the steering wheel with which to constantly assess and direct the
company in the direction you desire, staying clear of the rocks—the place where it all comes together.
The “Plan”
The strategic plan consists of a number of different sections. The first section is what I call the “plan.” This is the
business plan that is determined typically in the fourth quarter of each year and serves as the document that never changes
throughout the following year. It includes narrative about market factors, an inventory of current product strengths and
weaknesses, competitive factors, staffing plans, and goals and objectives. Actual monthly and quarterly figures are then
compared to the plan and significant variances noted.
The “Forecast”
The variances between the actual financial figures and the “plan” track the company’s performance and create the
“forecast.” The goal is to align the plan and the forecast, with as few variances as possible. This would suggest that each
of the underlying departments are performing and budgeting correctly and that their input and expertise can be used to
take on additional work. Cash flows become much more predictable, allowing the finance department to negotiate
excellent financing terms or invest excess cash to reduce the cost of money and improve overall profitability. Owners,
investors, bankers, analysts and others reward companies not just on their performance, but also on their predictability.
Budgeting by Department
A significant amount of time should be spent training department managers to complete the budgets for which they
become responsible, creating accountability. These budgets roll up into the plan and forecast and contain not only total
budgets but also amounts to be spent or revenue generated by month. This might include the number of product units to
be sold, projected product mix, and average sales price for each product. Some budgets will be very conservative and
some will be very aggressive.
Managing Contingencies
The strategic plan serves as a tool to address how much real contingency is needed in each critical area based on the risks
associated with the budgets. If managers put large contingencies in their budgets, the combined results would be easily
achievable but may make the overall company unprofitable or will skew results so that future work is bid and lost because
costs are too high. On the flip side, if the manager’s budgets are too aggressive the company may not fully understand its
costs for future work and become unprofitable. The wise financial leader will train managers how to prepare their budgets
and manage their contingencies for the company’s benefit.
Overhead
Overhead accounts can be difficult to address in that they typically cross all department boundaries. One of the ways to
make the biggest impact is to first arrange the budget totals in descending order. You may find that you can save a large
dollar amount on the overhead budget line items by initially focusing on the top five items, then working your way down
the list. Usually, the largest expenses consist of wages and benefits, facility costs, taxes and insurance. An underlying
plan of attack to cut costs for each of these is necessary to come up with a good budget.