Wayne Palmer is an artist and a creative genius. However, his creativity is not seen in a painting or heard in the harmony of a song. Wayne's creative genius comes from seeing what cannot be seen: putting a deal together out of the invisible and creating a financial masterpiece.
Wayne is really an alchemist, taking different disciplines such law, taxes, marketing, and design and transforming them into exceptional real estate investments. In other words, it is not the building or the raw land that is the investment. It is the ability to create value out of the elements and forces that surround real estate that gives Wayne his advantage.
Wayne's mastery of creative financing can't be fully described; it must be experienced. As you study Wayne's three chapters in this book, you'll begin to see what I mean by that. You'll begin to understand the difference between Wayne and the rest of the world. Wayne can see a way to make a deal work in less time than it takes most people to pick up a pen and sign their name. And his often simple solutions to financing problems will leave you asking, "Why didn't I think of that?" He has a rare gift that maybe he was born with, and that his lifetime of experience as a real estate developer, certified real estate note appraiser, certified cash flow master broker, and licensed continuing education provider has certainly honed. Wayne is one of kind, and he presents to anyone reading this book an opportunity to see the world of finance in a way that you've never seen it before.
Wayne is a man I trust. If a person is going to be creative, it is imperative that he or she holds him or herself to the highest of legal, ethical, and moral standards, which is Wayne's true strong suit. While he is always pleasant, enthusiastic, and speaks with a smile, his graciousness does not interfere with his straightforward candor. He will tell you what he thinks, even if it means saying that he thinks the deal stinks or that the person representing it is either incompetent or of shady character.
The beauty and power of real estate investing is found in the scope of creativity each property affords the investor. Whenever I am at a dead end, brain dead, and in need of a shot of creativity, Wayne is the person I call.
I sat staring at the envelope with the anticipation of a youngster on Christmas morning. Seeing the title company logo, I had a pretty good idea of what was inside. After months of patient teamwork, the escrow had finally closed. It had required our best collective skills to complete the transaction. I felt a vibration that I knew was part steel on paper and part the tingle of adrenaline as the letter opener glided through the cotton bond. I carefully reached in and removed a single document and unfolded it. It was a proceeds check made payable to my company for $1,175,206.16.
As I paused to savor the victory, my mind wandered back over my thirty years in real estate. How had we come so far? I remembered days in the distant past when lunch money was hard to come by. What was so different about then compared to now? Why was it so relatively easy today to make a million dollars on a single transaction while it had sometimes seemed so difficult to make a living years ago? As I breathed in the magnitude of the moment, one word came to mind, and it wasn't the economy or boom times or anything about having more money. It was simple: formulas.
The word "formula" is rarely used in the real estate industry. We hear about formulas in math and chemistry, but not in real estate. What could a cluster of numerals and digits, strung together with mathematical operatives, possibly have to do with making money? I smiled at the thought, realizing how few people in real estate understand the power of one good formula. I noticed a wave of gratitude flood over me. I felt so lucky to know the formula that had proven to be worth a million dollars.
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