Chapter 13

Paul Roman enjoyed teaching Jason about the property business. To Paul, most of that enjoyment was that he felt he was passing the torch to Jason by giving him his knowledge on how to go about purchasing properties. Jason was a sharp kid and Paul only needed to explain something once to him and Jason would retain that knowledge. There still were things for Jason to learn, but the experience he would garner from doing this work would now be his primary teacher.

Paul was spending the majority of his time looking for and finding properties on the East Coast. When asked about that he said he was purchasing properties there as it was a growing area with people leaving New York and its surrounding area. He said these properties he was purchasing would be appreciated in the coming years. The properties he purchased were not solely around Columbia, South Carolina but were located in the five-state area that ran along the East Coast.

He never volunteered the predominant reason for him spending this time on the East Coast was the relationship he had developed with Debbie. He was spending many a night in her bed and was enjoying her company. The work they did was a common thread in their relationship, but their age and wanting or needing companionship were the primary reasons for their being together. The sex they had and enjoyed, further contributed to their wanting to be and spend time together.

While Debbie’s work as a realtor did result in Paul purchasing properties, the great majority of the properties he purchased were without a realtor’s involvement. That was because purchasing these large business properties was not like the average home purchase where the realtor would earn a five or six percent commission. When you are dealing with large commercial properties and are paying millions of dollars to purchase them, a realtor’s commission for the sale can amount to a considerable amount of money and reduce the profit that was gained from the property’s appreciation. The seller normally does not want to have a realtor involved and makes the effort to sell the property through their efforts alone to avoid paying a realtor commission.

How that happens is that the seller lets it be known that the property is for sale and does this by posting a listing on the web. There are several sites on the web where this posting is done that interested buyers can peruse to see these posted listings. If they are interested in purchasing that type of property the buyer deals directly with the seller and avoids paying a realtor’s commission. If a listing for sale does not draw interest over time, the seller may turn the property over to a realtor who works on a lower albeit negotiated commission.

The realtor will work for this lower commission which still is substantial, in the hopes that their efforts will not only result in a sale but will also result in the realtor either retaining or securing the business of managing the property. The monthly payment realtors receive for managing certain types of properties can be a considerable amount. Successful realtors have developed over time a list of buyers who are interested in purchasing commercial properties.

Setting his work aside, which was going well, Paul thought his relationship with Debbie was going even better. He mentioned to her the company benefit that was available to vacation at a house in Orlando, Florida. He asked her if she would want to spend a week there with him. She responded by saying that she would, and plans were made for them to do that.

Paul had kept in touch with Dan Boyer his boss at his prior company by periodically exchanging emails with him. Dan said the large REIT that bought them out followed what they had done previously and asked all the employees to write an evaluation of themselves as to why they should continue to be employed. Dan said that did it for him and he took early retirement and moved to Las Vegas to be closer to his daughter and her family. He said he had been offered the position of managing a large condo complex in Las Vegas which he accepted. Dan also said that if he becomes aware of any properties up for sale that Paul could be interested in, he would let Paul know.

It was somewhat ironic that Paul received a phone call from his prior employer some eight months after he left and had gone to work for KAR Enterprises. The phone call was from Gary Rankins who worked for his former employer in the HR department there. Gary asked Paul if he would consider coming back to work for them.

Gary had always bothered Paul a little in that he always seemed to have an “I am better than you attitude.” Paul took the time to explain that he had the sole authority to approve multi-million dollar purchases and didn’t need many approvals to do it as he did where he previously worked. Further, he mentioned the bump in pay and the benefits to include the use of the house in Orlando.

Paul finished his discussion with Gary by saying, “Now why would I want to leave all this and work for a company that treats its employees like shit?” Those parting words ended the phone conversation.

This week in Orlando was a rewarding week for Paul. Debbie’s companionship and lovemaking were the main reasons he felt that way. It was also that Debbie knew a realtor who worked in the area which also contributed to Paul feeling that way.

Debbie had phoned Carolyn Hagel, who was a realtor and a personal friend. She made a dinner date for her and Paul to have dinner with Carolyn and her husband. The Hagels were good people which made for an enjoyable time. Carolyn asked Paul what he did for a living and was surprised to learn that he represented KAR Enterprises and purchased business properties.

In the course of the conversation, Carolyn mentioned that she was aware of a twenty-eight-unit apartment building that was up for sale in the Orlando area. She said she would like to purchase it but didn’t have sufficient funds to do it. Carolyn said she had run the figures and after the bills were paid, this would be a cash-flow-positive property investment. After a few years, with the expected appreciation, she said consideration would be given to flipping it.

After getting more information on this building, Paul said he would like to check it out. If it was as good as she said it was, he would invest in it, going fifty-fifty with her. This was an investment that only he and Carolyn would be involved in and not KAR Enterprises. Since it was Carolyn who was aware of this property to start with and wanted to invest in it, Paul thought there should not be a conflict of interest for him at work to invest in it because of what Kevin had once said.

Paul did check out the building with Debbie. They both agreed this would be a good personal investment. He phoned Carolyn telling her he was in on purchasing this apartment building. He confirmed he would go fifty-fifty with her in making this purchase.

The forthcoming purchase of this building caused it to be both an enjoyable and profitable week that Paul had with Debbie in Orlando. She was heading back to Columbia and he was going back to Austin. There was a little kiss and a long hug they shared at the airport. He watched her walk to the TSA checkpoint having some nice thoughts about her before he turned and walked to his TSA checkpoint.

Back in Austin at the office, Paul had a little talk with Jason about the week he spent at the company’s house in Orlando. He mentioned some of the sites he visited and recommended to Jason that he reserve some time to vacation at this home. Paul didn’t mention Debbie was at the house with him, nor did he mention going into partnership with Carolyn in purchasing an apartment building. He in his mind could justify that there was no conflict of interest in purchasing this apartment building but others could have a differing opinion and he did not need the hassle of explaining why it wasn’t.