Chapter 7

I drove back to my place. I called the maid service and asked for a clean up that afternoon. I logged on and checked my e-mail. I had one from my business manager so I picked up the phone and dialed his number.

"Hey Bob, this is John. How are things going?" I asked.

"I just sent you the e-mail concerning the deal in Phoenix, actually it's in Scottsdale. It seems that one of the potential partners had to back out and they need some new blood," he said.

"What are the details?" I asked.

"They need $15 million to complete the consortium. That will get you fifteen points plus a voting position on the Board. They estimate the pay back to be five years," he explained.

"Who else is involved?" I asked.

"Two PGA members, one real estate developer, and one Hollywood actor are on the Board," he replied.

"Who will be the managing partner?" I asked.

"James McKenzie, the real estate developer, is the managing partner. And before you ask, he has a good track record. All but one of his ventures has returned the investment on schedule," Bob said.

"It seems like you have done your homework. How much of this do you want?" I asked.

"I'm coming in for $500,000. It gets me half a point. The estimated profit margin is 20% at five years. That's about 4% per year. This project could go as high as 30%," Bob said.

"You know this is the biggest leap yet, but I trust your judgment. One last question, what about the land itself. Who's contracting the building and what are the restrictions?" I asked.

"The builders will all be local and the criteria will be a minimum of $150 per sq. ft. after land cost. There will not be any multifamily dwellings." Bob continued, "Overall, it will be targeting the $1,000,000 plus crowd. The golf course is being developed under another plan. They already have all the investment capital they need."

"Okay, have the attorney look at the prospectus and if he gives the thumbs up, go with it with one stipulation. I get at least the fifth choice on lots after the other principals. I don't want any under the table promises to any others prior to my choice. Let me know when it's done," I concluded. We said goodbye and hung up.

Well, that didn't hurt. I just committed $15 million in a ten-minute conversation. I figured that just the contacts this would bring would be worth it.

My phone rang again. The caller ID showed it to be Steve.

"Hey there, what's up?" I answered.

"Two things, first... You da Man! I would have never figured you'd score with that honey. The second... is not good. Jerry got pulled over on the way home last night and was arrested for DUI," he said.

"Damn, is he okay? Has he been released?" I asked.

"No, this is not his first and they set a $100,000 bail. Man, that's $10,000 to the bail-bondsman. Jerry doesn't have that kind of cash and neither do I," Steve said.

"Relax, we'll get him out. Does he have an attorney?" I asked.

"Not yet, the attorney he used on his last case left town," Steve sounded so down.

"Where is he? County or city?" I asked.

"He has already been transferred to the county jail," he said.

"Stay by the phone and I'll call you back," I said and then hung up.

My next call was to my attorney. That sounds so weird for me to have an attorney and not being in trouble with the law. I gave my attorney instructions to represent Jerry and bail him out of jail.

I got a phone call back in five minutes from my attorney who told me he started the release procedures. Jerry should be out in about an hour.