Spot on.
Some top players get into the club via free transfers because they have always "dreamed" of playing for the greatest club in Europe and in case the time to sell them comes, Real Madrid makes good money because they mostly sell the player when he is still good.
I noticed they haven't been so haste in signing expensive players like they used to do in the Galactico era. Everything is about timing and patience thanks to their President Perez.
Exactly they smartly attract top players sometimes even for free because these players dream of joining such famous club. This lets Madrid get world class talent without spending much at first and then they sell these players for good profit while they are still playing well. This shows their great long term planning. You also rightly noted that President Florentino Perez has made them more patient and strategic focusing on good timing to buy players which helps them stay financially stable and at top of European football.