Investors, many times, enter the real estate investing business with little, but increasing, confidence. During the stages when an investor is seeking to invest in real estate, purchase their own investments or unload investments, there may be times when the investor run out of ideas. This has also been known as writers block, having a brain fart, or simply being at a loss of ideas.
Here is one of my favorite and greatest ways of opening my creativity box and extending what I think is possible. This can be used in real estate but may also be used in any facet of life. It is a simple but very effective task. I have personally used this idea to create new financing ideas, find more properties, open my potential closing and sale opportunities, and much more.
The idea comes originally from Bryan Tracy, a public speaker. Here is how it works:
Write a question. This can be any question but usually begins with the word “How”.
For example: I may write the question: “How do I market to my prospective sellers without any money out of my pocket?”
Answer the question twenty times. This may seem simple in the beginning but this format is intended to stretch your imagination beyond what you can currently see.
Remember, no answer is a bad answer. This is simply a brain storming method to get your creative juices running.
Here is an example of how this may look:
How do I market to my prospective sellers without any money out of my pocket?”
Look for a marketing grant.
Partner with other people that pay for marketing and co-market.
Pay for marketing after a deal has been completed.
Do door to door marketing.
Use services, such as a library, that can help create the marketing
Taking the time to answer all 20 questions will give you ideas you may never have thought of and likely ideas others, like your competition, have not discovered.