How to Create, wealth, success..... - Posted by Mark R in KCMO

Real Estate Investing
1

Posted by J.P. Vaughan on January 09, 1999 at 19:40:20:

Mark,

Thanks for a great post. The only thing I would add is this:

People come up with creative ideas and solutions because
they have information floating around in their brain.
In other words, they have tools in their tool kit.

Those tools are called KNOWLEDGE and EDUCATION.

John Beck and I were talking about this very thing just
yesterday. The more tools you have, the more ways you
have to put deals together. If the only thing you know
is lease options, for example, the only thing you can
do is lease options. What happens if you’re in front
of a super motivated seller who has a lot of equity and
a lease option won’t work? If all you know is lease options,
I guess you lose the deal.

What beginners need to understand is the absolute necessity
of eduacation. You need ALL the tools you can gather so
you can put ANY deal together.

Let me give you an example. When we bought a bunch of
houses from a HUD auction as “all cash” buyers, we did
not know how we were going to close those deals. We
DID know, given our background and experience, that we
WOULD close the purchase one way or another.

As Terry and I were chatting on the drive home, an idea
“popped” into my head. “Why don’t we just create our own
mortgages,” I said. And that’s what we ended up doing.

I had never done that before. In fact, it never occurred
to me before. But all the information from the real estate
and paper books and courses I had consumed over the years
was floating around in my brain. The solution “presented”
itself. Like MAGIC. Ideas can pop into your head when
you’re not even thinking about them. But you have to
lay the groundwork so your wonderful mind can put some
creative ideas together for you.

It’s really amazing when you think of it. That’s why
we always say, “all problems create opportunities.”

JP

2

How to Create, wealth, success… - Posted by Mark R in KCMO

Posted by Mark R in KCMO on January 09, 1999 at 18:14:10:

There are manny posts on this site where people are asking about the different methods to do one thing or another, I know I have asked those same questions here myself.

It has taken me a while but the real answer is just now coming into focus that the way to be successful in this business is by being creative.

I was always looking for this method or that method.

Being creative is just as much a skill as riding a bike or walking. it isn’t an elusive concept that is locked away behind the door only accessible by the “Elite”.

As many times as it is said here, this really is a site about creative thinking tied to the subject of real estate. I feel when you look at these posts and change your perspective to that of a problem solver the addtional information that are inside these posts will instantly begin to pop out and clearly enter your mind.

I like to find answers by coming into the problem through the “back door”.

one of my favorite problem solving method is to make a list of 25-50 solutions regardless if the probabblity of success of these solutions or the praticality of them.

Creating new Solutions, by association is another method of thinking. You first think of an object which is similar to the what you are wanting to do, then continue the “chain” of associated thoughts until new and useful ideas emerge.

For example if one of your problems is funding, think of the ways that you could do deals and solve sellers problems if money were no problem, then look at your solutions and see if they can be done without money.

If finding properties seem to be difficult for you think what you would do in the situation if you had more properties than you knew what to do with, how would you solve your problem.

By placing your mindset in a situation that is 180 degrees out of whack of where you are you are forced to find soultions that will tell you where to find the exact people that you are wanting to find.

Plain old fashioned “daydreaming” is another method of creative thinking.

Make up a fantastic story in your mind and try to visualize (dream) your way to a successful conclusion based on what results you are trying to achieve.

By breaking it down to size you can solve it in segments. Don’t try to override your mistakes. Recognize them and bury them so they will help, not hinder, your progress toward your creative goal.

Don’t further confuse the issue by doing so much study and research that there are too many roads to take.

Of course attending Conventions like the one the JP is offering is an excellent tool to get those creative thoughts going and growing.

There is a great deal of difference from Creating wealth and earing a large income.

It is best to create profits than to simply earn them.

Yea, you think that I would have caught on sooner after all this is the Creatvie Real Estate Online site. My mind failed to focus on Creative.

Hope this helps

Mark R in KCMO

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Printed and pasted it on the wall! - Posted by milNC

Posted by milNC on January 09, 1999 at 20:48:01:

Nice, concise. A good exercise plan for creative thinking. Thanks. Loved it.