Why are you in business? It’s an important question. Perhaps the ultimate question! A mentor of mine taught me a long time ago that knowing “why” is one of the most important things when it comes to getting positive results long term in your business.

• Are you in business to make money?
• Are you in business to help people?
• Are you passionate about working with people one-on-one?
• Is your priority simply doing something you love and having control over your schedule?
• Is real estate your passion…do you just love being in and around property?

These, of course, are just a few of many possible answers, but you get the idea. This post is about using leverage to sell more and take your business to the next level, and knowing the answer to WHY you’re in business in the first place is a key element in knowing how to implement leverage. Here is a question that illustrates the power of leverage:

Which Would You Choose: $250 or $5000?

This is a question I had to answer for myself a few years ago, and I went with $250. Think I’m crazy? Read on…

Since then, my business has been completely different, in very good ways. This may seem counter-intuitive on the surface, and I will admit it represented a very new way of thinking for me at the time. But in retrospect, it’s uber-simple.

By learning to look at my business in a completely different way, I’ve freed up a ton of my time and dramatically increased my income. I did it by employing leverage to sell more, and I encourage you to look at the possibilities of doing this as well!

I’m going to give you some key leverage opportunities that you may be overlooking in a minute, but for now, let me lay some groundwork on WHAT leverage is…and WHO should use it (it’s not for everyone).

An Example of Leverage: Why I Chose $250 over $5000

I personally do not have a passion for selling real estate. I don’t like showing homes. It bores me to tears! I love negotiating deals, and I love owning rental property, but I don’t particularly like hand-holding timid and jaded buyers through the buying process…that type of thing. In other words, I’m just not a great real estate agent!

This personal paradigm is one of many factors that led me into internet marketing. Internet marketing has taught me how to generate leads, and then I connect interested buyers and sellers with agents. And I earn a commission on closings. I still sell on occasion, but for the last 3 years, I’ve been doing internet marketing full time.

One of my friends in the business still doesn’t understand why I do it this way. He argues with me and says “Man, why do you refer a lead out and take just a few hundred bucks? Just sell it yourself and earn the whole commission!” He doesn’t seem to understand that time is limited! It’s about leverage!

If I refer a lead in 5 minutes and make $250, is that a WORSE deal than working with the client myself for 100 hours to make $5000? If you do the math you’ll find that the first scenario is about $3000 an hour, whereas the second scenario is about $50 an hour. See the difference?

Which one would YOU rather make…$250 or $5000? Which are you making NOW? Most real estate professionals are all about the $5000, and there’s nothing wrong with that, but it has limitations. Many real estate professionals struggle with these limitations, and leverage is what gets you past them.

There are Huge Opportunities…Right in Front of You!

Going from $50 an hour to $3000 an hour…that’s leverage. But using leverage and identifying opportunities like this usually requires you to look at your business in a completely new way. It requires you to change some things and even take on a little risk. Are you in a position where you’re willing to take on the risk? Do you even want to?

If you’re perfectly happy in your business, then the truth is there is no need to change. But few people will have read this article to this point if they’re perfectly happy in their business! If you want to take your business to the next level, I encourage you to seriously look at the leveraging opportunities at your disposal. Believe me, there are plenty…especially for real estate professionals.

So Why are You in Business?

Many professionals believe that in order to provide value…in order to have things done right…they need to do things themselves. In some cases, this is true. In most cases, it’s not. In most cases, a lot can be delegated. Delegation is the route I’ve decided to go. I wouldn’t say what I do is perfect…far from it, and I’d hardly argue one path is right for everyone.

But I do know that a lot of real estate professionals are grinding out their days, wondering how to make more money…wondering why they’re not getting the sales results they want…wondering how to have more time with their kids. Things like that. And I know, for a fact, that there are answers.

How can you have more time? How can you make more money? How can you help more customers and clients? The answer is leverage!

Fair warning…using leverage MIGHT separate you from what you truly want to accomplish in your business. That’s why I started this post with the question “Why are you in business”? It really is important to know why. This post is about using leverage to sell more and take your real estate business to the next level. It’s only one of many solutions to fixing problems in your business, so it’s not an all-in-one-fix-everything-cure-for-anything-that-ails-you!

Are You an Artist or a Producer?

There’s a way to know if using leverage will help you or hurt you. Here’s how you know: If your passion and love for your business centers around working with clients one-on-one…if you’re the type of professional who gets energized by showing 27 homes to a new home buyer and walking them through the buying process, then you are the type of professional that I refer to as an “Artist”. You love the actual craft of working with people, and that is a beautiful thing. You are most likely a great agent. You most likely make a strong connection with your clients, and they probably love you and send you more repeat business than you can handle. That rocks!

If you’re an Artist, implementing the leverage principles that I’m about to convey will likely bore the daylights out of you! And they probably won’t help solve your problems. Reason being, these techniques will separate you from what you love most about your business…working with people one-on-one.

For the “Artist” practitioner who may be struggling with their sales or schedule, etc…a different type of solution is necessary. A topic for another post.

For today, there are real estate professionals who I refer to as “Producers”. Get it? It’s a reference to the music industry. Artists and Producers. The Producer is an invaluable part of the industry as well, but the Producer approaches the business from an entirely different mindset and has an entirely different set of goals. The Producer is the professional who can truly benefit from leverage, because the Producer is all about getting the job done as quickly and efficiently as possible.

The Producer understands that helping people doesn’t necessarily mean working with them one-on-one. It means creating systems that can be delegated and managed by other people. It means looking at your business from a bird’s eye view.

The problem is there are many Artists who think they’re Producers, and there are many Producers who think of themselves as Artists. It’s important to know who you are…and WHY you’re in business! Decide why you’re really in real estate and if you want to employ leverage to transform your business. It’s a personal decision.

Ways to Implement Leverage into Your Real Estate Business – It’s Fun!

I’ll mention a few ways you can transform your business using leverage.

1. Focus on referrals: Look at what I did. I started in sales, realized I could increase my hourly income by 60 times (more or less) by simply referring leads instead of working them myself. It’s enabled me to help a lot more people find homes with highly competent and experienced agents, to not ever go on weekend-long tours of dozens of homes (which I hated!), to get a LOT more control over my schedule and more. It’s also enabled me to work in multiple markets. I’ve referred thousands of clients out to agents all over the country. And in case you happen to be wondering…no, I’m not one of those guys who calls to sell you leads over the phone! That’s not how I do it, at all
2. Sell a subsidiary product: For example, an ebook. Why? Because it’s leveraged. Do you have real estate expertise, or don’t you? If you do, then your expertise is applicable to more people, many thousands more in fact, than the clients you’re working with on a day to day basis. Sell something to those people! Your expertise can be spread across the globe. Reach these buyers through your blog and social media marketing. You can even build landing pages and target them directly with a bit of SEO, PPC or whatever you’re comfortable doing. Point is, an ebook is just one more example of leverage most real estate people aren’t using.
3. Sell a leveraged service: I have one idea I’m going to give you…free of charge, that I think is a real opportunity. I may or may not have time to implement this one myself, but I think it’s a great idea, and I haven’t seen ANYONE do it. Set up a membership site in your local real estate market. Put together a 3 month course that teaches sellers how to sell a home themselves. You’ll need disclosures, etc, and it’ll take a minute to put the content together. But really, step by step…show em how to sell their own home. Give em every single thing they need…docs, tips on staging, how to handle objections, negotiation tactics…you know what I’m talking about. Charge $150 a month. Of course, you’re not going to actually do anything for them; you’re just giving them the info. And guess what…after you’ve run the course, you already have the content, so you can run it again without any additional effort. I call this a “leveraged service” because it’s not one-on-one, and it’s duplicable. You can have one subscriber or a thousand, and it takes the same amount of time, and you can run it again and again, updating it every so often. One more bonus to this, I guarantee you some of them will convert to listings after they’re finished beating themselves up to sell their own home!

The Effects of Leverage

You may very well have never considered these techniques. Many real estate professionals don’t. And I ended up making this post longer than I intended, because I wanted to make sure I’m clear…it’s not for everyone. However, if you’re a Producer, and you’re looking to take your business to the next level…and the level beyond that, you’re going to have to implement leverage. There is simply only so much you can do by yourself, working face to face with one client at a time.

Yes, you can hire an assistant. And then another assistant, and so on and so forth, but even if you build an entire team, you’re still going to hit a wall, because you’re only working one local market. Every agent, no matter what stage of the game you’re in right now, has access to the global market, and almost no one takes advantage of it! This blows my mind!

Clearly, the examples of leverage I give here are only a few. There are innumerable ways you can leverage your time. The point is to do it! Don’t think leveraged ideas like this are outside the realm of possibility for you. Anything you can do to touch and help as many people as possible is good business.

If you make the decision to begin employing leverage into your real estate business, it will require that you begin looking at your business differently, from more of a bird’s eye view. You’ll begin to find yourself having to say “no” more often to projects and opportunities that just aren’t big enough for what you’re doing.

For example, I’ve turned down two six-figure job offers this year. Not low six-figures either. Why? Because they’re eighty-hour-a-week jobs, and while I’m not making that much money right now at all, I will be…and then some. And I’ll be doing it on my own terms, on my own schedule. It’s just another version of the $250 vs $5000 predicament. I’ve already answered the question…I’d rather make $250. How about you?

This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

Using Leverage to Sell More and Take Your Business to the Next Level

It’s no secret that there are some smokin’ deals to be had on the MLS right now in the form of short sales and REOs.    While having your real estate license is by no means a necessity if you want to score great deals off of the MLS, there are definitely some advantages to being licensed.  Following are a few of those advantages..

Having access to the MLS

I’ve been wholesaling REOs for the last two years, and I can’t imagine doing so without having access to the MLS.  Aside from being able to look up comparable sales, I can also do research to find out where the investor hot-spots are,  as well as  find out which properties have fallen in and out of contract multiple times, and which properties are due for a price reduction (I specifically target such properties).  The MLS contains a wealth of information, and is something that I rely on heavily in my day to day investing activities.

Making a Commission on Purchases

Another upside to having your license when pursuing listed properties is that in many cases you will be allowed to take a commission on the deals that you purchase.  While you may elect to give your side of the commission away to the listing agent in order to sweeten your offer, it’s always nice to have the option of making a commission on top of the profit you are making on your deal.

Access to Properties

Being licensed will also allow you quick and easy access to any listed
properties you wish to get inside of and make offers on. When great deals hit the MLS, you need to be able to get into the property and have your offer on the table ASAP. If you don’t have access to the property, many times the deal will be gone before you are able to set up an appointment with a buyer’s agent to view it.

If you are a wholesaler, having access to the properties will make it much easier for you to show deals to prospective buyers once you have something under contract.

Ability to Make Your Own Offers

Finding deals on the MLS is a numbers game. You most likely are going to have to make multiple offers before you land a deal, and many agents are less than excited about submitting lots of low-ball offers to the banks. While it is certainly possible to find an agent who is willing to submit multiple offers for you, it can be an uphill battle. Having your license will allow you to circumvent this issue, as you can simply make the offers yourself and not have to worry about irritating a buyer’s agent.

Like I mentioned previously, having your license is not a necessity if you wish to pursue listed properties, but it is something you might want to consider, as there will be far fewer hoops for you to jump through as a licensed agent.

This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

Advantages to Having Your Real Estate License When Pursuing Listed Properties

I had the opportunity to speak with the Mayor of Las Vegas, Oscar Goodman, a few nights ago. He was the featured speaker at the monthly meeting of the Real Estate Insiders Club. In an era of much pessimism about the Las Vegas real estate market, Mayor Goodman is the voice of unbridled optimism. It was a refreshing change.

The meeting was held on the 24^th floor of the Newport Lofts high-rise condominium in downtown Las Vegas. With breathtaking views of the Las Vegas strip as a backdrop, Mayor Goodman gushed about what the future holds for the City of Las Vegas. While one would expect any incumbent politician to exude optimism, Mayor Goodman could back it up with facts and accomplishments.

The Early Days

It wasn’t that long ago that people would not go near downtown Las Vegas. The hotel casinos in the area were seedy and the area was rundown and known for crime. Along came a brash and unabashed mob lawyer to run for mayor. He had a vision of returning the downtown area to its former glory days. Many people dismissed him as a martini drinking caricature that would make Las Vegas a laughingstock.

Now in his third and final four-year term after being reelected in a 2007 landslide, Mayor Goodman has seen much of his vision become reality. Downtown now has the Freemont Street Experience, an enclosed pedestrian mall boasting a spectacular light show, which attracts thousands of visitors each week. The World Market Center to compete with the High Point furniture trade show, high-rise condos luring residents to the area, and much more.

To be sure the economic downturn and collapse of the real estate market have had a significant impact. But as the Mayor said to the crowd of more than 100 real estate investors and professionals, we need to look beyond that. The recession will run its course and a recovery will begin at some point. When it does Las Vegas will see a rebound.

The Future Shows Promise

The crown jewel of Oscar Goodman’s three terms is the acquisition and development of a 61acre parcel of land in downtown Las Vegas. Once a brown field that no developer would consider, it is now the site of current and future world-class projects called Symphony Park. There is the Lou Ruvo Brain Institute, The Smith Center for the Performing Arts, high-rise condo projects, a planned state-of-the-art sports arena that the Mayor assured the crowd would attract an NBA team in the near future.

The Mayor spoke of a time when he had to beg people to listen to his redevelopment plans. Now, he says, he has people calling to pitch ideas almost every day. Mayor Goodman gave one piece of real estate investing advice to the standing room only audience, “buy any real estate you can get your hands on around downtown Las Vegas, it’ll never be this cheap again.”

I’m the happiest mayor in the universe! – Oscar Goodman, City of Las Vegas Mayor

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This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

Las Vegas’ Biggest Cheerleader

I hate running. I pretty much hate any form of exercise. I have no problem doing my real estate work, but when it comes to working out, I’ll admit I’m very lazy and lack discipline.

I remember many of my mentors telling me how important it was to exercise on a daily basis and how exercising was often the first thing they did in the morning. I’ve also read the same thing in many books written by successful people. I recall one successful entrepreneur/writer saying that no matter what, he does three things every single day: 1) He writes 2) He promotes his business 3) He exercises.

This is What Happens When You Get Older

I’ve heard this advice for years and I just ignored it and didn’t think it had anything to do with success. Well, I must be getting older because a few weeks ago I started feeling run down and I didn’t have as much energy as I used to. Come 9:00 at night I’d be ready to pass out, even though I had just sat at my computer all day and hadn’t had a stressful or rigorous day.

I was talking to one of my friends about my lack of energy (who happens to be a personal trainer) and of course she told me it was because I didn’t exercise and because I didn’t eat well. So… what did I do? Two weeks ago I decided it was time to start running every day. Now, I don’t really care about the health aspects (even though I should.) But I care about having more energy so I can be more productive and make more money.

How Long I Run and How Often

I now run from 6:00am to 6:45am every morning, Monday-Friday. It’s only been two weeks but I am amazed at how good I feel. Really, it’s almost unbelievable. During the time I’m running I dislike it, but as soon as I’m done I feel great. Plus, I have so much more energy at night. At 9:00pm I’m no longer ready to pass out. I’m able to work until 11:00 if I need to and I feel fine.

Also, my mood is much better and I don’t seem to get irritated as easily from sellers who drive me crazy, or perhaps from a tenant that’s going to be a little late with rent.(I feel like I’m doing an infomercial right now… “And what do I owe this amazing energy increase to? Well, the XYZ super-duper, magic exercise pill sells for only $19.95… but if you order now, I’ll give you three bottles absolutely free.)

You Need To Add This To Your Daily “TO DO” List

Anyway, my point is, if you’re like me you want to be an incredibly successful real estate investor who makes a ton of money. To help you accomplish this, I would encourage you to start adding to your daily “to do” list to exercise for 30-60 minutes. It could be one of the smartest business decisions you’ve ever made.

Now my next goal is to start eating right… however, one thing at a time… baby steps.

Photo Credit tangywolf via Flikr

This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

Why Exercising Could Make You a Wealthier Investor

You may have already seen this particular economics propoundment but, then, maybe you haven’t. It is making the round of the Internet. I decided to use it because it hammers the real estate debacle square on the jaw.

For whatever reason, the government decided to beat up the tenth man leaving the rest of us with what appears to be only one way to go. Of course, your interpretation may not parallel mine. So be it.

Start—

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20.” Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected.
They would still drink for free.

But what about the other six men – the paying customers?

How could they divide the $20 windfall so that everyone would get his ‘fair share?’

They realized that $20 divided by six is $3.33.

But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free.

Beer And Thinking Start To Mix

But once outside the restaurant, the men began to compare their savings.

“I only got a dollar out of the $20,”declared the sixth man He pointed to the tenth man,” but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got ten times more than I!”

“That’s true!!” shouted the seventh man. “Why should he get $10 back when I got only two? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor!”

The nine men surrounded the tenth and beat him up.

Tenth Man Disappears

The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him.

But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, ladies and gentlemen, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction.

Tax them too much, attack them for being wealthy, and they just may not show up anymore.

In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

For those who understand, no explanation is needed.

For those who do not understand, no explanation is possible.

End—

I don’t want to sound like a crepe hanger so I’ll invite one and all to show me how the above scenario didn’t happen in this last real estate bubble. Remember, you may have zero interest in politics but politics has an all consuming interest in you, and your beer drinking habits.

Photo Credit: Rennett Stowe

This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

Bar Stool Economics

Any real estate investor knows that having a strong real estate team is an essential part of the business. You need your attorney, accountant, title officer, lender and real estate agent. The last two are probably the most important. Today we’ll talk about selecting an agent.

In a city or a large town it’s fairly easy. You probably have hundreds of agents to choose from and you just keep going until you select one that meets your needs.  Choosing someone to work with in a very small town is a horse of a different color. You may need to choose from a very small number and it’s possible that none of them will seem to fit the bill. I was recently faced with having to make that choice myself when it was time to list a property.

Defining the Parameters

Most of my properties are in the small mining town of Ely in northeastern Nevada. It is actually a very good real estate market with a strong demand for rentals. When I first started rehabbing there several years ago I had the opportunity to work with a truly outstanding agent. She knew the market and understood rehabbing and investment. Unfortunately after watching me make a lot more money than she did, she decided to go into rehabbing with her contractor husband and she left the business.

When she left I started working with the first agent’s associate. That worked out well until that agent left the area because of her husband’s job transfer. It was back to the drawing board for me. I defined what I was looking for in an agent and began my search. I didn’t need someone to locate properties; I did that on my own. If I was trying to buy a listed property I would have them present offers, but my real need for an agent occurred when it was time to sell. I wanted an agent that knew the market, had good negotiating skills, didn’t try to act like a know-it-all, and was accessible and responsive.

The Candidates

The pool I had to draw from was extremely limited, as there were only a few real estate offices in town. My method was to have a conversation with them before they had any idea of whether I was a buyer or seller and to get a feel for how I operated. I would drop into their office unannounced to see how I, or anyone else, would be treated. If they passed that simple test I would ask questions to see how knowledgeable they were.

Candidate number one was an agent I had briefly met a number of years prior. He had recently opened his own office and I made the assumption that he would be hungry and do a great job. For two days I dropped by his office only to find the same sign on his window – out showing properties. I called his number and left a message but he never called back. After asking around I found that this was par for the course. That was an easy elimination.

Candidate number two was an agent that I had a casual relationship with. She was someone who had been in the business for some time and was very knowledgeable. When I dropped in to chat with her there were two problems that surfaced. First she assumed that she knew more about everything than you did and acted that way. Secondly she was a negative-nelly who spent a lot of time telling you how bad things were. Scratch number two, there were only a couple of viable candidates left.

The Winner

Candidate number three was an agent I had met a couple of years prior when she showed me a property. I remembered her as being very presentable with a great  personality and an upbeat manner. I dropped in on her and quickly saw that she knew the business and had a way about her that made people feel at ease. She was extremely efficient yet didn’t act like she knew it all. I made an appointment for her to look at the property the next morning. I gave her the listing and if she does a good job, as I’m sure she will, there will be several more in the future.

Sales are contingent upon the attitude of the salesman – not the attitude of the prospect. – W. Clement Stone

This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

Selecting a Realtor in a Small Town

The other day, I was preparing to check my email when a headline on Yahoo!’s homepage caught my eye: Tough Times for Blockbuster. As a fan of Blockbuster’s, I felt compelled to learn why so many of its beloved stores (between 810 and 960!) were closing. As it turns out, several of its stores were becoming unprofitable money pits, no doubt due partly to the success of online rental goliath Netflix and newcomer Red Box—the rental box company taking the nation by storm.

Needless to say, Blockbuster has had to implement several changes necessary to stay competitive in this ever-changing market. Like Netflix, Blockbuster has launched an online, mail-service component. Blockbuster has even started distributing rental box dispensers much like Red Box. The question remains: is this too little too late for the former movie rental giant?

What does this have to do with real estate?

The Blockbuster Saga illustrates how important it is for real estate professionals and investors alike to stay on top of current trends and innovations in the real estate realm. Real estate professionals run a business, and they must treat it as such or risk getting left behind in the dust. The internet and social media marketing provide access to an almost unlimited number of potential clients and investors—but everybody and his mom knows that. The trick is to find out who your target demographic is… and target your marketing efforts there. Of course, that is easier said than done. There certainly is a trial and error aspect to this process. That is why it is imperative that you document where and how you’re getting your leads. How else will you know where to utilize your time, money, and energy to most effectively target your clients? Too often, real estate professionals rely on gut feel rather than statistical evidence—don’t make the same mistake.

Investors, like real estate professionals, have a wide variety of tools at their disposal to make informed decisions. They can check out a real estate company’s track record at the Better Business Bureaus’ website, or right here at BiggerPockets.com. They may look up a wide variety of statistical evidence at Reis.com, or scour investment properties on LoopNet. Keep in mind, however, that everyone else has access to the same resources, so be diligent!

Don’t rely exclusively on the internet

Checking out a property, or its neighborhood, online, is no substitute for physically checking out a property. A ten-minute drive through a property’s neighborhood will tell you more than several hours worth of research on the internet. Investing in a property without truly understanding its market—neighborhood, trends, economic situation, future developments—is like investing in a stock when all you know is its 5-year high/low prices and its most recent closing price. You might be making a good investment, but you don’t really have any substantial evidence to back it up. Without knowing the company’s business plan, looking at its financial statements, or understanding its recent acquisitions, how can you truly be confident in the stock you’re purchasing? The same principles apply to real estate investing. A properties operating numbers only tell a part of the story. You must dig deeper to truly understand what you’re getting yourself into.

This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.

What Blockbuster Can Teach Us About Real Estate