SEO or PPC - If you had to choose

[Jim Froehlich]

If you were really being stingy with your marketing budget (like me) and you had to choose between SEO or PPC (or neither) to generate leads (motivated sellers and cash buyers), what would you choose?  If someone has seen a good post on this subject, please re-direct me.  I saw a good post by a guy who essentially said you have to do both.  My other thought is just to stick with doing JVs for awhile with others in my areas of interest with people who already are overflowing with leads and split profits on deals.  Thoughts?