Podcast appearances and mentions of david krulac

097: Not long ago, I did a little experiment where I attended over a dozen different tax deed auctions in my home state.(Show Notes: REtipster.com/97)After spending a lot of hours picking out the properties I wanted to bid on and assessing what I thought they were worth, I spent weeks participating in these auctions, and I didn't have much luck finding any amazing deals there, but I took special care to chronicle everything I experienced and published it as a 4-part blog series (you can see them linked below).Now, just when I was ready to swear off ever attending another tax deed auction, I got an email from this guy named David Krulac.He told me that he has bought hundreds of properties at Tax Deeds Sales, he's been buying for many years and he's still buying now… and I realized, this guy must know something I don't!Since I wasn't able to brag about my own success stories in this realm, I wanted to get David on the show so we could find out (from someone who has actually done it hundreds of times), what was I doing wrong? What should my expectations be at a tax deed auction? What properties should or shouldn't I be going after? How great is this opportunity, really?In this episode, David is going to share a wealth of information from his decades in the business, and he'll show us what it really takes to find great deals at a tax deed sale.

In this episode, Jonathan Farber interviews David Krulac on his journey from buying his first property at auction to a major real estate investor. David has nearly 1000 transactions under his belt and has made 8 figures over the course of his career. In this episode, we get into topics like: finding real estate at auction, finding reliable contractors, understanding auctions, and more! Top Takeaways: How to find real estate at an auction - 21:10 - 24:40 If possible, see the property before bidding Gas heat is the preferred option Take a contractor with you to evaluate the condition if you can A house that has exterior issues is likely to have interior issues How to pick reliable contractors with little experience - 34:30 - 41:20 Contractors that have a place of business and branded materials are usually more reputable Detailing the exact work to be done ahead of time will give an idea of the contractor’s knowledge Paying in advance is rarely necessary; buying materials yourself is a good way to build trust Getting referrals from your good contractors is a good way to find new ones Relying on Realtors or other dependent contractors to review work brings more experience and perspective Understanding types of auctions - 45:30 - 54:45 Sheriff sale: a mortgage foreclosure, also known as a trustee sale, owned by the lender; must outbid the bank to get the property Tax sale: real estate taxes weren’t paid, varies widely by state; learn rules/process in your market Many options available based on the liens on the property How to bring value to David Krulac: Find people to connect with to spread knowledge and lessons further Resources: Book by David Krulac: How I Started with Nothing and Made 12 Million in Real Estate Part-Time Social Links: biggerpockets.com/users/imade12million david@centrelpennlots.com Connect With The host, Jonathan Farber Here! LinkedIn: https://www.linkedin.com/in/jonathanfarber1/ Instagram: @jonjfarb FaceBook: https://www.facebook.com/jonathan.farber.9 Facebook Group: Real Estate Mentorship Mastermind BiggerPockets: https://www.biggerpockets.com/users/JonathanF29 Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr

In today's show, Pancham interviews David Krulac, real estate owner, broker, speaker, and author of the book, How I Started with Nothing and Made 12 Million in Real Estate Part-Time. This show is a particularly interesting one as David reveals the nuances of purchasing a tax sale and a tax lien property. For those who are not aware of this investing approach, David first explains the basics in simple terms. Right from conducting due diligence to visiting a tax sale auction, we explain the entire investment process in great detail. What are some red flags that you should watch out for while purchasing a tax sale property? What sort of returns can you earn using this investment approach? Are the rules for purchasing tax sale and tax lien properties different in every state?  For all this and much, much more, tune in to our latest show now! Timestamped Shownotes: 01:38 – Pancham explains a little-know strategy to purchase a real estate property at maximum discount 01:44 - Pancham welcomes David to the show 03:05 - How did David get started in the real estate business? 04:05 - Why does David find a tax sales purchase such an attractive proposition? 04:34 - What is a tax sale? David explains in simple terms 05:34 - What is the process of a tax sale auction? 05:44 - What is a tax lien? 06:27 - Tax deed vs Tax Lien - Understanding the difference 08:37 - 3 Important FACTS that you should be aware of before buying a tax sale property 09:53 - How to conduct due diligence for a tax sale property 10:55 - Should you insist on physically seeing the tax sale property before making a purchase? 14:13 - David reveals how performing a title search can help you buy a tax sale property at a huge discount 15:39 - How can you make money by purchasing a tax lien? What sort of returns can you earn? 19:13 - How is the process of purchasing a tax lien different in a bid down state? 20:44 – David explains how the process of purchasing a tax lien property is starkly different in a state like Michigan 22:06 - How often do tax sales happen? 25:54 - David explains how ended up turning $4,500 into $600,000 by investing in a tax sale property 30:15 - Some red flags to be aware of before purchasing a tax sale property 32:42 - Taking the Leap Round 32:52 - When was the first time you invested outside of the Wall Street? 33:20 - What fears did you have to overcome when you first invested outside the Wall Street? 37:16 - What was one investment that did not go as expected? 35:58 - What is one piece of advice that you would give to people who are thinking of investing in the Main Street? 36:53 – What inspired David to write his book, How I Started with Nothing and Made 12 Million in Real Estate Part Time? 40:35 - Pancham shares his contact information 3 Key Points: What is a tax sale property? And, why is it such an attractive proposition? Tax Sale vs. Tax Lien – Understanding the Difference Some red flags to be aware of before purchasing a tax sale property Get in Touch: Pancham's Email The Gold Collar Investor The Gold Collar Investor Facebook Page How I Started with Nothing and Made 12 Million in Real Estate Part-Time David's Website

David Krulac started with nothing and financed his first property 100%. Today he is a full-time real estate investor, speaker, author and broker. Beginning as a part-time investor with a busy, full-time career and out of state travel, he was able to accelerate his real estate holdings by purchasing in one year 39 properties, and selling 35, while having a full time non-real estate job. He has bought and sold over 800 properties for his personal portfolio. For 20 consecutive years he has averaged buying or selling approximately one property a month. He specializes in locating, researching, purchasing, improving and selling niche properties that others may overlook. His experience includes title searching, tax assessment appeals, zoning issues, soil perk testing and unusual real estate situations.  Book: http://www.12milliondollarbook.com/

Todd & Dan Discuss: How to “Time Any Market”  7 Steps to 7 Figures  Risk Removal as the #1 Investment Strategy      Mentioned Episodes: (There are 91 Content Packed Interviews in Total) PLEASE LINK EACH TO THE CORRECT PAGE ON THE BLOG Dan Breslin on Gentrification-Doubling Property Values Austin Stack on Being Drafted Onto the Diamond Equity Team David Krulac on Creating HUGE Value through Subdividing Residential Acreage   Resources Mentioned in the Episode: www.FinancialMentor.com   Do You Know Anyone Else Who’s a Real Estate Investor?  Do You Think They’d Also Enjoy this Episode? Please Forward this Link & Tell Them to:   Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master” Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Jefferson & Dan Discuss: How to Raise $11,000,000 using Podcasts  How to Increase Cash Flow in the first 6 Months of Park Ownership  Why Mobile Home Parks are the BEST Tax Efficient Real Estate Investment  Finding Passive Mobile Home Park Investment Opportunities    Mentioned Episodes: (There are 90 Content Packed Interviews in Total)  Paul Sloate July Monthly Market Update Dan Breslin on Gentrification-Doubling Property Values Austin Stack on Being Drafted Onto the Diamond Equity Team David Krulac on Creating HUGE Value through Subdividing Residential Acreage   Resources Mentioned in the Episode: www.ParkStreetPartners.com   Do You Know Anyone Else Who’s a Real Estate Investor?  Do You Think They’d Also Enjoy this Episode? Please Forward this Link & Tell Them to:   Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master” Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Damion & Dan Discuss: How to Reduce Fees to Near Zero for Self Directed Retirement Plans  Zero Tax Real Estate Investing Strategies Controlling the Checkbook in Your Retirement Account Ditching the Wall Street Way for Real Estate Investing Instead!!   Mentioned Episodes: (There are 89 Content Packed Interviews in Total) Paul Sloate June Monthly Market Update Dan Breslin on Gentrification-Doubling Property Values Austin Stack on Being Drafted Onto the Diamond Equity Team David Krulac on Creating HUGE Value through Subdividing Residential Acreage   Resources Mentioned in the Episode: www.TotalControlFinancial.com   Do You Know Anyone Else Who’s a Real Estate Investor?  Do You Think they’d Also Enjoy this Episode? Please Forward this Link & Tell Them to:   Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master” Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.  

So many in real estate fail because they never get started. In this interview, I meet with David Krulac...who started out nearly broke, and has gone on to do over 800 deals and made over $12 million. Great interview, check it out! Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Jim & Dan Discuss: Selecting the Right Markets for Fix & Flips Deals  Price Point to Search & Win Deals on the MLS Script & Process for Presenting Profitable Offers to Agents Solid Productivity Strategy for Busy Real Estate Pro’s   Mentioned Episodes: (There are 78 Content Packed Interviews in Total) Russell Walker on Funding Deals with NONE of Your Own Cash (NOT Private Lending) Austin Stack on Being Drafted onto the Diamond Equity Team Josh Inglis on Building New Construction & Selecting Rentals on Chicago’s South Side David Krulac on Creating HUGE Value through Subdividing Residential Acreage   Resources Mentioned in the Episode:             www.RealEstateInvestorAcademy.com   Do You Know Anyone Else Who’s a Real Estate Investor?  Do You Think they’d Also Enjoy this Episode? Please Forward this Link & Tell Them to:   Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals” Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.  

On this podcast I talk with David Krulac, who has bought over 900 homes in his career. David is not only a real estate investor, but is also a real estate broker who runs his own office. David was one of the top agents in his area because he helped develop subdivisions, and worked with many builders. David loves to buy rentals and flip properties, and has developed many ways to find deals. He is an expert at finding good deals through tax sales, the MLS, and networking.  

Josh & Dan Discuss: Josh’s Recent Transition to New Construction Deals Identifying the Characteristics of Better Rental Neighborhoods in Any City How to Quickly Sell Your Flips for FULL PRICE in RECORD TIMES   Resources Mentioned in this Episode:   Most Popular Episodes: (There are 67 Content Packed Interviews in Total) George Beatty and an Inside Look at Doing Deals with Diamond Equity Michael Freedman on Verifying, Reducing, or EVEN ELIMINATING Flood Zone Designations on All Kinds of Real Estate Frank Montro on Closing 300 Deals Per Year (AKA-King of Southside Chicago Fix & Flip Deals) David Krulac on Creating HUGE Value through Subdividing Residential Acreage   Do You Know Anyone Else Who’s a Real Estate Investor?  Or Maybe they’re Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode? Please Forward this Link & Tell Them to:   Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals” Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

David & Dan Discuss: How NOT to Lose when Buying at an Auction Making a $1,000,000 Profit on a 36 Month Land Deal Finding Overlooked Opportunities by Mastering “Perk Testing” David Krulac’s Book:  “How I Started with Nothing & Made $12M in Real Estate”   Resources Mentioned in this Episode: David Krulac’s Company www.CentralPennLots.com   GOOD NEWS FOR ANDROID USERS:  We’ve Been Added to Google Play Here’s the Link: https://goo.gl/app/playmusic?ibi=com.google.PlayMusic&isi=691797987&ius=googleplaymusic&link=https://play.google.com/music/m/Ijpjqlaxrwkqjdqb3ln2del2gei?t%3DREI_Diamonds-Real_Estate_Investment_Podcast   Do You Know Anyone Else Who’s a Real Estate Investor?  Or Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode? Share the link and tell them to:   Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals” Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Today on the BiggerPockets Podcast we are excited to sit down with David Krulac, a real estate renaissance man who has experience in nearly every aspect of the industry, being involved in over 800 deals in his career.In today’s show we cover everything from prospecting tenants, how to buy at auctions, sub-dividing land, tax deeds and much, much more!In This Show We Cover…Purchasing houses from auctionsHow David’s first deal lead to him living rent and mortgage free for 6 months The importance of working with Credit UnionsDealing with probates Month-to-month leases vs annual leases1031 ExchangesThe ins and outs of subdividing landTax deeds vs. tax liensThe importance of an epic business cardHow to go from o to 800 dealsAn example of a super risky deal!What to watch out for when you go to buy at auctionsWhat to look for in a potential tenantAnd a TON more!Links Mentioned in the Show:The BiggerPockets FileplaceThe BiggerPockets RewindBooks Mentioned in the Show:How to Turn $1,000 into a 5 Million by William NickersonLandlording by Leigh RobinsonBuy and Hold by David SchumacherMillionaire Next Door by Thomas J. StanleyHow I Started with Nothing and Made 12 Million in Real Estate Part-Time by David KrulacConnect with David:David’s BiggerPocket ProfileDavid’s Website: CentralPennLots.com