#44 with David Krulac: Scaling to 1000 Real Estate Transactions and Making 8 Figures Over the Course of His Career

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

[email protected]

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