The Gold Collar Investor
TGCI 29: Tax liens and Tax deeds. Buying real-estate at hefty discount!
Mar 30, 2020 · 41 min
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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:
  1. What is a tax sale property? And, why is it such an attractive proposition?
  2. Tax Sale vs. Tax Lien – Understanding the Difference
  3. Some red flags to be aware of before purchasing a tax sale property

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