How to Buy Texas Foreclosures

by Tim Herriage

How to Buy Texas Foreclosures

by Tim Herriage

by Tim Herriage

George Roddy, Jr. serves as Chief Executive Officer of, and is a principal partner of Roddy Investments. In addition to running, George is a certified TREC instructor and a licensed agent and is the firm’s lead trainer for the auction workshops as well as other TREC certified programs. George has also served as Vice President of Foreclosure Listing Service’s operations for his first 13 years in the business and has over 17 years investment experience and over 12 years brokerage experience in Texas real estate.

Over the life of George’s investing career he has bought, sold, rehabbed, assigned, leased, managed, etc. over 500 investment properties as well as attended over 200 Texas courthouse auctions.

George’s wealth of personal experience, combined with his deep mastery of course subject matter, brings a vast amount of personal insight to the firm’s training workshops and provides incredible value to workshop attendees.

Register for the DFW REI Expo today, and save 30%

George is a sought after guest speaker at real estate related events and frequently presents in partnership with local REALTOR® Boards, Title Companies, etc. as well as consulting to state and local agencies like County Appraisal Districts. When George is not actively conducting workshops or mentoring students, he continues to actively invest in Texas real estate for himself and on behalf of his clients.

There are literally thousands of foreclosure properties in your backyard
every year. Learn the step by step process of how to make money in
today’s real estate economy with foreclosure investing.

This information-packed class is a great introduction to the Texas foreclosure process. Some of what you will learn includes:

 The Foreclosure Process – Texas Property Code

  • Nine Types of Foreclosure Sales
  • Twenty-one Day Process for State of Texas
  • Judicial vs. Non-judicial foreclosures
  • The relationship of Lender, Attorney(Trustee) and Homeowner?
  • How many months before a lender will take legal action?

Finding Pre-Foreclosure Property

  • How to find Posted Properties
  • When are Foreclosure Postings Available?
  • Identify which liens survive the auction

Buying Pre-Foreclosures

  • How to legally and ethically contact the Homeowner
  • Negotiating the Deal
  • Write a Offer/Contract with specific contingencies
  • Assumable Loans, “Subject To” & Other Financing Options
  • Discount Liens up to 90% or more
  • Closing the Transaction: Payoff vs. Reinstate?

Buying at the Foreclosure Auction

  • Auction rules and atmosphere
  • Finding the Trustee/Attorney
  • Organize/Sort your leads in the “Auction Style” sequence
  • Bidding on the Property
  • Cash or Cashier’s Checks as Payment?
  • Who, When and How do I pay for this investment?
  • Insuring foreclosures: What kind of policy? When to purchase binder?


Buying After Foreclosure from the Bank

  • 3 ways to make money with REOs
  • Finding the Lender
  • Making offers to lenders

Learn exactly what you should and shouldn't do when it comes to investing in Texas foreclosures. Remember, not everyone pays retail for real estate!

Tim Herriage

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