Written by: Dean Graziosi with contributions by George Roddy, Jr.
Texas has done surprisingly well, enduring the burst of the housing bubble. Texas has had a medium rise in foreclosures as compared to the rest of the large states in the country. Between the years of 2006 to 2010, Texas foreclosures have risen 67%. At the end of the first quarter of 2010, Texas had survived 204,464 foreclosure starts. This was quite a feat, just of itself.
Over the same period of time, the state only sold 67,669 of its foreclosed homes, leaving Texas with a inventory of just under 65,000 foreclosed homes. The annual loss per home in Texas, was recorded by the state, as relatively small $3,030. In the end, Texas residential real estate compiled a total loss of $20 billion. As of the last quarter of 2010, Texas is embarrassed by its total of 337,620 past due mortgages. The number of private homes in nearby foreclosure in Nevada, are 6,596,254, an outrageously high number for such a low loss per home.
This shows that the cost of doing real estate, with the right agent, in Texas can still be worth its weight in housing gold.
Although we think the numbers of foreclosure we have experienced over the past 3 years has capped in Texas, we assess that the volume will continue at the same pace with small “blips and blurbs” over the next 18 months before reducing with any noticeable percentages. The adage “real estate is on sale” is very alive today. If you have the means to buy a few properties in good school districts, we would highly recommend you to take the plunge. At Roddy.com we offer a TURN-KEY real estate acquisition program. We find equity-rich 3-4 bedroom, 2-3 bath homes in good school districts and buy them at a significant discount, then we purchase these properties with our MONEY, fix up the properties in rental shape, then LOCATE and QUALIFY and RENT to good tenants with stable income. Finally, we offer these properties to YOU for purchase and HANDLE all of the management aspects (collection of rent, maintenance items, distribute funds directly to landlord’s bank account and monthly/annual accounting) for our investors. Our program will generate returns of 8%-14% every year on your investment. We know investments like: CD’s (certificate of deposit) offer no risk, but our Roddy TURN-KEY program will generate 8 to 10 times the return and you can sleep soundly knowing that you OWN a property that will generate positive results in three ways: monthly cash flow, tax write-offs and appreciation. Plus, we have 40+ year of experience in the Dallas/Fort Worth real estate investment market.
For more information, call us at 214-593-0074 or go to www.Roddy.com
George Roddy, Jr. – CEO, investment advisor