Investing in Texas Foreclosures can be a very lucrative strategy, but you need to fully understand the process, people, pitfalls, and profit centers. This workshop is geared to specifically show you how to locate, control and monetize foreclosure leads and walk you through the process in a step by step manner. We see many investors waste time and money because they are not educated on how the process works here in Texas. If you are serious about pursuing this type of lead, you owe it to yourself to attend this event.
What You Will Learn
The Foreclosure Process – Texas Property Code
- 9 Different Types of Foreclosure Liens you can purchase
- Twenty-one Day Process for State of Texas
- Judicial vs. Non-judicial foreclosures
- Non-disclosure State
- Relationship of Lender, Attorney (Trustee) & Homeowner
- Number of months before a Lender will take Legal Action
- Survivorship of a Lien or other Encumbrance
Finding Pre-Foreclosure Property
- How to find Posted Properties
- Availability of Foreclosure Posting Data & Early Postings
- Examine County Deed Records & Notices
- How to Use FLS’s Postings List
Buying Pre-Foreclosures
- How to Legally & Ethically Contact the Homeowner
- Negotiating the Deal
- Write an Offer/Contract with specific contingencies
- Assumable Loans, “Subject To” & Other Financing Options
- Discounting Loans, Short Sales & Paying off Lien Holders
- Closing the Transaction
- Payoff Mortgage vs. Reinstate
Buying at the Foreclosure Auction
- Atmosphere of the Auction
- Finding the Trustee/Attorney
- Organize/Sort your leads in the “Auction Style” sequence
- Bidding on the Property
- Who, When & How do I pay for this investment
- Cash & Cashier’s Checks
- Insuring Foreclosures – Type of Title Policy & When to purchase Binder?
- House Bill 2738 requires Immediate Payment
- Evicting the Occupant
Buying After Foreclosure from the Bank
- Identifying Bank repossessions (REOs)
- Using FLS’s REO/Auction Results Report
- Letter of Intent Offer
- Representing Banks by Listing their REOs
Workshop includes:
70 page manual, 4-hours live training.
