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In my opinion, HUD homes are the best way to aquire property below market value and enjoy instant equity at closing. They are everywhere in Texas and are easy to spot. These homes are offered to owner-occupants for the first 10 days and usually have a bid deadline of midnite on Sundays. Bids are submitted electronically and if an offer is not accepted, the home is then offered to investors or owner-occupants on a daily basis.
We specialize in HUD homes at Discovery Realty Group. We have bought many of these homes ourselves and have helped clients purchase them. Although sold as-is, they are often in great shape, but can also be in need of a lot of repair. We can assist you with locating and purchasing HUD homes for investing as well as for your primary residence. There are strict guidlines to the HUD home buying process and it is a little more intense than the typical home buying experience. But I believe the results are worth the trouble. To find current inventory of HUD homes visit www.southwestalliance.com . Or just call us. 
The following is an example of a HUD home in Georgetown that I purchased in 2003. 
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