The tour was a great success!! It was very informative and had all the right pieces to purchase your first investment home. This time I was the one being interviewed for TheAustinForeclosureTour.com but it was by News 8 Austin for their report on the bus tour. Check out the story and clip below!! - Flower
Bus tour of foreclosed homes
6/28/2008 7:48 PM- By: Heidi Zhou, News 8 Austin TV
The destination of Prodigy Mortgage's foreclosure bus is the real estate clearance aisle.
"When you go shopping, you want to buy a dress on sale and know it was valued a lot more. So it's the same thing for a house," home buyer Flower De Raadt said. "To me, foreclosure means it's on sale." She was among 20 bargain hunters who saw six homes in three hours. De Raadt said she is looking for her first house, one that would accommodate her new family. "OK, is that corner safe right there? I'm looking for those baby proof things," she said.
De Raadt is also learning about real estate investing. She plans to purchase a house, live in it a few years, then rent it or sell it.
It's a smart move, according to Ryan Rodenbeck, a realtor with Castle Hill Investments. "Although nationally the market is going down, here we're still appreciating," Rodenbeck said. Foreclosures in Travis County have increased by 42 percent since last year, he said."Some people are losing their homes and that can be sad. But if you're in a place where you can put your money into real estate, you stand in a position to take advantage of the conditions of the market," he said.
Foreclosure bus tours are a recent nationwide phenomenon. Prodigy Mortgage said it's the first to organize one in Austin. Its tour brought along a mortgage broker, realtor, inspector and property manager to make the experience a one stop shop.
Interviewing Michael Ray & Justin Boyd of Prodigy Mortgage | The Paragon Group
Wednesday, 25 June 2008
I recently interviewed the founders of The Paragon Group a division of Prodigy Mortgage. The podcast is now live. I decided to publish this podcast a bit early because I’ve been busily working with them on putting together TheAustinForeclosureTour.com’s first event this Saturday, June 28th from 9:30 AM - 12:30 PM and I wanted to make sure you knew about it. I’m really excited about this event. Michael & Justin have brought together everybody you need around you to purchase a foreclosure (bank owned) property in Austin, TX, fix it, and flip it or keep it. They will show you 6-10 properties on Saturday morning on a bus tour around the city and each expert in their field will talk about them. It’s a neat concept and an all inclusive buying experience for new investors.
Michael & Justin are also my mortgage brokers for my first real estate purchase. They’ve been guiding me along the way on how to prepare myself financially to get the best loan for the best property for my first investment and once we have a property they will shop around my application to get me the best possible loan without affecting my credit scores if did it myself.
On the podcast, we talk about the mortgage lending crisis along with the steps needed for a new investor to get financing. We also talk about foreclosures and other type of investment strategies that they have personally used as investors. Listen in and join us on the tour this Saturday! If you are unable to make it, join us on the next one being announced soon! If you are in need of a mortgage broker in Texas, I highly recommend them. You can reach them by calling them at 512-442-4905 or by emailing them at
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