Notice of Default Listing - What would you do?

[Jennifer Krupp]

Hi BP Family,

I'm looking for advice. Every week the title company my firm uses sends me a listing of every notice of default sent out in the four counties around me from the week before last. For example, yesterday, I was sent the NOD's for July 13-17. I am provided the owner's name, mailing address, property address, original loan amount, the lender and the loan type (conventional, FHA, etc).

My question is:  How would you use this information?  I am thinking that I should send a postcard and see if I can meet with them and maybe either work a deal to list the property or see if I can buy the property fast using private money and then flip.  The market here is hot and properties are moving fast.  We are back to pre-bubble conditions because of local economic development (Tesla).  A fast flip is certainly doable as we have situations where housing prices are being bid up over asking.  

I would love to hear what folks here would do in this situation.  Would you jump on this, ignore it or what.  Any and all advice and/or stories about similar situations are appreciated!

Jennifer