This headline came pretty timely after I spoke with regarding chattel paper. He's thinking of a strategy is similar to this (paraphrasing): Ryan's team buys mobile homes for $4–6K, puts ~$10K into renovations, and instead of just flipping them, seller-finances the sale to create a note.
They then either borrow against that note immediately (hypothecation) to pull equity out fast, or hold it for 12–24 months and sell it once it has a clean payment history.
The big-picture play is partnering with mobile home park owners to scale this into a repeatable model, renovate, seller-finance, monetize the note.
As note investors, do you think there's opportunity in the manufactured home note space in the coming years?