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All Forum Posts by: Jasmineka Caldwell

Jasmineka Caldwell has started 3 posts and replied 6 times.

Post: Purchasing mortgage notes

Jasmineka CaldwellPosted
  • Posts 6
  • Votes 1

Has anyone purchased mortgage notes from Paperstac? I'm looking for anyone with some personal experience with the site. Were you happy with the quality of the asset? Was the process easy? How much due diligence time were you given? How much money did you have to pay to the website?

Post: Laws for AirBNB in Chicago

Jasmineka CaldwellPosted
  • Posts 6
  • Votes 1
Originally posted by @Griffin Abel:

Hi @Jasmineka Caldwell,

The current Chicago legislation on operating a "shared housing unit" can be found here: https://www.chicago.gov/content/dam/city/depts/bac...

Additionally, here is a list of Chicago properties that have banned short term rentals: https://www.biggerpockets.com/files/user/GriffinA6...

Hope this helps!

 This is very helpful. THANKS!

Originally posted by @Jason Boritz:

@DeWayne Counce

I would look at buying a condo in Las Vegas.

 He may have mentioned Vegas because then you could use it as an Air BnB property. I'm in the same position. I have about the same amount but I'm not real sure the best route to start. And I don't want to take on a lot of debt by using my funds as a down payment on a larger loan. I would like to find a way to use what I have to grow it and then scale up in the future. 

I read the whole thread nevermind he was not talking about airbnb😄

If you own a mortgage note and have to foreclose on the property Are you required to buy the deed? Or if some else buys the deed do they owe you the money for the mortgage note? 

Post: Laws for AirBNB in Chicago

Jasmineka CaldwellPosted
  • Posts 6
  • Votes 1

Does anyone know the laws for operating an AIR BNB in the Chicagoland area?

This was helpful.