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Not sure about your state, I would call the courthouse. I am a contractor so I have had opportunity to investigate how it is done in Mo. First you have to notify them by registered mail of your intent to file a lien and give them 10 business days from the date of receipt to pay. After that, you take your original invoices or whatever proves that they owe you and won't pay, to the recorder of deeds and pay 75$ to get the lien. They get a notice, saying that when they sell the property you get your $plus reasonable interest. However, the lien is only in effect for one year and you have to refile and pay again annually. Hope this helps

enjoyed your post. i congratulate you for thinking ahead.... i wish i would have begun investing when i was in college! just a couple of thoughts ....
Pay all your bills on time. Any late payment affects your credit score which is extremely important at borrowing time. Due to your age, the bank may b e reluctant to lend you the money w/o a co signer unless you have a killer deal. Think in terms of buying your own house first. Maybe a duplex so you can rent half and live in half. YOu will be building equity and strengthening your credit. You can sell after two years and not pay any cap gains since it is your residence. This spells opportunity if you can find an undervalued fixer upper that is decent enough for you to live in while you do the work yourself. The renovations you do plus hopefully a market increase over the two years you live there could give you a tidy sum in equity to do your second deal with.

Enjoyed reading your post. I am a relative newby. only been investing for about five years. I can definately relate to the fear factor. The best advice i can offer you is #1 do your homework... cover every possible base mentally before you proceed. #2 Develop a team. start getting to know people who do this. the more advice you can get on any issue the better
You might want to consider that the first house you buy should be your own. The financing is way cheaper if its your primary, you will have a payment history that will help your credit score, and if you buy right you can gain some fast equity and either sell after 2 yrs and avoid all capital gains since it was your residence, or take out a home equity line of credit to buy your next deal. If I had it all to do again my first purchase would have been a duplex, one half to live in and the other to rent. hope this helps

A year or so ago we discovered a HUGE, beautiful honeybee hive between the floor joists above the basement ceiling in one of our rentals. By the time the tenant let us know about the problem millions of bees were involved.The tenants had young children and amazingly no one got stung. We tried some stuff you buy in a can at home depot(i dont reccomend this approach) but it didnt work. Finally we called an exterminator. There was an initial treatment and a weekly followup for several weeks, till all the bees died. It cost less than a hundred dollars total. The hive is still there!! We wondered if the ceiling would start dripping honey, but not yet.

thanks for the input. we actually visited with an attorney friday and discussed this. some of your posts gave me new insight that interview didnt however. at this point we are planning to pursue incorporation, although it seems as if it will require a complete change in thinking.

outstanding post all cash... i am new to this site and relatively new to re investing. only took about 5 minutes in the game to realize the no down people were full of bs, and this was gonna take alot of $ out of pocket. thanks

We are relatively new re investors in missouri. We own 5 properties(2 duplex and 3 sfr) Have bought undervalued and fixer uppers, but not flipping. So far just developing our own portfolio. We manage ourselves. Should we incorporate? I appreciate this site and all advice will be appreciated. Thanks

I'm new here too and also from mo. been investing in columbia for five years. finding this site most imformative