Just a PM or turnkey?

[Nikki N.]

Soooo, I bought the first duplex and I have some unclear thoughts again so maybe you guys can give me some ideas.

I've found one other PM and I was happy after the interview with him, he is a nice and clever guy, but when we came close to sign a contract he offered me this:

He ( they) will coordinate the project with hired contractors, they will manage my funds so nobody is paid until work is complete, they  DO NOT ALLOW owners to mix with the contractors!! And he will be paid 10%  of the project cost for these services.

Now, I can accept to have a cooperation with this PM without this, he offered me these two options,

1. he is a project ( rehab) managers and the he gets 10% and I get bids and cannot speak with contractors

or

2. I have my own contractors and if he goes to check the house and all the work he will be paid 75$

So, I have two questions that bothers me:

1. Is it normal that PM have this kind of a deal? Isn't that what turnkey companies do? and why shouldn't I be able to speak with contractors? And how can I know that it is not in his interest to make the expenses hire so that his 10% is hire as well?

2. even if I decide to have my own contractors, should I still have a cooperation with this PM? Should I trust him after this kinda shady offer?