Investor · Council Grove, KS · Member since 2014 · 94 posts · 31 votes
Hello fellow BP'ers
My son has been working for me on these homes that we have been rehabbing over the summer. I have been telling him that I will give him a bonus when the home gets finished. The first finished will be a rental. I also told him that he would get a larger bonus on the next house because it will be a flip. I have been paying him hourly throughout the summer.
My question is, how do others determine the size of a bonus to give? And does it matter that its hold property?
Investor · Marina Del Rey, CA · Member since 2015 · 297 posts · 87 votes
11y
I have family that works for me and I do give them a bonus. However, I never tell them ahead of time so they aren't expecting it. I usually give a couple of hundred on a rehab project that usually takes 1-2weeks. I have given other contractors small bonuses for doing a good job when I feel they under quoted me. All of my properties are holds so I don't think that matters. Are you paying him a decent hourly or getting a good deal by having him work for you? That could help determine the size of the bonus.
Investor · Council Grove, KS · Member since 2014 · 94 posts · 31 votes
11y
@Carrie Giordano, I am getting a good deal for him working for me, but he doesn't really know a much and he's got a lot to learn. I think that's a great idea not telling about a bonus, but my thinking was to get him motivated to hustle up, (kids nowadays) lol. But he really does work hard for me. Thanks.