General Real Estate Investing

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Jason Martinez
  • Real Estate Agent
  • Cypress, CA
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PM found GC to do work, wants cash up front......?

Jason Martinez
  • Real Estate Agent
  • Cypress, CA
Posted Aug 29 2019, 19:38

Hi everyone, 

Here I am posting another question regarding my first investment. 

I closed on a house that needs a bit of work done. The PM that I hired has many vendors considering they manage over 750 properties. They have assigned a GC and I received an estimate for $5870 they want the full amount up front.

Questions: 

1. Is it normal to pay the full amount up front before starting the project if the PM found the GC? 

2. Regarding the estimate of $5870 I know this is just an estimate, but how likely is this number going to increase/decrease? This is a first for me dealing with contractors OOS. 

I can provide the quote in private messages if necessary. 

Thank you! 

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