I need a Contract for my firs PM Rehab.

6 Replies

Hi, all...an investor gave me a job as Project Manager over rehabbing a duplex. I am trying to find a contract for this. The ones I Googled are not for free, and I do not think I should have to pay for one. Any suggestions on how to get one without pulling out my credit card?

Thanks :-)

@Teresa Keith Good Morning. You might look at the forms section in the Resource section at top of site. You could change the general contract to fit your needs maybe. Good Luck Tom

903-452-8843

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@Tom Keith....Thanks for the reply. I did find the contracts, and I also ran into a forum that addresses the same question. According to a reply in that forum that I read from J. Scott, I will need to get with my investor to determine what exactly we need to go into this agreement.

Thanks again for leading me in the right direction.

You can use the one I have here:

http://www.biggerpockets.com/renewsblog/2010/02/17/whats-in-a-contract-contractors-rehabbing-real-estate/

It was written by a GA attorney, so it's likely legal for your needs, but don't hesitate to pass it through your own attorney if you have any concerns or doubts.

Keep in mind that this is an Independent Contractors Agreement and basically says that you are acting as an independent contractor. If you'll actually be acting as an employee, you'll want to be compensated as an employee and get any benefits owed to you as an employee.

For example, if you're not doing work for anyone else, if your "boss" is dictating your hours, if your "boss" is providing you tools, if you don't have a separate business entity, etc., you very well could be considered an employee -- this is not a decision you make, but is determined by the structure of the relationship.

Here are some thing to look for to determine if you're an employee or a contractor:

http://www.biggerpockets.com/renewsblog/2010/05/26/are-you-sure-your-independent-contractors-really-are/

In my experience, almost all PMs are really employees, not independent contractors...if that's the case, make sure you're paid and treated as an employee.

@J Scott....thank you for the recap. I did follow your link from another forum, and from reading this valuable information, I concluded I need to run things by my investor to come to some agreement on modifications that will need to be made for this contract. From the information you gave on how to determine if I will be an active employee or contractor; I think I fall into the employee category (as you stated I probably would).

Thanks again, and I must say that BP is awesome (Legit!)

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