Hiring a Project Manager

[Christine Lovett]

If you were to hire a Project Manager for just one flip/rehab - either because that's the only project you had going or you just wanted to a "first date" to test their skills how would you structure their pay? Let's say this PM would be acting as your General Contractor for the job and would oversee any and all subs.

Would you agree to a flat fee based on the project and/or a percentage of the profit or a percentage of the agreed upon ARV.

How would you handle the purchasing of materials... give them a Home Depot gift card, temporary access to your credit card, go with them to the store, have them purchase and reimburse them? 

Would you structure their payment to be half at starting, half at end of rehab. Or would you expect them to not get paid until the property is sold.

Would love to get lots of feedback and ideas please.