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Updated almost 10 years ago on . Most recent reply

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573
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281
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Brandon M.
  • Agent / Investor
  • Clearwater, FL
281
Votes |
573
Posts

Contractor payment agreements: Do you pay anything up front or all after work has been done?

Brandon M.
  • Agent / Investor
  • Clearwater, FL
Posted
Just curious to hear how other flippers are doing it. Do you pay your contractor a portion upfront before any work has been done (say 25%), or do you work out a payment agreement for draws to be paid at certain points but only AFTER work has been completed? Curious to hear how others do it, I am typically very meticulous with every dollar I spend and have been burned too many times recently, so I tend to prefer to pay only for work that has been done. Sometimes that tends to rub contractors the wrong way, as if I don't trust them or something.

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