How much would you pay your project manager?
Hello BP,
I am considering "hiring" a friend of mine to be my project manager on future flips. He is a contractor that would be able to do some parts of the rehabbing himself while also being present at the property while the work is being done and managing the contractors. Two questions for you 1) do you recommend working with a friend in this capacity (not anyone I am dating or have dated in the past, we're just two professionals from the same hometown ). 2) After paying him as a contractor for whatever projects he works on as part of the rehab, what percentage of my profits should I pay him to be my project manager? J. Scott mentioned he uses a PM it in his podcast and the system he has in place seemed to work well, but he didn't mention his percentage of pay. Thank you in advance!