Creative Structures to Incentivize Your GC On a Flip?

[Eric Sztanyo]

Hey BP,

As a less experienced flipper, I'm curious about different contract structures you've used to work with and keep a quality General Contractor. 

Particularly in my situation, I don't have a lot of flipping experience yet. So, I lean on my GC pretty heavily early on. 

Any structures where there is upside for the GC to do a good, quick job and want to work with you again on the next one? What has worked well for you? 

Thanks!

[Shaun C.]

I work for a $2B/yr construction company in Michigan, but we are worldwide. We have liquidated damages in almost all of our contracts. Have it done by this day, or there will be $xx withheld from your payment for every day after. Inexperienced flippers may not be able to accurately time a project, but as long as you and the contractor agree to this timeline, you should be fine assuming nothing pops up.