Wholesaler · Oakland, CA · Member since 2016 · 20 posts · 8 votes
I just partnered up with a general contractor who's going to come with me when view properties to give me an accurate estimate on repair costs. We have to sit down and figure out how I'm going to pay him. Is there a standard why that we should handle his compensation? Should I give him a percentage of the deal when it closes or a flat rate fee?
It really depends on what you're doing and if you're feeding him work. I've never had to pay a contractor for an estimate, unless its a specialty (like foundation or structural engineering), however, I also hire contractors on a regular basis to perform work on houses. If you're just starting out and you don't have any work to hand out yet, find out what his normal hourly rate is and pay him for the time spent.