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Updated over 10 years ago on . Most recent reply

User Stats

299
Posts
126
Votes
Arnie Guida
  • Residential Landlord
  • Greenfield, WI
126
Votes |
299
Posts

50% Up Front

Arnie Guida
  • Residential Landlord
  • Greenfield, WI
Posted
Got a bid and the contract said 50% up front. I've got a nice place in a nice part of town, you've got...a truck, and I'm the one not trusted. That's funny.

Most Popular Reply

User Stats

231
Posts
102
Votes
Stan Butler
  • Investor
  • Roswell, GA
102
Votes |
231
Posts
Stan Butler
  • Investor
  • Roswell, GA
Replied

Not a chance would I put down 50% on a project with a new contractor.  The biggest risk for contractor is most likely the cost of materials.  You could always offer to pay for the materials yourself so that way its only labor you are paying to the contractor.  I would try to scope out 1 week deliverables and payment at the end of each week.  This way neither party can get too far behind.

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