Contractor Payment

[Karey Wright]

I'm a General Contractor in the South Florida area. I've pretty much just worked in the commercial industry and I'm aware that business is conducted differently in the residential rehab market.

I was just curious to know how most General Contractors set up their payment schedules when working on a rehab? Do they usually ask for a deposit? Do they usually get paid a set installment every month? Or do they get paid for work performed? Is retainage being held until work is fully completed?

I'm preparing to start investing in real estate myself and just wanted to know what to expect from other contractors.