Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Questions About BiggerPockets & Official Site Announcements
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago, 11/02/2021

User Stats

4
Posts
0
Votes
Miko Yeo
0
Votes |
4
Posts

Bonuses for your Rockstar Contractor? (David Greene BRRRR Book)

Miko Yeo
Posted

Good Day Fellow Rockstars! I have been reading David Greene's BRRRR Book and on a section with the GC he mentions a way on how to figure whether the GC is lying to you regarding the Timeline or not. His Process is as follows:

1. Carl mentions that he can get the Job done at 8 Weeks. You then ask "Are you Positive on that? Just asking so that I can plan around it."
2. Carl now mentions "Alright, 9 Weeks". You then respond "Actually Carl, I'm gonna give you 10 Weeks and a 5% Bonus from Total Job cost if you finish on time."
3. Now Carl will be Ecstatic, But here's the trick. You follow up with "But if you are to go above 10 weeks I will have a 5% Penalty of the Total Job Cost for every week you go beyond the agreed Tenth. I need to be very sure you’re being real with me here, and not just telling me what I want to hear."
4. Now if Carl is Excited and accepts it. It shows that he can really do it at the Set Timeline but if he were to make excuses, stammer or backpedal then we know Carl has been Full of Crap this entire time.

With the above said, Is this something one would still apply when you have found your Rockstar Contractor? And if not, How would you talk to your Contractor about him not having a Bonus and Additional time on a Project anymore? (Do you convince him otherwise for instead of Bonuses and Time you can bring him "More Volume"?)

Thank you & Would love to hear your Inputs Fellow Rockstars! ;)

Loading replies...