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Updated over 6 years ago,
Bonus Incentive for Project Manager
I have been investing in real estate flipping for about 8 years. In recent years, I fill an asset management role to grow the business. Find deals. Fund deals. Design. Forecasting. Etc.
I would like to train my project manager to to take on some of my tasks. Finding and analyzing deals. The project manager is a trusted, family member. The intent is for them to run the business when I leave the area in a few years.
As incentive to find good deals and feel a sense of ownership, I would like to give a bonus that is a percentage of profit from the flip. What is an appropriate rate?
Any guidance is helpful, thank you.