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Updated almost 2 years ago,

User Stats

5
Posts
2
Votes
Maggie Hamill
  • Developer
  • Madison, WI
2
Votes |
5
Posts

Investor is licensed GC and wondering about self pay vs subbing

Maggie Hamill
  • Developer
  • Madison, WI
Posted

My partner is a licensed general contractor/carpenter and works FT at a commercial construction company. 

We are in the process of building 3 duplexes.  First duplex we've subbed most trades and my partner is acting as GC.  We're considering that he leave his W2 job in order to build the next two rentals for us -- covering the framing and siding labor alone is approx $100,000 for the next two projects so we'd essentially pay him for these things instead of paying a sub.  Loan remains the same and he gets to do what he loves vs work for someone else.  Obviously this is a temporary plan as we figure out our next moves (looking to roll equity into new, larger projects as soon as possible).  Anyone else done something similar? Thoughts/suggestions?  TIA!