Paying Out Contractors

[Spencer Krautkramer]

What is the standard protocol for paying contractors when doing work on your property? I am a new investor and beginning my first larger scale project. The contractor is requesting 40% pay at the start of the project and the remaining pay after completion. Is that relatively normal? I work in the construction industry and we typically pay our subs on a monthly basis based upon what has been completed, but I am not familiar with the residential world.  What are everyone's thoughts?