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Updated over 5 years ago, 09/03/2019

User Stats

88
Posts
41
Votes
Jason Martinez
  • Real Estate Agent
  • Cypress, CA
41
Votes |
88
Posts

PM found GC to do work, wants cash up front......?

Jason Martinez
  • Real Estate Agent
  • Cypress, CA
Posted

Hi everyone, 

Here I am posting another question regarding my first investment. 

I closed on a house that needs a bit of work done. The PM that I hired has many vendors considering they manage over 750 properties. They have assigned a GC and I received an estimate for $5870 they want the full amount up front.

Questions: 

1. Is it normal to pay the full amount up front before starting the project if the PM found the GC? 

2. Regarding the estimate of $5870 I know this is just an estimate, but how likely is this number going to increase/decrease? This is a first for me dealing with contractors OOS. 

I can provide the quote in private messages if necessary. 

Thank you! 

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