How should I determine what to pay brother and sister-in-law help

[Steve S.]

As part of building my team, my brother and sister in law live in the area where the rentals i'm acquiring are.  

They will be doing odds and ends types of things to help prep the house for rental.  Things like:

- Painting

- Installing sinks

- Patching small picture type holes in the wall

- visiting the house to do a pre signing walk through

- visiting house to evaluate it as far as a rental prospect

- etc

Any good suggestions on how I should determine what to pay them?  They are willing to do it for less than I could hire, ore example, a painter to do the work, but I'm trying to determine a formula for easily coming up with fair payment terms.

[Brian Pleshek]

Unless they are getting a share of the profits, I would pay them as you would any other contractor.  Have you asked them how much they want?  Just have them itemize any work needed and give estimates.  You can then choose to use them at that rate or pay someone else.

Brian