Rehab edumacation time🤣

[Michael L.]

Great Afternonn BP Fam! I've heard many approaches and I presume there is no right or wrong but I'd like some more feedback if yall don't mind chiming in;

1, Do you give your contractor a % to start the work, and if so, what % is appropriate?

2, Do you purchase supplies or leave it up to the contractor?

and if you having any contractor references around the D.M.V feel free to drop them in my dm. Thanks in advance.

[Greg Kasmer]

Michael - Yes, you are correct. Many approaches here on how best to work with contractors. Personally, with my best contractor I've worked it where I pay for materials and just paid him the labor cost. He usually goes to Home Depot/Lowes, etc.. in the mornings and picks up the materials and I pay via credit card on the phone. (FYI - They should also have a "text to confirm" option as well if you just want to receive a text for payment). As for labor, I pay him on a weekly basis based on the work completed. I don't pay him anything up front, but I do make sure to pay him on time every Friday as along as all the work has been completed for the week. When I pay him on Fridays we talk about the work that needs to be done by next Friday (setting expectations) so that we're on the same page for the next draw. If you do need to pay upfront I would keep the initial payment to a minimum (10-20% of project) and be on the same page with you contractor as whether that payment is for labor, materials, or both. Also, I would have a draw schedule in your agreement with specific project milestones (demo, electrical, drywall install, finish work, etc..) and payments along with milestones rather than dates. If the contractor is delayed/slow with work you don't want to make payments based on a date, make it based on work completed. Good Luck!