Family/Boots on the Ground compensation?

[James Likis]

We are preparing to do fix and flips long distance in a city where we have plenty of family. We’ll have a realtor on the team and set up systems for the contractor team to provide us with video and picture updates. 

That said, there’s nothing like folks who are exclusively in it for you. My in-laws would be our go to folks to have eyes on the rehab process and walk rehabs on a regular basis. They are retired and love this stuff — like would legitimately enjoy talking with contractors, walking the site, taking videos, the whole deal. 

I want to make sure they are compensated for their time since they will be a major value add. Have others had a similar set up? What sort of compensation set up could you see working well in this set up? All thoughts and recommendations welcomed!

[Bill J Fay]

Project managers usually work with the GC to help coordinate the project. If permits are needed, you must check to see if you can pull them as the homeowner or need a General Contractor to do so. A GC will be very helpful if you are just getting started, especially if you are out of state.