Rehab Question - Allocation of Funds

[Eric Johnson]

Greetings BP members,

I'm looking to purchase a property and rehab it to flip.  My question, is there a rule of thumb about how the funds should be paid out to the contractor?  For example, if a contractor gave me a quote of $30K to rehab my property that will take him/her 2 months, what percentage do I give up front and how should the remaining funds be distributed throughout the 2 months?

Thanks,

Eric Johnson