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Updated over 5 years ago,

User Stats

90
Posts
28
Votes
Larry H.
  • Investor
  • San Antonio, TX
28
Votes |
90
Posts

Electrician Wants 50% up front

Larry H.
  • Investor
  • San Antonio, TX
Posted

Flipping my first house and first time dealing with sub-contractors.  The electrician that gave the best bid wants 50% up front.  I balked at that and he said he can do 25% up front.  He said he doesn't want to fund it himself and I told him that worries me if he can't fund a job this small.  He said it's not that he can't, but he doesn't want to.  I live 8 hours away from this job.  

I'm using a rehab loan with a local bank and they have a draw schedule, which I doubt includes up front payment.

What is the standard?

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