Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 8 months ago on . Most recent reply

User Stats

87
Posts
81
Votes
Griffin Malcolm
  • Schenectady, NY
81
Votes |
87
Posts

What's a reasonable bonus for my GC

Griffin Malcolm
  • Schenectady, NY
Posted

Approaching the end of my first BRRRR (rehab to be done in 2 weeks) and I'd like to reward my contractor with a cash bonus; I'm wondering what an appropriate amount of money is to give him. Percent of the rehab amount? Flat bonus? Here's some more context:

Rehab cost about 30k. We involved his guys for paint, siding, carpentry, flooring, sheetrock, electrical, and demo/trash haul. I really didn't have to lift a finger. My contractor made all the calls, got everyone in there very quickly, and has stayed right on budget. He has even come to my personal house to pick up money and some things I ordered from Amazon to be installed in the property, and fronted some of his own money to keep things moving while I wait for the draw from my lender to clear. He really has been a rockstar and is locked in to keep doing more properties with me. I really couldn't be happier, so as such, I want to give him some money to show my appreciation. 

I was thinking I'd give him an extra $1000 cash when we're all refinanced. Is that too much / not enough? I truly have no idea. Advice would be appreciated, thanks!

  • Griffin Malcolm
  • [email protected]
  • Most Popular Reply

    User Stats

    534
    Posts
    534
    Votes
    Jon K.
    • Rental Property Investor
    • Perry Hall, MD
    534
    Votes |
    534
    Posts
    Jon K.
    • Rental Property Investor
    • Perry Hall, MD
    Replied

    The best reward for a job well done is more work and referrals. I'm not a fan of a surprise bonus because it kind of sets a future expectation. There was a time I would take my GC and his main crew out for a day of fun when a job was done: charter fishing for an afternoon or bar hopping etc where I covered the bill. I thought it was a nice way to say thank you and that I appreciated the hard work. The first time I didn't do it after a job (which honestly didn't go as smoothly as I would have liked), it definitely caused some resentment.

    Loading replies...