Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 7 months ago, 06/21/2024

User Stats

82
Posts
75
Votes
Griffin Malcolm
Pro Member
  • Schenectady, NY
75
Votes |
82
Posts

What's a reasonable bonus for my GC

Griffin Malcolm
Pro Member
  • 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]
  • Loading replies...