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Updated over 9 years ago on . Most recent reply

User Stats

160
Posts
141
Votes
BOB CRANEY
  • HIGHLAND, MD
141
Votes |
160
Posts

Do you pay yourself when you manage or work on your own rehabs??

BOB CRANEY
  • HIGHLAND, MD
Posted

I have always only made money when i sold a rehabbed property. I occasionally enjoy doing certain aspects of the renovation myself but never have paid myself the equivalent wage associated with these different parts of the project. In a similar vein i have never included a GC/project management fee as part of my costs even though i have always run my own jobs. I am incorporated and purchase all the properties in the company name so i guess i could pay myself on a W@ type basis for this kind of arrangement but ji wonder if anyone else is doing it this way. Unfortunately i have a regular full time job, if i was able to pay myself along the way during a rehab then i may be able to ease out of the job without feeling pinched with no income for several months until a rehab is sold or rented. 

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