Everything that I am about to say is all agreed upon prior to engaging in the project and written into a contract that is signed by all parties involved.The way that we structure our payment schedule is that upon acceptance of a bid we receive a 10% kick-off deposit and then we operate on a draw schedule throughout the project based on project completion milestones.

I have added some milestones to our 10 year plan.

Align payment with key milestones - do not pay all upfront. 

If not, I would be very concerned about paying an employee to do any site work (let alone demo work where there are 100 different ways they could get injured on the job).I understand the point of your post is to celebrate this milestone in your business and I am happy for you.. it's awesome that you are expanding.

Every time I hit a milestone number, that would be my new 0.

Hello everyone, Going into 2024 and so on I'm interested in getting into multifamily properties of 15 units< assuming my other milestones are hit.

You might want to offer to pay for materials as they're bought, but labor at different milestones.

@Ronnie Galindo you mentioned the draw schedule does not have dates but does it have specified progress milestones for certain parts of the project?

I'll add my two cents and if anything is a repeat, it's probably worth the repeat 😂Multiple quotes to compare bids for contractorsLock in work with a solid pre-screen and contract that lays out payment terms and milestones/benchmarks for workModel the financials in as much detail as possible, including overrun for time/change orders and then stick to the planDon't over flip the project...look at what is moving in that market and maybe go a tad better in terms of fit/finish to set yourself apart from the pack.

Don't miss big milestones in your children's lives just to make a few dollars.