That was a pretty big milestone for me. 

(I assume at this point, you're probably not managing the contractors yourself.)Basically, what were the major milestones in your journey to get to where you are today?

The lender sets the draw schedule in relation to the work milestones.  

@Shawn Kirk I always do longer leases with commercial tenants where possible, but I lease residential units on 1 year terms with milestones in place to renew for additional year(s) where both parties agree.

Congratulations on this milestone Joel - and thank you for all the support that you've provided for this community!

Do you set goals, do you set mile stones, do you make calls, do you go to REIA meetings, are you educating yourself through the many sources here on BP. 

Even if the journey is hard, you are the one choosing the road,navigating the obstacles on your terms, and earning every milestone.

You'll need to negotiate a draw schedule based on project milestones, with the last payment happening after all work is completed. 

We are PLEASED to announce that BiggerPockets has crossed the milestone of 350,000 members!

Use draws or payment plans where once the contractor hits a milestone for the project, he/she will receive the next payment to continue.