Paying Contractors For Rehab Work: When Do You Pay?

In this video we discuss paying contractors for rehab work. When do you pay? Is it before work is done? Halfway through the project? Or when the work is completed? I discuss in this video how we pay our contractors when we are rehabbing our rental properties. If this content was helpful, consider liking and sharing this video, as well as subscribing to this channel to see content like this posted daily!
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Timecodes
0:00 - Intro
0:22 - One of the biggest dilemmas contractors get themselves into
1:33 - Do not be taken advantage of (pay for completed work!)
1:51 - Our personal experience and lessons learned
2:45 - How we pay contractors
3:54 - Closing
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About Ryan Ingram:
I believe the meaning of life is to become the best version of yourself for the benefit of all those around you.
Over the past 3 years, I have made drastic improvements to my life. Mainly, because my wife and I had our son; it was very important for us that she be a stay at home mom.
Unfortunately, on my salary in law enforcement, I couldn't make that happen.
I questioned my abilities as a provider, and for a brief time, even as a man.
I dedicated myself to read one book per day until I learned how to solve this problem.
5 years later, we have a few businesses and over 250 rental properties.
We made sacrifices along the way, but I learned the power of mentorship. I know the importance of finding someone willing to help and guide you, even if they are just a few steps ahead.
#realestate #realestateinvesting #contractor

[@fitwill73]

I always pay contractors at the end of a job. They get no money upfront.