How to Pay Your Contractors | Real Estate Investor

youtu.be

The speaker shares a personal experience of being scammed by a contractor who took all their money and did not complete the job. They suggest that this is often the fault of the person hiring the contractor, as they paid all the money upfront. The speaker recommends implementing a "third third pay system" where the contractor is paid a third upfront for materials, a third halfway through the project, and the final third after a final walk-through. They suggest that trustworthy contractors would be fine with this system. The speaker recommends finding contractors at local meetups for Real Estate Investors, as good investors will continually bring them business.

The speaker shares a personal experience of being scammed by a contractor who took all their money a