Vancouver Washington House Painter
Robert Baumann
I’m not a painter. What I am is a real estate investor. Over the last 35 years I’ve owned countless rental properties, apartments, office buildings, shopping centers and warehouses.
I’ve dealt with hundreds of painters. For new construction. For hundred year old buildings. And everything in between.
I’ve had some great experiences, and I’ve had some real disasters, too. What I’ve learned over the years is all here for you in these free videos. As you watch them in the coming weeks, you’ll learn everything you need to know to get the best painting work at the best price.
HOW SHOULD THE PRICE BE PAID
Once you have agreed on a price and a method of handling changes, then you have to agree on how the price is to be paid.
Typically most painters will require an up front deposit of 10% to 25% of the contract price.
Change orders are typically paid as the change is completed. Depending on the size of the job, the painter may request progress payments at regular intervals, so he does not have to come out of pocket to buy materials or pay his people.
All of these payments are OK to make, provided you have checked out the painter like we have discussed earlier.
Very importantly, you should hold back 20% to 25% of the total price, to be paid only after you have accepted the job as final and complete. This gives the painter the incentive to respond to your requests in a timely manner, because he wants his profit.
Performance bonuses and penalties are typically accounted for when this completion holdback is paid to the painter.
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About The Author
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