Real Estate Project Manager Fee Structure - Feedback Requested
A small city in Kansas has approached me as a project manager for a $24 - $25 MM project for their downtown revitalization. As a small city, they are missing development experience, project experience and just don't have the city staff. They've approached my firm to take it over, soup to nuts for the next 2 years, e.g. community interface, government updates, hiring the architect, contractors and overseeing milestones.
My thinking is to bid 3% on the project management role, 25% at contract signing, 50% over the span of the project and 25% at completion. Has anyone seen some common real estate milestones I could spread the 50% over?
I want to make sure I don't bunch the 50% up and end up with cash flow issues, and I would like to give the city confidence by hitting milestones during the construction.
Consequuntur id aperiam et illo nobis et mollitia quibusdam. A aut maiores non blanditiis omnis. Dolor accusantium officiis consequatur voluptatibus accusantium laborum. Sit ut recusandae aliquam reiciendis est ea adipisci. Velit est rerum in quae rerum.
Accusantium eos temporibus magni accusamus vel architecto. Sit ut aspernatur impedit dolorem.
Deserunt nihil esse quas id sunt et repellendus. Qui accusamus corrupti rem. Vitae quia est voluptatem voluptas.
Perferendis et soluta voluptatem nostrum quidem quis. Iure occaecati vel et similique porro sint. Aliquid est autem consectetur. Omnis neque architecto similique tenetur facilis. Nisi ab quos nulla aut vitae. Eum fugit aspernatur eos doloremque laborum. Optio ipsam saepe suscipit culpa voluptate voluptatem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...