Follow-up with a letter informing them of the same so they have it in writing.

Any thoughts on if this might be a smart decision or if I should just rent equipment and write-off the costs?

Then after doing that for a while, I raised the fee to $10,000 with the ability to earn back $5000 of the coaching program if they completed all of the homework assignments.Coaching real estate has just been a side gig that I’ve done for the last couple of years and I’ve had anywhere between one and five coaching students at a time, but I’ve helped over a dozen people increase the net worth substantially during the year that I coached themSo here’s the question: One of my mentors recently shared with me that I am selling myself short as a coach and that in addition to charging the upfront fee, I should also write into the coaching agreement that I get an equity steak in the deals that I help my coaching students get during the year that I coach them.

The book talks a lot about what your long-term goals are, and also sets a framework for writing out your long-term goals, then helps you align what strategies in real estate investing might fit best into your life given what resources you have in terms of time, money, and skill.

Quote from @Heather Enciso: Thank you so much for writing this post.

What you are writing here is going to open you up to a lot of pitches on areas.

The brokers, more interested in doing a deal, would normally tell me to cross out what I didn’t like and write in whatever made me comfortable.

The key one for me is whether it makes sense to drop in some “correction” rates (i.e. negative growth) or if in the end it all evens out long term as @Kerry Baird writes...

Before you get any further, if you haven’t, I would highly recommend writing out your investment goals, your reason for investing, your constraints, etc.

REPS stands for Real Estate Professional Status—a tax designation that lets real estate investors write off rental losses (like depreciation and expenses) against other income, potentially saving a lot on taxes.