The $0-$10K/Day Case Study: Day 105

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DISCLOSURE: THIS POST MAY CONTAIN AFFILIATE LINKS, MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. PLEASE READ MY DISCLOSURE FOR MORE INFO

One component of COVID that I really feel on a day-to-day basis is the ubiquity of work.

When I wake up, it’s only 10 steps to my couch to sit down and get cracking. My laptop is always nearby and can be grabbed and set up in only a second.

Then, it’s off to work. And with there being no reason to “commute” home at the end of the day, the work keeps going all day long.

Yesterday was one of those days. I didn’t have Rescue Time on until the end of the day, but it was one of the longest days of concerted effort that I’ve had in a while.

Here’s the kicker though: I feel like I could have worked harder.

I’m a motion person and love staying active. When my fiancee is on the road, I work until I’m running on fumes. I hate going to bed and just laying there, unable to sleep.

If I can’t go to sleep the second my head hits the pillow, then just laying in bed feels like wasted time to me.

And that’s what I felt like yesterday.

Which is  crazy, because it was such an objectively busy  day with lots of excitement in real estate, consulting, and websites.

What I did yesterday to make $10K a day at 30

The current phase of the plan

I’m in Phase #1:  The Job & Side  Hustle Phase.  You can read more about the phases and my plan to get to $10K/a day at 30 here.

Wake up & sleep:

My Whoop died in the middle of the night so no data here on my end!

Exercise

I walked only 6,000 steps around the apartment today.

I am really tempted to buy a Peloton. I looked it up and the problem is they take 8 weeks to arrive right now. I don’t think I want to wait that long for such an expensive purchase.

Diet

Diet was relatively normal. I had some eggs and then Costco Spanikopita for dinner.

Probably a 6 on the healthiness scale, but it’s probably a 10 for quarantine life.

My Day Job

It was a Monday yesterday, but I didn’t really do much for my day job right now. At some point, that might bite me in the butt where I need to catch up quickly on work.

Investment real estate

Well, this was certainly a fun day here.

For the  7 unit, we heard from the property manager and the maintenance team. They’re working, finally, to get the two vacant units rented up. We have ~10 days until the start of May. I would love those units on the market ASAP. If those units are rented, we should cash flow about $1,000 a month form that building.

For the 6 unit, it was certainly interesting! We got our first statement from this property manager. It’s clear she’s awesome and knows what she’s doing. She’s already doing unit turns and sprucing up the building in order to get more tenants in there. The units are small one-bedrooms, and she’s adding in a stove, painting the units, and providing new flooring. Once those are all in, we can then rent them at a higher price point.

But, there was something crazy last month. The electric bill was $1,100!!!!! We had the last 12 months of expenses from the prior owner and the entire year worth of electric bills was $1,100.

So, something is obviously up.

The property manager is already looking into it for us. I’m optimistic we’ll be able to lower that cost to effectively ~$100 a month, as we expected. The manager is great, so I’m hopeful we’ll hear about that shortly.

Side Consulting

I have three projects going.

Business plan

I did a bit of work here, mainly on the slide creation.

Private Equity

This was an extremely long focus of yesterday. I spent maybe ~10 hours sketching out the final readout slides. The deck is being shared with my client on Wednesday, so I have ~36 hours to finalize. This was a shit ton of work, and I’ll have more to do shortly.

The deck is also a touch short, only 16 slides right now. That length is a bit shorter than I would have liked to have, so I’m optimistic my grasp of material will help.

Consulting for private equity firms is fun because they will ask you to learn everything there is about a tiny, small fraction of the submarket to a market. I haven’t done this project, but here’s an example market: who makes the wicks that goes into candles? What does that market look like?  Growing or declining? Who are the players?

It’s fascinating because I knew jack-shit about my current market just a week ago. Now, I’d put my knowledge of the market in the top 1% of the world.

That’s not meant to be an arrogant, or ego-driven comment. The reality is: how many people in the world have spent a week studying the wick market for candles? By studying it for a week, I just know more than most people ever will because they don’t study itt.

That’s why I love private equity and business plan work. It’s fun studying those weird markets

Financial modeling

I spent a few hours here doing some light modeling and then had two quick calls.

Sourcing new work

No new work right now!

$10K/day website

I spent ~30 minutes,  according to Rescue  Time, to publish yesteday’s post and work with my developer guy on the redesign.

Family

My fiancee and I had a nice day together, capped off by watching Listen to your Heart (the new Bachelor show), and that new Beauty and the Baker show.

Miscellaneous

It looks like that website sale is going to go through for ~$2,450. I’ll take it!

Rescue Time Daily Screenshot

I invested in Rescue Time, to help me understand where I’m spending my time vs. not, but really for the purposes of the case study.

I disagree with the Social Networking piece being red because that was me communicating with my buyer!

(I know all these photos are pixelated! Working on fixing it)

What I made today

Job: $170

Rental Income: $33

UpWork: $0

Consulting: $220

Affiliate: Not doing yet

Micro-SAAS’s: Not doing yet, but sold my site for $2,450

Hotels: Not doing yet

Dividend Income: Not doing yet

Total: $2,873

A new record, largely driven by selling the website

Today’s pro-rated amount of monthly expenses

Expenses: $250

Once I pay off my debt, I’ll break out expenses into a line by line as well.

Today’s Income

Made $2,623

My plan for tomorrow

Tomorrow is Tuesday and I have to:

  • Update my business plan
  • Light modeling work
  • Some day job work
  • And deck review
  • Also, set up Stessa

All in, I think about 4-5 hours or so

About the Author & The $0-$10K/Day Case Study

Dean’s goal is to create $10,000/day in passive income through entrepreneurship. Too many people write “success porn” that skates over the struggles many face in entrepreneurship. His goal is to create something real that highlights the lack of sleep, disappointment from family, and setbacks you really face in entrepreneurship.

To read more about how this case study is set up, check out the ground rules here.

The hope is that this series of posts will inspire someone else out there to make their entrepreneurship dreams happen.

Dean Woods is currently an executive by day and a bootstrapped micro-startup CEO by night. Prior to working in startups, Dean was a management consultant. Dean graduated with honors from The Wharton School.

What I did yesterday to make $10K a day at 30

The current phase of the plan

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Wake up & sleep:

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Exercise

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Stress levels

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Diet

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My Day Job

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Investment real estate

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My Actual Business

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Side Consulting

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$10K/day website

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Miscellaneous

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Rescue Time Daily Screenshot

Today’s pro-rated amount of monthly & yearly expenses

Today’s Income (pre-tax)

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My plan for tomorrow

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Dean Woods

Dean Woods

Dean’s goal is to create $10,000/day in passive income through entrepreneurship. Too many people write “success porn” that skates over the struggles many face in entrepreneurship. His goal is to create something real that highlights the lack of sleep, disappointment from family, and setbacks you really face in entrepreneurship. The hope is that $10K a day swill inspire someone else out there to make their entrepreneurship dreams happen. Dean Woods is side hustling and working a full time job to kickstart his entrepreneurial path. Prior to this life, Dean was a management consultant. Dean graduated with honors from The Wharton School.

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