The $0-$10K/Day Case Study: Day 114

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Day 114

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As I talked about last daily update, I had a phone call with a client yesterday. Context: this client put a posting online a few weeks ago on UpWork. They were looking for someone to help teach them about a particular type of real estate investment instrument. There was a small budget, I think $150 or so. I pitched on it, assuming it would be easy due to my knowledge of real estate investing as an active investor. I love the idea of making $150 based off existing knowledge and limited work. Well, here’s the thing. It became clear that it was not going to be limited work. They asked me to write together an outline of my final write up would be about this instrument. I did but told them we would need to do this for $300 since it would take longer. I also told them I was slammed with other projects and it would take me a few days to get to it. A few days later, I finally got to it and wrote the whole thing up for them. It took me maybe ~2 hours total to do. Then, they asked if we could hop on the phone to discuss. That was yesterday. On that phone call, we talked for about an hour. I answered all their questions and tried to be as helpful as I possibly could. It was a really fun conversation because it was talking about something I really like. Once we got off the phone, I got a really pleasant surprise. They gave me a huge bonus to the contract, with the total income being $550. This is from a project with the initial estimated fee was $150. My lesson: always, always, always overdeliver on what is being asked of you as a consultant and freelancer. Even if it’s a low dollar amount, even if it’s a shitty client, you need to give someone great output. The only thing you have as a freelancer or a consultant is the quality of your work. There are literally millions of freelancers. The only thing you can do to set yourself apart is to deliver quality.

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:

I slept great, 8 hours and 36 minutes, waking up at 7:04 and going to bed at 9:51 My activity and productivity was through the roof. I think it’s directly related to having gotten so much sleep. I really need to keep this up from a sleep perspective.

Exercise

Consistently active. I was on calls all day so I was pacing while on those calls.

Diet

Diet was pretty shitty, even for quarantine. I made my fiancee chocolate chip pancakes with bacon for breakfast, and then we had some Costco pizza for dinner.

I need to work out tomorrow.

My Day Job

I had ~5-10 meetings yesterday. I’m doing a couple of different projects and I’m getting relatively busy. A friend at the office is going to help out with one of those projects, which is greatly appreciated!

Investment real estate

As mentioned yesterday, it was time to follow up with the less good property management company.

I did, and they finally responded. We’ve owned this property for 4 months now and they are literally just getting about renting two of the vacant units. My attitude towards them has long been “don’t piss them off.” We absolutely need them since we live several hours away from the property. That being said, not even listing two of the units is pretty shockingly sub-par. I’m now going to keep a much tighter leash on them and email them back and forth to ensure they keep units occupied and good to go. They emailed yesterday. We have one tenant who mows the lawn in exchange for $50/month off rent. Apparently the lawnmower broke and he wants $100 off rent to buy one. This feels like it could be scammy, but we also want to ensure to keep him mowing the lawn because it’s cheaper. We told the property manager that if he produces a receipt for a lawn mower, we’ll knock off up to $100 off his rent next month. Candidly though, we shouldn’t have to do this shit about a lawn mower. I shouldn’t need to have to email a property manager to rent two units. That’s what their job is. The problem is there are no other managers in the area. Lesson learned: only buy if there are good property managers in the area. It’s also a smaller property with only ~7 units. My guess is we’ll sell this building in the next ~3-5 years and do a 1031 into something else. Thank god we don’t have to worry about the other property manager.

Side Consulting

I have a few projects going on now.

Business plan This has been the client who has had some pushback. I did a bit more work and emailed it over to him. Private Equity Nothing. I’ll email tomorrow Financial modeling Small edits, but we should be just about done. Canadian Financial modeling This is a fun one. This was the client I mentioned in the last post who reached out and wanted to hire me on the spot. He’s chatty. He was on the phone with me for an hour the day before, 90 minutes today, and wants another 90 minutes tomorrow. I’m extremely close to walking away from this project, which is $2,500 because I’m afraid the hassle isn’t going to get better. He hasn’t placed money into Escrow on UpWork as well. If he doesn’t, I’ll walk away. Sourcing new work Nothing yesterday

$10K/day website

I spent ~30 minutes to publish yesterday’s post. My redesign is almost ready, so I’m very excited about that! Family Fiancee time for breakfast and after finishing up work

Miscellaneous

Nothing Misc today!

Rescue Time Daily Screenshot

Not the most productive day, seen by only a 57/100 and a ton of red.

What I made today

Job: $170

Rental Income: $33

UpWork: $245

Consulting: $0

My business: $0

Affiliate: Not doing yet

WordPress Maintenance Site: Not doing yet

Micro-SAAS’s: Not doing yet, 

Hotels: Not doing yet

Dividend Income: Not doing yet

Total: $448

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

Expenses: $250

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

Today’s Income (pre-tax)

Made  $198

My plan for tomorrow

Tomorrow is Thursday and I’m going to:

  • Follow up with my  rea

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

Wake up & sleep:

Exercise

Stress levels

Diet

My Day Job

Investment real estate

My Actual Business

Side Consulting

$10K/day website

Miscellaneous

Rescue Time Daily Screenshot

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

Today’s Income (pre-tax)

My plan for tomorrow

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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