The $0-$10K/Day Case Study: Day 157

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Day 157

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I was really excited yesterday about the idea of being completely done with consulting.

As you guys all know, consulting has been really good to my fiancee and I. Not only did we meet at one of the big consulting firms, but consulting on the side has allowed me to make a significant income in addition to my day job. This income has allowed me to afford the real estate we now own.

I was hoping to be completely done with consulting right about now. Being done would be great, because it would have allowed me to begin working on my business and startup as quickly as possible.

Unfortunately, that’s just not going to be the case.

The problem is that my fiancee and I have our eyes on a new real estate deal. To close on this deal, we’re going to need just about every penny we’ve got, and then some, to make it happen. I can’t step away from consulting now, because doing so means passing on this deal. We simply can’t pass on it, knowing that the deal will lead to roughly $80,000 a year in cash flow.

So, instead, I’m going to need to grind the rest of this year.

If I grind the rest of this year and then blow all the money into the real estate deal, then I’m dead broke again. I’m going to need to grind in Q1 of 2021 to make money so I can pay off the taxman come April of 2021.

This is annoying because it means I can’t really prioritize my startup for a while then. At a minimum, I’m going to be balancing:

  • My day job
  • Consulting
  • A baby
  • Real estate management
  • The start up

All of those are essentially full time jobs.

The easiest thing to do would be to stop consulting, pass on real estate, and not do the startup. Then, I don’t have any of this pressure.

The problem with that is it won’t lead to an extraordinary life. I don’t want a regular, basic life. I’m willing to put myself through hell and five different day jobs. If that happens, I could get to the end of 2021 with cashflowing real estate and functioning startup that shows promise.

But I need to do all of these things, and  do them right, in order to get to where I want to go.

I’m signing up for a really hard year as of today. Much harder than I intended. I also don’t know how else to do this.

Yesterday there were 1,586 days until I turn 30 and need to make $10K a day passively.

Here’s how I spent it in pursuit of that goal

The current phase of the plan

I’m in Phase #3:  The Business Phase.  You can read more about the phases and my plan to get to $10K/a day at 30 here.

I still consult, and  I still have a job. I’m looking forward to removing both of those ASAP.

Wake up & sleep:

I woke up at 7:59 after going to bed at 10:38,  for total sleep of 8 hours and 42 minutes and a total recovery of 52%

Since I’m signing up for this tough year, it’s time to go after this more aggressively. It’s time for 4am mornings. If I’m signing up for this kind of year, then it’s time to attack it.

Exercise

Since I’m attacking  this now, it’s time to crush it. 4am mornings means runs in the morning now to boost energy. No more shitty, low  day strain of just 7.9

Stress levels

Stress was probably a 3/5, with 1  being the highest. I was feeling good, up until I realized I’m going to need to keep pushing.

Diet

Coffee, protein shake, some oatmeal, and fish for dinner. 2/5

My Day Job

Still nothing much. Still not sure what they think I’m doing all day.

Investment real estate

We had a good call with our existing property manager. She got two of our units rented already and she’s planning to be in the area for the next few years. That was important to us, because her leaving could really hurt our business since she is by far the best property manager in the area and it’s not even close.

My Actual Business

Nothing right now. I’m not going to have a ton of time on this!

Side Consulting

Need more work

Frameworking

Nothing

Market Research & Customer  Interviews

I did a couple of hours of work here to help add in more data points and research and tighten things up a bit. Things are looking relatively good and should be a smooth landing into a nice, fat payment shortly!

Sourcing new work

Nothing really here. I’ll need to do some of this post baby.

$10K/day website

Published the daily post.

Family

Walks with fiancee

Miscellaneous

Nothing

Rescue Time Daily Screenshot

What I made today

 

Current Income  Streams

  • Job:  $170
  • Rental Income (13 rental units): $43
  • Framework: $250

Total:  $463

Planned income streams

  • 15 websites
  • My Startup
  • Local Serviced Based Business  (cleaning business)
  • Affiliate
  • WordPress Maintenance Site
  • Content sites
  • Franchises
  • Dividend Income (municipal bonds)
  • Micro-SAAS’s
  • Hotels

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

 

Life Expenses: $89.73

  • Rent, utilities, Internet: $63.33
  • Phone Bill: $1.57
  • Heath Insurance: $8.90
  • Ladder Life Insurance: $0.83
  • TrueBill for Budget tracking: $0.10
  • Car: $15

My Startup’s Expenses: $0.16

  • Bluehost Domain name: $0.16

Health Expenses: $12.00

  • Peloton: $3.20
  • Gainful Protein Powder: $1.80
  • Care/of Vitamin pack: $3.00
  • Whoop fitness tracker: $1.00

Productivity Expenses: $2.25

  • SuperHuman to save time on email: $1.00
  • Rescue Time to keep me honest on my productivity: $0.20
  • Fantastical as my main calendar: $0.20
  • Evernote to track everything: $0.27
  • Grammarly to keep my emails looking okay: $0.38
  • BackBlaze to keep my files backed up: $0.20

Consulting Business Expenses: $302

  • Gusto to pay myself: $1.50
  • Quickbooks to track expenses: $0.40
  • Google Business Email Account: $0.40
  • Fiverr for virtual support: $0

$10K a day: $12.42

  • Kinsta for hosting: $1.00
  • Bluehost for domain names: $0.03
  • WP Rocket for speed: $0.14
  • Link Whisper for SEO: $0.14
  • Elementor for site design: $0.14
  • Astra for theme: $0.14
  • Rhino Rank for SEO: $10.83

Real Estate Investing: $0.52

  • Legal Zoom Registered Agent (all LLC’s): $0.52

Today’s Income (pre-tax)

Topline of $463, spent $119, which means….

Made $344 (pre-tax).

My plan for tomorrow

Tomorrow is Thursday, and I need to do:

  • Wrap up my big project for my client by completing the report

 

1,585 days until I turn $30. I’m making $10K a day passively by then

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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