What I did today
Yesterday, I talked about how I was excited because I had a couple Catalant calls today. Well, good news! One of the projects sold. This one is a one week project for $5K, starting in a few days. Either way, I’m excited because that’s a ton of money for one week worth of work.
Outside of that, I still have a bit of work to do in order to wrap up my last project on Catalant. For that end, I need to wrap up that up tonight and then I should be good to go!
But, perhaps even more exciting, there was a really good conversation with a property manager who is going to manage the 6 unit property that we got under contract yesterday. Not only was she fantastic and we’re excited to work with her, but she gave us a heads up of a particular town that has so much rental demand that she has a waiting list.
I’m going to set up a Zillow search for the area and hopefully, there is a property to buy there shortly. The goal would be to buy something that is 5+ units because then it is a commercial property. That means lower down payment percentage, but also a safer investment. If you buy one house, and your tenant moves out, and you lose 100% of your income. If you have 10 units and only one person moves out, you lose 10% of your income.
The more units, the better.
What I’m thinking about today
I’m annoyed at my day job today and excited for a world, down the line, where work isn’t important and a driving force of the day to day.
I realize that the next year is probably going to follow this pattern, where I do side work, buy real estate, and go to the day job. Fast forward one year, and things should look pretty similar. There will hopefully be more clients, and real estate should be up to ~50 units. That’s ~$5,000 a month in passive income and a damn good start.
It’s not $10K a day though. Good thing there are a few years left to get to $10K a day.
How I’m Feeling Today
I’m tired. I’m actually really tired.
I’d love to sleep more!
What I made today
Rental Income: $25
Interview Coaching: $0
Affiliate sites (1 site): $0
Today’s pro-rated amount of monthly expenses
My plan for tomorrow
Tomorrow shouldn’t actually have any required side work, which means I’ll probably get some website work in!
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
The hope is that this series of posts will inspire someone else out there to make their entrepreneurship dreams happen.
Dean Woods is currently a VC-backed startup 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.