What I did today
Overall, I got some stuff done yesterday. On the plus side, it was a real estate day!!! We closed on another property today.
However, I was super tired for most of the day and got some disappointing news regarding some consulting work.
Wake up & sleep:
I woke up at 6:57am yesterday for 7 hours and 9 minutes of sleep. Since I had done a pretty good workout the day before, my fitness tracker was telling me that my body was exhausted. I only had 34% recovery, which it’s way of saying I didn’t get enough sleep. I definitely felt it during the day.
That’s a bummer because I didn’t get enough work done on the day so it’s definitely not a good thing if I’m tired and unable to get as much done as I would like. I don’t have the ability, or time, to have days where I don’t have energy. I’m on a deadline to hit at 30!
Limited exercise here today. I walked some laps around my apartment to keep mobile during COVID and that was about it.
Morning coffee, a bagel, some leftover Thai food, and I made my fiancee muffins. Overall, 4/10, but with our fresh fruit and veggie supply low due to COVID, I don’t know how I can eat much healthier than that!
My Day Job
I had a couple of meetings yesterday and did some work to set up a few projects I’m going to be working on
Investment real estate
Standard scrolls through my saved searches and didn’t find anything great.
However, yesterday was an exciting day in that we closed on a 6 unit rental complex!! This brings the total numbers of units owned to 13 units.
This complex right now has units renting in it for ~$450/month. That’s low, and with ~$10K worth of work, we can get those units up to ~$500/month.
But, each unit also has a really nice garage space that we could rent for $50/month, which the previous owner hadn’t done. Most people in the area also have pets, so that’s another ~$50 a month.
When all is said in done, we expect our fantastic property manager to have all work done in ~4 weeks and the units fully rented in ~6 weeks for $600/pop or $3,600 across the whole complex. Based on our down payment and the work, our total ROI on the property should be 19% this year!
If your ROI is 15%, it means you double your money every 4 years. Since we’re above that threshold, this is a good buy. We always look for that 15% threshold for every purchase we make.
We also have our eye on another property in the exact same town. This one is 24 units and also above our 15% threshold.
We’re planning to get that one as well.
No work here today. Made $2 due to a sale of a book.
Amazon Affiliate Websites
No work here today. My main site is now starting to show signs of life, with ~30 visitors a day. It took ~80,000 words of content and 6 months for the “sandbox” effect to end.
That’s leading to ~5-6 clicks to Amazon a day. Now, this site is about high ticket items north of $1,000, so I’m expecting conversion rate to be low, ~2%. Either way, that means:
- 5 clicks/day X 30 days =150 clicks
- 150 clicks X 2% = 3 purchases
- Average of $30 purchase (accounting for them buying other stuff) X 3 purchases = $90/in driven goods
- $90 X 5% commission =$4.50
So this site is generating $4.50 a month and I’ve spent hundreds of hours and thousands of dollars getting there.
Clearly not a great ROI on my time yet, but I’m optimistic I’ll start seeing some better benefits shortly. I’m also optimistic I’ll get to 10,000 visitors a month over this summer. Once that happens, I’ll get the site onto Ezoic for advertising.
Then, I should see ~$10/per 1,000 visitors, or $100/month from the display ads!
Well, bummer kind of a day. My project worth $30,000, starting in a few days, got canceled due to COVID. It’s a bummer, because that $30,000 is a downpayment on more real estate.
This has been the slowest my consulting business has ever been. I really would like to sell a project, and quickly.
I made my fiancee muffins and hung out with her a bunch.
What I made today
Rental Income: $17
Amazon Affiliate sites (2 sites): $0
Today’s pro-rated amount of monthly expenses
My plan for tomorrow
More eBook time. I think I’m going to outline ~4 more books for my two authors to write this month.
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 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.