What I did today
Yesterday was a positive day with some added income I wasn’t expecting, so that’s always a big plus. It’s got me more excited, which is also very good!
There are also lots of really great and exciting things going on from a real estate perspective, so I’m loving that as well! I think things can end up going well, I just need to do a ton of work. There are clear goals and objectives and a clear path forward. I just need to execute and hit those clear goals and objectives.
Wake up & sleep:
I took my watch off, so I didn’t have it tracking when I was asleep. My guess is it was roughly 7 hours of sleep a night, but I’m not 100% sure on that.
Lesson learned: wear your watch at night if you want to add insight into a case study!
Limited here. I actually haven’t worked out the past few days, which isn’t particularly good. I really should do that!
Got the veggies from Instacart, had morning coffee, made some pancakes with berries for dinner, had a cookie or two.
It wasn’t horrible by quarantine standards. When not in quarantine, I’d love to go straight plant-based as much as possible.
My Day Job
There were a couple of company all staffing meetings via Zoom, so that was fun. I’m still optimistic I won’t get laid off, but I also don’t think the company is in a strong position at the moment. We’ll see what happens. Until the company either succeeds or fails, I’m just going to keep doing my thing and milk this for as long as possible.
Investment real estate
We didn’t buy anything today or talk with our property management team. In actuality, there wasn’t any action here today at all.
But, on the scrolls through my saved searches, I found a couple of really great buildings. These were in the 20-40 unit range, typically $1.1M-$1.5M.
I want to buy these ASAP.
The reason why is the scalability and stability.
On the scalability, it’s great to have all the units in one place. Fixing one roof on 24 units is better than fixing 24 roofs. Dealing with one set of LLC papers is easier than dealing with 24 sets of papers. It’s much more scalable, which is exciting in my book.
The other benefit is stability. With 24 units, even if we have 10 vacant units, there are still 14 people paying rent. That should be enough to cover all of our payments.
So, my goal is to own all of these buildings ASAP.
My forecast model at home says that could be possible to have two of them before the end of this year, assuming I keep my job and keep selling some consulting work.
With more work done and more income coming in, I think next year could add ~2 as well.
That gets my fiancee and me to close to 100 units by the end of 2021. If we get there, then I’d be pretty confident we’re on track for $10K/day at 30.
I did a bunch of keyword research though for the next ~10 covers for ebooks; of which, 8 of which are now being written or in the writing process.
Once those are all done, I’ll hire someone to manage my Amazon AMS advertising.
Amazon Affiliate Websites
I published one article, which isn’t enough. Including my post here, that was ~2,000 words published.
My model says I need 5,000 words a day published each day this month to stay on track for my content plan. With that in mind, I really need to ramp up the publishing to stay on track!
With that publishing amount, it should get me to ~$10,000 a month in income by the next year. So, let’s keep grinding and working here.
Publish, publish, publish.
I had a couple of hours of follow up work here today, for which I got paid to do. I absolutely love that because it makes such a difference to the bottom line. This ended up being one of the bigger days in terms of pure dollar amounts, but that is recognizing that I’ve done a lot of work on this project in past days. Some of this income/earnings should really be put on some of those past days.
Fiancee time-I made her cookies today.
What I made today
Rental Income: $33
Amazon Affiliate sites (2 sites): $0
Today’s pro-rated amount of monthly expenses
Once I pay off my debt, I’ll break out expenses into a line by line as well.
My plan for tomorrow
Tomorrow needs to be around ~5,000 words of content published, day job work, and some ebook prep.
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.