Author Topic: The 5 am Club  (Read 34618 times)

Koidragon

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Re: The 5 am Club
« Reply #40 on: January 08, 2020, 09:08:24 AM »
My 5 AM CLUB project is to develop a product/system that will consistently generate a passive income that is scalable. 
I have had this as a long term goal and every so often would go back to it, make some changes, and then it just sits there.  I decided that this was the right project for this forum. Steps taken to date:

1.  Review content/efforts compiled over last 5 years.
Wow!  Talk about spring cleaning! And stuff all over the place!  Looked like an internet hoarder's paradise :o

2.  Created and organized list of content/assets/resources etc.
Not perfect, but at least I got it going.

3.  Identified 3 Top 90-Day Priorities:
This was inspired by Louis Gerstner's "Who Says Elephants Can't Dance"  ... which I read this summer (it had been sitting on my bookshelf for many years).  In his case it was Top 5 90-Day Priorities. I do not have the equivalent of an IBM machine to put in play, everything will be done by me.

i.   Change site to blog-driven - done
ii.  Publish 1 blog/week  (get a head start so that I always have 10 blogs ready & scheduled for publishing)
- Work in progress
iii. Create lead magnet to post on site.
- list options for consideration

My biggest hurdle?  Overwhelm.  Sat down for what seemed like an hour of nothingness - then decided that I don't have to get it right, I just have to get it going.  I've been there before.  It worked before. I am confident that it will work again.

Sam

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Re: The 5 am Club
« Reply #41 on: January 08, 2020, 09:27:53 AM »
Koidragon - "I just have to get going" BINGO!
Regards,

Sam

novarealtorMNM

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Re: The 5 am Club
« Reply #42 on: January 08, 2020, 05:36:10 PM »
8 January

5am wake ups have been going every day this week.
- Daily gratitude and morning devotion
- Working through Rebus University Certified Buyer Agent course
- Hip Hop beat cook up
- Coffee

Shannon

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Re: The 5 am Club
« Reply #43 on: January 08, 2020, 07:10:53 PM »
Hello 5 a.m.ers:

    The magic hour eluded me a few mornings this week, like today, when I darted out of bed at 4 a.m. with my phone buzzing from an Air BnB inquiry. I thought "I may as well get up," brewed some coffee, then promptly fell asleep! Nonetheless, I made it a few times and expect the habit will start to stick.  In any case, my commitment to post at least every Wednesday is keeping me accountable. Here's the summary:

1. Old business: I moved the funds from my oldest child's 529 account out of the stock market and into asset protection. This was overdue as she is a high school senior who will need the funds by fall.  We got lucky and road the wave up during the months when we really should have been outta there. Well, now it's where it belongs. I also listed an apartment for rent that needed to get on the market for some time but I had been distracted with other tasks. It's getting tons of calls and I expect to identify a  solid, rent-paying tenant within a week.

2. New business: We are moving right along with our new investment property and having fun in the process! We drained the swamp this week, i.e. the backyard swimming pool that was green with neglect. I love that pool. It helped us knock the sales price down, down, down and when it's all said and done, we'll get to swim :-)

3. Something for others: I volunteered to lead a committee and small fundraiser at my church. I had been sitting on my hands in the back hoping no one would call on me but someone finally did. I really do want to be of service, I was just reluctant to commit more time anywhere. Happily, Instead of feeling burdened, I feel glad that I am contributing more. I remember a respected former boss of mine saying: "Anyone can say 'no!' That's assertiveness 101. We want to figure out how to say 'yes'!" Indeed I do.

J.R.

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Re: The 5 am Club
« Reply #44 on: January 09, 2020, 02:53:54 AM »
Checking in....1/9/20.

Accountability: Slipped a little.  In the evenings, Wife and I have been watching a series on Prime called the Expanse.  Liking this a lot as wife and I are SciFi fans.  But, for example, last night I was "going" to bed at 10 instead of being in bed at 10.  Hit the snooze twice this morning instead of jumping up at 5am.  Actually enjoying this time with the wife, so not all bad.

Other things getting done:
  • Adding another car to the family fleet since we have kid driving now.  Bought from family member living 7 hours away.  Hitched a ride down there, stayed over, got up at 5am and drove it home.
  • Reworked our auto and home owners insurance because of said car.  Stayed with same independent agent but changed carriers, policies, deductibles, etc.  Tip for others: even with an agent you trust, you have to ask the right questions about whether you can save with other carriers or higher deductibles.  Definitely got some savings by going through this slightly painful process.
  • Reading a new book- Range: Why Generalists Triumph in a Specialized World by David Epstein.  Got from the library but I like it so may add to my home library.  Goal is to read at least 1 book per month in 2020.

Next up: dealing with a major problem at one of the rentals.


newalker0407

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Re: The 5 am Club
« Reply #45 on: January 11, 2020, 05:34:53 AM »
  • Organized all of my personal and business related documents for 2019 taxes.
  • Worked on my machine learning for data science and analytics course.
  • Reduced our monthly expenses. The goal is to build up a dividend paying stock portfolio with the savings to create an additional income stream.

JARoss01

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Re: The 5 am Club
« Reply #46 on: January 11, 2020, 11:53:19 AM »
Only was able to make it two days this week due to a myriad of late night activities at work.  But starting again on Sunday bright an early at 5am.  I am completing a master manifestation course and continuing to plan my trading day prior to the opening of the markets.  My thoughts are clearer and my days run smoother.  I am still seeking a good system to identify flip properties in my area.  Sam, I appreciate your advice for using REIT's on my previous question.  I am already using Fundrise  but also want to identify flip properties in Northern Va and a good system to use for this.  These are the three areas I focus on during my time from 5 am -7 am.

Thanks Team....James

Sam

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Re: The 5 am Club
« Reply #47 on: January 13, 2020, 05:26:02 AM »
SAHM #1! Anybody who can care for someone 24/7 for years and wake up every 1-3 hours to feed and pump for months is a hero. I only do two 8 pm - 8 am shifts a week besides regular day car and am delirious and useless. Cannot think or write anything at the moment... ZzZzZzz

I’m falling behind on my posting schedule, but I’m not falling behind on how much I’m writing. Weekends are always tough for us because both kids are home. Will catch up once I take my son to preschool. Let’s go!
Regards,

Sam

J.R.

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Re: The 5 am Club
« Reply #48 on: January 13, 2020, 10:29:25 AM »
SAHM #1! Anybody who can care for someone 24/7 for years and wake up every 1-3 hours to feed and pump for months is a hero. I only do two 8 pm - 8 am shifts a week besides regular day car and am delirious and useless. Cannot think or write anything at the moment... ZzZzZzz

I’m falling behind on my posting schedule, but I’m not falling behind on how much I’m writing. Weekends are always tough for us because both kids are home. Will catch up once I take my son to preschool. Let’s go!

Keep doing what you're doing, Sam.  It's so cliche but the time will get away from you.  My oldest is 17 now and has started driving.  I used to enjoy the time with the kids in the morning driving them to school.  Now daughter drives all three of them to school.  What just happened here? 

Power through the sleepless nights.  You'll wake up in a few years and say: "What just happened here?"

I've been told that time accelerates as you get older.....and the kids get older.  I am feeling it now and am understanding what others were saying.  Hard to articulate in words.  Time is accelerating.  Perhaps that's why I feel even more strongly to go harder and faster....trying to keep up with time.

I didn't think of it this way but our 5am club is helping.  Originally I was thinking I wanted to be more effective.  But it's also helping in the evenings.  That feeling of being caught up allows me to spend more time in the evenings with wife and kids.  Previously I felt guilty for not being productive in the evenings when I knew there was a backlog of stuff that needed done.  Now I know the stuff is done and I can focus more time on them without nagging feelings in my head.

I hope we keep this thing going.
-JR




Sam

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Re: The 5 am Club
« Reply #49 on: January 13, 2020, 10:52:28 AM »
Thanks for the perspective JR! We definitely going to make the most of our time, especially now that we are getting more of it waking up so early  ;D
Regards,

Sam

Austin

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Re: The 5 am Club
« Reply #50 on: January 14, 2020, 04:48:56 AM »
Week #2 Update

I bombed getting up by 5am this week until my daughter got sick.

I found out my 2 year old daughter has asthma. It was scary watching her unable to ever catch her breath. Went to the doctor, got a nebulizer and was instructed to give her treatments every 4 hours until an appointment that happened last Monday.

I learned that I can get up early if I really want to. Earlier in the week I was not getting out of bed by 5am. After I learned my daughter was sick I had no problem getting out of bed to give her treatments, which, by coincidence, fell on 5am. There was no struggle, no thinking about setting the alarm for 6am instead. As soon as the 5am alarm went off I practically leaped out of bed to make sure my daughter gets her medicine.

I am now trying to channel that same sense of urgency towards my 5am projects. Because I know on a logical level I should have that same urgency. Things are going to happen to my family in the future, and taking care of business now is how I protect them.

Anyway - this week I finished two articles for my new website that hasn't launched yet. I also did some technical work on the website and am starting to get the design in place.

And FYI - thanks for everybody that has been sharing. I've enjoyed reading everybody else's progress!

Sam

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Re: The 5 am Club
« Reply #51 on: January 14, 2020, 07:22:02 AM »
Did the 9pm - 7:30am shift so far. Tough.. but edited a couple posts for publication this week and preparing newsletter.

Irony of doing the graveyard is that it's unnatural, therefore, I get more work done.

Good insights Austin about springing to action b/c of your daughter.

I have asthma too. See this for some help: https://www.financialsamurai.com/how-to-treat-asthma-allergies-and-copd-as-an-adult/

Nothing is more motivating than our children.

Any other stay at home dads out here who are also the sole income provider? If so, curious how you guys do it. I feel bad wanting to go back to work to take a break from full-time fatherhood after 6 months, but it is hard work and most men I know go back to work within 1-3 months.
« Last Edit: January 14, 2020, 05:01:42 PM by Sam »
Regards,

Sam

J.R.

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Re: The 5 am Club
« Reply #52 on: January 14, 2020, 10:13:00 AM »

I found out my 2 year old daughter has asthma. It was scary watching her unable to ever catch her breath. Went to the doctor, got a nebulizer and was instructed to give her treatments every 4 hours until an appointment that happened last Monday.
...
Things are going to happen to my family in the future, and taking care of business now is how I protect them.

Austin, keep the faith, brother.  Been there.  I know that scared feeling for your kid.  You'll be surprised at the resilience of the kid.  Everyone will come through ok.

When you think about it, modern medicine is really quite remarkable.  Just my opinion but I think we are headed into the real golden age of medicine.  Prediction: Cancer and many other things are cured in our lifetime.  I'm trying to cultivate that positive abundance mindset.

I read this book a couple years ago.  Think I may reread it this year.
Abundance : The Future Is Better Than You Think
https://www.amazon.com/Peter-H-Diamandis-Abundance-Paperback/dp/B01FOD4HLK

I'm also trying to use the 5am time to plan, think, act on projects that will ensure my family's security for the next generation.  I'm also starting to think about legacy....beyond the next generation  This gets tricky.  How do you provide security and a safety backstop without taking away the benefits of hardwork and struggle?

Good luck,
JR


J.R.

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Re: The 5 am Club
« Reply #53 on: January 16, 2020, 02:48:19 AM »
Checking in....1/16/20.

Accountability:  Continues to get easier rolling out of bed at 5:00.  Actually waking up without the alarm a little before.  Getting up between 6:00 and 7:00 on the weekends.  I'm actually having a harder time getting in to bed at 10 than I thought I would.  Means I feel tired at 5am.

Progress:
  • Completed everything for new auto insurance.  Changed carriers, coverages, deductibles and added the kid as a driver and the additional car to the family fleet.
  • Finished reading the first book of 2020:  Range: Why Generalists Triumph in a Specialized World by David Epstein.  Borrowed this from the library.  May add it to my own home library.

Next up:
  • Finalize new homeowners and umbrella insurance at end of January.
  • Start organizing docs for taxes.  This will be my first year with the LLC for the rentals.
  • I think my property manager has the problem at one rental under control.  Fingers crossed.
  • Prepping for a job interview next week.  I suspect it won't go anywhere due to geography.  But I'll go see what's up anyhow.




novarealtorMNM

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Re: The 5 am Club
« Reply #54 on: January 17, 2020, 02:27:11 AM »
Checking in: 01/17/2020

- podcast editing and blog writing
- running comps for an open house this Sunday
- scheduling showings for rentals tomorrow
- Spanish practice
- gratitude journaling

Sam

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Re: The 5 am Club
« Reply #55 on: January 17, 2020, 06:47:37 PM »
Checking in 1/17/2020: SICK AGAIN! Got a chest cold from my son who is in preschool. So many colds in preschool.

Missed post day today, Friday, but will make it up on Saturday 1/18. Publishing 3X a week is publishing 3X a week!
Regards,

Sam

newalker0407

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Re: The 5 am Club
« Reply #56 on: January 19, 2020, 04:40:57 AM »
1/19/2020 Update:

  • Worked on my machine learning for data science and analytics course.
  • Finished cleaning our basement which I've been putting off for months.

novarealtorMNM

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01 / 21/ 2020 - The 5 am Club
« Reply #57 on: January 21, 2020, 02:59:27 AM »
All cylinders have been overheating for the last week. Yesterday was family day so I spent my 5-7am with my wife. I realized that I have to be as committed to my family with not only the same time-blocking rigidity, but with the same passion and energy. So Mondays are my rest/family day.

Today, 5-7am is learning and researching for a listing presentation at 5:30pm.

Shannon

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Re: The 5 am Club
« Reply #58 on: January 22, 2020, 06:42:45 AM »
Count me among those dealing with a sick child this past week.  We're generally out of kilter here, but managed to make a little progress on the financial front:

Old biz: Moved some of the kids' college money out of a self-directed CESA (we failed as money managers) into their 529s which have a much better performance record. Also, finally put an apartment on the market after dawdling for a bit.  I was absolutely slammed with well-qualified applicants. Probably could have raised the rent but I prefer to have my choice of enthusiastic applicants rather than try to bleed every last dollar out of a tenant who grumbles about everything because they're paying too much. After more than 20 years of landlording in which I've collected close to 100% of the money owed me and only had to undertake 1 eviction, I'm sticking with what works!

New biz: Opened a new IRA. Trying to discipline myself to invest more outside of real estate. Also spent some time working on our latest real estate acquisition. It's not yet rent-ready, but we've owned it less than a month so from that standpoint we've made excellent progress.

Something for others:  Moving right along with the church fundraiser. It's led by the children of our congregation. The idea is that they will pick an outside organization to whom half of the money will be given. It's been interesting to talk about how to do this in a way that feels "fair" to the children. There needs to be a consensus, otherwise we dilute the power of having done this as a group. But a straight-up vote is biased towards the views of the older, more outspoken kids. I'll let you know what we come up with when the campaign ends in February!

Koidragon

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Re: The 5 am Club
« Reply #59 on: January 23, 2020, 09:15:23 AM »
Accountability checkin ...

1. Don't know what happened between Jan 08 and today ... seems like the new year is testing me already!  To begin with got hit with whatever the bug of the year is, whole week of bed to couch, liquids (lots of hot tea and brandy) and finally, was able to have some good ol chicken soup and recovery picked up speed.   

2. 5.00 a.m. job one was to get some blogs finished.  Thought this would be a snap.  Had several unfinished drafts from before.  But suddenly what I thought would be as easy as 1, 2, 3 wasn't.  My job one objective was to write/publish 8 - 12 pillar posts, each leading to the next in a sequential manner.  Hah!  Those unfinished drafts were all over the place!  Nothing sequential about them.  So much for that 1, 2, 3!

3. Today finally back on pace both in terms of crushing that bug, clear headedness and tada!  First pillar blog done!  Not published yet - in the bag! 

Next to do: 
1.  Pillar blog #2
2.  final edit of book of which I am co-author.