When Most People Think Passive Income They Think Real Estate Or Stocks
The thing is though, those two avenues of wealth-building are generally reserved for those with high disposable income. What If I told you there is a way to make residual money without spending 100’s of thousands of dollars. This strategy is what allowed me to go into semi-retirement a few years back. Of course what I am talking about is having your very own app investment portfolio!
What Is An App Investment Portfolio?
Simply put, an app investment portfolio is a collection of monetized applications that bring you consistent cash flow. This could be in the form of ads, in-app purchases, affiliate links, or subscriptions! This is done by either creating the apps yourself (much higher return, much more time to implement) or buying an app, fix it up and make that $$$$!
I actually do both, as you know if you follow my brand I have multiple apps that I have created that bring in consistent revenue including but not limited to:
These applications, provide a great cushion for my active income and overall bring my peace of mind up. I own a company called J Computer Solutions LLC, which in turn owns all of the apps I wrote. I do this because all of my contracts are owned by J Comp Solu, in the event that the company loses its contracts I want to be able to still pay myself on payroll with the app revenue. Also, there are more tax advantages but I’m not a tax professional, talk to your CPA. My goal is ultimately to have J Comp Solu’s applications making all of the gross revenue and will no longer take on contracts. If my company makes passive money then my paychecks are GUARANTEED!
Stop Trying To Be A Billionaire & Focus On Paying The Bills
Listen most of the time it’s going to take a while to make anything meaningful revenue-wised from your apps. Where I see a lot of people get discouraged and fail, is that they expect their app to makes $10,000 a month the first month! Stop trying to be Jeff Bezos and do the bill method.
What Is The Bill Method?
The bill method is a method I came up with when creating my app portfolio. Basically, the bill method is described as thus:
- List all of your bills and their average monthly cost
- Create a monetized app(s) that focus on paying one bill at a time
- Once every bill is taken care of, grow app to pay 3x monthly bill
To me, financial freedom isn’t having a million or billion dollars, in fact, I believe most people are slaves to their wealth. My version of financial freedom is me creating something of value and having that pay for my existence. Anything after that is great but as long as I know I have a roof over my head, food in my belly and I can spend all my time with my family and friends I’m straight.
I’m Not A Software Developer, Can I Still Make Money Online With Apps?
If you are reading this and you don’t code you may be thinking “Does this mean I’m SOL?” and the answer to that is NO! There are plenty of websites such as Flippa where you can purchase websites and apps that are cash flow positive! If you have the capital to go that route and you know a developer to partner with *cough cough* the two of you can make something shake!