Residual Income With Apps Is A Hot Topic Now
Since i have made this thread last year about app investing I have been drowned in requests to get in on the action. I decided to take two routes. The first being my business partner Ricky Mason and I are creating a blockchain powered investment app called 401KApps which will allow anyone to invest into apps and allow app developers to raise money all in a decentralized manner. Secondly I started a community called The Code Life Group which comprises of a daily app pick of the day email, access to my Discord group and a special app investment channel and weekly calls talking about investment strategies.
I am giving some free game on choosing residual income apps for your digital portfolio. Keep in mind I am not a financial or investment advisor and these strategies are personal things I look for when I am choosing apps or websites to buy.
The first thing I look for when choosing an acquisition is how much time I will have to spend on said app/website once I purchase. The whole point of living a #CodeLife is that I don’t want to work, I want my apps to work for me. It defeats the purpose if I buy a job.
If the app/website generates enough revenue where I can feasibly outsource the maintenance work, then I will still consider the purchase. I just have to ensure the left over profit is enough to justify the spend.
The next thing I look at is how scalable the app or website I’m looking to purchase is. Can I grow my potential earnings and if so by how much? This is a big factor because I try to find the apps that haven’t been given much attention but could easily scale up.
Lastly when I’m choosing a residual income acquisition I look how much I need to spend in advertising to generate the revenue I desire. This applies heavily to drop shipping websites where marketing is the bulk of the work. I tend to stay away from these types of purchases because I prefer a more hands off approach to my app investing.
These aren’t all the strategies I use when adding to my app portfolio. If you want full access to my tips and strategies I suggest you join my Code Life group. Please leave a comment, like and share.
Code Life Membership
- Start investing in apps and living a code life today! With your Code Life membership you will receive exclusive info from me on a monthly basis how to live a code life. This includes:
- app picks of the month
- invitation to my discord channel with a special role
- access to my weekly close entrepreneur call.
- 50% off my 1:1 consultations.
The future of investing is digital assets. Join a network of engineers, investors and visionaries to grow, network and make money with.