‘Shark Tank’ Star Daymond John: 3 “Shark Tank” Star Daymond John is an expert on making great investments. With a net worth of around $350 million, it’s also no surprise that he’s excellent with passive income strategies.
With personal wealth of that magnitude, it may seem like John’s side gigs and passive income streams are out of reach, but his strategies can work for anyone. Here are three ways you can learn from his philosophy to increase your cash flow with passive income ideas.
Find Out:5 Ways To Make $50K a Year in Passive Income
Creating Resellable Content
Just like former fellow “Shark Tank” shark Mark Cuban, John is no stranger to generating passive income. He doesn’t speak much about these strategies publicly, but you can learn from what he does.
John has written seven books. This might not sound like a passive income strategy because writing a book can be a lot of work, but now that they are finished, he’ll continue earning income from them for as long as people purchase them. After the upfront investment, online platforms and companies pay him to speak about the financial advice he has written about.
You can write a book or e-book as well or focus on other types of content that are highly resellable. You’re probably an expert on something that you could write about for make money
off that guide without any additional work for years.Real Estate Investments
John owns a massive estate in New York and makes other private real estate investments. This shows he believes in storing a significant amount of his wealth in the asset class.
You may not have the capital to acquire a full apartment building. However, there are apps now that let you buy a part of income-generating residential properties for much less. Once you purchase a stake in a property, you’ll get a split of its profits until you sell.
On a smaller scale, you could also rent out your spare room. This extra income could cover your utility bills, a portion of your mortgage payments and help you pad your savings account each month.
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