Episode 157: The Passive Income Puzzle on The Bullcast Podcast with Dr. Jen Salisbury
Summary
In the final installment of the trio series guesting on The Bullcast Podcast, we’re diving deep into the world of passive income—what it really is and how it works. We kick things off with a look at famous side hustlers and self-made success stories, from the inventive Joy Mangano to the ever-hustling Gary Vee. Then, we break down the different types and levels of income and explore why staying engaged is key. It’s a puzzle worth thinking about, so press play to join the conversation!
Join me on the Bullcast Podcast’s Episode 264: The Passive Income Puzzle (with Dr. Jen Salisbury)
Listen to the full episode :
This Week’s Blog Post:
There’s No Such Thing as Truly Passive
Hi friends! I’m Dr. Jen, and in this episode of My Life as a Landlord, I joined the Bull Cast podcast again to tackle one of my favorite myths to bust: passive income. People often imagine it as mailbox money—just watching the checks roll in without lifting a finger. But the truth? That version of passive income only exists on your tax return. In real life, every stream of income—whether it’s real estate, dividends, or a business—requires attention, action, and intention.
Famous Hustlers and Self-Made Stories
We had fun diving into examples of real-life and fictional hustlers. From Julie Powell and Joy Mangano to Gary Vee and even the cast of Silicon Valley, we explored how these stories might look like “overnight success” but are actually fueled by consistent work and creativity. I shared my admiration for Christopher Gardner from The Pursuit of Happyness—his sheer determination is unforgettable. Whether it’s blogging, selling on QVC, or flipping garage sale mugs like Gary Vee, every so-called passive income stream started with active hustle.
What Passive Income Really Looks Like
We broke down the three types of income: earned, portfolio, and passive. Even if you’re earning rental income and not self-managing, someone has to handle the logistics—and you still need to manage that someone. I gave the analogy of putting your car in cruise control and going to sleep at the wheel. That’s what too many people do with investments, thinking they’ll just “set it and forget it.” But whether it’s a rental or a limited partnership in real estate, you need to trust but verify. Delegate, yes—but stay engaged.
Creative Side Hustles and Zero-Capital Startups
We also talked about the beauty of starting with almost nothing. Whether you’re a window-washing teen in Maui or flipping thrift store finds online, there are so many ways to create income from creativity and effort. Real estate might be my industry, but hustle lives in every field. From Etsy shops to digital courses, there’s no shortage of side hustle potential. But again, none of these are passive—you’ll have to build systems, maintain momentum, and care about your results.
Aligning Investments With Your Values
Toward the end of the episode, I brought up something close to my heart—values-aligned investing. I want to make sure my money isn’t profiting off exploitation or industries I don’t support. Whether it’s ESG (Environmental, Social, Governance) considerations or simply knowing when your dividends hit or what assumptions are baked into your investment returns, you have to stay aware. Passive income isn’t hands-off if you care about where your money is going and who it’s affecting.
This episode was recorded in Memphis, Tennessee. Why? Because real estate takes you places. Where do you want real estate to take you?
Join me next time for Episode 158, where we’ll jump into another practical topic for landlords and curious investors. I’ll see you there!