Have you been thinking about getting into the ATM business but you don’t have the money? What about using Private Money to fund your atm deals? Yes, that’s right. I’m talking about the same private money that we think about when trying to fund our real estate transactions.
Wondering why I’m suddenly bringing this strategy up out of the blue? Think you know the answer. Yep, you’ve guessed it. These 2 machines that we are buying for the cash only ice cream shops that I mentioned in my earlier post….well we are buying them with the help of a private money lender.
And guess what? Our private money lender is using their self-directed ira to fund the transactions. Hmmmm have we heard about that before? Yes we have. We hear about it all the time with real estate deals!
So I just wanted to let you know that before you think you can’t get into the ATM business because you have no money…..well just remember, you probably know people who have money or at least have money in an IRA or 401K. And you can help them roll it over into a self-directed IRA so they can fund your next ATM deal. Cool eh?
P.S. If you’re wondering why we wouldn’t use our own self-directed IRA to fund our ATM deals it’s because we want the passive income that our ATM’s are providing and if we loan our ATM business money from our IRA’s than 100% of the profits have to go back into our IRA’s. And that isn’t helping our passive income needs. BUT someone else can use their IRA’s to lend us the money and we just pay their IRA back as a loan.
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