Atm meeting today!

Posted on 17. Dec, 2009 by in Passive Income, Random Ramblings



Well I made some calls yesterday and I secured a meeting with a local pizza shop. We’re meeting today at 2pm to go over why they should let me (us) put our atm there. :-)

My new broker, Vince, actually referred me to this place. I called him the other day as a buddy of mine was looking to talk to him and potentially join his company so I was just following up to see if he spoke to him. In the meantime, he asked if I ever got in touch with the folks he referred me too about the atm. I said that I spoke to one place and they told me they had an atm for a year now but just haven’t put it in. Then he said ok well what about this place. And he gave me the owners names and he told me he even told them about me already and that I’d be contacting them soon.



I like this guy lol Anyway, meeting is set for 2pm. Hopefully, they say yes because we’re paying monthly for a modem that has no machine attached to it! I mean it’s only 20 bucks, but it’s 20 bucks that should be profit!! Know what I mean? You live and you learn.

A couple lessons I learned about the ATM business so far:

1) Don’t buy a machine BEFORE you have a place to put it, yes even if the machines are on sale and it’s an awesome deal for them!

2) If you don’t listen to rule #1, then don’t get your modem activated until after you find a place to put the ATM.

The other places I followed up with were either a) not interested or b) they are still trying to speak to the owner about it. I get that a lot when visiting hotels, but usually I can get to the GM who can make a decision or get to the owner a lot faster.

Flippin’ Carey

P.S. If you’re wondering about how much we make from our atm’s I’ll tell you. Last month it was $802 on 4 machines. So they average about $200 / mo. Most machines only have about $1000 to $1500 cash in them and if you’re making $200 / month on that cash….who wants to figure out the return on that money in the machine? Btw, each machine doesn’t do $200 / mo. The chinese place does about $480 a month (that’s a 50/50 split deal tho) and the strip club does about $440 a month (no partnership splits there.) The other 2 places are anywhere from $80 to $120 per month each. So we figure the strip club and the chinese place are actually going to pay off ALL of our machines for us.

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11 Responses to “Atm meeting today!”

  1. Shae

    17. Dec, 2009

    Good stuff, Carey! What is your overall goal with these ATM machines? Are you looking to have 10, 20, 30 of these?

  2. Flippin' Carey

    17. Dec, 2009

    Hi Shae,

    Well the goal is to make $5,000 a month in passive income from the atm’s. So, we’re thinking perhaps 25 to 30 machines?

    Right now, we’re planning on buying 5 a year, plus adding an extra 1 to the number of machines we buy each year. So we bought 5 this year, next year we’ll plan on buying 6 and then 7 the following year and so on.

    Now I’d like to tell you that once we reach that goal that we’ll stop buying machines but I doubt we will. I mean as of right now it’s just a habit to scope out decent places for atm’s….I doubt I’ll ever get rid of that habit ya know?

    And if we are making $5k a month in passive income and we come across some more decent places for an atm, you can bet your behind that we’ll be installing more atm’s lol

  3. Scott Costello

    18. Dec, 2009

    Question…

    Who’s money is going in the machines? you know to disperse to the people using them? If it’s yours does the bank pay you back?

    always wondered that

  4. Flippin' Carey

    18. Dec, 2009

    Hey Scott..

    It’s our money that goes into the machine. That’s why I said to figure out your rate of return on the $1,000 you put into the machine that throws off $200 for you every month. Ask your bank if their cd’s will give ya that return? lol

    The money gets dispersed to the cardholder via some background shit that goes on. We have nothing to do with that, there’s a 3rd party (called an ISO) that handles the transaction from the customers bank account to our bank account.

    During the week, the money that the customer withdraws from our machine will show back up in our account within 24 hrs. On the weekend it takes a little bit longer, but is always there by Monday. Our surcharge fees that we charge and get paid shows up for the entire month on the 10th of the following month. So on December 10th, we got paid for all of Novembers surcharges which totaled $802.

    Does this all make sense?

  5. scott

    21. Dec, 2009

    How much investment would it take to get started with Atms? Sounds like an awesome business.

  6. Flippin' Carey

    23. Dec, 2009

    Hey Scott,

    It’s actually not as much as you might think. You’re gonna need just for one machine probably about $4,000 to $5,000…that’s an estimate, cuz I obviously don’t know the shipping charges for the machine.

    Now if you wanted to get started cheaper on your first couple of deals you just partner with someone (like me :-) that’s how we did it our first 2 deals because a) it was cheaper and b) we had no clue what we were doing so we decided to partner on our first 2 deals so we could learn the business. Now we do all of our deals by ourselves…it costs more money per machine now, but that’s ok.

    Let me know if you have any other questions.

  7. scott

    23. Dec, 2009

    I noticed some Brand New Machines on Ebay for around $1500.00 Would there be a reason ou couldnt use those?
    If you found the right spot I could see that bein a hue money maker!

  8. Flippin' Carey

    23. Dec, 2009

    Scott,

    You can actually buy your machines from wherever you want. What you need to know is that when you purchase that machine from ebay, they will require you to sign a processing agreement with them (whoever they are.)

    You’re gonna have to sign a processing agreement with someone, but for me personally, I like to know the company I’m dealing with and know that they have a good reputation and that their customer service is good and that they’ll be there for me all the way, especially when there are problems (plus that I know someone that has been using them for years with much success.) Know what I mean?

    In then end you’re gonna have to buy a machine from someone though, sign a processing agreement with someone and you’re also going to have to either a) sign up for a phone line for each machine and pay the monthly fee or b) buy a modem for each machine and pay the monthly fee as well.

    I don’t know if that answered your question or not, but the final answer is: No, there wouldn’t be a general reason why you couldn’t use one of those machines from ebay.

    I’m glad you are doing some research and seem serious about it! And you’re right, if you find the right spot it WILL be a huge money maker.

    Let me know if you have any further questions or if you’re thinking about a partner on a deal or two.

  9. Flippin' Carey

    23. Dec, 2009

    Oh and I almost forgot, they will require a background check, etc. on you. Some companies charge for that, some don’t. Just depends on the company. If they charge it’ll be something like 25 bucks.

    It has to do with the Patriot Act…they want to make sure you’re kosher and all lol and not some money launderer who is buying machines for that purpose or other not-so-legal activities.

  10. Charles

    08. Jan, 2011

    Hi Divas, I am very interested in the atm program,but for some reason i can not access it.I fill out the form on your site
    and it indicates i applied but nothing comes.Once more.It may
    be some sort of glitch or something.So send it again i am ready to get started.Happy new year ladies and god bless.
    Charles and Mattie

  11. Carey

    08. Jan, 2011

    Hmmmm Charles and Mattie I don’t know what the problem is. I got your last email and I emailed you personally the link you needed for the report. Did you not get that?

    Let me know if you didn’t and we’ll figure something out. Thanks!

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