Update on our ATM business

Posted on 05. Jul, 2010 by in Atm Deals, Passive Income



Ohhh and as far as our ATM business goes…….we’re now seeing about $1400/mo. from the machines, which does take into account our expenses. So since we have 6 machines that boils down to about $233 a month per ATN. Now grant it they don’t ALL throw off that much money, I’m just saying it averages out to that per machine. (Note: when I say all expenses I’m not including gas/mileage. I haven’t quite figured that part out yet. Since working at BMW tho we’ve been structuring it so we make less visits to the machines so that’s working well.)



I was thinking today that if we could get each ATM to at least throw off $100 of positive cash flow to us every month that would be awesome. Since Kathy and I split the profit it’s like I’m making $50/ per ATM a month. Doesn’t sound like a lot, I know……..but I’m saying it’s the bare minimum we’d like to see….don’t forget you’ll have machines that crush that mark (i.e. our strip club, chinese restaurant and 2 other cash only locations.) But as a bare minimum I think an ATM throwing off $100 a month would be cool.

If you’ve read my other ATM posts before you’ll know that I tell you that you are NOT going to get rich off of owning just 1 ATM. It’s just not going to happen (in your lifetime anyway lol.) So when looking to get into the ATM business make sure you give yourself a plan. I.E. How much money do you want your ATM’s to throw off for you each month? When you have that figure than go out and buy the number of machines necessary to hit that figure! Of course, if you’re like me where your figure will require you to buy anywhere from 30 to 50 machines and you, personally, don’t have much money, then you’re of course gonna have to buy those machines over time.

I’m in the process of working on an ATM business ebook and course with videos, audio, etc. that will pretty much help you start your own ATM business from scratch. I’ll walk you through the entire process. That’s soon to come (big shout out to Steph from FlipThisWholesaler.net for giving me that lil push to get started on creating the ebook.)

My goal is $5k a month from the ATM’s. That way I get $2500 and Kathy gets $2500 (well less because we’ll have to deduct some expenses) but you get the idea.

Btw, our new cash only restaurant that we put in the end of May had 278 hits in the month of June! We friggin’ love them! That means that just from that machine alone we brought in $556 into our business for the month of June. Cash only businesses folks…..seek them out and place your ATM’s there. You will be very happy you did.

Once I have the appropriate positive and passive cash flow that I need to live off of from my ATM’s and multi-family deals I will begin to buy ATM’s in my self-directed IRA. Gotta love that technique!

Did you like this? Share it:
If you enjoyed this post, make sure you subscribe to my RSS feed!

Tags: ,

9 Responses to “Update on our ATM business”

  1. kelly miller

    06. Jul, 2010

    So, Carey I was wonderin how the insurance on the ATMs works? And insurance on the cash while you are feeding them? (For the trip from the bank to the machine.)

  2. kelly miller

    08. Jul, 2010

    I just read previous posts and answered my question :)

  3. Flippin' Carey

    09. Jul, 2010

    Kelly I apologize for not getting back to you sooner….I’ve been dealing with a sick cat this week. My kitty cat Blade had to be taken to an emergency vet earlier in the week and he’s still there. Soooooo I’ve been a lil bit out of it.

    Anyway, I’m glad you were able to find the answer to your question but just in case someone else has the same question and can’t find the answer by searching I’ll answer the question here in this reply about insurance:

    We have one policy that covers ALL of our machines (even when we get up to 50 machines or whatever) this one policy covers them all.

    With this policy our machines are covered in case someone tries to break in or if someone damages the machine or steals it, etc.

    The machines are covered up to x amount of dollars and than the cash in the machines are covered up to x amount of dollars as well. I say x because each persons x amount will be different based on their machines they buy and the cash they stock ‘em with, etc.

    Also, we are covered for x amount of dollars if we are to get robbed on the way to filling a machine or are filling a machine, etc.

    I hope this answers your question. Btw, the policy was relatively cheap, imo. It is $500 a year.

    The guy I originally learned about this business from said he only has a liability policy for $120 a year because to cover the machines and the money cost too much money!

    I don’t know what he was quoted for a price, but I thought it was a no-brainer at 500 bucks.

    Hope this helped.

  4. mobilehomegurl

    09. Jul, 2010

    Great to hear your progress with the ATM business, Carey! That’s great about the new eBook course, it definitely sounds like a really specialized and niche focused area. Also, it’s very interesting how the insurance works with the ATMS -good stuff. And, I agree – it’s best to be covered for what’s there. I’ve known other investors to skimp on insurance in the past or not even carry it, and it’s really come back to a few in really bad situations. I guess, it’s like one of those necessary things. Thanks for sharing your progress, looking forward to reading more!

  5. Flippin' Carey

    09. Jul, 2010

    Thanks Rachel, I appreciate the kind words. Ya know I was just talking about you the other night. I’ll head over to your blog and ask my question or just shoot you an email.

  6. Shae

    21. Jul, 2010

    Great stuff Carey! In typical Shae fashion I must ask if you’ve given yourself a deadline to get that e-book done? I think it will be a great value to others and a nice passive income source for you too!
    .-= Shae┬┤s last blog ..Doing the things you despise =-.

  7. Flippin' Carey

    21. Jul, 2010

    Crap. You know Shae I did not give myself a deadline, but as usual with you, that’s an awesome idea.

    As a matter of fact, I read your comment this morning before going to work and while I was driving to work I thought to myself that it was a fantastic idea because it really “forces” me to do it. That’s what I need. I really do work better when I right stuff down……..

    I gotta get back into the swing of things and do that and definitely add the ebook to that list. Thanks Shae for that tip!

  8. Jill

    14. Sep, 2010

    Hi Carey,
    You mentioned in one of your posts that you prefer to use a reputable dealer to buy your ATMs instead of things like ebay. What are some of your favorite sources for ATMs? I’m looking at Franklin ATMs and ATMs4less, have you used either of these companies? Thanks for your help!

  9. Flippin' Carey

    14. Sep, 2010

    Hi Jill,

    Thanks for stopping by! Yeah when you buy atms from places like ebay or perhaps ads in the newspaper well you just never know what you’re getting? Is the atm single or triple DES? What kind of condition is it in? How old is it? What’s been wrong with it? Yada, yada and then of course can you trust the person on the other end with their answers. Know what I mean?

    I’ve bought machines from 2 companies. I will refer you to one because I don’t buy from the other company anymore…it’s a personal preference as I don’t like their customer service and customer service and how you treat people is important to me.

    You can call Adam Warner from ATMSI and he’d be more than happy to talk with you about machines and even processing if you’d like. Very nice guy, easy to get along with and wants to help.

    I’m not sure if he wants his cell all over the internet, but why don’t you shoot me a quick message over on the contact us page and I’ll send you his cell number. Just tell him I sent you and he’ll treat you well (actually, he treats everyone well, so he’ll treat you great! lol)

    How many machines do you currently own Jill?

    Oh and to answer your question, no I have never bought from Franklin ATM (I did buy their ebook tho; but I’m not going to mention which one was them when I was talking about different atm course in my video lol I’m sure you could figure it out tho.)

    And I never bought from ATMs4less either. I’ll continue to buy from Adam as I’m happy with him.

    I think it’s important to build rapport and trust with the person you’re dealing with and whoever you get along best with is someone that’s worth buying from, ya know? I’m not one that is about the best price always……I value customer service A LOT! (Believe me tho, I’m not going to pay some crazy amount of money for machines lol…I’m not that crazy!)

    Let me know how it goes and what you’re plans are in the world of owning an ATM business!

Leave a Reply


× one = 7

CommentLuv badge