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!