Buying Your ATM with Private Money

Posted on 29. Jul, 2010 by in Atm Deals, Private Lenders

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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3 Responses to “Buying Your ATM with Private Money”

  1. Shae

    29. Jul, 2010

    Love it 🙂
    .-= Shae´s last blog ..“No Monkey Offers” Returns! =-.

  2. Jamie

    17. Oct, 2011

    Great post! I’m curious what type of terms you’re offering to your private money lenders for your ATM business? i’m familiar with using SD IRA’s for real estate, but i’m curious to hear your thoughts on terms for ATM’s. Thanks!

    Jamie recently posted..Team Beachbody Compensation Plan-Men Lie, Women Lie, Numbers Don’tMy Profile

  3. Carey

    22. Nov, 2011

    Hi Jamie,

    Thanks for visiting. That’s an awesome question. But the reality is, just like with real estate it depends.
    The terms you use are going to be whatever a) works for your ATM business (I mean you have to be able
    to pay it back right?) b) plus whatever works for the investor with the self-directed IRA.

    So you’re length of time, interest rate and monthly/quarterly/yearly payment may very well be
    different for each investor.

    I won’t go into interest rates that I pay my private lenders (because I lose negotiating power with
    others lol) but I will tell you both private lenders that I now have for my ATM business I pay
    MONTHLY and they both have 3 year TERMS.

    Hope this helps! I don’t think you are an member, but we just
    did an awesome call with my students over there on private money for your ATM business.

    Perhaps someday, I’ll make it a public replay, but for now, it’s just for students.

    Thanks again Jamie for visiting.


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