Atm Deals Passive Income

Update on our ATM business

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 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… 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!

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Received counter offer on 34 unit!

I did the numbers on a few properties Kathy and I seen the other day with a broker. I told the broker what I was thinking 1.2 Mil on the 36 unit property, which they are asking 1.8 Mil and he said, “did you mean 1.2 Mil for the other property cause that’s do-able?” I told him that I meant it for the 36 unit, he said it would fly. So I came back later and told him, ok we could do 1 Mil for the 34 unit (that’s the one he mentions above about 1.2 Mil.) This property is listed at 1.3 Mil. He tells me, “if you can do 1.1 Mil I’m sure I can get the deal done.” Now I know I’m negotiating with the broker at this point, but the reality is I say to them “look I don’t want to offend the seller, what do you think of this offer?” So they don’t think I’m a jerk or anything, ya know?

Realistically, I think we could offer 1.1 Mil, but I think I’m more comfortable with the MAO of $1,050,000. So I countered back at $1,015,000 and told him to let me know what the seller says.

Also, had a conference call with a broker team yesterday to go over a property we saw with them. They are asking 1.6 Mil and realistically our MAO is about 1, 375,000 ish….they paid 1.4 Mil for it 2 years ago….they weren’t having it. But the broker team is super duper nice. I wish they would get us some more properties because I’d love to see them make a commission because they are so helpful, the broker I mentioned first is kind of a jerk (for now.)

I’m heading to the courthouse to see if I can somehow fanagle (how do you spell that?) a list of evictions that were awarded to landlords and they will become my new “direct mail list.” I think I really want to find MOTIVATED landlords that own apartment buildings….I know they are out there. So far only the small guys are calling me back…..I want the bigger complexes to call me too!

I have a good feeling tho that most deals will come from brokers and not what the places are listed for, but what you can negotiate fairly.

I went to Toastmasters again last nite and it was a lot of fun. I made the decision to join the next time I go and surprisingly enough Kathy told me she was going to join too! Which is really strange because she is scared crazy of public speaking and told me she doesn’t even want to get up at Tmasters. But I think she had a lot of fun there the last time I took her there so hopefully she’s coming around!

The job hunt is not going so well. Which may be a good thing? I dunno. I mean I need money BAD but I’m really not so fond of a “job” per se. I probably wouldn’t even be thinking of finding a job if I didn’t switch gears into commercial real estate. I could have definitely made a decent living from wholesaling, but switching gears into commercial real estate is like completely starting over. I mean that’s ok because passive income is where my passion is, but it is harder and taking a whole lot longer than I anticipated.

Ohhh I’ve also been working on my Gay Marriage website. I look at my adsense stats and my traffic and I see I’d be making a ton more money if I just got my traffic back up to where it used to be when I use to work on it all of the time. Plus, if I had more traffic, I could also solicit more business from attorneys and other types of companies to advertise on the site. I have a few now, but nothing major yet. So my goal is to work on that some more in the evening and get it back up in the ranks where it use to be and then start sending out emails and calling folks to advertise. I think it could be a realllll money maker if I put just a little bit of effort into it everyday (perhaps that could be my 9 to 5 job after it gets rolling while I concentrate on commercial real estate.

One more thing: we have an appointment tomorrow to meet with another potential ATM site. I made the decision to pull the machine from the newer chinese buffet place. They don’t leave the machine on all of the time after me telling them repeatedly to do so, so I told them we’re pulling it. I wonder how the small business loan environment is? Because the only think that stops us from buying up a bunch of machines and just pounding the pavements and putting them in tons of locations is money. I’d say realistically we’d need about 20 to 25 machines out there working for us to live just fine, while we concentrate on commercial real estate (well I’d be just fine, that’d still below what Kathy makes.)

So, we would need 14 to 19 more machines then…and that equals about $42,000 to $57,000. Hmmmmmm. Something to think about. Obviously, there isn’t much money coming in when you’re out developing business, of course. But after they are all placed there is. Something to think about. I don’t think our LLC has been around long enough tho. I remember last time I got LOC for my business I had to be in business for at least a year. We’ve only been doing this since July of 2009. Something to think about.

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