ATM Business Atm Deals Joint Ventures

The ATM Business and Kids

So you’re probably thinking this will be a cute little post about how kids can succeed in the ATM business and how they can learn about passive income blah blah blah lol

But no…I’m just going to complain about kids for a hot minute. Kathy and I have an ATM with a partner. (We partnered with him to show him how to get into the ATM business.)

This particular ATM is in a roller rink. Obviously there are a lot of kids that go to the roller rink. Anywho, our ATM at this location was down for a few days. Why you might wonder?

Well a dime and a penny were found in the ATMs card reader and that forced the whole entire machine to shut itself down. Apparently the machines have a feature where if they think they are being screwed with they will just shut down so no one can do anything illegal to them.

My thinking was that we put a sign over the ATM that says: Attn Kids: If you damange this ATM you will be GROUNDED!” The ATM has since been moved to be in the path of a surveillance camera. Which is cool.

Luckily, this is a new machine and everything was covered under warranty and we are back in business again!

Note to the kids: you can play with the ATM you see at the top of the post, just not the one at any of our locations 🙂

P.S. Don’t forget to check out the free video training that the Diva Money Club is putting on. Awesome stuff!

P.P.S. Sign up for your free info over to the right to get tips, ideas and tactics on adding passive income to your life!

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What If You Have No Money or Time To Put Into Your ATM Business?

Happy New Year everyone! This year is going to rrrrrrrrrrrrock for sure!

I had a reader, James, ask an awesome question this new year. James wrote:

“Carey I have the money to buy an atm. But i dont have a way to put the money in it
monthly i dont have access to a private lender what do you suggest.”

Here was my response to James:

“Hi James!

Happy New Year! OK so you have money for an ATM and you have a location
too, right? You just don’t have the money to put in the machine or to
load the machine monthly or weekly, etc. Is that correct?

If that all seems about accurate then what you are going to need James is
a partner. You are going to need a partner who is willing to fill the ATM
when it gets low om cash and who has about 1k to 1.5k to start off with to
put in the machine. Of course this person should keep in mind that the
less the put in the machine upfront the more they will have to fill it
every month.

When you find this person you just agree to split the surcharge fees 50/50
or whatever you both agree to. You can even ask the business owner of the
location where you want to put this machine if they want to be this

Hope this helps. Kudos to you for wanting to take action!”

So you see folks there’s always a way to make things happen. Partnering with the business owner of the site location where you want to place your ATM is a really great idea. Of course, you can’t pitch them 100% hands off! But that’s ok, if you know going in that you need them at a partner you obviously are going to pitch the partner 50% partner angle instead of the 100% hands off angle, right?

Here’s to you creating some extra passive income from the ATM business and other areas in 2011!!

P.S. I think the potential partnership with the gentleman from Canada may be able to be worked out. My ISO (this will be an ATM Video Vocab episode lol) and my attorney don’t think it will be a problem. Waiting to get the final OK from both parties.

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Yippee! Partnership with jerk is offically done!

We received a signed contract (that our lawyer drew up) from the jerk ATM partner yesterday. So yesterday while I was at work I gave Kathy the ok to mail him his check. Jerkhead received his check in the mail today and our ATM ISO officially changed everything on the account.

Soooo now we have 1 more ATM that is 100% owned by us. Now we just have 1 partnership left with this jerk and it’s just going to have to stay that way because the ATM makes wayyy too much money that neither one of us could afford to buy the other one out. That’s ok…..1 deal with him is better then 2!

The New Year is starting off gggggggggggggreat! (and it’s not ever here yet!)

P.S. Got an email on Christmas from another potential private money lender. 🙂

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Ending contract with jerk partner! Yes!!! and Diva Money Club

Soooo I finally got the jerk who we partnered with on our first 2 ATM deals to agree to a price on one of that ATMs we have together.

This guy is so slimy and lacks so much integrity that it’s not even funny. With each email he wrote me he pulled something different out of his ass! His last email is where I thought I was going to explode and get all Philly on him! (Even tho I live in the ‘burbs with the cows and the Amish now…don’t get it twisted…I was born and raised in Philly and will always be a Philly girl at heart lol)

Anyway, I held back one more time and was just stern on my final email to him. He talked a bunch of shit again and then finally agreed to the price. So our lawyer, who I’m digging, is drawing up an agreement and bill of sale, because obviously I don’t trust this jerk to “switch things over as soon as your check clears!”

Pffft! I wish your ethics and integrity were as good as my damn checks are! Anywho……..will be happening soon and then we will only have 1 ATM via a partnership with him.

ATM Business Blueprint: Your Guide To A Profitable ATM Business And Lifetime Of Passive Income is coming along nicely and is going to rock your world! (Well ok so it may not rock your world but it will surely help you rock your bank account!)

Lastly…I don’t know if ya’ll know about the Diva Money Club but my buds Shae, Steph Davis, Julie Broad and Susan Lassiter-Lyons launched this club and it’s geared towards helping you replace your current salary within 12 months. I gotta tell you it totally kicks butt! (Why do I say ass in the beginning of the post and butt now…i dunno?)

I mean when you have the likes of all of these ladies, especially Susan…how can you go wrong? And the price, you can’t beat it with a stick… if you haven’t already, go check it out: Diva Money Club (oh and guys, you are called DIVOS and you can join as well…….)

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What Would You Do?

So I’m in the midst of a little situation that to put it really gently is pissing me off 🙂

Kathy and I started in the ATM business partnering on 2 ATMs with a guy who has been in the ATM biz for a while. We partnered with him to learn the ATM business. So in a nutshell we gave up 50% of our profits on our 1st 2 machines in order to a) learn the ATM business from someone who is experienced and b) get into our first 2 ATMs for less money then it would have cost if we were doing it on our own (because the partner pays more up front for the ATMs.)

Now, I want to apologize up front because this may be a long post but I need to vent and I would like your honest opinion. This guy I knew from real estate. He was heavily involved in the investors group that I use to belong to, as a matter of fact he was the past president of the group. So it was a guy I trusted (btw, I use his leases for my rental properties.)

Notice, I’m not mentioning his name but I’m sure you can figure it out.

Anywho, we decided to partner with him. He told us in the beginning that it’d be a 60/40 split for the machine (we pay the 40 because we’ll be filling with our cash and we pay the monthly phone fee.) No problem. We are learning the business and it’s the cost of business I am OK with this type of partnership and I offer this partnership agreement with other folks that want to learn the business.

Big difference though between he and I? I have INTEGRITY!

You see he said the price of the machine is $3,000 so our 40% is $1200. Ok no problem. Turns out the machines were USED, not NEW. The NEW price was $3,000. Turns out, he had the machine in a bar for a while then took it out and had it in his garage and then decides to partner with us on it.

Yes, you are right, if you are thinking that I should have done more due diligence up front. Yes I should have…and I’m not disputing that fact.

Anyway, we’ve lived with it for a while but now we decided that we wanted to buy him out of 1 of the machines. So we went back to the contract and contacted him. Wellll Mr. Integrity quotes us a price of a buy out that is 11+ times what it should be based on the contract.

He said “Oh I forgot to add this in the contract, so this is how we figure it out.” lol Of course, I explained to him, VERY NICELY mind you that that is not how contracts work, you don’t try to add shit to them after the fact because you screwed up.

I told him that I understand he won’t accept the buy out price that is calculated based on the contract so let’s figure out a mutually agreeable price. Truth is, I just want to be done with this jerk!

Of course, we’ve been going back and forth for a week now because people with no integrity have no idea that what they are doing is wrong and they think they are 100% right and within their right to think so.

Btw, I even told him that we know it was a used machine and he was basing our partnership off of new pricing….he admitted to all of that, but still…doesn’t think he did anything wrong. He wants to keep telling me what he paid for the machine.

So I told Mr. Real Estate/ATM expert that just like in Real Estate…where a buyer doesn’t care what you paid for the house, I don’t care what you paid for the ATM when it was new. It’s not new anymore and it certainly wasn’t new when we bought it.

I could go on and on and I have to tell you, for any of you that know me well……I have been VERY good in my emails back and forth to him. Very respectful and professional, but that’s about to end very soon.

Sooo n ow I ask..what would you do?

Would you continue to try to negotiate with this clown knowing that you are ultimately losing money on this deal because you overpaid for the machine in the first place? This option at least ends 1 partnership with him.


Would you keep the machine and the partnership knowing that a) he’s getting paid 50% every month and b) knowing that it doesn’t make good money and we really want to put it somewhere else….we’ve left it there this long because we knew we wanted to try to buy him out. And the buy out calculations are based on # of transactions the ATM does at a location.


Do you……(fill in the blank.)

Sorry for the rant…I generally try to be pretty positive and I’m very grateful that I learned the ATM business because of these 2 partnerships but I have a limit with people who lack integrity and I’ve pretty much reached my limit with this guy.


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2 New ATM Sites and New Potential Private Money Lender

goin flippin crazy with passive income

Man do we have a lot going on. We’ve really been Goin’ Flippin’ Crazy! 2 New ATM sites, a new potential private money lender and I don’t know if I mentioned it yet, but I decided to fix up my rental and sell it instead of renting it out again.

Kathy and I will be finished painting it this weekend and then next week we’ll be having carpet installed.

Ok so we installed the ATM in a roller rink last friday. That’s the machine we’re partnering with someone. Remember, it’s his 1st ATM deal and we’re showing him how to do things.

Plus, we ordered the machine for the gas station that my best friend referred us to. So we should be installing that machine before the end of this month.

And remember our private money lender that loaned us the money on our 2 cash only ice cream stores? Where they used their self-directed IRA to do so? Well they just referred me to a friend of theirs who has their own self-directed IRA who may want to get into the ATM business as well from a private money standpoint and perhaps even from an ATM business owner standpoint at some time in the future.

Pretty cool, huh? So as I’m sure you heard me say before in my posts and in some of my videos just make sure you ALWAYS do what you say you’re gonna do, pay the people who lend you money when you agree to and be easy to do business with and people will refer you business!

No matter what business you’re in…it’s really a people business! Even when we’re dealing with ATMs. There’s no tenants or toilets involved with our ATMs…they are just machines, but guess what? Prior to getting the ok to place that machine in the location….we were involved 100% in the people business! We have to interact with the business owner and get them to like us, trust us and want to do business with us.

Even after the ok….we still are in the people business when dealing with the business owners. We talk to them, inquire about business and really just care about them and their business.

And believe it or not, even if you operate websites from your home, you’re still in the people business. Because you want PEOPLE to read your website, right?

That’s the last thought I’d like to leave you with today….make it easy for folks to want to do business with you!

P.S. Woohoooo! Our router is fixed and I’m back online at home!

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Open Your Mouth!

I wanted to tell you all to remember to OPEN YOUR MOUTH AND SPEAK!

open your mouth about what you do for business

What am I talking about? I mean open your mouth and tell people about what you do! It’s such a simple concept yet a lot of folks just don’t do it. Why?

Maybe….they are embarrassed because they haven’t been 100% successful in their endeavor so they don’t talk it about that much.

….maybe they think that other people at their jobs will think they are cccccrazy (like a fox?)

….maybe they think their family and/or friends will think they are crazy, stupid, a failure or [insert whatever you want here.]

So please folks start telling people what you do. Maybe you’re like me and you work a Full-time gig (fyi I’m getting REALLLLY sick and tired of it lol) and you also do real estate investing (wholesaling? rehabbing? etc) and perhaps you have another side passive income biz (atms? ebooks? etc.) Well don’t be afraid to tell folks about your real estate investing and passive income gigs just because you have a full-time job!

Will some folks not take your seriously because you have a full-time gig (and they are secretly thinking well why don’t you do the other things full-time?) Sure….but who cares? Move on to the folks that will listen.

Btw, I decided to write this post because I got a phone call last friday morning from a gentleman. The call went like this:

Me: Hi I just missed your call and you didn’t leave a message.

Him: Oh yeah, I was referred to you by Donna P. <----my best friend. I have the gas station over at blah blah blah and I was interested in talking about an ATM. Me: Are you available today at noon? Him: Yes. Me: Ok, what is your name? Him: Mark. Me: Ok Mark I will see you then!

I met with him (as Kathy was in the car on a conference call for “work”) and he agreed to have a machine placed in his gas station. So this Friday, I am headed there to get him to sign our contract and then we’ll work on getting a machine for his place.

Oh and this Friday also, we are placing an atm in a new business as well. This is a partnership deal. We are partnering on this deal with a gentleman who is just starting in the atm biz. We’ll show him how to do this one (and a couple more if he wants) and then he can be off and running on his own! (If you haven’t already signed up for your free report on buying ATMs with No Money! Sign up below today and you’ll also be notified when my ATM Passive Income Course comes out!)

We’ve definitely got a lot happening in the ATM world and things are moving along awesomely (is that even a word?) Now we gotta really get cracking on multi’s.

Talk to ya’ll soon. Sorry I haven’t posted much, our internet service is not working at the house…grrrr they are coming out Monday to hopefully fix it!

P.S. It’s official! My self-directed ROTH Ira is ready to rock and roll. Now I just have to find something to invest in 🙂 Any ideas folks?

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Planning Your Retirement with Your Atm Machine Business

planning your retirement

Are you planning your retirement? Seriously. How many of us self-employed real estate investors or just self-employed in any type of business are REALLY planning for retirement? Are you being truly effective at planning your retirement? Could you be doing more to plan your retirement? I know I could be doing more to plan for my retirement.

So I was in the shower today (remember! I do my best thinking there) and a thought occured to me: “You know I’m trying to get folks to use self-directed ira’s to invest in my commercial real estate deals, so why couldn’t I use my own self-directed ira to invest in my atm machine business?”

Now, I have to run this by the self-directed IRA company that I plan on using (Equity Trust) but if the guy I’ve been dealing with, who has been amazing by the way (Matt) says it’s an ok investment for my ira then it’s something I am seriously going to do (and I just told Kathy about it too!)

Do you guys have any idea how huge this is…IF in fact I can invest my ira into my atm machine business?? Planning YOUR retirement just got easier too; if this is in fact an acceptable investment strategy for your self-directed IRA.

Just an example how planning your retirement with your atm machine business would work:

– You have 10k in a self-directed ROTH IRA (I love the ROTH IRA.)

– You find a business that you think would be an awesome spot for your atm machine.

– You have your ROTH IRA pay for the machine, pay for the modem, pay for any stickers, extenstion cords, etc. ($2500 max)

– You have your ROTH IRA put let’s just say $1,000 into your atm machine to start (that’s how we start most of our new atm’s that we place.)

– You begin to collect the surcharges from the machine every month and that gets deposited into your ROTH IRA (after you pay your bills which most likely will just be a $15 modem charge.)

Rinse and keep repeating because the entire time you’re actually planning your retirement. Over and over and over again.

Now with our atm machines we’ve been averaging about $200 a machine per month. So that’s 20% a month per machine. Imagine you put that $200 back into your self-directed ROTH IRA every month; year in and year out for as long as you have your atm machine. That’s 20% of your $1000 going back into your TAX FREE roth Ira. Is that not an awesome plan to consider when planning your retirement?

If you then decided that you wanted to get out of the atm machine business then you would sell your atm machine to someone else who wants to potentially use the atm machine business to plan their retirement. Of course, 100% of those profits must go right back into that TAX FREE ROTH IRA! hehehe I like saying that….TAX FREE!

Planning for retirement I think just got a wee bit easier folks. For me anyway 🙂

Just a note: If you were interested in converting your traditional ira to a self-directed Roth Ira then you will have 2 years to pay the conversion taxes. So you can pay 1/2 in 2011 and 1/2 in 2012. Btw, I am NOT an accountant nor am I giving you finanical advice. Please consult with your accountant to verify all of this information 🙂 (This also applies, I believe if you are converting your self-directed traditional ira to a self-directed roth ira. You have the 2 years to split up the conversion fee.)

If you have any questions about how you can use your atm machine business when planning your retirement please post them below!

Soooo what do you think? Are you excited as I am about this method when planning your retirement? Also, I’m thinking that this would be a good way to go when partnering in atm deals.

What do you folks think?

planning your retirement with your atm machine business

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Happy Thanksgiving!

I know I said I wasn’t gonna post today but I figured I would real quickly as I sit here drinking my carrot/apple/parsley juice while Kathy finishes making cookies.

I spoke to a local wholesaler today who has 2 deals under contract and we agreed to do some joint venture deals together. And we agreed to a simple 50/50 split of each others deals.

So I’m psyched to help him get his places sold and I have a couple of investors in mind that I think may be seriously interested. Fingers crossed.

Ok everyone…have an awesome day and always remember what you’re thankful for!

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Gobble Gobble Everyone!

happy turkey day

I’ll be back to business on Friday. Yesterday I spent a lot of the day doing crap and then filling our atm’s. The gentlemen’s club is far so it takes some time to fill it (but believe you me, it’s worth the hour and 15 min. drive! lol)

Tonite, I got our chinese restaurant to sign a 5 yr. contract with us 😉 That atm is kicking a$$$$$$$$$$$$$$$$$!

Oh and I spoke to a local wholesaler and he has 2 deals under contract and we’re gonna work a lil joint venture deal together and I’m gonna try to market the heck out of his properties so I can make some cash.

One more thing, I’m gonna try to sell probate leads. I learned about that concept from Scott’s blog Struggling Investor. And I already talked to Brandon (Kathy’s 17 yr. old son) about getting the leads from the courthouse for me. He’s game. hehehe

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