Just to give people some magnitude in their head. Was it one of these ATM machines costs if you were to do it on your own, and if you’re using these kinds of operating management type of companies, that kind of gets you going good, an easy way to think about it. And again, I’m not an expert, but from what I’ve learned, you can get an ATM for a couple of times.
If you want to go turnkey, let’s just call it a, just double that. So 4,000, let’s just say then of course, you’re going to have to put money in and that is going to depend on what type of place you put it in. So if you’re in a mall, you’re going to need a lot more money than that. If you’re at the tattoo shop around the corner, the amount of investment.
On that side of it varies drastically. And then of course, how busy the place is, will determine either how often you go or how much money you choose to put in at the time. So that’s an easy way to think about the cost of the ATM as far as. The cashflow again, that’s going to depend greatly, but let’s just say an average of $300 a month to $300 a month is a nice, easy way to, annual Ally’s that’s a few grand.
Yeah. Yeah. Like 3030 500 somewhere around there. And you’re going to spend anywhere from two to 4,000 on the machine, plus the cash to put in it. So let’s just say $10,000. That’s how I think about it. Like when I was finding out about the turnkey rentals and everything for the. Okay, 20,000 to get you a hundred thousand dollars home.
I think about these the same way, $10,000 to get me a home, but I’m going to make two or $300 a month, but maybe somewhere, but as one of the odd casters would say, there’s no tenants, toilets or trash with this. I thought that was a pretty fun. Yeah, there’s no leverage to involve your buying. These ATM’s cash.
You can’t leverage. You could possibly, once you get more at this, you can probably get a business loan, I would think. But at this point starting off, it’s pretty lucrative actually has gotten my wheels, turning. It could be, you’re making about what a hundred. I got some random questions. The repairs do these things break.
What do you do when it typically breaks on these things? Usually around 10 years or so before you’re going to have to start replacing parts in the 15 years. And at that point you might replace a card reader, a piece that actually reads the card that goes in, or maybe the speaker, just little things.
There’s not major repairs that I have in made aware of. And obviously I haven’t been doing it 10 to 15 years, but there are people that I’ve met that have been doing it 15 to 20 years. I think that’s the most detrimental part about the businesses I’m buying this piece of metal and it just going downhill and it’s.
Something where I can just, oh, Hey, I’m going to upgrade this and it’s going to be awesome. No, you’re going to have to buy a brand new one and just start. It’s like a car, a depreciating asset. And when these things break, I’m sure you had little mishaps, like you just call somebody and they go check it out and associates, you don’t have to go out there and do diagnostics on yourself.
Cause you don’t know what you’re looking at. To technical support to help, but yes, I do everything right. That could be a hurdle for a lot of people. What if people are very technically inclined, they could just call a dude to go do that for them. I know that there are people that you can call that, do this kind of thing.
I haven’t done it. It’s not that technical. It’s more unscrew this and turn that and okay. Put that back in and screw it back on. It’s not your techie. That makes sense. But you got to watch your six in case someone comes up and hits you in the back of the head. Yeah. You wanna go when nobody’s around