Still watch the video these are just the highlights 1. Buy a brand new machine (2500$) 2. Always (X3) get a good contract and get it signed FIRST 3. Buy a ATM from a company with technicians 4. Dont go to large banks (Wells, Chase) 5. Be honest about your ATM business 6. Always (X2) bolt your machine to the ground 7. Pace yourself, step by step
B. Real update, government came and took my money. $800 anual, taxes, Bank fees, internet, commission to owners, licensing to opening a business bank account. For the contract, you can just copy paste an atm contract online for free. Just shows the agreement between you 2. Talk to a lawyer to write one for you probably an extra 1000 that way, it's your business, you do it however you want.
i wonder if there are location finding businesses similar to ones that find locations for vending machines 🤔🤔?? now that i think about it probably not.. atm's are a whole other beast
Great video, couldn’t agree more with him on the tips. One thing to know for sure is to let the banks know the ATM business isn’t a MSB according to FinCEN. This helps ur chances of getting a bank drastically. Hope that’s helpful.
There is a push towards digitizing more transactions but that could possibly cause more of a demand for cash, especially if governments place limits on the amount of cash that can be taken out in a day; it has happened in many countries.
I was able to get a contract aka location agreement thru my processor, they gave me one for free. Basically has everything I need on that contract from price I'll be charging to profit sharing to insurance, the whole enchilada.
@@kc_ink_addict9079 I've been talking to a dude named Joey. From GA. I live in Indianapolis area. This dude has been informative and been able to answer my questions along the way. He sending a technician out to help me install my first atm , the technician will help me understand my ATM according to Joey from ATMMachines.com LLC
You guys always leave the most important part which is how do you even get a contract In the first place where. By who. How much does it cost to get a template contract. How do you approach an entity and show the contract or present yourself. I need to know what to do on that aspect I have everything already but every atm video is the same bro gotta give that full info
Good video! About placing money inside, how do I make profit if I'm using my own money to refill each time after the 1st initial startup price of $2K or did I miss the way that portion is made?
$5 surcharge is added from each customers bank to your account maybe in 24 hr period so multiple people within 24hrs. So, I guess you could use your own cash to refill machine
Seriously considering this as another side hustle. So do I put my own 2k inside the machine to start or try to get it from the credit union to start off?
Bro idk what kinda ATM's Michael getting but the GenMega 2500 I got is like 250 lbs, it's pretty fukin hard to lift my ATM up to my shoulder, oh hell nahhhh I'd break my back, n I'd like to think I'm a kinda strong guy, I'm bout Michael's size.
thank you for all the tips !! appreciate your effort man ` just a question about how the ATM dispense different bills, 20.. 10.. 5 should i buy extra cassettes ?? is there specifc ATM brand that you prefer thank you
I can't help but wonder why a bank would seize money from an ATM business? Where your money comes from is none of their business so how do the hold it?
Remember you have to stock the "vault" in these atms. In most atms you will need at least 6000.00 dollars. Ten machines is 60k. At 3.00 per transaction, an average of 200.00 per transaction, that's a 90.00 profit. This is very important to know. Not a great business, i got out in 2007.
average is maybe $120 unless its a high end cash only business or coke is sold there, also in the long run it is not a bad investment $6000 cash you can always take out plus 2500 for machine, 8500 investment, even 5 transactions a day 3x5 $15 a day so you average around 450 a month on the low side, just refilling an atm occasionally. The pro is little work after startup con is it dosnt pay itself off fast. but at the same time in a cash only marijuana dispensary the machines could easily clear $75 a day
#5 be honest with you bank. How can I be honest and tell them I'm running an atm business if their gonna lock and hold my account. @5:20 You really didn't clarify that well
What does he mean the big banks won't allow you to do this business? Why would you need permission from a bank to start this business if you didn't get a loan?
Follow me on instagram so you know what I got coming next instagram.com/reyestheentrepreneur/
How can I get a machine shipped and from where?
Hello, can you make a video on how to find a good lawyer for your atm business?
How many ATM machines would it take to make$40k monthly
Still watch the video these are just the highlights
1. Buy a brand new machine (2500$)
2. Always (X3) get a good contract and get it signed FIRST
3. Buy a ATM from a company with technicians
4. Dont go to large banks (Wells, Chase)
5. Be honest about your ATM business
6. Always (X2) bolt your machine to the ground
7. Pace yourself, step by step
Thanks. I'm watching the video still but I took a screenshot
What are examples of a good place to buy a new machine?
🙏🏿
How do you start a contract? By itself or with a lawyer?
Cant bolt it down but GPS tracker stickers on all machines
*I thought it was a re-upload BUT NO*
Reyes is just putting in that work. Love that 💯💯🙌
This dude has youtube personality Reyes 💪
I bounced my energy off him. Very charismatic
I have 2 new machines. On my way to my first full month. Looks like its going to make me 600+ extra this month ontop of my regular job. 👍🏻
@@howtoskatewithanfour6889 Where did you get your contract?
B. Real update, government came and took my money. $800 anual, taxes, Bank fees, internet, commission to owners, licensing to opening a business bank account. For the contract, you can just copy paste an atm contract online for free. Just shows the agreement between you 2. Talk to a lawyer to write one for you probably an extra 1000 that way, it's your business, you do it however you want.
@@howtoskatewithanfour6889 I am not understanding your first sentence government came and took your money.
Locations are tough to find! But if you hustle hard enough you'll find them.
Amen
i wonder if there are location finding businesses similar to ones that find locations for vending machines 🤔🤔?? now that i think about it probably not.. atm's are a whole other beast
Notification GANNGG! Reyes with the value this afternoon! Its lit! Hope everybody has a great day!
I watch your videos from reyes
@@miab1705 that’s love ❤️ thank you
Dang the office is really helping out these vids out. Glad you got one
Great video, couldn’t agree more with him on the tips. One thing to know for sure is to let the banks know the ATM business isn’t a MSB according to FinCEN. This helps ur chances of getting a bank drastically. Hope that’s helpful.
The bank isnt gonna take your word for that haha
Make a series starting an ATM business!
Hands down one of the best videos on saw on ATM business’s wow thanks so much for sharing:)
This video truly motivates me into wanting to start a atm business myself. Thanks for posting this
“I got a face card at tha bank”. I love this guy, this interview is straight truth. Thank you for uploading.
Thanks 🙏🏾 for the love ❤️
my man over here spitting game. don’t sleep on the knowledge
Damn that new office was for sure the move bro 🤩
Wow Reyes that office has done you good bro. Content near daily man. Awesome sauce!
Thanks for the tips, Michael. No books ever said this passive income source was possible.
Reyes' bro I appreciate everything you do on these Channel I've been watching you since day one bro and you motivate me
There is a push towards digitizing more transactions but that could possibly cause more of a demand for cash, especially if governments place limits on the amount of cash that can be taken out in a day; it has happened in many countries.
Old ppl still roll with cash. And their demographic will always be present so....
I respect both of y’all heavy
Michael knows what he is doing
Yes he does.
I was able to get a contract aka location agreement thru my processor, they gave me one for free. Basically has everything I need on that contract from price I'll be charging to profit sharing to insurance, the whole enchilada.
You have a name of your processor??
@@kc_ink_addict9079 I've been talking to a dude named Joey. From GA. I live in Indianapolis area. This dude has been informative and been able to answer my questions along the way. He sending a technician out to help me install my first atm , the technician will help me understand my ATM according to Joey from ATMMachines.com LLC
Reyes grinding out videos like crazy! Respeckkkkk the hustle! $$$$
You got my attention today Michael 💪🏾🙌🏾😊.....
In the hood, he gets the highly acclaimed title "real ni**a"!
Bro 3:48 thank you that’s what I’ve been having trouble with
We appreciate you Reyes. 😎💥👊
Appreciate the free jewels Michael should definitely make a UA-cam page
You guys always leave the most important part which is how do you even get a contract In the first place where. By who. How much does it cost to get a template contract. How do you approach an entity and show the contract or present yourself. I need to know what to do on that aspect I have everything already but every atm video is the same bro gotta give that full info
Nobody is going to give you the answer. I found the answers to all of that on my own from videos like this.
Great video and tips, thank you very much.
You guys make a good team
Very informative, thanks guys!
Smart dude......great content Reyes!!!!
Another Banger 🔥🔥🔥
Notification Gang 🏆
‘I miss being a kid” I felt that smh
Thanks for the advice pimps 👍 did you guys start looking for locations before you had machines? I just stumbled upon the channel and subbed.
Great info Michael 👍🏽
Do the machines send an alert to the owner when it is empty?
Why wouldnt the small banks and businesses use their own ATM machines?
They do
Good video! About placing money inside, how do I make profit if I'm using my own money to refill each time after the 1st initial startup price of $2K or did I miss the way that portion is made?
$5 surcharge is added from each customers bank to your account maybe in 24 hr period so multiple people within 24hrs. So, I guess you could use your own cash to refill machine
my thoughts as well. I'm thinking you need double the cost to start up. So around 5k.
Love it reyes! Keep up the good work!
What kind of lawyer would you contact to draw up contact? An how do reach agreement on rent/payment of location? Is it by slate rate? % of profit?
Is there a reason why big banks don’t allow you to do this?
Nah that they don’t
They have to many assets and regulation to deal with.
If it was over 30 years ago, they would of done but banks have changed men.
Kinda missed one tip on having security to cover you refilling those machines.
That’ll eat up your profit, that’s why he said In the last video he’s always strapped and goes early mornings
You should do FFL or gun sellers too as well
So that's why dispensary ATMs be charging $3-$4 to withdraw
3-4 is small, most places charge 5.99-7.99
Seriously considering this as another side hustle. So do I put my own 2k inside the machine to start or try to get it from the credit union to start off?
NOBODY wants to loose money!!
Bro idk what kinda ATM's Michael getting but the GenMega 2500 I got is like 250 lbs, it's pretty fukin hard to lift my ATM up to my shoulder, oh hell nahhhh I'd break my back, n I'd like to think I'm a kinda strong guy, I'm bout Michael's size.
How do you get the cash to fund when you refill? The money hits your account, so, you can set up transfer to your personal bank account, cool.
Confused on points 4 and 5. Use small banks for placement of machines or opening a business account ??
Small bank for opening your business account
What’s the percentage that you give the owner?
Depending how big the business but indeed to know this question if someone know small business or big companies. How much is cost percentage. ?
Where did I order wich website?
What company or bank do you use for your atm business because My bank Td bank doesn’t allow customers to have one so I was wondering
#1 is to get a new machine so there is no backdoor software in it either.
thank you for all the tips !! appreciate your effort man ` just a question about how the ATM dispense different bills, 20.. 10.. 5 should i buy extra cassettes ?? is there specifc ATM brand that you prefer
thank you
Are we really buying used atms? Isn’t there some kind of security risk there
So we doing daily uploads now😳
NOTIF GANG
Where do I get an ATM that DOESN'T come with LONG TERM CONTRACTS or clauses where I pay them until the end of the contract if my ATM business fails ?
Love it Reyes!
I can't help but wonder why a bank would seize money from an ATM business? Where your money comes from is none of their business so how do the hold it?
Remember you have to stock the "vault" in these atms. In most atms you will need at least 6000.00 dollars. Ten machines is 60k. At 3.00 per transaction, an average of 200.00 per transaction, that's a 90.00 profit. This is very important to know. Not a great business, i got out in 2007.
What did you move onto, and would you consider this a good starting point?
wdym? you stock the vault with money and that money goes into your account when they withdraw + the transaction fees. pretty decent passive income
average is maybe $120 unless its a high end cash only business or coke is sold there, also in the long run it is not a bad investment $6000 cash you can always take out plus 2500 for machine, 8500 investment, even 5 transactions a day 3x5 $15 a day so you average around 450 a month on the low side, just refilling an atm occasionally. The pro is little work after startup con is it dosnt pay itself off fast. but at the same time in a cash only marijuana dispensary the machines could easily clear $75 a day
#5 be honest with you bank. How can I be honest and tell them I'm running an atm business if their gonna lock and hold my account. @5:20 You really didn't clarify that well
@ 4:23 "I got a face card in the bank" LOL - I feel ya my brotha'
I learn so much
Other than being competition, why won't big banks let you have a bank account if you are running an ATM ? Seems kinda of sus
“Free range kids...” LMAO
Can you put a camera on the ATM machines?
u should do more videos on the photo booth business
Thank you for sharing this video
I like how he flexs the cash even tho it's not the profit lol
What LLC does he sign under to open up the bank account?
So is he doing it straight out if pocket or has a business credit for the ATM business?
Thank You
Change the default password?
Office really pushing productivity!!!
Reyes how are your stocks doing, they must be skyrocketing rn
Should I buy a ATM first before I get a contract
What do you mean by contracts? Like with the people of location where the atm is going ??
Awesome information
Let’s say I’m not interested in getting loans, would it still be advisable to not go to large bank?
Early Reyes!
LMAO...This man said "FREE RANGE KIDS"
can someone guide me to the right direction where to buy the new atm machine. i want tor order at least 2. thank you
Awesome video
What’s a good bank to use?
What lawer do i look for that deals with Contract?
Reyes ur cool dude
Good tips bro
can i ask what site or company do u go threw to purchase your atm
You already posted this!
This another video
Can u put a link to where we buy the atms
The 24 dislikes are from major banks 🏦.
Did he say free range kids???? Lmao
What does he mean the big banks won't allow you to do this business? Why would you need permission from a bank to start this business if you didn't get a loan?
What if someone put a broken credit card into the machine?
Can I pay brodi for a copy of that contract? Serious inquiry.
Good stuff
But what about them taxes