Vending Machines, ATM's & More

[Michael Badin]

So I am looking at the possibility of purchasing a 32 unit property.  (Still very early in the process.)  One of the value add ideas I am tossing around in my head is Vending Machine's and or an ATM being placed in the property.  Does anyone have any recommendations for a company they have used for vending machines?  Did you approach a bank directly for the ATM rental or a 3rd party company?  What experiences have you had with them?  What kind of return did you experience with how many units?  

Should the deal work out and I actually purchase the property I also plan on rehabbing both existing laundry rooms and replacing the old outdated machines.  (From what I understand the current machines breakdown often.) What do you recommend, coin operated or card?  Other suggestion?   I think owning the machines is probably better but what are your thoughts on leasing and profit sharing?  If you have done both, (Owned machines and leased machines/ profit share ) which option did you prefer?  

Has anyone ever put a pinball machine or something of the like in a laundry room?  Thoughts?

Thanks All!

[Levi T.]

Hope that’s not how you plan to move the needle. Forget the vending machines, 32 units are peanuts in terms of scale for that type of idea.

Go to Lowes or Hd website, you can buy coin op. Washer and dryers now of days for cheap, run the price to the sky. We are $7 to wash and dry, or you can travel a bunch of blocks and pay $1.25 a load, people opt to pay more vs walk or drive. It’s a win win, lower usage, good returns, and we check that box for washing machines in the buildings.

Your money is going to be made in the lease agreement, PM style. Nothing like picking up late fees, check processing fees, pet fees, lockout service fees.