Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

197
Posts
102
Votes
Michael Badin
  • Rental Property Investor
  • Apex, NC
102
Votes |
197
Posts

Vending Machines, ATM's & More

Michael Badin
  • Rental Property Investor
  • Apex, NC
Posted

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out and I actually purchase the property I also plan on rehabbing both existing laundry rooms and replacing the old outdated machines.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!

Most Popular Reply

User Stats

1,358
Posts
1,323
Votes
Levi T.
  • Rental Property Investor
  • Tucson AZ / Nice FR
1,323
Votes |
1,358
Posts
Levi T.
  • Rental Property Investor
  • Tucson AZ / Nice FR
Replied

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.

Loading replies...