Man who bought an ATM for $2,000 reveals how it now makes him millions
One purchase led to him making millions
We use ATMs almost every day, and although they give us our money, we doubt you’ve ever thought about how you might actually make some cash off them for profit.
Paul Alex, however, has done exactly that - and he’s encouraging others to do the same.
The Miami based entrepreneur has been sharing all of his secrets on Instagram, revealing how he managed to quit his job and make a living from his ‘side hustle.’
First up, a bit of his backstory - Alex became a police officer at 26, eventually making his way up to a detective at age 28, making over $200k a year.
Advert
Despite making a healthy salary, Alex wrote on Instagram that he was suffering outside of work, having "3 hours of sleep daily, [and giving] everything to my job."
After deciding to make a change when he was 29, he instead "started an ATM business hoping to quit my job one day".
So, back in 2018, he started buying the machines and grafting to work out where they might be best placed to make the most money, scouting out locations like barber shops and liquor stores.
He then negotiated with the owners to get them to agree to have his ATMs in their locations, where he had to manually fill them with cash.
Sounds like a lot of work, but the rewards were soon to follow.
In the first month, Alex said he had one ATM and was making $500 a month - by month 18, he had 30 ATMs and was making $15k a month.
Now, 35 years old, Alex says he’s a millionaire and has seven income streams.
Alongside his ATMs, he also owns a credit card machine business, a Bitcoin ATM business and dabbles in real estate.
He was even reportedly able to make $20 million, retire his parents and buy a $2.9m house.
It can't get much more rewarding than that!
It comes as no surprise that there seems to be a few other perks to being a millionaire in your 30s - Like some of his flashy purchases, like a Porsche.
But don't be mistaken, Alex was not an overnight success.
"My overnight success took me 9 years," he wrote on Instagram.
"It all came down to working hard, saving up my money, and building businesses while working my 9-5 until my side hustle exceeded my 9-5 income."