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out and I actually purchase the property I also plan on rehabbing both existing laundry rooms and replacing the old outdated machines.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

[Michael Badin]

No, as I said it is only one of the ideas. Main increase will come from rents. Current rents at the property are under market between $50-$100 Per unit. Property will need a little work before I just slam some rent increases on people but bones are good, I plan on repositioning the property. It is a C property in a B area.