REI Wealth Monthly Issue 09 | Page 71

HOW TO NOT GET CHEATED IN THE ATM BUSINESS CAREY BUCK Tip #2: Pick Your Partner(s) Wisely When I first got started, there wasn’t really a course that I knew of that could?teach me the ATM business. But, I did know a gentleman in the ATM business. He was someone that was “trusted” in another industry and I had no reason not?to trust him in the ATM business. Besides, he was going to teach me the business. Turns out, he was a shady business man with zero integrity. I was definitely cheated in my beginning days because I chose to work?with him. This is the entire reason behind me putting together my ATM Business Blueprint Success System…so no one ever feels they “need” a partner to teach them the ATM business. Anyway, to prevent yourself from getting cheated by a partner, make sure that you first get references from people that have worked with the person are considering as a partner (get any references - good or bad). Also, make sure you have a contract with this partner. BUT, and this is a very important BUT, do not, under?any circumstances, sign the contract without having YOUR local, competent attorney review it for you. DO NOT SKIP THIS STEP. Yes, it will cost you money to have an attorney review the contract, but I promise you that it will help alleviate a?lot of problems down the road. Feel free to ask me how I know this! Tip #3: Protect Yourself and Your Business Of course there are?dishonest people out there, right? We all know this. I’m not telling you?anything you didn’t already know about the world. At least I hope you’re not hearing it from me for the first time. In order to not get cheated in the ATM business, protect yourself and your business from dishonest and disloyal people. You do this in two ways: 1) Getting contracts signed with business owners - You always want to “lock”?up a potential location with a signed contract by you and the business owner. This is no different than real estate investing and what you would do when you find a property that fits your buying criteria. This contract should have all of the terms of the deal spelled out in it and it?will make your relationship “official.”