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Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt.

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Speaker 2: And today we're talking outside of the box passive income

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Speaker 2: ideas with mister passive.

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Speaker 1: That's right. Yeah, who doesn't want automatic recurring deposits Joel,

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Speaker 1: just showing up in their savings accounts? I would love that. Yeah,

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Speaker 1: with minimal effort, that's the dream. Well, so that last

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Speaker 1: part I mentioned, the effort that is required. I think

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Speaker 1: that is the part that a lot of folks get wrong. Actually,

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Speaker 1: I was recently talking with a very smart friend and

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Speaker 1: we got to talking about rental properties and he said, oh, yeah,

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Speaker 1: I bet it's nice to have that passive income streaming in.

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Speaker 1: Not a let him know it wasn't, you know, I

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Speaker 1: purely hands off activity. But we are not mainly going

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Speaker 1: to talk about real estate today. We're actually going to

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Speaker 1: talk about vending machines and what it takes to be

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Speaker 1: a vending preneur. And the guy that basically invented that term,

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Speaker 1: Mike Hoffman, that is who we are speaking with today

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Speaker 1: and online. He's more commonly known as mister Passive, and

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Speaker 1: I don't know of anyone who knows more about vending

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Speaker 1: machines than he does. You know what it takes to

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Speaker 1: succeed when it comes to vending machines. So Mike should

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Speaker 1: should we call you Mike or should we call you

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Speaker 1: mister passive during our conversation everyday, Mike's Mike. Okay, Mike,

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Speaker 1: mister p thank you for joining the podcast today.

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Speaker 3: Matt Joel, thank you for having me. This is great.

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Speaker 2: You wear like a gold chain with a big pea

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Speaker 2: on it.

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Speaker 3: I don't know.

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Speaker 1: Efforts, I get the reference now, I'm a brandy coach.

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Speaker 1: Just turn to me for that. Uh, Mike.

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Speaker 2: As you know, Matt and I we like to drink

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Speaker 2: craft beer. But you know we're spending a lot of

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Speaker 2: money on high quality craft beer from time to time.

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Speaker 2: But it doesn't mean that we're not investing and thinking

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Speaker 2: about our financial future simultaneously. Do you have something like that, Hey,

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Speaker 2: you're being smart, you're investing in all sorts of things

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Speaker 2: to grow your net worth, but hey, you're willing to

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Speaker 2: splurge on what in the here and now.

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Speaker 3: Yeah. So for me, I have two kids under three,

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Speaker 3: so we always splurge on kind of a daycare slash

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Speaker 3: date night once a week. So every week we have

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Speaker 3: a date night where you know, you're basically factoring in

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Speaker 3: the cost of dinner plus the cost of daycare, and

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Speaker 3: it's been you know, I just having a wife that

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Speaker 3: understands entrepreneurial kind of grind and being on the same wavelength.

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Speaker 3: I'm a huge believer and kind of that time.

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Speaker 1: Together very nice. It's so important. That's something. Okay, you

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Speaker 1: want to hear a little life little hack that Joel

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Speaker 1: and I have implemented.

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Speaker 3: Absolutely.

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Speaker 1: This is something we started over ten years ago. Is

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Speaker 1: that we both had our first kids around the same time,

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Speaker 1: and so we implemented a date night swap. And I

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Speaker 1: don't know, ten years like, had we invested that money

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Speaker 1: that we didn't stand on a babysitter, I'm sure it

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Speaker 1: would be a quasi impressive number. Yeah.

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Speaker 2: If you got a friend who's willing, who's got kids

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Speaker 2: similar age, and you put your kid to bed and

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Speaker 2: then you you know, swap off seven seven thirty and

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Speaker 2: then you go out to dinner with your your your

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Speaker 2: significant other, that could be I.

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Speaker 1: Could save money the next week you're on the closs.

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Speaker 1: I just gotta be willing to put that time in.

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Speaker 1: I guess just think about it.

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Speaker 3: Oh, I like that, Okay, I was wondering what the

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Speaker 3: swamp was. I was like, are the husband's swapping Dade?

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Speaker 1: Yeah, glad you explained it. Yeah, exactly what's going to

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Speaker 1: go over watch his kids and vice versa.

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Speaker 2: Yeah, and it really does cut down on the babysitting costs.

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Speaker 1: But add up into minera though you don't think with

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Speaker 1: the girls getting older. Yeah, thanks for sharing that, Mike.

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Speaker 1: Uh Yeah, time with your partner like that, that's incredibly important. Yeah,

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Speaker 1: while we're talking, I guess about our personal lives a

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Speaker 1: little bit. You were a strength and conditioning coach. How

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Speaker 1: did you go from something like that that's I don't know,

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Speaker 1: that's not an area like when you're talking about personal

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Speaker 1: finance and you're talking about entrepreneurship, you don't typically hear

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Speaker 1: about dudes that also used to spend a lot of

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Speaker 1: time in the gym. But how did you transition from

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Speaker 1: that to becoming mister passive?

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Speaker 3: Yeah? So I actually used to live in the Bay

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Speaker 3: and the Silicon Valley and Mendo Park there and was

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Speaker 3: a strength conditioning coach for a think of it as

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Speaker 3: like a lab where we worked with high level athletes

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Speaker 3: from Stanford and cow but we also developed a lot

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Speaker 3: of software to predict injury risk that teams in our

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Speaker 3: military would use. So I would travel a lot to

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Speaker 3: these professional and college teams and even down by you

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Speaker 3: in the South Southeast. But long story short, traveling a

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Speaker 3: lot requires you to be in an airport a lot,

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Speaker 3: which if anyone's ever been in an airport, including Atlanta's,

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Speaker 3: there are a lot of venue machines. So I still

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Speaker 3: remember to this day. I was in a layover in Denver,

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Speaker 3: flying back west from the East Coast, and our flight

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Speaker 3: got delayed at eleven PM. They're like, oh, the pilot's

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Speaker 3: gone over as hours for the day. You're gonna have

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Speaker 3: to stay in the airport overnight. So I went up

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Speaker 3: to this venue machine and I was like, One, there's

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Speaker 3: crappy options in here, and I'm a healthy guy at

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Speaker 3: least I hope to be. And then two, this water

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Speaker 3: i'm paying for. I know I'm paying two bucks, but

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Speaker 3: I know it cost ten cents at costco and someone

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Speaker 3: is making whatever that is, five hundred percent margins off

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Speaker 3: of me while they're sleeping and I'm currently in an airport.

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Speaker 3: So I actually went down this rabbit hole of venue.

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Speaker 3: And I had a couple rentals back in the Midwest

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Speaker 3: from when I used to live there, But so I

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Speaker 3: had real estate and things like that, So I always

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Speaker 3: kind of had the entrepreneurial mindset. But that's how I

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Speaker 3: got into vending was during that layover in Denver.

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Speaker 2: So, yeah, you started with real estate. Talk about that?

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Speaker 2: Was that essentially this goal? Did you kind of have this?

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Speaker 2: It sounds like it maybe the vending machine was like

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Speaker 2: an aha moment, but also not an epiphany because you'd

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Speaker 2: also already thought about kind of passive income and the

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Speaker 2: role that it could play in your life, and that

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Speaker 2: started with real estate.

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Speaker 3: Yeah, that's right. So I actually my first I guess,

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Speaker 3: if you want to call it, outside of my W

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Speaker 3: two income stream was a rental. I was coaching as

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Speaker 3: a strength conditioning coach in Saint Louis at the time,

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Speaker 3: and I got a seventy thousand dollars house at the

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Speaker 3: And all I knew about real estate was you typically

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Speaker 3: have to put twenty percent down, and this is right

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Speaker 3: around twenty twelve. You have to put twenty percent down,

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Speaker 3: and you want to you want to get the one

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Speaker 3: percent rule. And that's all I knew. I wasn't like

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Speaker 3: a bigger pockets guy or read a bunch of these books.

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Speaker 3: I was like, okay, seventy thousand dollars house the neighborhood

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Speaker 3: oz Inc Had rentals listed on Craigslist for about nine

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Speaker 3: hundred and fifty bucks. So I bought the house. I

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Speaker 3: hired a property management firm. We listed it for I

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Speaker 3: think nine to twenty five and I knew I was

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Speaker 3: I was doing more than the one percent, so I

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Speaker 3: knew I could afford to pay the mortgage and make

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Speaker 3: a little bit of money off of it. So that

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Speaker 3: was actually probably five years before I got into vending.

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Speaker 1: Okay, So I guess while we're talking about that first house,

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Speaker 1: I think I saw that you used your emergency fund

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Speaker 1: to purchase that house. A. Is that correct?

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Speaker 3: But that's absolutely correct, Okay, B Do.

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Speaker 1: You feel that that was a risky move? Like if someone,

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Speaker 1: if you had a friend who came to you today,

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Speaker 1: was just like, hey, I'm thinking about doing this, I

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Speaker 1: guess what would you say to them?

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Speaker 3: So definitely a risky move, there's no doubt about it.

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Speaker 3: I think back in whatever that was twenty twelve, the

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Speaker 3: market was in a completely different place and it just

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Speaker 3: hadn't been going up and up into the right for

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Speaker 3: this long. So if I was in those shoes. Today,

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Speaker 3: I'd probably say there are other things you can do

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Speaker 3: with that money to be a little bit more smart.

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Speaker 3: Keep in mind too, the other risky part of this

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Speaker 3: why I had to tap into an emergency fund is

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Speaker 3: as a strength conditioning coach, I was the lowest on

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Speaker 3: the totem pool at that university. So I was literally

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Speaker 3: making twelve hundred dollars a month, like that was my

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Speaker 3: W two paycheck every month. So I had to dip

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Speaker 3: in an emergency fund because you think about or seventy

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Speaker 3: thousand dollars house, I had to put fourteen grand down

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Speaker 3: at twenty percent.

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Speaker 2: So this felt like to you, like the real estate investing,

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Speaker 2: did this feel like an necessity? Was it one of

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Speaker 2: those things like, Hey, if I'm going to continue to

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Speaker 2: do this job that I love, the only way to

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Speaker 2: make ends meet is if I find income somewhere else.

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Speaker 2: And then did you have this ultimate goal in the

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Speaker 2: back of your mind after you saw the success of

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Speaker 2: the first rental property, like, oh man, I want to

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Speaker 2: quit my day job and continue to ramp this up.

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Speaker 2: Or is it just kind of like no, this is

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Speaker 2: this is supplemental income so I can continue to do

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Speaker 2: the job and the career that I'm interested in.

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Speaker 3: Yeah, at that time, it was more supplemental, just because look,

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Speaker 3: we were renting it out for nine to twenty five.

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Speaker 3: After expenses and mortgage and escrow and all that, we

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Speaker 3: were probably making three hundred bucks a month, and I

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Speaker 3: couldn't keep affording to stack more rentals because it's not

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Speaker 3: like I just had another emergency fund that tap into

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Speaker 3: for my next rentals. So it was more of a

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Speaker 3: that's an extra three hundred bucks a month type of thing.

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Speaker 3: But when I got going down the vending route later on,

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Speaker 3: that's when I really realized, oh, wow, I can stack

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Speaker 3: vending locations way easier than real estate properties and even

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Speaker 3: buy these machines with no money down, and like you, like,

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Speaker 3: you could just use leverage financially a lot more simpler

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Speaker 3: than what's real estate.

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Speaker 1: Yeah, it's a bit more, a bit more feasible. So

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Speaker 1: we're yeah, we're talking about passive income. But before we

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Speaker 1: kind of dive into the specifics, do you think that

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Speaker 1: the concept just gets over hyped by folks who are

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Speaker 1: out there trying to sell a course or trying to

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Speaker 1: get you to buy their product, that kind of thing,

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Speaker 1: Like you always hear about passive income. But I'll you

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Speaker 1: know a lot of times there is. Sometimes it's a

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Speaker 1: part time job, sometimes it's you maybe even just selling

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Speaker 1: your time. But yeah, I'm curious to get your thoughts

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Speaker 1: there as somebody who's there in the space.

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Speaker 3: Yeah, so it's interesting. The thing so mister passive came about,

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Speaker 3: I wasn't really like, I wasn't in these courses. I

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Speaker 3: wasn't reading all these like oh, make money on YouTube

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Speaker 3: or faceless YouTube or all the different things that are

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Speaker 3: out there now. So I wasn't really in the know

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Speaker 3: of that hype. But now I'm really starting to see it,

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Speaker 3: and I just come back to you can make whether

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Speaker 3: it's vending our real estate, you can make it as

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Speaker 3: passive as you want to, granted all the upfront effort,

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Speaker 3: it's just you're going to let go of control. And

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Speaker 3: I see this all the time with our operators in

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Speaker 3: our community. Is you got those that will have a

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Speaker 3: day job and they'll go stock forty machines, and then

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Speaker 3: you got people like me where I quantify the value

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Speaker 3: of my time and like, I am totally fine with

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Speaker 3: finding an operator and letting them take control of some

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Speaker 3: of those tasks that I don't think are worth my time,

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Speaker 3: and I will cut into my margins happily to make

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Speaker 3: it as passive as possible.

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Speaker 2: Yeah. I mean the same thing in real estate when

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Speaker 2: you hire property manager versus self management, and you're exactly

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Speaker 2: you're paying to unload the hassle and the time suck

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Speaker 2: and the potential frustrations of that gig. But you yeah,

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Speaker 2: you minimize profitability. And you also there are other troubles

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Speaker 2: you might run into with that strategy too, which we

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Speaker 2: want to get into. I'm curious too though, before we

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Speaker 2: get into it, we want to talk a ton about,

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Speaker 2: you know, vending machines in particular. How does like traditional

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Speaker 2: investing in retirement accounts in the stock market, which is

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Speaker 2: incredibly passive as well, but it obviously takes time to

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Speaker 2: build up a nest egg, how does that factor into

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Speaker 2: your passive income masterplan.

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Speaker 3: Yeah, it's it's a huge part of it. I mean

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Speaker 3: we have we've kind of set up a system or

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Speaker 3: I guess a pie, so to speak, and split up

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Speaker 3: the pie in different sectors. You know, I look at

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Speaker 3: it as like a passive income Disneyland, you know, vendings

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Speaker 3: and the cash flow Kingdom. We got the the stock market,

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Speaker 3: and long term kingdom over here, and there's just different

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Speaker 3: you know, the real estate kingdom with our We have

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Speaker 3: an airbnb in Florida that we bought sight unseen. So

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Speaker 3: there's just there's different pieces of the pie and we

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Speaker 3: try to keep it as balanced as possible. You know.

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Speaker 3: The thing with vending compared to like our our index

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Speaker 3: funds and things like that, is it's actually a lot

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Speaker 3: more stable these days. I mean, you guys probably follow

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Speaker 3: the market a lot more close closely than me. But

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Speaker 3: it's been an interesting ride since the election in November,

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Speaker 3: and and each day I'm like, wow, I'm way up,

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Speaker 3: and then by the end of the day, I'm like

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Speaker 3: way down or y versa. And it's like, holy caligator, because.

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Speaker 2: You said you think we might pay more attention, but

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Speaker 2: not really. It's pretty passive on that too, so I'm

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Speaker 2: not I'm not really looking all that much, which is

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Speaker 2: some of the benefits, I guess of being kind of

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Speaker 2: a long term passive investor.

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Speaker 3: Exactly. Yeah, yeah, so I think all of it's important.

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Speaker 3: It's it's all it's just like you know what we

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Speaker 3: were talking about earlier, Like even with exercise and diet,

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Speaker 3: it's everything has a place in moderation right now. There's

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Speaker 3: no doubt there's a revolution with AI and and people

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Speaker 3: love to use that buzzword, but I look at it

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Speaker 3: as what are the industries that are going through massive

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Speaker 3: disruption are ready, and then how do we make those

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Speaker 3: things passive? So the reason like I'm so bullish on

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Speaker 3: vending and not to like plug vending, but venning is

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Speaker 3: going through a massive disruption right now. Like if you

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Speaker 3: guys go into the like when you fly to Vegas,

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Speaker 3: when you land in the Vegas airport and you go

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Speaker 3: down the escalator where it says welcome to Las Vegas.

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Speaker 3: There's literally a seven to eleven store at the bottom

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Speaker 3: of the escalator that is employeeless, and you walk in,

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Speaker 3: the gate opens to the store with your credit card,

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Speaker 3: and you walk out, Like the AI sensors literally track

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Speaker 3: everything you grab and like, to me, that's unattended retail.

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Speaker 3: That's technically vending. But like people think of vending as

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Speaker 3: like the machine with a lego set in at the

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Speaker 3: O'Hare airport. And so the reason I'm so bullish on

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Speaker 3: vending is because not because it's a new concept, it's

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Speaker 3: like it's going through a massive disruption with unattended retail

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Speaker 3: with AI everything around it, and I think that could

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Speaker 3: be for anything. I mean, I come back to like

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Speaker 3: some of these Airbnb tools and things that now you

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Speaker 3: can like we bought our house sight unseen in Florida,

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Speaker 3: but we backdoored the comp comps of it by reaching

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Speaker 3: out to the neighborhood properties that are on Airbnb and

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Speaker 3: got in with the PM and we knew W two

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Speaker 3: within ten percent or sorry W nine, like revenue wise,

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Speaker 3: what it was going to do as a rental by

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Speaker 3: just and now with AI, you like that would be

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Speaker 3: so much more streamlined.

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Speaker 2: Yeah, okay, so let's get all the way into vending

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Speaker 2: machine talk. You talk about real estate and hey, I

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Speaker 2: want to buy that next property, but I don't have

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Speaker 2: twenty percent to put down on it. It's going to take

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Speaker 2: me a heck of a long time to get going

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Speaker 2: in that space and to really ramp up my real

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Speaker 2: estate investments. So and then you have this, you know,

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Speaker 2: airport moment where you're like, somebody else is sleeping right

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Speaker 2: now and they're making money off me. Is was that

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Speaker 2: kind of part of the push into ventding machines saying listen,

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Speaker 2: the capital that's needed is minimal and this is something

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Speaker 2: that can scale, Like what are the benefits of vending,

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Speaker 2: you know, running and owning vending machines as opposed to

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Speaker 2: other ways of trying to pursue passive income.

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Speaker 3: Yeah, so at the time, all I had and was

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Speaker 3: the real estate properties, which required twenty percent down. I

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Speaker 3: also bought some miners for bitcoin at the time, I

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Speaker 3: think it was like twenty eighteen or twenty nineteen, and

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Speaker 3: those required a little bit of a significant investment of

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Speaker 3: the miners and the facility and stuff. So I was

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Speaker 3: testing out a little bit of different things. But when

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Speaker 3: I bought the or when I was in that airport

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Speaker 3: and I saw that machine with that water, at the time,

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Speaker 3: I didn't know that you could buy those machines with

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Speaker 3: minimal money down. I also didn't know how consistent the

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Speaker 3: cash flow would be. The other thing that really played

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Speaker 3: a factor at the time was I hated looking in

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Speaker 3: those machines and seeing the types of products that were

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Speaker 3: sold in those machines. Like if you look at when

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Speaker 3: I got into this before COVID to now like now

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Speaker 3: you literally these smart machines. They are just smart coolers

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Speaker 3: with a lock on the door and a point of sale,

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Speaker 3: so you could it's just shelf space, so you could

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Speaker 3: put in theory. I mean, we have people that will

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Speaker 3: put packs of eggs in there, they'll put keifer in there,

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Speaker 3: they'll put olive oil in there.

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Speaker 1: It's just a lot of like a hippie vending machine.

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Speaker 3: Yeah yeah, but like it's like a corner store machine.

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Speaker 1: I guess a Brussel Sprats and my vending machine.

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Speaker 3: Yeah, but you think about it. I mean, honestly, like

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Speaker 3: we have tampons, we have day quill, niquil, Like Walgreens

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Speaker 3: just announced they're closing twelve hundred stores. Well, what do

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Speaker 3: people willing to pay for for convenience? And so it's

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Speaker 3: just kind of like this perfect storm of the industry

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Speaker 3: alongside technology disruption.

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Speaker 2: It certainly only makes a vending machine possibilities sound well, extremely.

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Speaker 1: Well, specifically to what you consider these smart coolers essentially,

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Speaker 1: which is what you like, I've seen you post a

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Speaker 1: picture of this up on X But like with one

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Speaker 1: of those, like, how much are we talking about being

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Speaker 1: able to make from a single well placed quote unquote

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Speaker 1: vending machine that's actually kind of looks like a mini

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Speaker 1: fridge that's.

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Speaker 3: Sensors and and all this other other sort.

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Speaker 1: Of stuff like that's that's what folks appetite here as

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Speaker 1: we are talking about vending machines.

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Speaker 3: Yeah, so we we had an old school machine with

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Speaker 3: the kind of the motors and the you had to

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Speaker 3: enter a C four on the on the little code

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Speaker 3: and then snickers would spiral down and then shoot down

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Speaker 3: into the chute and you had to grab it. So

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Speaker 3: we replaced one of those with a smart machine, same

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Speaker 3: exact location as an apartment complex. We went from doing

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Speaker 3: twelve hundred dollars a month in revenue to twenty five

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Speaker 3: hundred dollars a month in revenue really in one month,

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Speaker 3: and it's purely off of when you open that so

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Speaker 3: you have to the doors are locked on these smart machines.

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Speaker 3: You have to put a credit card or tap your

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Speaker 3: phone to unlock the door. It authorizes that you actually

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Speaker 3: have money in your account, it's not just a gift card.

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Speaker 3: And then whatever you grab once that door is unlocked,

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Speaker 3: the AI cameras track it. So you build out a

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Speaker 3: planogram that's like, oh, the case of eggs is in

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Speaker 3: the bottom right corner, the laundry detergent pods are in

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Speaker 3: the bottom left corner. So once that door's open, people

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Speaker 3: will just grab multiple things because you don't have to

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Speaker 3: re enter on a machine a code. So watch something inspired. Yeah,

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Speaker 3: you're reducing friction exactly.

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Speaker 1: Are going to try the keyfer Yeah?

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Speaker 2: Yeah, like your friend told me about it, time to

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Speaker 2: hop on it.

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Speaker 3: But yeah, but think about it, like people go to

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Speaker 3: a machine thinking they're going to get a water or

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Speaker 3: a bag of chips or snickers, and now that the

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Speaker 3: door's open, they'll just grab three different things and walk

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Speaker 3: away and it just charges your cart. Man.

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Speaker 2: It just makes me think of the advice I would

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Speaker 2: give to people using the vending machine, though, would be

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Speaker 2: to not use them, just because of how expensive it

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Speaker 2: is and how hey, you could go buy a case

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Speaker 2: of water at Costco for the same price you're getting

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Speaker 2: one water from the vending machine. But I guess on

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Speaker 2: the other side, you can capitalize on the fact that

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Speaker 2: people like vending machines and they like convenient.

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Speaker 1: Or if you just don't have the ability to you know,

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Speaker 1: like let's say the car broke down, but you're there

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Speaker 1: at the apartment complex and you're like, dang it, I

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Speaker 1: really need some eggs. I'm willing to pay a slightly

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Speaker 1: higher premium in order to have that now, because guess what,

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Speaker 1: it's time to feed the kids, time to cook breakfast. Yeah,

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Speaker 1: but Mike, we've got plenty more questions to get to.

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Speaker 1: We're gonna ask all about vending machines, what it takes

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Speaker 1: to be a vending preneur. We'll get to all of

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Speaker 1: that right after this. Okay, we're back from the break.

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Speaker 2: We're still talking with Mike, mister passive about investing for

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Speaker 2: it to get passive income, and specifically we're talking about

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Speaker 2: vending machines. And it is this is a fascinating subject, Mike,

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Speaker 2: because I think most people listening, myself included, before I

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Speaker 2: started to dive into this, I am thinking about the

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Speaker 2: old school Snickers machine, and I am thinking about the

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Speaker 2: fact that like, who uses those anymore? But you're right,

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Speaker 2: like you can get legos. I mean, there's a million

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Speaker 2: things you can get. The vending machines are made in

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Speaker 2: all sorts of different shapes and sizes and varieties. Now,

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Speaker 2: can you talk to me maybe about what other kinds

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Speaker 2: of ending machines exist? And also you mentioned the you know,

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Speaker 2: increase in revenue from getting that nicer smart machine, the

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Speaker 2: cooler version. Yeah, how much those machines cost.

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Speaker 3: Yeah, So there's all kinds. There's kind of the what

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Speaker 3: we would call smart machines, like we're talking about here

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Speaker 3: with the coolers that are locked and the point of

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Speaker 3: sale on the door. And then there's the open market.

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Speaker 3: So if you think of everyone stayed at a Marriott

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Speaker 3: or a Hilton where there's a little market connected to

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Speaker 3: the check in desk, and theory you can build out

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Speaker 3: those are just shelves and you can just build those.

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Speaker 3: We do a lot of open milk markets at like

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Speaker 3: office buildings and throw a camera on there, and you

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Speaker 3: really don't have to worry about theft because you can

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Speaker 3: throw a sign on the market that says you'll be

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Speaker 3: to or have hr to it, you'll be terminated if

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Speaker 3: you get caught stealing. So in those scenarios where you're

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Speaker 3: really not worried about theft, that you're not worried about

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Speaker 3: the drunk Kig coming home at two A and rating

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Speaker 3: the open market, there's those options, And then you know,

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Speaker 3: I'm a huge believer in these smart machines just because

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Speaker 3: the flexibility in the shelf space. You can do if

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Speaker 3: it fits on the shelf, it doesn't matter if it's

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Speaker 3: dayquill or if it's a twelve ounce celsius, you can

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Speaker 3: do whatever you want.

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Speaker 1: Interesting, Okay, So what makes in your opinion, like, what

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Speaker 1: makes the best location for one of these vending machines

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Speaker 1: or one of these smart coolers.

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Speaker 3: The simplest way I would say it is if it

434
00:21:26,920 --> 00:21:29,840
Speaker 3: has a full parking lot, it would it would do great.

435
00:21:30,880 --> 00:21:34,200
Speaker 3: So if there's people there exactly so, so backing up,

436
00:21:34,640 --> 00:21:36,399
Speaker 3: think of it this way. You got two types. You

437
00:21:36,480 --> 00:21:40,040
Speaker 3: got high employees, so a business with a lot of employees,

438
00:21:40,720 --> 00:21:42,760
Speaker 3: and then you got high foot traffic. So think of

439
00:21:42,840 --> 00:21:45,480
Speaker 3: like a YMCA, think of an urgent care of that

440
00:21:45,640 --> 00:21:49,880
Speaker 3: hospital and apartment complex. Any of those type of places

441
00:21:49,880 --> 00:21:53,400
Speaker 3: that have high foot traffic or high employee counts would

442
00:21:53,440 --> 00:21:55,240
Speaker 3: both crush it with machines.

443
00:21:55,560 --> 00:21:59,520
Speaker 2: I'm thinking about maybe early Another early vending machine example

444
00:21:59,600 --> 00:22:03,119
Speaker 2: would be red Box, right, and red Box dominated and

445
00:22:03,160 --> 00:22:07,320
Speaker 2: now their I source in front of every store possible,

446
00:22:07,320 --> 00:22:09,840
Speaker 2: Like nobody is literally going is going down to the

447
00:22:09,840 --> 00:22:12,320
Speaker 2: CBS or to Kroger to rend a DVD to watch

448
00:22:12,320 --> 00:22:16,560
Speaker 2: that night. So is that like an example of an

449
00:22:16,560 --> 00:22:20,680
Speaker 2: opportunity maybe for vending machine entrepreneurs to say, listen, I

450
00:22:20,760 --> 00:22:23,240
Speaker 2: want to take the spot that the Red Box occupies

451
00:22:23,600 --> 00:22:26,160
Speaker 2: or has occupied in all these locations, and I want

452
00:22:26,160 --> 00:22:29,399
Speaker 2: to like offer something much better for the retailer and

453
00:22:29,400 --> 00:22:30,080
Speaker 2: for consumers.

454
00:22:30,280 --> 00:22:33,280
Speaker 3: Yeah, I don't know if we're going to go that far.

455
00:22:33,320 --> 00:22:35,359
Speaker 3: I think the reason the Red Box is the is

456
00:22:35,400 --> 00:22:37,600
Speaker 3: the I soore is because it's not being used, so

457
00:22:37,640 --> 00:22:40,760
Speaker 3: it's been sitting there because DVDs are no longer. I

458
00:22:40,800 --> 00:22:42,760
Speaker 3: would take it a step further, and you think about

459
00:22:42,840 --> 00:22:46,040
Speaker 3: that convenience store you go into where you go to

460
00:22:46,119 --> 00:22:48,520
Speaker 3: the back corner and it's got all the fridges and

461
00:22:48,560 --> 00:22:52,639
Speaker 3: it's got a diet coke cooler and a Pepsi cooler.

462
00:22:52,920 --> 00:22:55,880
Speaker 3: Those coolers are made by the same company that makes

463
00:22:55,880 --> 00:22:58,879
Speaker 3: the smart coolers, And so I would go to it

464
00:22:58,920 --> 00:23:02,880
Speaker 3: where I would challenge you that, like by twenty twenty eight,

465
00:23:02,960 --> 00:23:05,320
Speaker 3: that convenience store where the Red Box is outside, when

466
00:23:05,359 --> 00:23:07,879
Speaker 3: you walk in, there's either going to be point of

467
00:23:08,000 --> 00:23:10,240
Speaker 3: sales on every door of those coolers so you don't

468
00:23:10,280 --> 00:23:12,440
Speaker 3: have to go to the front register and wait in line,

469
00:23:12,960 --> 00:23:16,040
Speaker 3: or there's gonna be AI cameras so when you walk

470
00:23:16,040 --> 00:23:18,320
Speaker 3: in you put your credit card in that that AI

471
00:23:18,680 --> 00:23:21,720
Speaker 3: tracks you through the shelves and what you grab when

472
00:23:21,760 --> 00:23:24,480
Speaker 3: you walk out. So it's Almos, it's going to be employeless.

473
00:23:24,480 --> 00:23:28,439
Speaker 3: I mean that's where we're going that Vegas. Uh uh

474
00:23:28,960 --> 00:23:31,560
Speaker 3: just walk out technology by Amazon with for the seven

475
00:23:31,560 --> 00:23:35,880
Speaker 3: to eleven it within the next two years, Hudson bookstores

476
00:23:35,920 --> 00:23:38,600
Speaker 3: and airports will have no employees. I am very confident

477
00:23:38,640 --> 00:23:40,720
Speaker 3: in that. Okay, We'll just think of like at the

478
00:23:40,760 --> 00:23:44,200
Speaker 3: grocery store, the self checkout, Like people now there's bigger

479
00:23:44,240 --> 00:23:46,200
Speaker 3: lines at self checkout because they don't want to talk

480
00:23:46,240 --> 00:23:48,720
Speaker 3: to anyone. They just want to go grab their stuff

481
00:23:48,720 --> 00:23:49,160
Speaker 3: and leave.

482
00:23:49,359 --> 00:23:51,000
Speaker 2: Yeah, I'm gonna have to turn off the podcast I'm

483
00:23:51,040 --> 00:23:53,760
Speaker 2: listening to in order to talk to the which I'm

484
00:23:53,840 --> 00:23:55,440
Speaker 2: you know, I'm fine with because I'm a I'm a

485
00:23:55,520 --> 00:23:57,080
Speaker 2: chatty guy, but still I get that, Mike.

486
00:23:57,280 --> 00:23:59,919
Speaker 1: Okay. So Joel asking about the red box locations got

487
00:24:00,119 --> 00:24:01,960
Speaker 1: me thinking because on one hand, I was like, oh, yeah,

488
00:24:01,960 --> 00:24:05,119
Speaker 1: that's smart because there's already maybe the infrastructure needed in

489
00:24:05,200 --> 00:24:07,479
Speaker 1: order to run a vending machine or a smart cooler

490
00:24:08,200 --> 00:24:11,040
Speaker 1: because there used to be something here. How remote can

491
00:24:11,080 --> 00:24:13,520
Speaker 1: you go with these machines? Like, I guess what is

492
00:24:13,560 --> 00:24:16,560
Speaker 1: the infrastructure that's needed? Obviously, I'm guessing you need some

493
00:24:16,600 --> 00:24:19,600
Speaker 1: sort of electrical hookup, but like, do you need Wi

494
00:24:19,640 --> 00:24:21,359
Speaker 1: Fi as well in order to be able to communicate

495
00:24:21,400 --> 00:24:22,879
Speaker 1: with the payment service.

496
00:24:23,080 --> 00:24:26,359
Speaker 3: No, so yeah, you just need one ten bowl so

497
00:24:26,520 --> 00:24:28,800
Speaker 3: just normal outlet and a lot of these outlets you

498
00:24:28,920 --> 00:24:31,040
Speaker 3: just like to have two outlets. You just need the

499
00:24:31,040 --> 00:24:34,000
Speaker 3: one and run a searge cord to be protective. And

500
00:24:34,080 --> 00:24:38,960
Speaker 3: then we like we actually prefer not to be connected

501
00:24:38,960 --> 00:24:41,840
Speaker 3: to Wi Fi just because like if Wi Fi goes

502
00:24:41,880 --> 00:24:44,639
Speaker 3: down and let's say it's a location that doesn't have

503
00:24:44,720 --> 00:24:48,520
Speaker 3: strong Wi Fi anyway, So we do these routers on

504
00:24:48,560 --> 00:24:51,600
Speaker 3: the machines on the back of the machine that connects

505
00:24:51,600 --> 00:24:54,000
Speaker 3: to two different cell towers. So we'll typically do like

506
00:24:54,160 --> 00:24:56,639
Speaker 3: Verizon and AT and T. In case one of the

507
00:24:56,680 --> 00:24:59,280
Speaker 3: cell towers goes down, it automatically kicks over to.

508
00:24:59,240 --> 00:25:03,480
Speaker 2: The other one using five G instead of WiFi exactly. Yeah, okay,

509
00:25:03,560 --> 00:25:06,679
Speaker 2: all right, interesting, Okay, what about let's say you find

510
00:25:07,160 --> 00:25:11,119
Speaker 2: a primo location and you're like, boom, this is my

511
00:25:11,200 --> 00:25:12,000
Speaker 2: ticket to riches.

512
00:25:12,160 --> 00:25:14,080
Speaker 1: Got all the foot traffic, it's got all the employees.

513
00:25:14,119 --> 00:25:15,960
Speaker 2: You'll stick this vending machine in here, and I'm gonna

514
00:25:15,960 --> 00:25:18,520
Speaker 2: crush and I'm gonna make money while I'm sleeping, well,

515
00:25:18,880 --> 00:25:21,520
Speaker 2: do you have to typically pay for that space? Do

516
00:25:21,560 --> 00:25:24,560
Speaker 2: you have to pay a commission to a landlord or

517
00:25:24,560 --> 00:25:27,440
Speaker 2: something like that. How do you go about once you've

518
00:25:27,440 --> 00:25:31,639
Speaker 2: identified places that a vending machine would make sense in

519
00:25:31,680 --> 00:25:34,000
Speaker 2: your opinion? Or I don't know, maybe can you cannibalize

520
00:25:34,000 --> 00:25:36,159
Speaker 2: somebody else's business too and say go to a the

521
00:25:36,240 --> 00:25:38,320
Speaker 2: landlord and say, hey, these crummy vending machines. I could

522
00:25:38,359 --> 00:25:40,439
Speaker 2: do something way better than that for you, Like, how

523
00:25:40,440 --> 00:25:42,560
Speaker 2: are you identifying opportunities and do you have to pay

524
00:25:42,600 --> 00:25:43,680
Speaker 2: for those opportunities?

525
00:25:43,920 --> 00:25:48,800
Speaker 3: Yeah, so you'd actually be surprised. We probably have half

526
00:25:48,840 --> 00:25:52,200
Speaker 3: of our locations don't have a revenue share and they

527
00:25:52,520 --> 00:25:54,520
Speaker 3: or we don't have to pay rent. In fact, a

528
00:25:54,520 --> 00:25:56,919
Speaker 3: lot of these places view it as an amenity for

529
00:25:57,040 --> 00:26:01,280
Speaker 3: their employees or their residence at depending on what type

530
00:26:01,280 --> 00:26:05,399
Speaker 3: of location. I see both sides of it. Like you know, clearly,

531
00:26:05,440 --> 00:26:08,680
Speaker 3: if you don't have to rent space through a revenue share,

532
00:26:09,040 --> 00:26:11,159
Speaker 3: your margins are going to be a little bit better.

533
00:26:11,280 --> 00:26:14,080
Speaker 3: But the reason I don't mind paying a revenue share

534
00:26:14,200 --> 00:26:16,960
Speaker 3: pain rent is because when they have skin in the

535
00:26:17,000 --> 00:26:20,760
Speaker 3: game to help you promote the machine to their employees

536
00:26:20,840 --> 00:26:23,480
Speaker 3: or their residents, they're going to be a lot more motivated.

537
00:26:23,600 --> 00:26:26,800
Speaker 3: So if they do get a revenue share from you

538
00:26:26,920 --> 00:26:30,520
Speaker 3: or a rent check based on profits or something, they're

539
00:26:30,560 --> 00:26:32,240
Speaker 3: going to want to help market it for you, whether

540
00:26:32,280 --> 00:26:35,639
Speaker 3: that's promos, whether that's like employee the month credit to

541
00:26:35,680 --> 00:26:40,720
Speaker 3: the market downstairs or whatever. So I actually don't mind

542
00:26:40,760 --> 00:26:41,200
Speaker 3: that at all.

543
00:26:42,040 --> 00:26:44,320
Speaker 1: So when you do when there is a rev share,

544
00:26:44,560 --> 00:26:45,679
Speaker 1: typically what's that split?

545
00:26:46,840 --> 00:26:47,520
Speaker 3: Does it very?

546
00:26:47,560 --> 00:26:48,439
Speaker 1: I guess depending on the.

547
00:26:48,560 --> 00:26:50,919
Speaker 3: Yeah, yeah, And you can also parlay it. We do

548
00:26:50,960 --> 00:26:54,040
Speaker 3: a lot of parlaying where it's like, okay, if it's

549
00:26:54,040 --> 00:26:56,880
Speaker 3: above five property, if we know they have a bunch

550
00:26:56,920 --> 00:26:58,800
Speaker 3: of sister properties in the area, or a bunch of

551
00:26:58,840 --> 00:27:01,800
Speaker 3: sister businesses, or let's say it's a YMCA chain and

552
00:27:01,840 --> 00:27:05,160
Speaker 3: we want to get the whole whole region, will parlay

553
00:27:05,280 --> 00:27:08,440
Speaker 3: and say, oh, it's let's say it's three percent up

554
00:27:08,480 --> 00:27:10,600
Speaker 3: to five properties, and then then it jumps up to

555
00:27:10,640 --> 00:27:11,199
Speaker 3: eight percent.

556
00:27:11,440 --> 00:27:15,119
Speaker 1: Okay. My mind keeps going to these smart coolers. Ever see, like,

557
00:27:15,160 --> 00:27:18,000
Speaker 1: ever since seeing the picture of it that you posted online,

558
00:27:18,200 --> 00:27:21,360
Speaker 1: I'm kind of like thinking through different spots, like where

559
00:27:21,400 --> 00:27:21,720
Speaker 1: we live.

560
00:27:21,880 --> 00:27:24,880
Speaker 3: It looks like sticking, it looks like a bookshelf, doesn't it. Yeah.

561
00:27:24,960 --> 00:27:28,000
Speaker 1: Yeah, it actually like I get why property owners and

562
00:27:28,080 --> 00:27:30,120
Speaker 1: quote unquote landlords might even want to promote it because

563
00:27:30,119 --> 00:27:32,480
Speaker 1: they do look classy. It's not like like the old

564
00:27:32,520 --> 00:27:35,240
Speaker 1: school vending machines where it's this giant thing that actually

565
00:27:35,320 --> 00:27:37,280
Speaker 1: looks like a giant can of coke or something with

566
00:27:37,280 --> 00:27:39,679
Speaker 1: the colors and people are hitting on it trying to

567
00:27:40,280 --> 00:27:42,159
Speaker 1: get a free coke out of it. It's it's a

568
00:27:42,200 --> 00:27:44,960
Speaker 1: different type of vending machine. And even saying vending machine

569
00:27:45,160 --> 00:27:47,560
Speaker 1: isn't I feel like it's not quite fair, but like

570
00:27:47,720 --> 00:27:47,960
Speaker 1: it's like.

571
00:27:48,080 --> 00:27:50,960
Speaker 2: Using old school terminology for something it's changed.

572
00:27:51,080 --> 00:27:52,880
Speaker 1: So we're talking about the difference between like these old

573
00:27:52,880 --> 00:27:54,919
Speaker 1: school machines and the new ones. Did you say how

574
00:27:55,000 --> 00:27:56,160
Speaker 1: much these new machines cost?

575
00:27:56,560 --> 00:28:01,119
Speaker 3: Oh, so that one would be you're putting me on

576
00:28:01,160 --> 00:28:03,479
Speaker 3: the spot. I think they're around like eight or nine grand.

577
00:28:03,600 --> 00:28:04,280
Speaker 1: Eight or nine grand.

578
00:28:04,760 --> 00:28:07,360
Speaker 3: If you're in our community, I'll just give a little

579
00:28:07,359 --> 00:28:09,280
Speaker 3: plug here. I think you get fifteen percent off. So

580
00:28:09,320 --> 00:28:12,280
Speaker 3: I think our community pays around seven or something.

581
00:28:12,440 --> 00:28:16,280
Speaker 1: Oh nice, Okay, So I assume that that's a significant

582
00:28:16,560 --> 00:28:19,080
Speaker 1: investment over kind of like the old school style of

583
00:28:19,160 --> 00:28:21,440
Speaker 1: vending machine. Do you feel like that it's worth it

584
00:28:21,520 --> 00:28:24,920
Speaker 1: to get some of these newer machines. And you've documented

585
00:28:24,920 --> 00:28:28,200
Speaker 1: how folks are able to pretty much overnight double their

586
00:28:28,600 --> 00:28:31,000
Speaker 1: double their revenue on that machine. Is it worth it

587
00:28:31,000 --> 00:28:33,160
Speaker 1: to go ahead and just splurge for this nicer machine

588
00:28:33,200 --> 00:28:34,400
Speaker 1: if somebody's wanting to get into it.

589
00:28:34,600 --> 00:28:37,000
Speaker 3: Yeah, I would recommend that. One. It helps your sales

590
00:28:37,080 --> 00:28:39,160
Speaker 3: pitch on the front end because you're not leading with

591
00:28:39,240 --> 00:28:42,320
Speaker 3: like an iore traditional machine. But two, I mean we

592
00:28:42,400 --> 00:28:45,720
Speaker 3: do this all the time where you know, if it's

593
00:28:45,760 --> 00:28:48,160
Speaker 3: as so so location, we'll test it out with a

594
00:28:48,280 --> 00:28:51,800
Speaker 3: traditional machine, And a traditional machine is still fifty five

595
00:28:51,880 --> 00:28:55,040
Speaker 3: hundred or six grand, so you're still unless you buy

596
00:28:55,080 --> 00:28:57,280
Speaker 3: it used off Craigslist like I did for my first

597
00:28:57,280 --> 00:29:00,840
Speaker 3: one and then it broke four months later. But you know,

598
00:29:01,760 --> 00:29:04,920
Speaker 3: you're still if you're going to spend six grand for

599
00:29:05,240 --> 00:29:08,800
Speaker 3: a new new, quote unquote old school looking machine, you

600
00:29:08,840 --> 00:29:12,200
Speaker 3: might as well just splurge and get a Because for us,

601
00:29:12,280 --> 00:29:15,760
Speaker 3: when we switched out the traditional machine with the smart machine,

602
00:29:16,160 --> 00:29:18,120
Speaker 3: I mean that's an extra twelve hundred bucks a month.

603
00:29:18,440 --> 00:29:23,160
Speaker 2: And yeah, you've talked too about how financing those machines,

604
00:29:23,840 --> 00:29:29,440
Speaker 2: just paying for them over time can allow someone to

605
00:29:29,560 --> 00:29:33,280
Speaker 2: get in to kind of get reap some profits. Instead

606
00:29:33,320 --> 00:29:35,480
Speaker 2: of feeling like they've got to save up the full

607
00:29:35,800 --> 00:29:39,480
Speaker 2: price of the machine ahead of time, you're able to

608
00:29:39,480 --> 00:29:42,040
Speaker 2: move a little bit quicker and kind of prove out

609
00:29:42,080 --> 00:29:46,920
Speaker 2: the methodology of that passive income attempt right exactly.

610
00:29:47,000 --> 00:29:49,320
Speaker 3: And you don't even have to really get caught up

611
00:29:49,360 --> 00:29:52,560
Speaker 3: on the interest rates at the time, like, oh, rates

612
00:29:52,560 --> 00:29:54,600
Speaker 3: aren't coming down type of thing, because on a seven

613
00:29:54,640 --> 00:29:57,120
Speaker 3: thousand dollars machine, if you finance it that let's say

614
00:29:57,120 --> 00:30:01,240
Speaker 3: fifteen percent. The difference between fifteen ten percent and eight

615
00:30:01,280 --> 00:30:04,640
Speaker 3: percent on a machine, or even five percent on a

616
00:30:04,680 --> 00:30:07,520
Speaker 3: machine is only like seven to eight dollars a month,

617
00:30:08,080 --> 00:30:11,080
Speaker 3: because it's only on a six thousand dollars loan or

618
00:30:11,120 --> 00:30:13,520
Speaker 3: whatever it is, depending on your money down. So for us,

619
00:30:14,280 --> 00:30:17,240
Speaker 3: we always prefer to finance and then pay them off

620
00:30:17,280 --> 00:30:20,640
Speaker 3: in a year. That's kind of how our model is.

621
00:30:21,200 --> 00:30:23,360
Speaker 1: It's a lot easier to stomach than yeah, going all

622
00:30:23,400 --> 00:30:26,520
Speaker 1: in on real estate. Okay, before the break, you mentioned

623
00:30:27,240 --> 00:30:30,600
Speaker 1: your sort of epiphany moment when you sort of realize

624
00:30:30,600 --> 00:30:32,880
Speaker 1: that wait a minute, vitting machines. It was a bottle

625
00:30:32,920 --> 00:30:37,200
Speaker 1: of water. And I think you even said something about

626
00:30:37,200 --> 00:30:39,520
Speaker 1: somebody buying that at Costco? Is that typically what you

627
00:30:39,600 --> 00:30:42,880
Speaker 1: do when it comes to supplying or stocking some of

628
00:30:42,920 --> 00:30:46,520
Speaker 1: these different vitting machines. Where are you getting the stuff

629
00:30:46,560 --> 00:30:47,240
Speaker 1: to stick in there?

630
00:30:47,480 --> 00:30:50,520
Speaker 3: Yeah, so that's where I started. We live in a

631
00:30:50,560 --> 00:30:53,160
Speaker 3: town that has Costco but doesn't have SAM, so we

632
00:30:54,160 --> 00:30:57,959
Speaker 3: went down the Costco train. I actually am releasing this

633
00:30:58,120 --> 00:31:04,479
Speaker 3: month a platform that I've negotiated direct pricing with folks

634
00:31:04,520 --> 00:31:08,080
Speaker 3: like Coke and Pepsi and all these brands because the

635
00:31:08,120 --> 00:31:12,000
Speaker 3: problem with Costco as you're missing out on rebates, and

636
00:31:12,040 --> 00:31:14,960
Speaker 3: a lot of these brands want you to buy their

637
00:31:14,960 --> 00:31:19,440
Speaker 3: products so they'll give you significant rebates, and so Costco.

638
00:31:19,480 --> 00:31:20,920
Speaker 3: If you're getting started and you want to try to

639
00:31:20,920 --> 00:31:24,040
Speaker 3: build a out yourself, absolutely you just go wherever it's cheapest.

640
00:31:24,080 --> 00:31:28,360
Speaker 3: I mean even Walmart supercenters have good prices on salads.

641
00:31:28,360 --> 00:31:30,120
Speaker 3: But the problem about going there is you know you

642
00:31:30,200 --> 00:31:33,280
Speaker 3: got a six day shelf life. So I mean, we

643
00:31:33,320 --> 00:31:36,600
Speaker 3: have folks that'll go to all kinds of places based

644
00:31:36,640 --> 00:31:38,160
Speaker 3: on what they have access.

645
00:31:37,760 --> 00:31:41,000
Speaker 2: To, So talk about getting that route started. Let's say

646
00:31:41,160 --> 00:31:44,080
Speaker 2: you have a couple of machines. You have to kind

647
00:31:44,080 --> 00:31:49,240
Speaker 2: of monitor inventory, be purchasing new inventory showing up to

648
00:31:49,800 --> 00:31:53,560
Speaker 2: restock the vending machine, especially early on, like before you

649
00:31:53,680 --> 00:31:57,040
Speaker 2: hired staff to kind of help do some of those

650
00:31:57,040 --> 00:32:00,760
Speaker 2: things for you, What was that like and what's it

651
00:32:00,840 --> 00:32:02,600
Speaker 2: like to manage a handful of bending machines.

652
00:32:02,960 --> 00:32:06,320
Speaker 3: Yeah, So for me, and you'll hear this a lot

653
00:32:06,360 --> 00:32:09,400
Speaker 3: with people in our community, is it's actually kind of

654
00:32:09,480 --> 00:32:13,440
Speaker 3: therapeutic to stalk a machine. Like you were saying earlier, Literally,

655
00:32:13,480 --> 00:32:15,680
Speaker 3: you have your pods in, you're listening to a podcast,

656
00:32:15,760 --> 00:32:19,920
Speaker 3: you're listening to music, You're in your own little element.

657
00:32:19,960 --> 00:32:22,280
Speaker 3: If you have a family, you're just kind of you know,

658
00:32:22,320 --> 00:32:25,160
Speaker 3: it's an excuse to kind of go off on your own.

659
00:32:25,360 --> 00:32:28,120
Speaker 3: And the great thing with this is you can stalk

660
00:32:28,160 --> 00:32:30,479
Speaker 3: on your time. So if you're a like with our

661
00:32:30,560 --> 00:32:32,560
Speaker 3: operators that we hire, I always say, if you're a

662
00:32:32,760 --> 00:32:35,480
Speaker 3: morning early riser, ghost stalk in the morning, if you're

663
00:32:35,480 --> 00:32:37,480
Speaker 3: a night owl, ghost stock at night. It just needs

664
00:32:37,520 --> 00:32:41,000
Speaker 3: to be consistent. And so for when you get going,

665
00:32:41,480 --> 00:32:43,880
Speaker 3: you get into a battle rhythm. So when I got

666
00:32:43,920 --> 00:32:45,920
Speaker 3: started with my first couple of machines, and I didn't

667
00:32:45,920 --> 00:32:49,080
Speaker 3: really feel comfortable making it passive yet because I didn't

668
00:32:49,080 --> 00:32:51,440
Speaker 3: even know what I was delegating because I was literally

669
00:32:51,520 --> 00:32:55,360
Speaker 3: learning this as I went. I would order product once

670
00:32:55,400 --> 00:32:58,280
Speaker 3: a week from costco dot com. They had free two

671
00:32:58,320 --> 00:33:01,400
Speaker 3: day delivery above seventy five bucks, which you're clearly going

672
00:33:01,480 --> 00:33:04,440
Speaker 3: to hit that when you order product. We didn't have

673
00:33:04,480 --> 00:33:07,360
Speaker 3: a garage at our house, so I bought a little

674
00:33:07,440 --> 00:33:11,320
Speaker 3: landscaping shed from Costco, a little like four by six

675
00:33:11,440 --> 00:33:14,840
Speaker 3: landscaping shed. I put it right inside the fence to

676
00:33:14,960 --> 00:33:18,200
Speaker 3: our yard, right next to the driveway, and when these

677
00:33:18,200 --> 00:33:21,280
Speaker 3: boxes came in from Costco, I would just throw the

678
00:33:21,320 --> 00:33:24,920
Speaker 3: product in that landscaping shed. And then you're tracking everything

679
00:33:24,920 --> 00:33:26,720
Speaker 3: from your phone, so I could log in right now

680
00:33:26,760 --> 00:33:29,960
Speaker 3: and track of all, you know, sixty machines. I could

681
00:33:30,000 --> 00:33:32,560
Speaker 3: see what's selling, what's not, what we need to restock

682
00:33:32,640 --> 00:33:35,440
Speaker 3: it with, And so I would. When I was getting started,

683
00:33:35,760 --> 00:33:38,600
Speaker 3: I would whenever I go out to hit balls or

684
00:33:38,640 --> 00:33:41,120
Speaker 3: go out to the gym. Usually at the time with

685
00:33:41,200 --> 00:33:44,280
Speaker 3: two machines, you're spending about an hour a week. So

686
00:33:44,360 --> 00:33:46,960
Speaker 3: I would block off, let's say Fridays, because going into

687
00:33:46,960 --> 00:33:49,400
Speaker 3: the weekend with apartments, you want those baby stocks. So

688
00:33:49,440 --> 00:33:51,080
Speaker 3: I would look at my phone, say, okay, I need

689
00:33:51,120 --> 00:33:53,440
Speaker 3: eight snickers, ten diet cokes and I throw throw the

690
00:33:53,480 --> 00:33:56,760
Speaker 3: inventory in a bucket, and I had one bucket per machine,

691
00:33:56,800 --> 00:33:58,600
Speaker 3: and I throw in the back of my car. And

692
00:33:58,640 --> 00:34:00,240
Speaker 3: when I was heading out to run errands, I would

693
00:34:00,240 --> 00:34:02,640
Speaker 3: literally go buy the machines with my pods in and

694
00:34:03,320 --> 00:34:06,440
Speaker 3: do the stalking. And that's kind of how it was

695
00:34:06,440 --> 00:34:06,840
Speaker 3: set up.

696
00:34:07,160 --> 00:34:11,000
Speaker 2: Did keeping track of the inventory and like what was

697
00:34:11,000 --> 00:34:14,160
Speaker 2: selling and what wasn't did that help you make some

698
00:34:14,280 --> 00:34:18,440
Speaker 2: changes and identify maybe snacks that weren't selling so hot,

699
00:34:18,520 --> 00:34:22,600
Speaker 2: and say, wait a second, people don't like the orange

700
00:34:22,600 --> 00:34:24,799
Speaker 2: fans to drink, they want the purple fans to drink

701
00:34:24,840 --> 00:34:26,480
Speaker 2: or whatever it is. Did that kind of help you

702
00:34:26,600 --> 00:34:29,439
Speaker 2: make changes? Like, oh, wait, coke zero instead of regular coke.

703
00:34:29,960 --> 00:34:33,000
Speaker 2: Turns out folks don't like the keyfer Yeah yeah.

704
00:34:32,800 --> 00:34:36,399
Speaker 3: Yeah, no, absolutely, and you start to I mean, I'm

705
00:34:36,440 --> 00:34:41,120
Speaker 3: a huge believer in doubling down on what's selling the whole,

706
00:34:41,200 --> 00:34:44,200
Speaker 3: like pricing psychology stuff I didn't know what I didn't know,

707
00:34:44,280 --> 00:34:47,400
Speaker 3: Like I didn't know why PEPSI will put a monster

708
00:34:47,560 --> 00:34:52,520
Speaker 3: next to a cheaper spinoff energy drink on purpose because

709
00:34:52,600 --> 00:34:54,920
Speaker 3: people will just pay more for the Monster because they

710
00:34:54,920 --> 00:34:57,040
Speaker 3: think it's a nicer product, because it's listed for a

711
00:34:57,080 --> 00:34:59,080
Speaker 3: higher price, Like I didn't know any of that stuff.

712
00:34:59,160 --> 00:35:02,359
Speaker 3: So for me, I was like fascinated, Like, Okay, if

713
00:35:02,400 --> 00:35:07,719
Speaker 3: we're selling smart waters, but we're not smelling selling any Gatorades,

714
00:35:07,800 --> 00:35:11,279
Speaker 3: let's pull the Gatorades and now let's add perier water,

715
00:35:11,440 --> 00:35:16,480
Speaker 3: let's add desawny water. Like double down on the category

716
00:35:16,560 --> 00:35:18,960
Speaker 3: that's working. So if you're selling a ton of Celsius

717
00:35:18,960 --> 00:35:21,759
Speaker 3: and Alani, pull the rock star in the monster and

718
00:35:21,800 --> 00:35:25,520
Speaker 3: double down on quote unquote the newer, modern, healthier energy

719
00:35:25,640 --> 00:35:29,520
Speaker 3: drinks because that's probably like a college kid type property.

720
00:35:29,760 --> 00:35:32,839
Speaker 3: I mean, we have two apartment complexes. This will blow

721
00:35:32,880 --> 00:35:35,040
Speaker 3: your mind. We have two apartment complexes. They both have

722
00:35:35,120 --> 00:35:38,279
Speaker 3: a smart machine and each one one of them is

723
00:35:38,280 --> 00:35:40,520
Speaker 3: for college kids that go to Oregon. The other one

724
00:35:40,600 --> 00:35:43,680
Speaker 3: is for the crowd that's like fifty to sixty five

725
00:35:43,719 --> 00:35:46,080
Speaker 3: years old that will just rent their whole life. The

726
00:35:46,120 --> 00:35:50,799
Speaker 3: one machine for the college kids literally has products in

727
00:35:50,880 --> 00:35:53,239
Speaker 3: it I didn't even know existed. Like I didn't even

728
00:35:53,239 --> 00:35:55,279
Speaker 3: know what these wrap snacks were. I didn't know what

729
00:35:55,320 --> 00:35:57,040
Speaker 3: these like Skittles gummies were, Like.

730
00:35:57,280 --> 00:36:00,360
Speaker 1: The kids, Oh my god, Dune.

731
00:36:00,920 --> 00:36:05,080
Speaker 3: Yeah. And then the other apartment complex literally will sell

732
00:36:05,120 --> 00:36:06,680
Speaker 3: thirty diet cokes in two days.

733
00:36:07,800 --> 00:36:08,680
Speaker 2: You gotta know your clients.

734
00:36:08,840 --> 00:36:10,960
Speaker 1: And I'm like, well, he's crazy. That's so funny.

735
00:36:11,200 --> 00:36:13,759
Speaker 3: Exactly, you double down on what works so like to me,

736
00:36:13,840 --> 00:36:15,840
Speaker 3: I'm like, wait, should we And the great thing with

737
00:36:15,880 --> 00:36:18,279
Speaker 3: these smart machines, it's like, well, shoot, should we put

738
00:36:18,280 --> 00:36:21,319
Speaker 3: a six pack of diet coke in here? You can?

739
00:36:21,840 --> 00:36:25,200
Speaker 1: That's so crazy. Okay, So, like you mentioned multiple, you know,

740
00:36:25,239 --> 00:36:27,960
Speaker 1: you've got these two different apartment complexes. How many machines

741
00:36:28,360 --> 00:36:31,279
Speaker 1: overall do you have? Like I guess I'm curious as

742
00:36:31,280 --> 00:36:33,960
Speaker 1: to how big you can get? Do you You just exhaled?

743
00:36:34,000 --> 00:36:36,279
Speaker 1: Do you even know how many machines you have?

744
00:36:36,480 --> 00:36:38,600
Speaker 3: Yeah? Well I just got to know ifcation. We have

745
00:36:38,640 --> 00:36:40,960
Speaker 3: seven that just shipped today, So I think we're up

746
00:36:41,000 --> 00:36:45,200
Speaker 3: to sixty machines. Okay, we do. We do have two routes.

747
00:36:45,360 --> 00:36:48,759
Speaker 3: I bought a route out of state and run that

748
00:36:48,840 --> 00:36:52,840
Speaker 3: remotely or have have an operator that runs that remotely.

749
00:36:53,160 --> 00:36:55,440
Speaker 3: I spent about an hour a week on that route

750
00:36:55,560 --> 00:36:58,520
Speaker 3: just helping like close more locations, Like that's the only

751
00:36:58,560 --> 00:37:02,440
Speaker 3: thing that's not passive that route for me. And then

752
00:37:02,680 --> 00:37:05,200
Speaker 3: we have the route here in Oregon as well, which

753
00:37:05,960 --> 00:37:08,839
Speaker 3: we have seven machines shipping. We just had four come

754
00:37:08,920 --> 00:37:11,239
Speaker 3: last week, so we're kind of at that point now

755
00:37:11,280 --> 00:37:14,920
Speaker 3: where we know what works. Were also not the new

756
00:37:15,000 --> 00:37:17,080
Speaker 3: kid on the block anymore, so there's a lot of

757
00:37:17,120 --> 00:37:20,080
Speaker 3: referrals and stuff, and like we were talking about earlier,

758
00:37:20,440 --> 00:37:22,880
Speaker 3: people are now seeing these smart machines out there, so

759
00:37:22,920 --> 00:37:23,440
Speaker 3: they want that.

760
00:37:23,920 --> 00:37:26,239
Speaker 2: So you have people now working for you to help

761
00:37:26,280 --> 00:37:29,439
Speaker 2: make this passive so that you can, you know, work

762
00:37:29,440 --> 00:37:32,040
Speaker 2: your day job, make a lot of supplemental income from

763
00:37:32,080 --> 00:37:33,920
Speaker 2: the vending machines, but also not have to put a

764
00:37:33,960 --> 00:37:37,480
Speaker 2: whole whole lot of time and effort into it, except

765
00:37:37,480 --> 00:37:39,600
Speaker 2: for maybe like the business building aspect of it, which

766
00:37:39,680 --> 00:37:42,759
Speaker 2: sounds like you're more interested in how important are like

767
00:37:42,840 --> 00:37:47,560
Speaker 2: systems and people to growing your passive income and making

768
00:37:47,640 --> 00:37:51,880
Speaker 2: these vending machines become more like a lucrative, you know,

769
00:37:52,000 --> 00:37:55,160
Speaker 2: side hustle instead of like a massive part time or

770
00:37:55,200 --> 00:37:56,600
Speaker 2: full time job with big headaches.

771
00:37:56,840 --> 00:37:58,799
Speaker 3: You know, I think that you just hit the nail

772
00:37:58,840 --> 00:38:01,200
Speaker 3: on the head. That is the number one bottleneck I

773
00:38:01,239 --> 00:38:04,160
Speaker 3: see with our ventingpreneurs is they want to do everything,

774
00:38:04,360 --> 00:38:09,960
Speaker 3: and I think it's like the classic just I want

775
00:38:09,960 --> 00:38:11,359
Speaker 3: to do it. I'm the only one that knows how

776
00:38:11,360 --> 00:38:14,520
Speaker 3: to do it, mindset or just honestly being scared ask

777
00:38:14,560 --> 00:38:17,680
Speaker 3: for help. I mean, we've all been there before, and

778
00:38:17,760 --> 00:38:21,560
Speaker 3: so I think that's for me personally. I spend an

779
00:38:21,560 --> 00:38:24,160
Speaker 3: hour a week on our vending route, and honestly, it's

780
00:38:24,520 --> 00:38:28,440
Speaker 3: literally I have a half hour blocked out on Fridays

781
00:38:28,480 --> 00:38:32,800
Speaker 3: to any properties that are close to signing a contract

782
00:38:32,800 --> 00:38:35,480
Speaker 3: with US. I follow up with those like high leverage,

783
00:38:35,719 --> 00:38:39,320
Speaker 3: you know, because as you add locations really parlays the revenue.

784
00:38:39,640 --> 00:38:41,840
Speaker 3: But then also a half hour to check in with

785
00:38:41,880 --> 00:38:47,399
Speaker 3: our gms of each route. But I see in our

786
00:38:47,440 --> 00:38:50,680
Speaker 3: community all the time, guys, I blows my mind. They're like, oh, well,

787
00:38:50,680 --> 00:38:52,399
Speaker 3: I don't want to hire that twenty dollars an hour

788
00:38:52,480 --> 00:38:55,160
Speaker 3: stalker because now instead of my profit margins being fifty

789
00:38:55,200 --> 00:38:57,960
Speaker 3: percent or forty percent, And I'm like, yeah, but what

790
00:38:58,000 --> 00:39:01,239
Speaker 3: if you were doing twenty grand instead of ten random month?

791
00:39:01,360 --> 00:39:05,840
Speaker 2: Yeah yeah, it's like short sighted to yeah, yeah, to

792
00:39:06,280 --> 00:39:09,000
Speaker 2: avoid growing the thing because there's only so much one

793
00:39:09,040 --> 00:39:10,879
Speaker 2: person can do. But if you bring other people in,

794
00:39:11,000 --> 00:39:14,360
Speaker 2: as long as you're a savvy manager and you're looking

795
00:39:14,360 --> 00:39:16,680
Speaker 2: towards other opportunities, it's like the sky's a limit.

796
00:39:16,960 --> 00:39:22,319
Speaker 3: Yeah, and with these type of kind of these type

797
00:39:22,360 --> 00:39:25,680
Speaker 3: of people you're hiring, you literally have a lot of

798
00:39:25,719 --> 00:39:30,040
Speaker 3: flexibility with finding good talent, you trust, because if they

799
00:39:30,040 --> 00:39:33,080
Speaker 3: have a morning job, they can do it in the afternoon.

800
00:39:33,120 --> 00:39:34,680
Speaker 3: If they have a night job, they can do it

801
00:39:34,680 --> 00:39:38,359
Speaker 3: in the morning. If it's Monday versus Tuesday, I don't care,

802
00:39:38,400 --> 00:39:40,400
Speaker 3: it just needs to be done one of those days

803
00:39:40,440 --> 00:39:43,440
Speaker 3: every week. Like, there's so much flexibility to find good

804
00:39:43,480 --> 00:39:46,399
Speaker 3: talent because it's like DoorDash er uber. These workers can

805
00:39:46,440 --> 00:39:48,680
Speaker 3: literally that's where I found a lot of our best

806
00:39:48,719 --> 00:39:52,959
Speaker 3: talent initially was on Craigslist gigs, not even Craigslist jobs,

807
00:39:53,000 --> 00:39:56,920
Speaker 3: but gigs because these people probably already have day jobs

808
00:39:57,080 --> 00:40:01,040
Speaker 3: and so they're responsible, they have kids, they need supplementary

809
00:40:01,120 --> 00:40:02,839
Speaker 3: income or else they wouldn't even be on there.

810
00:40:03,040 --> 00:40:04,960
Speaker 1: Yeah, Okay, I don't want to cover ground that we've

811
00:40:04,960 --> 00:40:07,919
Speaker 1: already covered. But you mentioned earlier something else you said

812
00:40:08,040 --> 00:40:11,200
Speaker 1: was like you mentioned salads. But then the downside there

813
00:40:11,280 --> 00:40:12,919
Speaker 1: is like it's got a shelf life of maybe only

814
00:40:12,960 --> 00:40:16,520
Speaker 1: six six days. Like what are the craziest things that

815
00:40:17,000 --> 00:40:18,880
Speaker 1: folks in your network that they're selling on there or

816
00:40:18,920 --> 00:40:21,120
Speaker 1: stuff that you've seen I guess I think about here

817
00:40:21,400 --> 00:40:24,560
Speaker 1: in Atlanta, there's like a pizza vending machine that made

818
00:40:24,600 --> 00:40:28,319
Speaker 1: the news at some point last year. Obviously this that

819
00:40:28,400 --> 00:40:31,160
Speaker 1: goes beyond what we're talking about here, but like I guess,

820
00:40:31,160 --> 00:40:33,719
Speaker 1: in your machines, what's like, what are some of the

821
00:40:33,719 --> 00:40:36,000
Speaker 1: more kind of out there items that you were selling.

822
00:40:36,280 --> 00:40:40,279
Speaker 3: Yeah, so the pizza vending machine is definitely a fun

823
00:40:40,320 --> 00:40:44,080
Speaker 3: one to watch. You also got the Lego machine at O'Hare.

824
00:40:44,120 --> 00:40:46,239
Speaker 3: Always cracks me up because there's not a Lego set

825
00:40:46,280 --> 00:40:48,279
Speaker 3: in there for less than seventy five bucks. But if

826
00:40:48,320 --> 00:40:51,240
Speaker 3: you think about flying with your kids across the country

827
00:40:51,239 --> 00:40:53,479
Speaker 3: for six hours, like I would pay seventy five bucks

828
00:40:53,520 --> 00:40:54,240
Speaker 3: for a Lego.

829
00:40:54,560 --> 00:40:57,480
Speaker 1: So branding play for Lego, I'm sure.

830
00:40:57,400 --> 00:41:00,759
Speaker 3: Oh absolutely yeah. So I think for us, it's it's

831
00:41:00,800 --> 00:41:05,520
Speaker 3: really kind of diving into some of these niche convenience items.

832
00:41:05,520 --> 00:41:09,440
Speaker 3: Like we have one of our entrepreneurs in the Dallas area.

833
00:41:09,560 --> 00:41:13,600
Speaker 3: His wife's actually a beaued a Titian or something, and

834
00:41:14,360 --> 00:41:17,680
Speaker 3: they have one of these smart machines on college campus

835
00:41:17,800 --> 00:41:20,799
Speaker 3: and they'll sell shampoo for like thirty like high end

836
00:41:20,880 --> 00:41:24,719
Speaker 3: shampoo for like thirty five dollars. Gee, and that machine

837
00:41:24,719 --> 00:41:26,719
Speaker 3: that smart machine that we were talking about earlier that

838
00:41:26,719 --> 00:41:30,040
Speaker 3: looks like a bookshelf. They have those one machine doing

839
00:41:30,080 --> 00:41:33,759
Speaker 3: over five grand, multiple one of the like multiple machines

840
00:41:33,800 --> 00:41:35,560
Speaker 3: doing over five grand a month each.

841
00:41:35,719 --> 00:41:39,680
Speaker 4: That's crazy, And is that way? Is that profit or revenue?

842
00:41:39,719 --> 00:41:42,800
Speaker 4: So no, no revenue. So they're probably like he literally

843
00:41:42,800 --> 00:41:47,160
Speaker 4: has five machines around this college campus that is doing

844
00:41:47,200 --> 00:41:51,319
Speaker 4: over twenty grand a month. He's he's doing and he

845
00:41:51,360 --> 00:41:53,839
Speaker 4: has a day job. He's a high school teacher. He's

846
00:41:53,880 --> 00:41:55,840
Speaker 4: doing over ten grand a month. And I think he

847
00:41:55,960 --> 00:41:59,040
Speaker 4: just finally hired an operator because I was on him

848
00:41:59,160 --> 00:42:02,680
Speaker 4: forever about like, dude, just give up some margin. You

849
00:42:02,760 --> 00:42:05,200
Speaker 4: might now instead of ten grand in profit, you might

850
00:42:05,239 --> 00:42:06,240
Speaker 4: do eight grand in profit.

851
00:42:06,280 --> 00:42:08,359
Speaker 2: But it's okay, yeah, yeah, for really, it just means

852
00:42:08,400 --> 00:42:11,240
Speaker 2: you can Expand we've got just a few more questions

853
00:42:11,239 --> 00:42:14,879
Speaker 2: to get to with you, Mike, specifically finishing up on

854
00:42:15,080 --> 00:42:19,319
Speaker 2: the vending machine stuff on kind of entrepreneurship in that way,

855
00:42:19,360 --> 00:42:22,040
Speaker 2: and also just a couple of questions. I'm curious about

856
00:42:22,080 --> 00:42:24,160
Speaker 2: that airbnb you mentioned too. I want to dig into that.

857
00:42:24,200 --> 00:42:26,080
Speaker 2: We'll give to a few more questions with Mike. Right

858
00:42:26,120 --> 00:42:26,560
Speaker 2: after this.

859
00:42:34,280 --> 00:42:37,920
Speaker 1: We are back for the break talking with Mike aka

860
00:42:37,960 --> 00:42:41,840
Speaker 1: mister Passive about vending machines, and my eyes have certainly

861
00:42:42,040 --> 00:42:44,880
Speaker 1: been open to this entire industry. If it kind of

862
00:42:44,880 --> 00:42:47,920
Speaker 1: feels like the scales of following up, yeah, a certain extent,

863
00:42:48,200 --> 00:42:50,400
Speaker 1: But I'm gonna kind of, like, I guess, flip the

864
00:42:50,400 --> 00:42:53,040
Speaker 1: whole vending machine thing on its head because this is

865
00:42:53,080 --> 00:42:56,319
Speaker 1: totally unrelated. Mike. I heard you say one time something

866
00:42:56,360 --> 00:42:59,279
Speaker 1: about the power of being relationally driven. I think this

867
00:42:59,360 --> 00:43:02,520
Speaker 1: is a separate conversation that you're having. But like you

868
00:43:02,760 --> 00:43:05,160
Speaker 1: mentioned how a thank you note, how that helped you

869
00:43:05,239 --> 00:43:08,919
Speaker 1: to land a job one time. I'm sorry to shift

870
00:43:08,920 --> 00:43:11,360
Speaker 1: gear so suddenly, but like maybe the power of networking.

871
00:43:11,480 --> 00:43:14,080
Speaker 1: And it's interesting too, I guess, given the conversation we're

872
00:43:14,120 --> 00:43:16,359
Speaker 1: having about vending machines, But yeah, talk about that.

873
00:43:16,320 --> 00:43:18,359
Speaker 2: Highly relational too. I would think getting getting your vending

874
00:43:18,360 --> 00:43:19,360
Speaker 2: machines in the right place.

875
00:43:19,320 --> 00:43:22,200
Speaker 3: Absolutely, Yeah, I mean even dropping off gift baskets of

876
00:43:22,239 --> 00:43:25,399
Speaker 3: items that you put in your machines to the front

877
00:43:25,400 --> 00:43:28,680
Speaker 3: desk of a property you're trying to close. Or I'm

878
00:43:28,719 --> 00:43:32,240
Speaker 3: a huge old school I'm also Midwest values like trust

879
00:43:32,400 --> 00:43:36,759
Speaker 3: is number one thing to me, So I actually when

880
00:43:36,800 --> 00:43:41,160
Speaker 3: I was moving from Saint Louis to Silicon Valley and

881
00:43:41,239 --> 00:43:43,839
Speaker 3: Menlo Park. The reason I got the job over two

882
00:43:43,920 --> 00:43:50,480
Speaker 3: others in a highly competitive human performance professional athlete kind

883
00:43:50,520 --> 00:43:53,120
Speaker 3: of environment was because of a thank you note I

884
00:43:53,160 --> 00:43:57,640
Speaker 3: wrote after my job interview and to like, you know,

885
00:43:57,640 --> 00:43:59,400
Speaker 3: I don't know if it's how I was raised it

886
00:43:59,440 --> 00:44:02,120
Speaker 3: with my parents or whatever, but I'm huge into the

887
00:44:02,200 --> 00:44:07,000
Speaker 3: soft skills and and that's the number one thing, especially today,

888
00:44:07,080 --> 00:44:10,879
Speaker 3: people are so when I guess, lazy when it comes

889
00:44:10,920 --> 00:44:13,680
Speaker 3: to things like that. And so how do you stand

890
00:44:13,719 --> 00:44:15,600
Speaker 3: out doing the simple things?

891
00:44:15,719 --> 00:44:16,719
Speaker 2: Yeah, that's a good point.

892
00:44:16,800 --> 00:44:17,160
Speaker 1: Simple.

893
00:44:17,400 --> 00:44:21,280
Speaker 2: It's not like it's this complicated thing to stand out, but.

894
00:44:20,640 --> 00:44:22,920
Speaker 1: But like actually doing the leg wars like like like

895
00:44:22,960 --> 00:44:25,480
Speaker 1: we like, gosh, you even you saying it. It's like,

896
00:44:25,600 --> 00:44:28,240
Speaker 1: that's not it's not rocket science to take a gift

897
00:44:28,239 --> 00:44:30,319
Speaker 1: basket of the items you're looking to sell to get

898
00:44:30,320 --> 00:44:32,160
Speaker 1: them on board, and all of a sudden they're like, okay, yeah,

899
00:44:32,200 --> 00:44:34,440
Speaker 1: why not? But like, who is willing to take that

900
00:44:34,560 --> 00:44:38,200
Speaker 1: last little five percent to in this case close the deals?

901
00:44:38,239 --> 00:44:39,960
Speaker 2: Like twelve bucks in a little bit of thought goes

902
00:44:39,960 --> 00:44:42,600
Speaker 2: a long way. Yeah, right, I could net you thousands

903
00:44:42,840 --> 00:44:43,760
Speaker 2: and you guys nail.

904
00:44:43,560 --> 00:44:45,400
Speaker 3: It on the head, Like I was at the National

905
00:44:45,480 --> 00:44:48,879
Speaker 3: Vending Conference and I'm not you know, I didn't grow

906
00:44:49,000 --> 00:44:51,799
Speaker 3: up studying the industry of vending. So I was like,

907
00:44:51,840 --> 00:44:54,120
Speaker 3: but I went this year to this conference, first time

908
00:44:54,160 --> 00:44:57,960
Speaker 3: I've been there. Crazy, Like, there are ninety five percent

909
00:44:58,000 --> 00:45:00,719
Speaker 3: of the machine companies are from China. You think of

910
00:45:00,800 --> 00:45:04,840
Speaker 3: every single snack you've ever had, ranging from beef jerky

911
00:45:04,880 --> 00:45:09,320
Speaker 3: to crackers to Alli pop, poppy, Celsius, Pepsi, Mars Wrigley.

912
00:45:10,280 --> 00:45:13,319
Speaker 3: There's over five hundred vendors there. I probably met with

913
00:45:13,400 --> 00:45:16,520
Speaker 3: two hundred of them. I gave out my business card.

914
00:45:16,600 --> 00:45:19,000
Speaker 3: Guess how many of those two hundred actually sent me

915
00:45:19,040 --> 00:45:20,440
Speaker 3: a follow up after that conference?

916
00:45:20,800 --> 00:45:21,160
Speaker 1: Three?

917
00:45:21,680 --> 00:45:27,120
Speaker 3: One? Okay, wow, one person, and guess who's getting my business.

918
00:45:26,880 --> 00:45:27,399
Speaker 2: That one guy?

919
00:45:27,480 --> 00:45:27,719
Speaker 1: Yeah?

920
00:45:27,840 --> 00:45:28,400
Speaker 2: Makes sense.

921
00:45:28,719 --> 00:45:31,640
Speaker 1: Man, a beef jerky vending machine, by the way, sounds amazing.

922
00:45:31,840 --> 00:45:34,600
Speaker 3: Well, but even like something simple like that, I'm like

923
00:45:34,680 --> 00:45:37,480
Speaker 3: the power and a follow up. We have all bought

924
00:45:38,200 --> 00:45:42,280
Speaker 3: from humans, Like I've bought my car from a sales

925
00:45:42,280 --> 00:45:43,920
Speaker 3: rep that wouldn't leave me alone.

926
00:45:44,080 --> 00:45:45,840
Speaker 1: It's ironic, though, I guess. At the same time, like,

927
00:45:45,880 --> 00:45:48,960
Speaker 1: so we're talking about the power of human connection. But

928
00:45:49,360 --> 00:45:52,640
Speaker 1: we're talking about vending machines. Yeah, right, which is like

929
00:45:52,680 --> 00:45:55,799
Speaker 1: kind of the opposite, not to like crap all over

930
00:45:55,880 --> 00:45:58,000
Speaker 1: vending machines. Do you ever think about that? Just the

931
00:45:58,040 --> 00:46:00,440
Speaker 1: fact that I don't know if you read this is

932
00:46:00,440 --> 00:46:03,799
Speaker 1: a few weeks ago now. Derek Thompson's piece over at

933
00:46:03,840 --> 00:46:05,440
Speaker 1: The Atlantic. He's a front of the show, he's been

934
00:46:05,440 --> 00:46:06,960
Speaker 1: on before, but he kind of talks about how we're

935
00:46:07,000 --> 00:46:09,960
Speaker 1: the anti social, like we're living in the anti social century,

936
00:46:10,120 --> 00:46:11,880
Speaker 1: and like vening machines, they kind of do that, like

937
00:46:11,880 --> 00:46:17,160
Speaker 1: there's a certain amount of anti social behavior that they promote. Yeah,

938
00:46:17,200 --> 00:46:20,280
Speaker 1: what are your thoughts again, I'm not looking to drag

939
00:46:21,200 --> 00:46:22,680
Speaker 1: vening machines through the mud or anything, but do you

940
00:46:22,719 --> 00:46:23,440
Speaker 1: ever think about that?

941
00:46:24,480 --> 00:46:26,560
Speaker 3: I haven't looked at it from that broad lens. I

942
00:46:26,560 --> 00:46:29,680
Speaker 3: mean what you just mentioned regarding Derek, I think it

943
00:46:29,800 --> 00:46:33,399
Speaker 3: ties directly into all of us at the grocery store.

944
00:46:33,440 --> 00:46:35,840
Speaker 3: Like we go to self checkout so we can still

945
00:46:35,960 --> 00:46:39,200
Speaker 3: have our podcast on there. We don't want the front

946
00:46:39,239 --> 00:46:43,160
Speaker 3: desk lady to our front us sorry, the register lady

947
00:46:43,200 --> 00:46:46,839
Speaker 3: to complain about whatever, so we just want to stay

948
00:46:46,840 --> 00:46:49,120
Speaker 3: in our lane. So I definitely think a piece of that,

949
00:46:49,160 --> 00:46:53,759
Speaker 3: but like people aren't going to a vending machine. It's

950
00:46:53,800 --> 00:46:56,400
Speaker 3: not like you're skipping out on a party to go

951
00:46:56,440 --> 00:47:00,000
Speaker 3: to a veny. Like to me, it's your pain for convenience,

952
00:47:00,280 --> 00:47:03,759
Speaker 3: We're not I mean sure, like, yeah, humans are expensive

953
00:47:03,800 --> 00:47:07,040
Speaker 3: and all of that, but like even the Hudson bookstore example,

954
00:47:07,080 --> 00:47:09,360
Speaker 3: you're still gonna have employees around there to stalk the

955
00:47:09,440 --> 00:47:13,920
Speaker 3: shelves until we really get into robots. I mean, I

956
00:47:13,920 --> 00:47:17,000
Speaker 3: don't know, I mean, it definitely plays a part. It's

957
00:47:17,040 --> 00:47:18,319
Speaker 3: an interesting thought, for sure.

958
00:47:18,480 --> 00:47:19,720
Speaker 1: Yeah, that's a fair defense.

959
00:47:19,719 --> 00:47:23,160
Speaker 2: I think what they said about ATMs, But like, ultimately,

960
00:47:23,440 --> 00:47:30,040
Speaker 2: lots of these technological you know, innovations actually accelerate a

961
00:47:30,080 --> 00:47:34,360
Speaker 2: lot of more relational, more highly productive jobs. So instead

962
00:47:34,360 --> 00:47:37,600
Speaker 2: of the opposite, right, killing jobs, they kill some kinds

963
00:47:37,640 --> 00:47:40,800
Speaker 2: of jobs, but oftentimes there's room for bigger and better jobs.

964
00:47:41,160 --> 00:47:44,360
Speaker 2: I'm curious too, Mike, you mentioned buying the Airbnb in

965
00:47:44,480 --> 00:47:47,839
Speaker 2: Florida sight unseen. That is one of those things that

966
00:47:48,800 --> 00:47:50,880
Speaker 2: scares me a little bit, like just kind of like

967
00:47:50,880 --> 00:47:54,279
Speaker 2: buying real estate without ever laying eyes on it.

968
00:47:54,280 --> 00:47:54,919
Speaker 1: It sounds like.

969
00:47:55,000 --> 00:47:57,480
Speaker 2: Relationships were kind of at least a part of how

970
00:47:57,800 --> 00:47:58,880
Speaker 2: that deal came about.

971
00:47:58,920 --> 00:48:01,840
Speaker 1: As well. How how did you buy.

972
00:48:01,680 --> 00:48:04,080
Speaker 2: A property without ever looking at it and how'd they

973
00:48:04,160 --> 00:48:04,840
Speaker 2: work out for you?

974
00:48:05,600 --> 00:48:09,960
Speaker 3: Yeah, so I've done that twice now. One time was

975
00:48:10,000 --> 00:48:12,600
Speaker 3: a little less risky back in Saint Louis. It's kind

976
00:48:12,600 --> 00:48:15,120
Speaker 3: of where we had another one, and after we moved

977
00:48:15,160 --> 00:48:18,239
Speaker 3: away from Saint Louis, I knew the neighborhood, but yes

978
00:48:18,600 --> 00:48:23,480
Speaker 3: I did. I did a kind of a backdoor development

979
00:48:23,560 --> 00:48:25,760
Speaker 3: here in Oregon where we did a home in an adu,

980
00:48:25,880 --> 00:48:28,640
Speaker 3: but we fenced off the adu as almost like when

981
00:48:28,680 --> 00:48:30,480
Speaker 3: you drive up to the lot, it looked like separate

982
00:48:30,480 --> 00:48:32,799
Speaker 3: homes on separate lots type of thing. And then had

983
00:48:32,800 --> 00:48:36,120
Speaker 3: two tenants and we got a pretty significant off market

984
00:48:36,160 --> 00:48:38,480
Speaker 3: offer for that. And I was on a on a

985
00:48:38,560 --> 00:48:41,759
Speaker 3: ten thirty one and I had read something on X

986
00:48:41,840 --> 00:48:45,840
Speaker 3: around people loving and it was kind of during COVID

987
00:48:45,880 --> 00:48:48,840
Speaker 3: people loving a vacation to Florida because it's driving distance

988
00:48:48,880 --> 00:48:52,360
Speaker 3: from Atlanta and everywhere in the South blah blah blah.

989
00:48:52,520 --> 00:48:54,520
Speaker 3: And it was also right outside of Tampa, so I

990
00:48:54,600 --> 00:48:58,879
Speaker 3: knew there's a military base there, there's there's all kinds

991
00:48:58,880 --> 00:49:02,919
Speaker 3: of business there, YadA YadA. And so what I did

992
00:49:03,040 --> 00:49:05,560
Speaker 3: is I ran some comps, and I was like, okay,

993
00:49:05,600 --> 00:49:10,920
Speaker 3: four bedrooms with a pools is gonna do well. And

994
00:49:11,000 --> 00:49:14,799
Speaker 3: so I went to Airbnb. I literally reached out to

995
00:49:14,880 --> 00:49:18,840
Speaker 3: the hosts that had the highest ratings and most ratings

996
00:49:18,960 --> 00:49:22,680
Speaker 3: in Clearwater, where our rental was, and I just reached

997
00:49:22,680 --> 00:49:24,320
Speaker 3: out to her and said, hey, we're in the market

998
00:49:24,360 --> 00:49:29,520
Speaker 3: for a home or looking at a rental, you would

999
00:49:29,520 --> 00:49:31,400
Speaker 3: you hop on a call? And she was actually a host,

1000
00:49:31,400 --> 00:49:35,360
Speaker 3: she was a property manager. So not only was she

1001
00:49:35,360 --> 00:49:39,480
Speaker 3: she shared their revenue for the year before to confirm

1002
00:49:39,920 --> 00:49:42,000
Speaker 3: the comps I was looking at, but then she was

1003
00:49:42,040 --> 00:49:46,520
Speaker 3: like also had a realer license, and so she's like, oh, well,

1004
00:49:46,520 --> 00:49:49,080
Speaker 3: I can also help you find a home that aligns

1005
00:49:49,120 --> 00:49:52,960
Speaker 3: with our home that we were discussing on Airbnb. So

1006
00:49:53,000 --> 00:49:56,920
Speaker 3: that's actually how we bought the home side unseen and

1007
00:49:57,000 --> 00:49:59,000
Speaker 3: it's done over six figures every year.

1008
00:49:59,400 --> 00:50:01,680
Speaker 1: Very cool. That's so you got man, Yeah you got

1009
00:50:01,719 --> 00:50:05,359
Speaker 1: that monthly cash flow. But I'm assuming you've seen some

1010
00:50:05,400 --> 00:50:07,640
Speaker 1: appreciation there at this properties as well.

1011
00:50:07,960 --> 00:50:10,919
Speaker 3: Yeah, but we've also dealt with hurricanes too, so.

1012
00:50:14,280 --> 00:50:16,279
Speaker 1: Yeah, a lot of money to cover your insurance costs.

1013
00:50:17,440 --> 00:50:20,080
Speaker 3: Yeah, yeah, exactly. I mean we were doing very well

1014
00:50:20,120 --> 00:50:23,839
Speaker 3: and we have some gains and equity tucked away there.

1015
00:50:23,880 --> 00:50:26,280
Speaker 3: I think now that we're having kids out in Oregon

1016
00:50:26,320 --> 00:50:29,279
Speaker 3: that are younger and want to kind of getting to

1017
00:50:29,360 --> 00:50:31,960
Speaker 3: Florida's getting harder and harder to because we also wanted

1018
00:50:31,960 --> 00:50:35,200
Speaker 3: to visit, so we might look at more of a

1019
00:50:35,280 --> 00:50:39,279
Speaker 3: central Oregon Parlay ten thirty one back closer. That's a

1020
00:50:39,400 --> 00:50:42,120
Speaker 3: drive away instead of a flight away. But I mean,

1021
00:50:42,160 --> 00:50:44,760
Speaker 3: I would do it all over again if I could.

1022
00:50:45,280 --> 00:50:48,759
Speaker 1: Nice awesome, Well, Mike, we really appreciate you sharing your

1023
00:50:48,800 --> 00:50:51,920
Speaker 1: story with us. Just maybe I feel like you are

1024
00:50:52,000 --> 00:50:54,600
Speaker 1: kind of changing the tune a little bit when it

1025
00:50:54,640 --> 00:50:57,440
Speaker 1: comes to what it looks like to be a vendingpreneur.

1026
00:50:57,800 --> 00:51:01,680
Speaker 1: But where can folks learn more about you? It's not

1027
00:51:01,719 --> 00:51:04,120
Speaker 1: a class, but the program that you offer and what

1028
00:51:04,160 --> 00:51:04,920
Speaker 1: it is that you're up to.

1029
00:51:05,239 --> 00:51:08,520
Speaker 3: Yeah, man, Joel, thanks for having me. This shows huge

1030
00:51:08,520 --> 00:51:12,120
Speaker 3: fans of it and just appreciate everything you guys have

1031
00:51:12,200 --> 00:51:15,800
Speaker 3: been doing. But yeah, folks want to reach out. Ventingpreneurs

1032
00:51:16,520 --> 00:51:18,759
Speaker 3: is our website around the vending stuff if they're just

1033
00:51:18,840 --> 00:51:22,400
Speaker 3: interested on some of the passive income and just general

1034
00:51:22,440 --> 00:51:28,960
Speaker 3: following more frequent content. X is a pretty place I'm

1035
00:51:29,000 --> 00:51:32,120
Speaker 3: really active and you know I always share things on

1036
00:51:32,160 --> 00:51:34,920
Speaker 3: there as being a former coach, I'm huge on on

1037
00:51:35,040 --> 00:51:38,440
Speaker 3: helping other people along the way and trying to prevent,

1038
00:51:38,680 --> 00:51:42,040
Speaker 3: like if they can skip the pothole that I went through,

1039
00:51:42,200 --> 00:51:42,800
Speaker 3: even better.

1040
00:51:43,200 --> 00:51:44,560
Speaker 1: Love it. Mike, thanks so much, man.

1041
00:51:44,600 --> 00:51:45,799
Speaker 2: We really appreciate you joining us.

1042
00:51:46,000 --> 00:51:48,839
Speaker 3: Thank you, guys, appreciate you well.

1043
00:51:48,840 --> 00:51:53,400
Speaker 1: All right, Joel, I gotta say the I'm laughing to

1044
00:51:53,440 --> 00:51:55,439
Speaker 1: myself because when you think of vending machines, you don't

1045
00:51:55,520 --> 00:51:58,040
Speaker 1: think through what we talked about today, right, Like you

1046
00:51:58,040 --> 00:52:01,719
Speaker 1: don't think three machines that sell high in shampoo that

1047
00:52:02,520 --> 00:52:05,320
Speaker 1: bougie college students are buying on a nice campus. You

1048
00:52:05,719 --> 00:52:08,600
Speaker 1: never crossed my mind. You don't think about organic eggs. Shoot,

1049
00:52:08,600 --> 00:52:11,600
Speaker 1: you could even put like home home raised chicken eggs.

1050
00:52:11,920 --> 00:52:14,359
Speaker 1: I don't know what the license licensing looks like there,

1051
00:52:14,400 --> 00:52:16,520
Speaker 1: but I guess I'm just highlighting the fact that this

1052
00:52:16,600 --> 00:52:19,080
Speaker 1: is it took a different turn than maybe I think

1053
00:52:19,120 --> 00:52:23,480
Speaker 1: we were initially expecting when we had some initial emails

1054
00:52:23,560 --> 00:52:24,160
Speaker 1: with Mike.

1055
00:52:24,360 --> 00:52:28,200
Speaker 2: The mister passive these as your grandpa's vending machines, No,

1056
00:52:28,280 --> 00:52:29,640
Speaker 2: I think is kind of what you're getting at.

1057
00:52:29,880 --> 00:52:32,239
Speaker 1: Yes, they're they're very different and I don't know. I

1058
00:52:32,280 --> 00:52:34,400
Speaker 1: think they could be much more appealing, especially to a

1059
00:52:34,440 --> 00:52:36,920
Speaker 1: lot of our listeners who might be looking into branching

1060
00:52:36,920 --> 00:52:39,080
Speaker 1: out from whatever it is that they're currently doing. But

1061
00:52:39,760 --> 00:52:41,120
Speaker 1: I'll let you go first that what was your big

1062
00:52:41,120 --> 00:52:43,320
Speaker 1: takeaway from our convo today? One?

1063
00:52:43,640 --> 00:52:46,279
Speaker 2: For some reason, it's just bringing up a thought. I

1064
00:52:46,320 --> 00:52:49,160
Speaker 2: have a friend who bought a like you don't even

1065
00:52:49,160 --> 00:52:51,399
Speaker 2: have to just go straight vending machine, just like Mike

1066
00:52:51,520 --> 00:52:53,400
Speaker 2: is mentioning, I had a friend who had a photo

1067
00:52:53,400 --> 00:52:55,960
Speaker 2: booth that she stuck in a record store. That's right,

1068
00:52:56,040 --> 00:52:58,480
Speaker 2: an old coworker of yours. Yeah, And she would make

1069
00:52:58,760 --> 00:53:02,399
Speaker 2: good money every month. And it was a similar sort

1070
00:53:02,400 --> 00:53:04,440
Speaker 2: of thing where you go restock the film. You had

1071
00:53:04,440 --> 00:53:07,680
Speaker 2: to make sure that the machine was working properly. But

1072
00:53:08,280 --> 00:53:10,719
Speaker 2: because people are going there to buy an album or

1073
00:53:10,719 --> 00:53:12,640
Speaker 2: something they'd like sitting there with their loved one, they're

1074
00:53:12,640 --> 00:53:15,000
Speaker 2: seeking another and take some pics and guess what she

1075
00:53:15,040 --> 00:53:17,480
Speaker 2: made good money from. You know, a little effort on

1076
00:53:17,520 --> 00:53:19,800
Speaker 2: the front end, but not a whole lot of ongoing effort.

1077
00:53:19,840 --> 00:53:21,960
Speaker 1: All the customers are like, we're already doing the analog

1078
00:53:22,040 --> 00:53:24,880
Speaker 1: thing anyway as well take a film photo exactly.

1079
00:53:25,600 --> 00:53:27,040
Speaker 2: I mean I think that it really does fit with

1080
00:53:27,520 --> 00:53:29,560
Speaker 2: the medium, and so it's that kind of thing though,

1081
00:53:29,560 --> 00:53:31,920
Speaker 2: like thinking outside the box. I remember when she did that,

1082
00:53:31,960 --> 00:53:33,120
Speaker 2: and I was like, oh, it's a little risky. You

1083
00:53:33,160 --> 00:53:36,080
Speaker 2: can buy this machine that's coming from you know, a

1084
00:53:36,200 --> 00:53:39,479
Speaker 2: thousands of miles away across the ocean, and it worked

1085
00:53:39,480 --> 00:53:41,919
Speaker 2: out for And so I think similarly with what Mike's

1086
00:53:41,920 --> 00:53:43,960
Speaker 2: talking about is you have to be willing to take

1087
00:53:44,040 --> 00:53:47,239
Speaker 2: a little bit of a risk, but the reward can

1088
00:53:47,280 --> 00:53:50,160
Speaker 2: be meaningful and it can you know, add a lot

1089
00:53:50,160 --> 00:53:53,120
Speaker 2: of income to your life with some effort, but hopefully

1090
00:53:53,160 --> 00:53:56,560
Speaker 2: over time, less effort than what a traditional job would require,

1091
00:53:56,800 --> 00:53:58,680
Speaker 2: and you might be able to scale it into something bigger.

1092
00:53:58,719 --> 00:54:01,320
Speaker 2: So totally, I also love the fact that he didn't

1093
00:54:01,320 --> 00:54:04,120
Speaker 2: go all in on one thing. He's still diversified when

1094
00:54:04,160 --> 00:54:06,160
Speaker 2: it comes to real estate and investing in the market,

1095
00:54:06,600 --> 00:54:09,319
Speaker 2: pursuing you know, a day job, and then also this

1096
00:54:09,400 --> 00:54:11,279
Speaker 2: job on the side. I mean, I think that makes

1097
00:54:11,280 --> 00:54:13,480
Speaker 2: sense too, that you're not just like totally sold out

1098
00:54:13,520 --> 00:54:14,000
Speaker 2: to one thing.

1099
00:54:14,160 --> 00:54:16,520
Speaker 1: Totally. Yeah. Well, and I think one of the reasons,

1100
00:54:16,600 --> 00:54:20,080
Speaker 1: so my big takeaway is how I guess attainable or approachable.

1101
00:54:20,120 --> 00:54:22,880
Speaker 1: This might be because of how little money down it

1102
00:54:22,920 --> 00:54:25,759
Speaker 1: takes to get one of these machines. So he talked

1103
00:54:25,760 --> 00:54:28,280
Speaker 1: about that, which was like interesting because when you're talking

1104
00:54:28,320 --> 00:54:31,960
Speaker 1: about a six thousand dollars machine as opposed to a

1105
00:54:32,000 --> 00:54:35,560
Speaker 1: four hundred thousand dollars home, Yeah, you know, financing well,

1106
00:54:35,560 --> 00:54:38,480
Speaker 1: it plays a smaller role in the overall equation. But

1107
00:54:38,520 --> 00:54:40,879
Speaker 1: then just as he was talking through the consistent cash

1108
00:54:40,960 --> 00:54:43,760
Speaker 1: flow that they're able to generate off of these machines

1109
00:54:43,800 --> 00:54:46,960
Speaker 1: as well, it got me thinking, and I'm it's hard

1110
00:54:47,000 --> 00:54:49,360
Speaker 1: to turn your mind off once you start imagining yourself

1111
00:54:49,360 --> 00:54:52,080
Speaker 1: in that situation. I start thinking through locations and all that.

1112
00:54:52,160 --> 00:54:54,879
Speaker 1: But I think it's kind of fun, honestly it is. Yeah,

1113
00:54:54,920 --> 00:54:56,879
Speaker 1: I think this is a I don't know, hopefully folks

1114
00:54:56,920 --> 00:54:58,799
Speaker 1: found this to be a helpful conversation because a lot

1115
00:54:58,800 --> 00:55:02,640
Speaker 1: of times curiosities, Joel, they take us to things that

1116
00:55:02,680 --> 00:55:05,400
Speaker 1: we're more interested in. And maybe that's sabbaticals and thinking

1117
00:55:05,440 --> 00:55:08,279
Speaker 1: through like identity and some of these other things. But

1118
00:55:08,320 --> 00:55:09,920
Speaker 1: there's a lot of folks out there as well who

1119
00:55:09,920 --> 00:55:12,839
Speaker 1: are looking to generate some additional income, and I think

1120
00:55:12,840 --> 00:55:14,520
Speaker 1: this is totally a way for a lot of folks

1121
00:55:14,600 --> 00:55:15,400
Speaker 1: to consider doing that.

1122
00:55:15,480 --> 00:55:17,440
Speaker 2: Don't count me out on that either. I'm always up

1123
00:55:17,480 --> 00:55:19,120
Speaker 2: for like a creative waye to make some extra money.

1124
00:55:19,640 --> 00:55:22,120
Speaker 2: Find our how to money craft beer vending machine at

1125
00:55:22,120 --> 00:55:22,840
Speaker 2: a location near you.

1126
00:55:22,960 --> 00:55:25,799
Speaker 1: Send. Do they have that where you have to hold

1127
00:55:25,800 --> 00:55:28,480
Speaker 1: your id up first? Only the finest beers? Yes, I

1128
00:55:28,480 --> 00:55:29,880
Speaker 1: don't know. We didn't ask about that.

1129
00:55:29,960 --> 00:55:31,719
Speaker 2: Imagine how much you'd have to pay for one of

1130
00:55:31,760 --> 00:55:33,120
Speaker 2: the craft beers that wesel selling.

1131
00:55:33,760 --> 00:55:34,359
Speaker 1: It would be a lot.

1132
00:55:34,480 --> 00:55:37,520
Speaker 2: A cantillon would be like thirty eight dollars or something

1133
00:55:37,560 --> 00:55:37,799
Speaker 2: like that.

1134
00:55:37,840 --> 00:55:39,279
Speaker 1: But that would be your job, just flying around the

1135
00:55:39,320 --> 00:55:42,439
Speaker 1: world sourcing these amazing beers directly from the breweries. Sounds

1136
00:55:42,440 --> 00:55:44,200
Speaker 1: like fun to me. You're on first name basis with

1137
00:55:44,239 --> 00:55:46,600
Speaker 1: all the come on I'm in that kind of sounds

1138
00:55:46,600 --> 00:55:48,920
Speaker 1: like sounds like a dream. Joe, off to twist my arm.

1139
00:55:48,960 --> 00:55:51,759
Speaker 1: On that note, Let's get to the beer that you

1140
00:55:51,800 --> 00:55:53,520
Speaker 1: and I enjoyed it during this episode, which was a

1141
00:55:53,520 --> 00:55:58,080
Speaker 1: ghost prime by Parish out of Louisiana. But yeah, what

1142
00:55:58,080 --> 00:55:59,080
Speaker 1: were your thoughts on this one?

1143
00:55:59,120 --> 00:56:02,279
Speaker 2: This one would definitely be able to make it into

1144
00:56:02,320 --> 00:56:04,600
Speaker 2: the how of Money Vending Machine, the crafty vending machine.

1145
00:56:04,600 --> 00:56:07,120
Speaker 2: It was it was sweet, it was smooth.

1146
00:56:07,320 --> 00:56:09,319
Speaker 1: I was hoping for a little more bite from it.

1147
00:56:09,719 --> 00:56:11,680
Speaker 2: Just thinking, oh, I mean, this one was going to

1148
00:56:11,719 --> 00:56:15,000
Speaker 2: bring even more complexity because it's a really good beer,

1149
00:56:15,040 --> 00:56:16,759
Speaker 2: Like it's this an expensive ipa right.

1150
00:56:16,640 --> 00:56:17,080
Speaker 1: Here, Matt.

1151
00:56:17,440 --> 00:56:19,360
Speaker 2: But you know, while it lacked a little bit of

1152
00:56:19,360 --> 00:56:22,279
Speaker 2: that bite, it still had a ton of like like

1153
00:56:22,600 --> 00:56:25,080
Speaker 2: significant hop concentrate vibes going on.

1154
00:56:25,280 --> 00:56:28,480
Speaker 1: Yeah, to me, it almost had like it had this edge.

1155
00:56:28,560 --> 00:56:31,320
Speaker 1: So it's funny, like, yeah, I don't know if bite

1156
00:56:31,360 --> 00:56:34,200
Speaker 1: in your language means edge in my language, but it

1157
00:56:34,239 --> 00:56:37,400
Speaker 1: did have almost like this sort of juniper like pininess

1158
00:56:37,440 --> 00:56:41,320
Speaker 1: to it that I was able to decipher and wrangle

1159
00:56:41,400 --> 00:56:44,200
Speaker 1: to the forefront of my taste buds. Yeah, I guess.

1160
00:56:44,360 --> 00:56:46,759
Speaker 1: But yeah, super hazy to me. Drink a little bit

1161
00:56:46,840 --> 00:56:50,279
Speaker 1: drier as well, didn't It wasn't like overly, and it

1162
00:56:50,280 --> 00:56:52,279
Speaker 1: wasn't like sticky sweet or anything like that. And it's

1163
00:56:52,280 --> 00:56:55,160
Speaker 1: called Ghost Prime because I assumed this is just a

1164
00:56:55,200 --> 00:56:58,160
Speaker 1: doubled up version of Ghost in the Machine, or maybe

1165
00:56:58,200 --> 00:57:01,120
Speaker 1: it was based on that recipe. But regardless, I'm glad

1166
00:57:01,120 --> 00:57:02,520
Speaker 1: you and I got to enjoy this one during the

1167
00:57:02,560 --> 00:57:05,480
Speaker 1: episode today while we talked with mister Passive. We'll make

1168
00:57:05,520 --> 00:57:07,520
Speaker 1: sure to link to his community and where it is

1169
00:57:07,560 --> 00:57:10,879
Speaker 1: you can learn more about vending machines if you, after

1170
00:57:10,960 --> 00:57:14,239
Speaker 1: hearing this episode, are interested in perhaps becoming a vendingpreneur.

1171
00:57:14,880 --> 00:57:17,120
Speaker 1: All that's up on the website at howtomoney dot com.

1172
00:57:17,160 --> 00:57:19,080
Speaker 1: But buddy, that's going to be it. So until next time,

1173
00:57:19,200 --> 00:57:21,280
Speaker 1: best Friends Out, Best Friends Out,