gr88products Posted August 22, 2009 Share Posted August 22, 2009 Hi Guys Ive been involved in vending for about three months now and for me it has been great fun. I was wondering what are your main reasons for being involved in vending, is it cash, being your own boss, more family time, etc. Just want to know other peoples reasons for getting involved. Link to comment Share on other sites More sharing options...
G-man422 Posted August 22, 2009 Share Posted August 22, 2009 For me it's a fun way to network with folks and earn a little extra spending $$ while in school. Link to comment Share on other sites More sharing options...
whaletail116 Posted August 22, 2009 Share Posted August 22, 2009 It's the start of my passive income flow. Link to comment Share on other sites More sharing options...
gr88products Posted August 22, 2009 Author Share Posted August 22, 2009 Whaletail116 - I wanted to create passive income too, that was my reason for giving it a try. so glad i did. G-man422 - Extra spending money - I cant get enough of that! especially how quick my girlfriend spends. If you dont mind me asking, what are you studying in school, Is that college? Link to comment Share on other sites More sharing options...
mxer518 Posted August 22, 2009 Share Posted August 22, 2009 I got started in vending while in college and it was a great source of passive income while in school, I had so much fun with the business while in school I decided after graduating I was going to make it my full time job. Link to comment Share on other sites More sharing options...
gr88products Posted August 22, 2009 Author Share Posted August 22, 2009 mxer518 - Thats a nice amount of machines you have - how long you been vending for? Link to comment Share on other sites More sharing options...
mxer518 Posted August 22, 2009 Share Posted August 22, 2009 since late 2006 but that was bulk only, I started full line machines around October of 2008. Link to comment Share on other sites More sharing options...
gr88products Posted August 22, 2009 Author Share Posted August 22, 2009 Wow thats good going for approximately three years. I take it this is your full time job now? Link to comment Share on other sites More sharing options...
Mettle Posted August 22, 2009 Share Posted August 22, 2009 I want a steady stream of passive income. I am always thinking of ways to generate passive income, and vending seems like a winner to me. Link to comment Share on other sites More sharing options...
mxer518 Posted August 22, 2009 Share Posted August 22, 2009 Well kind of, I need a bunch more to truly make it full time, I have some other vending things I am working on but cant say much for a little while yet. Once that gets all up and going it will defiantly be a full time job for me. Link to comment Share on other sites More sharing options...
mxer518 Posted August 22, 2009 Share Posted August 22, 2009 Vending has been a winner for me, I loved it since the beginning even through the rough times so I am really enjoying making it a full time business for me. Link to comment Share on other sites More sharing options...
T BIRD Posted August 22, 2009 Share Posted August 22, 2009 I got involved because I was tired of working in the addiction and mental health field. Its now a full time job for me. I started 21 months ago. I love bulk vending. Link to comment Share on other sites More sharing options...
dsimms Posted August 22, 2009 Share Posted August 22, 2009 I got involved because I was tired of working in the addiction and mental health field. Its now a full time job for me. I started 21 months ago. I love bulk vending. You sure have a lot of machines and locations...I bet you have candy in your house all the time I made .50 off my wife today..goes right for the PMM.... Link to comment Share on other sites More sharing options...
alyssamma Posted August 23, 2009 Share Posted August 23, 2009 I use it for a little side income, but really as a way to pull cash (legally) out of my main business w/o paying taxes. I do this primarily via mileage reimbursement. Also, I can funnel cash to other family members if needed. For example, give them $500 to locate for me instead of just giving them $500. Kevin Link to comment Share on other sites More sharing options...
G-man422 Posted August 23, 2009 Share Posted August 23, 2009 G-man422 - Extra spending money - I cant get enough of that! especially how quick my girlfriend spends. If you don't mind me asking, what are you studying in school, Is that college? I don't mind at all g88. I'm not sure if I would call it college but I'm trying to get edjumacated I'm currently in bartending school and am taking online classes to be a Sales Associate in Real Estate. Link to comment Share on other sites More sharing options...
dsimms Posted August 23, 2009 Share Posted August 23, 2009 I use it for a little side income, but really as a way to pull cash (legally) out of my main business w/o paying taxes. I do this primarily via mileage reimbursement. Also, I can funnel cash to other family members if needed. For example, give them $500 to locate for me instead of just giving them $500. Kevin Does that family location really work? my wife said she wanted a piece of the action, she walked in, walked out, and said, do not want to do this anymore...pay me $50... checks in the mail babe... Link to comment Share on other sites More sharing options...
mike777 Posted August 23, 2009 Share Posted August 23, 2009 I don't mind at all g88. I'm not sure if I would call it college but I'm trying to get edjumacated I'm currently in bartending school and am taking online classes to be a Sales Associate in Real Estate. I went through those Real Estate classes a couple years ago when I was working as a temp. I had planned to just use it for myself and family/friends. Then I got hired by the company I was temping at, and they wouldn't let me hold a RE license (I work at a bank). $1000 and 90 hrs of class time down the drain.. Link to comment Share on other sites More sharing options...
whaletail116 Posted August 23, 2009 Share Posted August 23, 2009 Why wouldn't they let you hold a Real Estate license? I love real estate and hopefully as my vending business grows, I can pump those profits into a new stream of passive income. I'm planning on attending law school once I graduate in two years and plan to focus on real estate law as well. Link to comment Share on other sites More sharing options...
mike777 Posted August 23, 2009 Share Posted August 23, 2009 I work at a bank that does mortgages so they see it as a possible conflict of interest. I tried to get an exception but it kept getting pushed off until the deadline passed. Maybe I'll do it again in a few years when I am at another job (or when I grow my vending business enough to 'retire'). Link to comment Share on other sites More sharing options...
whaletail116 Posted August 23, 2009 Share Posted August 23, 2009 Retirement - that sounds good to me. Also known as Time Freedom, when your monthly passive income exceeds your monthly expenses. But you don't need a license to invest in real estate. I see that you have 11 1800s waiting to be placed. Any luck with that so far? Link to comment Share on other sites More sharing options...
mike777 Posted August 23, 2009 Share Posted August 23, 2009 Retirement - that sounds good to me. Also known as Time Freedom, when your monthly passive income exceeds your monthly expenses. But you don't need a license to invest in real estate. I see that you have 11 1800s waiting to be placed. Any luck with that so far? I don't think I will ever fully retire (I'm 26 btw), but my goal is to be my own boss and do something I actually enjoy doing. You don't need a license to invest in real estate, but you do need a license to have direct access to the MLS with agent remarks. You can also get word of an investment property up for sale before it hits the market. I could also earn commission on my own purchases/sales. A few of my relatives are are also real estate agents/brokers and they seem to do pretty well. Honestly though, just taking the classes gave me a better understanding of the whole process, so when I bought my first condo, I felt a lot more comfortable with the whole process. The 11 1800s are waiting for me to get them out of the boxes I received them in and clean them up. I also need to get charity stickers for them. Then, I will be contacting a locator this week. Link to comment Share on other sites More sharing options...
whaletail116 Posted August 23, 2009 Share Posted August 23, 2009 Sounds like you're on track! Do you mind if I ask what it cost you to form your LLC? Link to comment Share on other sites More sharing options...
mike777 Posted August 23, 2009 Share Posted August 23, 2009 Sounds like you're on track! Do you mind if I ask what it cost you to form your LLC? It costs $170 in Minnesota ($160 plus $10 expedited filing fee). It looks like it only costs $50 in Iowa though. Link to comment Share on other sites More sharing options...
whaletail116 Posted August 23, 2009 Share Posted August 23, 2009 Really? That seems extremely cheap. Any idea who I should file through? Online, attorney, etc.? Link to comment Share on other sites More sharing options...
alyssamma Posted August 23, 2009 Share Posted August 23, 2009 Does that family location really work? Yes...but that isn't why I do it. Our family members aren't that well off. We used to just give them money. Now, we can still do it, but with before tax dollars, and get a little something for it. Kevin Link to comment Share on other sites More sharing options...
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