A man from San Francisco managed to quit his lucrative job after accumulating millions through an unexpected side venture.
Paul Alex, who had been serving as a detective in the narcotics task force for the San Francisco Police, later transitioned to the special victims unit.
Despite the stress, Paul’s role provided him with an annual salary of $133,000, and with bonuses, his total income soared to $272,000.
Although financially stable, Paul found himself mentally exhausted.
His work hours ranged between 60 to 100 hours a week, limiting the time he could spend with his family.
“I didn’t have any personal freedom,” the former detective shared with Business Insider.
“I was neglecting my personal life. I wasn’t hanging around my family, who I love. I’m a big family guy. And at the end of the day, I realized, this can’t be life.”
Paul’s financial situation worsened when the police force suspended overtime pay.
This prompted him to explore investments in cash-flowing assets to secure his financial future, especially during months when his salary dipped.
Paul considered several options, including real estate, but he soon realized it wasn’t for him due to the associated debt and property management responsibilities.
A colleague suggested investing in ATM machines, and after conducting thorough research, Paul found the business to be relatively low risk.
After further investigation, Paul decided to pursue this side hustle in 2018.
He identified strategic locations for ATMs and invested in six machines, each costing less than $3,000, placing them around the San Francisco Bay Area.
According to Paul, a typical minimum return per machine is $200 a month from surcharges, with some of the best-placed machines generating between $250 and $500.
He relocated underperforming machines and sought mentorship through Facebook.
After relocating the machines, Paul’s monthly profit rose to $3,000.
Remarkably, he recouped his investment within just six months.
By 2020, Paul had expanded to 30 machines, and as his income grew, he left his police job in 2021.
He later partnered with an ATM provider and sold his machines, transitioning to a remote role.
Business Insider reviewed documents showing that Paul’s company, ATMTogether, achieved total sales of $12 million and a net profit of approximately $3.5 million.
Given his significant achievements, Paul encourages others to “invest in yourself.”