Mitchell Sorkin (@mitchell

Mitchell Sorkin

10.2K posts

Mitchell Sorkin

@mitchell_sorkin

Bought 3 ATMs in '21 | Managing a portfolio of 900+ today (w/ investors) | Growing to $10M/yr. Previously @stackinfluence. Many x founder, 3x failure.

Los Angeles, CA

Joined June 2017

Pinned
Mitchell Sorkin
@mitchell_sorkin
Dec 23, 2022
16 months ago I left a VC backed "sexy startup" to build a basic, boring business. In year 1 we went from 3 ATMs to 100+, and did over $200k in revenue. In 2023 we will grow 3x and do north of $700k, 100s of thousands of transactions, millions in 20s dispensed. Story:
874K
Mitchell Sorkin
@mitchell_sorkin
Feb 28, 2024
The fact that Stripe processed 1 TRILLION dollars in payments and posted a profit of $100M is one of the most disturbing business facts I've heard in a while.
2.2M
Mitchell Sorkin
@mitchell_sorkin
Dec 27, 2023
My wife had a semi-serious allergic reaction in Hanoi last night. Went to hospital - they sent us to the ER. Monitored vitals for 4 hours. Ran a Cardiogram. Gave her an IV. Prescribed meds. Brought in a Rheumatologist. Total bill: $75 USD. 😳
236K
Mitchell Sorkin
@mitchell_sorkin
Feb 3, 2024
Yesterday I flew on a semi private airline and for the first time in my life, I truly understood the allure of private air travel. You walk in, they hand you a boarding pass and you chill in a lounge for 15 minutes before walking out on the tarmac. We also saw some actual PJs
00:00
1.2M
Mitchell Sorkin
@mitchell_sorkin
Apr 21, 2023
Last July we bought an ATM business for $30,000. A small acquisition, but likely the highest unlevered dollar for dollar return that we will ever make... (1/x)
303K
Mitchell Sorkin
@mitchell_sorkin
May 26, 2023
Last month we made another slam dunk acquisition of 37 ATMs in the middle of the country. $125,000 purchase price 40% down - 60% seller finance It will do over 100% cash on cash return. Story below...
436K
Mitchell Sorkin
@mitchell_sorkin
Jan 17, 2023
I hired a part time cold caller from the Philippines and this girl is absolutely killing it: - Fast learner - Great communicator - Always available - Charges $6.50/hr I think the sub $75k/yr sales labor market is in for a rude awakening over the next 3-5 years.
221K
Mitchell Sorkin
@mitchell_sorkin
Feb 21, 2023
I cold called a DUI law firm that spends $100k+/mo on billboards. Offered them Ads in liquor stores, where presumably you'll find lots of ppl w/ DUIs. Secretary just tells me right away they're not interested. I'm ok with getting rejected, but this person needs to be fired.
258K
Mitchell Sorkin
@mitchell_sorkin
Mar 9, 2024
We bought this location for ~$23k. Historically it would net $650-$700/mo. Pigeons would perch directly above it and do this to the machine on a weekly basis. We installed pigeon spikes above it and raised prices. Last month this location grossed north of $1800 and we netted
293K
Mitchell Sorkin
@mitchell_sorkin
Jan 14, 2023
Replying to @GuyDealership
Damn so no one wants to buy a car that's clearly worth like 28k for 60 anymore?
57K
Mitchell Sorkin
@mitchell_sorkin
Jan 8, 2024
Replying to @PicturesFoIder
What an incredible opening line in the article on this story:
52K
Mitchell Sorkin
@mitchell_sorkin
Sep 15, 2023
Replying to @natfalconi
Wait a second you may want to hire this person
129K
Mitchell Sorkin
@mitchell_sorkin
Apr 10, 2024
This is what my life has turned into. Does anyone else store contacts like this?
39K
Mitchell Sorkin
@mitchell_sorkin
Apr 2, 2024
~10 years ago, my girlfriend came to visit me in Montreal and I asked her to come hand out flyers on a college campus for a business I was trying to build. She stood by as we got rejected on the street hundreds of times. She also watched me invest a few hundred (felt like a
210K