How did YOU afford your RED One?...

[Lee Dashiell]

If you're planning on getting a loan, using some sort of credit, or a lease purchase plan, the term should be set at 2 years for a full payback. I've used that as a rule for the last 10 or 15 years and it seems to make sense. I'm sure that there are exceptions but cameras should not only be paid for within 24 months, they should have earned their payment over that period as well. After that time period, you can prepare for the next purchase that helps you be profitable.

Speaking of profitable.....there's a huge difference in making money and being profitable. "Making money" allows you to pay your bills, pay for equipment and pay yourself, "being profitable" is doing all of the above and having money left over. It's a totally different game.

 

[Art Chong]

Encouraging and interesting thread! Thanks to everyone for posting their experiences and advice.

For me, I think of it like buying a truck and a lawnmower for a lawn care business. You've gotta have a plan to make enough money to pay your bills and enough left over for whatever else you had planned. Like any other business plan, you've gotta be able to develop a large enough cash flow to overtake your expenditures (which will now include the payment for the loan you took out for the equipment) along with any other investments for the future and that little thing called "profit".

Assuming it's a business for you at all. If you make enough money in your day job to treat this like a hobby/passion, making films that you love making and not trying to make a "profit" per se, then I guess this thread doesn't apply to you. Some people spend way more money on kitting up their race cars. Some spend it on high-end luxuries, boats, heck, even stills cameras and expensive lenses and whatever else you spend money on. Why not a high-end movie making camera too?

 

[Cüneyt Kaya]

i never buy things with borrowed money.
you never know the situation in 2 years.
i rent till i can afford.

 

[Detlev Eller]

Exactly that, yes. I'm interested to hear how other people in less-than-desirable financial situations managed to afford a RED One, as I've wanted one since they became available, and would like to how, realistically, if I could make that a reality.

Dave, here are some thoughts, that may help ... in short, i have found, acquiring equipment is about mindset.

... i have always raised the budget until it covers my gear and sold "production value" to the client ...

I do never have discussions about gear, but desired outcome.

I charge a lot (relative to standard rates).

I was never afraid to loose a gig. Actually i have always advised to go with a better supplier - if there was one ...

I worked for blue chip clients or ad agencies only - since they are used to move larger amounts of money and understand "result".

In summary: create a project, price it so it covers your "fetish", sell it to who wants it AND can afford it.