How I Only Buy Video Cameras That 10x My Investment

I learned a valuable lesson almost 10 years when I bought the Canon C300.
Stop buying cameras based on YouTube videos and the spec sheet. Start buying cameras that you think can make you more money.

I broke my own rule two times. I bought a Blackmagic URSA when it came out. I lost money on that because I didn’t fit into my workflow.

And I bought a Blackmagic Cinema 6k and I haven’t made any money with that either.

Outside of those two, every camera I’ve bought has made me at least 10 times what it cost. So I wanted to share five lessons in this video that I learned when buying cameras.

Let me break down exactly how that works.

First, I made sure to also separate my gear from my labor when I’m creating estimates or invoices.

You should 100% of the time do this as a freelancer and even if you have a production company. This is exactly how I know what my return on investment is for every piece of gear.

For example, if I got hired as a freelance DP for a corporate job, my rate would be $1000. My FX9 camera package would be $550.

If you did the same, the only thing that should change should be your labor rate. The gear should be what the industry rate is. You can find that out from local rental houses around you that rent video gear.

Second, when it comes to buying gear, I only think about it from a business standpoint.
In my DP career, I made plenty of camera choices that were all from a creative standpoint. What is the best camera for the job?
But in those cases, I rented what I needed.
When it came to buying a camera, I also thought about the most versatile camera for the type of clients I have.

I knew the Red and Alexa cameras were for specialized jobs. They couldn’t do a lot of run-and-gun, corporate shoots.
So that became something I would rent.

Cameras like FS7, FX9, Sony A7S3, and Canon C300 were a lot more flexible for a variety of jobs. So I knew they would work more.

Third, I never bought a camera up on release. I waited a year or so. Then I looked around to see what the most dominant camera was in my market. When I was doing B cam, I would see what other DPs were using, so I can get on their job if I owned the same camera.

Fourth, I would do the math to see how many days it would take to pay off a piece of gear. In most cases, it would be in the 20-40 shoot range.
Sometimes, a big job would come up and I knew I would pay off 25% of the camera if I bought it vs renting. That’s essentially a 25% discount. So I would pull the trigger.

Fifth, taxes. Towards the end of the year, if I was in the top tax bracket, I would do the math. It wouldn’t be the only decision, but an important one. If a camera was in demand and I knew it would save me time and money the following year, I would do the math to see how much tax the write-off would save me.

If I’m going to pay 37% tax on that income and the camera makes sense to own, it was a really good reason to buy.

And one last thing. I only bought cameras when I thought the last one was obsolete. The transition from C300 to Sony FS7 is a good example. I knew I needed to shoot 4k.

I upgraded from FS7 to FX9, because I knew the full-frame, useable autofocus, and S-Cinetone would really level up my production and save me money in post.

Learn the exact blueprint I used to go from a struggling videographer, to running a profitable video production business, in this one-hour free training.

[IanConnel]

How many YouTubers are this candid and authentic? You are great. Thank you for helping me grow.

[muturikanini]

Your videos are very educational and inspirational..i have been binge feeding on them the last few hours...i love that every few sentences i learn something new. From Nairobi, Kenya

[raksh]

My most cost effective purchases were the Panasonic GH3 and GH4. Along with a handful of lenses, that kit paid for itself within a couple of months and continued to generate money for years and years. Now I've moved to the Panasonic S5 and am starting the process again. Image quality is way up and it gives my footage a look that is competitive with larger production companies. To maximize economy, I'm using vintage SLR lenses and a few Canon EF lenses leftover from the old days. At my current production tier, it simply isn't worth spending the money on a Komodo or C70. If a job which needs that kind of gear comes up, I'll rent it and build it into the budget.

Edited to add: many people in this industry love gear, and it can be so difficult to see past the desire for gear and focus on the financial return that the gear will bring. We can go on and on about how image quality will be better or whether something is Netflix certified, but at the end of the day, is the gear going to provide a substantial return on investment? How fast is the gear going to pay for itself and start making money? The more expensive the gear, the more it needs to provide good return if we are using it for work. There's no point shooting $500 online videos with a RED Dragon 6k if a sub-$2000 mirrorless will do a similar job. Hobbyists have different priorities, but if this is your job, it has to be a primary consideration.

[danielbranam]

Great advice. I've had cameras that have made tons of money for me and others that barely made any return. I agree you really must look at what the market is demanding rather than your personal dream camera. Love the content.

[MarioCastillion]

This video made me a subscriber!!! I haven't even watched the rest of your channel yet, but this video has such great truth to it, that I immediately agree and embrace your way of explaining thing!
My sincerest thanks, man.

[keith-knittel]

Buying tools that you can produce better or faster products with is a great way to think about things. It's so easy to get caught up in the latest cameras and justify purchases, only to find out it doesn't really fit your needs. Glad YouTube recommended me your channel!

[FlorianLand]

This makes so much sense! Two years ago I switched from line-item-pricing to value-based pricing where the client never even gets to see what gear etc. costs. But since then I havent kept track of that myself either, so if you asked me straight up to calculate if any of my gear pieces paid themselves off, I would certainly guess so, but for sure couldnt tell that in numbers 😄

[sambrandner]

You don’t hear people talking about this when talking about productions. Thanks for the insights. Added a new row on my production spreadsheet for how long each piece of gear should be usable. C-stands will last your lifetime +

[piusgyagenda]

This videos has great points to learn from for any person who is hoping to upgrade their gear

[ErikPelyukhno]

Huge helpful tips, thank you. I’m often craving the new gear and need a system to make a rational decision on whether o should purchase it or not.

[thisisfilmatic]

Great advice! I’ll put one up on how to do it with the higher end cameras. 🙏🏼🙏🏼

[ashhabashi]

Very sound advice. Always down-to-earth content I expect from you.

[louielondonmedia]

There is also the potential rental value for renting out your own gear to other film makers / production companies

[avdpost]

This was one reason I love Quick Books Project Feature, without projects I found it challenging to keep track of gear costs vs labour costs etc etc. Love having that database at the end of the day. In my camera buying experience, I have felt that most owner operators will likely land find the most return on their investment with cameras in that 10-15K investment level (depending on the package) IE the FX9, C300 MIII, previous generation was the FS7, etc. That camera level can be paid off in a year through rentals generally for an owner operator and fit well within many productions flows. I agree, picking a camera that also works within the production flows of production companies that are local to you. Sony is more popular, and maybe you prefer a blackmagic camera, but Sony will definitely be the better investment right now. I went Canon for my camera package personally, since I work with such a massive mix of companies and producers, it made more sense for me. But I think it's definitely something a lot of freelancers don't think enough about.

[JonackFilm]

Renting out gear and getting payd with it is a great idea. I like your channel very much. I am a Fulltime Freelancer from Germany :) some great content here. My Lumix S5 pays all my bills. I agree with a lot things you say :)

[SoundSpeeding]

Great advice! People do need to think a lot more about their ROI

[pankajphotography]

Namaste from India !
What is the difference using a good Dslr or a good Eng camera like fx9.
Apart from size difference in film results ?
I use Fuji Dslr as it is compact and can be used on Gimbal and is multi tasking. I mostly shoot factories business presentation and corporate interview with b-roll and events.
Pls share your opinions

[lightingvideotv]

Good advice as the business side of this industry is often overlooked and as you say the hype of the latest equipment specs can make people gloss over the financial practicality of purchasing equipment. Does a purchase of equipment benefit your businesses bottom line or does it only benefit the equipment manufacturers bottom line. Also some equipment is designed for the rental house market as the pricing of advanced equipment often makes no economic sense for an individual to purchase. Looking at the number of rental houses that exist you have to understand the manufacturer may not be targeting you as an individual to be their market. Also good that you included actual rental and labour cost examples in your video as references to give a perspective. Best camera review without being a spec oriented camera review, well done.

[joshdiditt]

Great video. One question. When a client says "You can use our gear, we have some Canon C100's " or whatever. What do we say in response when they try to save money like that?

[Nqrgaard]

How do you set your gear rental price when you own the equipment your self