Director of Photography | 1 year Financial Review

[@nasgrace]

Powerful information regarding investing outside the film/production industry. Looking to do the same this year. Thank you Cranky!

[@kernzilla]

soo true! in my 20s, I was extremely "shoot or die" and was 1000% in media. while I can't say much of that passion has dissapeared, having some property has given us something else to focus on/be accountable for, and tbh have become much better with our time management - and it just tastes good having long-term plan that is relatively safe & doesn't suck our bandwidth. cant recc enough, just be smart with aquisitions.

[@JohnFalchetto]

Great point about older operators doing ENG packages. Just met a 70 year-old owner-operator last week, freelancing for CBS! He did admit he was retiring this year. It was interesting right next to him was a young MMJ for Fox MMR program. Talk about a contrast.

[@CrankyCameraman]

This is so accurate haha. I covered AG Merrick Garland visit to Uvlade last week. And this was exactly the mix of characters with cameras.

[@AndreCostaco]

Young DP from Austria here. Thanks for sharing the part of allocating business cash flow funds into traditional assets, also doing this now. I've to think 30 years ahead, ain't no way I will be running around on set like crazy when im 50.

[@davidmorefield]

Such valuable insight! I’d love to begin my real estate investment journey. I’m a bit far off from the down payment though. Maybe by end of year it’ll be more feasible.

[@Tommy_Beal]

i appreciate this breakdown and the candidness here. as someone who’s newer to the industry, thank you brother!

[@digitten]

A local DP is setting up a referral group for other regional video professionals, so I bought some lights to add to my grip and lighting rental kits. I may be picking up a rental property in west Texas, as well as constructing some RV pad sites in the same area to also add to my passive income. And I plan on doing some lite investing in stocks along with aggressively funding my retirement accounts. The only other big purchase I might consider later this year is a new camera kit, but I haven't decided on a Sony FX6 package or filling out my Canon line up for 3-camera interviews. Great info as always. Good luck and health in the new year.

[@robbiefilms]

Love these vlogs; keep them coming! And get those new f22 brackets!

[@CrankyCameraman]

Ordered.

[@rodrigolev1]

I am on the german market. So my reality its quite different from the U.S situation. I own 2x Camera package + Lots of Aputure Light and sound (not as fany as your sound package). I also do some editing for a website 3 day a week. Using the rest of my free time for booking freelance-work as D.P owner operator. After a back injury I have come to realised that my next investment should be real-estate.

[@Nicedesk]

Great commentary! I'm going on my 32nd year in the industry, started during college and went independent at 28 years old. Mostly sound but I've always shot on the side. Real estate is a solid way to structure your retirement. For the young ones: get the best mentors you can, even if you have to work for free. Your skill set is something you will use everyday until you retire. Some longstanding clients will keep using you even when you get old and slow down a little, because they like you and you can still execute. But longstanding clients may eventually go away so, as with any business, you need to anticipate downturns and take steps to mitigate.

[@brianmengini]

Awesome vid! In my final semester of journalism school and would def love to do some stand up/remote work. I’m also old (second career). lol

[@MfcoolProductions]

Thanks for the video!!! I truly appreciate the transparency in each video. I have a question. I’m a young DoP from Louisiana, and I’m looking to move to California to be in a bigger market. Do you have any tips for finding work in a new market?

[@CrankyCameraman]

You must have the can’t fail mentality. Consider the ones telling you it’s not possible as fuel to succeed. Accept work in G&E as there are more roles per shoot day and swing days of build and wrap. Become the best skilled crew in your hired role. Work had, minimize chatter, tell no one you really want to DP or Direct. Live in the valley as lower cost, lower crime and most of the crew trades live out there.

[@MfcoolProductions]

@@CrankyCameraman Thank you so much!!

[@EmileModesitt]

Killer info. The part about the sound guys investing their money better than the camera guys is hilarious (and a bit eye-opening)

[@CrankyCameraman]

All that free time sitting at their carts while camera and crew stress about lights.

[@EmreAran]

excellent, very informative, big thanks.

[@samuelmorrison5038]

As someone who is slowly trying to transition into videography, my big goals for this year is simply learning how to do acoustic sessions with local bands (I.e. mahogany house, pop house (Tulsa), etc..). So business goals is to learn audio engineering and hopefully by the end of the year have a dedicated “A” camera for the few projects I get to work on this year.

[@NathanShinholt]

As of last week, my whole FX9 package has paid itself off in kit fees, so I’m looking to get some betters lights, a new MacBook Pro, and a B-cam (probably FX3) and G-master primes. I’m turning 30 and my wife wants me to start an IRA which I know is also wise. But I’m in the “reinvest into gear” phase currently.

[@CrankyCameraman]

Excellent progress. The gear reinvest will never stop… I semi consistently split proceeds 50/50 retirement accounts and gear for about 15 years. Age 19-34 I did this. And through the power of compounding I stopped saving for retirement at 34. On track to be retired with an equal or greater income by age 59.5 (or before). Start today, compounding time in market is the way.

[@kernzilla]

not only love your normal vids, but really appreciate these YE recaps. great way to see mile-high overview of things. probably a good time to say thanks for the years of content & insights, seriosuly one of my fav channels on YT here. same boat as you re: non-camera income/investments. keeping up with a few properties as well, but we are considering converting some of our empty lots to glamping-type STR property. initial investment/overhead is low to prep sites; long-term maintainance not overly involved, and easy to throw a cabin or tiny house on it few years from now if we see the camp/rv aspect of it work out well/become popular. so far it's been a fun convo exploring different options, and like that it's something a little bit different. not 100% on the idea yet, but hoping to find viable way to make it happen. all the best in the new year sir!

[@NYCIndieFilmmakerSujewa]

great video. probably very helpful to other pro shooters.

[@benmcnights1763]

Thanks for sharing this valuable info David!

[@timothyariel]

I'm ten years in, mid-30s. Really great to hear your reflections about investing in real estate and elsewhere.

[@cucti4690]

I'm in my final year of high school now. Have set up a small business where I catch video work every now and then. I enjoy watching these vids for the realistic view I get of the industry. Cheers

[@CrankyCameraman]

Excellent. Best of luck as your graduate, I was on a very similar track senior year.

[@melaninxhalide1165]

Thank you for sharing this!

[@nicolastschirhart]

What is the tax benefit of buying real estate and how is it better then an IRA or other type of retirement account?

[@CrankyCameraman]

Passive losses and depreciation. I don't have to wait until age 59.5 to spend income penalty free. There are a few others, but those are the big ones. I don't want to work until I'm 59.

[@nicolastschirhart]

Ahhh I see thank you so much for the reply! Those are great reasons that I did not know real estate had. Have you run the numbers on this or just estimated?@@CrankyCameraman

[@temiodl]

Wow, inspiration!!

[@productionsoundtexas3949]

Land 5 Dream Clients/jobs Promote myself with Online Marketing Start simple Vlogs Pay off PayPal credit card Build up Business savings Invest in bonds/mutual funds Update Inventory Gear spreadsheet

[@danielbranam8503]

Thanks for sharing David. This year I'm looking at hopefully getting more booked dates as well as looking at purchasing a another rental property to add to the one we have. I am also looking for ways to increase passive income as I am getting along in age, this being my 31st year in production. Keep the great information coming.

[@occulus2615]

Really appreciate you doing these vlogs. There's so much unnecessary gatekeeping in the industry - love the honesty and candor!

[@moeskie]

Interesting video. Just found your channel in my KZbin recommended list. I'm currently a student studying to get a B.F.A. Film degree. I wanted to get a few jobs so that I could build a portfolio while I'm in school (I have all the equipment I need). Just curious, is it a good idea to start doing professional work on the side of studying for my degree? I do class projects but much of it won't go in a portfolio. It seems daunting to try and find work because I personally don't know how to find clients yet.

[@CrankyCameraman]

Shoot and create as much as possible. It’s about building a network of people that get along with you and can advance together. The portfolio is a low priority vs maximum work experience and contacts.

[@WesleyClouden]

100%

[@JoATTech]

Amazing video ... very useful. Although properties in my country stopped being reasonable. Return on investment is ~4% if you buy with cash. If you buy with credit you are under ...

[@CrankyCameraman]

My cash on equity return is 3-4% for free and clear properties. But the IRR and tax advantages make it worthwhile.

[@JoATTech]

@@CrankyCameraman Yeah, I've seen these on some investment channel. Unfortunately in my country government made property owners public enemy #1. So there are no tax benefits and actually this year they raised the tax you pay from renting. So this is "No country for old men" :D - btw this is Poland. I do not even have tax free quote here. My first earned $1 is taxed ...

[@CrankyCameraman]

@@JoATTech brutal. I was not aware. Thank you for sharing.

[@GlenGordonJr]

Appreciate this information.

[@MorrisLiveProductions]

Yep!

[@robinprobyn1971]

Interested your getting the Burano aka Burrito , would you rent that out ? what sort of shoots do you see yourself using it on ? thanks . Im on my 5th cameras now from betas 400AP to Fx9 now (and fx3) . Thought about the burrito but its over kill for my work , doc and mostly corp these days ,which is firmly in the fx9/6 , fx3 B cam for interviews or on a gimbal, market. . But a new fx9 or fx6 around $15k , with IBIS , would be very tempting and new gear syndrome would strike for sure.

[@CrankyCameraman]

Same work and clients, working as my primary camera for most projects.

[@memostothefuture]

have been doing the same as you, whenever I had enough for a downpayment I would use that to get a rental unit. been the best investment into my retirement so far.

[@georgeg6036]

Great information.

[@brianmengini]

Also can I ask which quick book plan you use? Looking to subscribe to it. Thanks!

[@CrankyCameraman]

I have two QBO accounts, about $65 mo, and 35 mo for my rental properties.

[@brianmengini]

@@CrankyCameraman thanks!!

[@jimmyzjam]

Great video! How do you advertise- your budget for it seems large?

[@CrankyCameraman]

I don't, it’s repeat business and referrals. Slow moving momentum from time in business.

[@JasonCohenphoto]

Great information and thanks for sharing. Curious what your ideal number of rentals would be? Personally I am in a similar stage, I'm 21 years into you a freelancer and we have been investing in real estate in the last 6 years. Currently we have three rentals and we are in our second live in flip which has been great as an education and also for the numbers as well. Ideally would like to have 8-10 so that by the time i am retirement age these can cash flow enough for our retirement. Currently also considering pretty heavily a Burano as my next purchase!

[@CrankyCameraman]

On the rental side, I went too big and scaling back now. Happy to share offline, please send me an email.

[@JasonCohenphoto]

@@CrankyCameraman Thanks and I sent you an email!