Spending money on this Sony problem vs life expenses

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  • Опубліковано 25 лис 2024

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  • @Stedmen
    @Stedmen 17 днів тому +12

    Focus on generating more money with low overhead. Owning a house can be beneficial, but it comes with risk, obviously. A house rarely gets people rich. It can set you for a big payday in the future, but you working and generating more income guarantees a better future financially. I wouldn’t worry about buying a house because it doesn’t necessarily boosts your quality of life right in this moment. Go on more trips and get massages. That will elevate your life tremendously.

    • @davidmorefield
      @davidmorefield  17 днів тому +3

      @@Stedmen Thats how I’m feeling. I’m in a unique position to actually save all my profit. It could be extremely beneficial if I did that for three years.

    • @kylepuckett6786
      @kylepuckett6786 8 днів тому

      I have to disagree here. While everyone's certainly entitled to their opinion, you can't argue with the numbers. Take my house for example - I bought it for $140K six years ago, and now it's worth $240K just because of the market. And I only put $3K down at closing.
      Truth is, buying almost always beats renting financially, as long as you're not dumb enough to buy a money pit. Pretty straightforward stuff.

    • @Stedmen
      @Stedmen 8 днів тому

      @@kylepuckett6786 you legitimately got lucky. Post 2020 the real estate market has been suffering from Greater Fool Theory. Objectively you know your house isn’t worth 100 grand more. But a fool will buy it from you. Most people become the fool unfortunately. Congratulations on timing the market perfectly. 😂😂

    • @davidmorefield
      @davidmorefield  8 днів тому

      @@kylepuckett6786 Those aren’t realistic numbers for today’s market, unfortunately.
      That’s great you were able to capitalize on the small window. You’re one of the few!

  • @VincentWortmann
    @VincentWortmann 17 днів тому +4

    Since you asked about our current place in the industry: I currently have two Jobs. I work Fulltime for Canon as an IT Support Operator and in my spare time i work as a Videographer. This year my goal was to focus more on my Videography Career since the Canon office where i work, has nothing to do with video at all. Only Printers and IT...
    The year started slow as always but i took the time to connect with other videographers and to get new customers. Since June i am in a very good spot. So good even that i could make the switch to full time. To put this into Numbers: From June to December this year i will earn 8k + after taxes with videography alone.
    BUT recently due to an absolutely absurd coincidence i got the chance to swicht to the Video world within Canon. So much so that starting January 1st i will be the offical Videographer for Canon Germany... This just blows my mind. After creating so many opportunities for me this year. I was blessed with this unique role within Canon. I still can't believe it.
    My biggest inspiration in the Video world were You David aswell as Jared Phelps and more recently Collin Jung (I hope i got all your names right) 😅

    • @fabianpehl
      @fabianpehl 16 днів тому +1

      Ja dann mal alles gute dir! Grüße aus NRW

    • @VincentWortmann
      @VincentWortmann 16 днів тому

      @@fabianpehl Hey, Grüße zurück aus Sachsen ;-)😉

    • @davidmorefield
      @davidmorefield  16 днів тому +2

      @@VincentWortmann What a cool story. I feel that how luck works. It’s my favorite saying, “Luck is when opportunity meets preparedness.”
      You are responsible for creating an environment to allow for good things to happen. That’s what happens when you put yourself out there and follow your passions. I’m sure Jared and Collin will be stoked to hear this.
      Please keep us updated with the new role.

    • @CollinJung
      @CollinJung 16 днів тому +1

      Hey man, i just wanted to say thank you so much for sharing some kind words - that sounds like an AMAZING opportunity to work with Canon and do some awesome things - I’d love to keep updated on how it goes for you and watch your process!!!

    • @VincentWortmann
      @VincentWortmann 16 днів тому +1

      @@CollinJung I will try to keep you updated. I might even start some Vlogs myself. Btw congrats on the fx6 you will love it.

  • @carloscmedia
    @carloscmedia День тому

    I had the same dilemma when deciding whether to fix or replace my Sony FX6. After comparing it with newer cameras, I realized it wasn’t worth compromising on key features the FX6 offers that others don’t. I need specific upgrades for me to consider switching. That C400 with the 24-100mm lens does look impressive, though. If it came with native V-mount I’d be sold!

  • @AlbertoMendoza
    @AlbertoMendoza 17 днів тому +1

    I’m also transitioning from an LLC to S-Corp. Btw I high recommend getting either an M3 or M4 chip MacBook Pro. Love these conversations!

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@AlbertoMendoza Absolutely, man. I think these convos help everyone be more aware.

  • @jonwaldman94
    @jonwaldman94 14 днів тому +1

    Sorry to hear about the Sony problems dude.
    I feel the same way about my kit - don't really need anything else. Just want to keep profiting off what I own

    • @davidmorefield
      @davidmorefield  13 днів тому +1

      @@jonwaldman94 It took a lot of spending and watching countless hours to get here haha
      Exactly, high profit is the focus now!

  • @jarreterasmus
    @jarreterasmus 17 днів тому +2

    This time of the year is normally a very busy one for me but very frustrating because clients usually take a while to pay or get back to me due to the upcoming holidays. Just last week a client asked if I don’t mind waiting until the new year for a payment when they open up again but we aren’t even in December yet….
    Especially where I live in South Africa, the hardest part of the job is getting clients to pay on time. They love the work I do for them and don’t have anything against paying my rates, there’s just no urgency to pay which stresses me out a bit.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@jarreterasmus Even if you implement a 50% deposit to start the project?

    • @jarreterasmus
      @jarreterasmus 17 днів тому

      @ yeah I do with new clients or one time clients but stopped with return work because it led to my clients taking longer to pay because ‘they’ve already paid some’ and ask me to be patient.
      But this is a very common issue with freelancers in my country, just unbelievably frustrating having a great month on the calendar but waiting and waiting for payments. The bills keep billing so I keep working because it’s hard to know when enough is enough which leads to burnout 🙃
      Love your POV on renting or owning a property. My wife and I just purchased our property with a sizeable deposit which makes our bond repayments similar to what we used to pay for rent which feels ALOT better than sending money OFF and instead we’re sending money TO our asset.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @ You might benefit from adding payment terms to your contract. Or initiate a contract at the beginning of the year. Implement a net 30 clause. Or maybe you say that new dates cannot be added until past project is paid.
      You are not asking for much. This is how professional vendors operate. Doesn’t matter if it’s videography or not.

  • @luker1ng
    @luker1ng 17 днів тому

    Awesome video David. Lots of awesome stuff packed in there. On slow months / rough patches I take that time to focus like you said to meet new creatives and to be creative myself and make passion projects / build out my company.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@luker1ng Aren’t you working on a film of sort right now?

  • @scottsmokerx
    @scottsmokerx 17 днів тому +1

    Glad to hear your business is doing well considering all of the unexpected expenses you’ve had the past few weeks. It’s nice to be able to handle unforeseen costs.
    Luckily I’ve had my best year so far, so I’m doing good at the moment. I had one single project that accounted for about 40% of my revenue for the year. I had exactly 0 jobs the first three months of the year, so I’m trying to fix that for the upcoming year.

    • @davidmorefield
      @davidmorefield  17 днів тому +2

      @@scottsmokerx Wow what an impactful project! Congrats man, that must have been satisfying.

    • @scottsmokerx
      @scottsmokerx 17 днів тому

      @ absolutely. knowing I had that project coming later in the year definitely helped me deal with that rough patch I had earlier in the year

    • @davidmorefield
      @davidmorefield  16 днів тому

      @ Please keep posting. I love seeing the gigs you get.

    • @scottsmokerx
      @scottsmokerx 16 днів тому

      @ thanks man I really appreciate that 🙏🏼 I have about 8-9 vlogs recorded, I’m just struggling to find time to edit them 😩 I’m finally freed up in December though!

    • @davidmorefield
      @davidmorefield  16 днів тому +1

      @ I always go with the easiest method possible. For me, that means recording and editing on my phone. Just like this video ^

  • @CJ-Adventures
    @CJ-Adventures 14 днів тому +1

    You are forgetting the Interest write off with owning as well as throwing away 1500 per month with no asset increase. But you are 100 percent on with maximum and no out of pocket for repairs.

    • @davidmorefield
      @davidmorefield  14 днів тому

      @@CJ-Adventures Pros and cons to each side. It’s interesting to hear everyone’s perspective.

  • @xjet
    @xjet 16 днів тому +3

    I try to keep my spend on camera gear as *low* as possible because everyone tells me it's 90 percent talent and just 10 percent gear. Unfortunately, what those who say this forget is that if you haven't spent enough on your gear you don't even get through the door on most jobs.

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@xjet Of course, a technician needs to have adequate tools. That is a given. But the barrier to entry is indeed getting lower and lower to the point that a skilled technician could handle THISE jobs with low price point gear.
      But to your point, higher level jobs require premium tools to be their standard. That’s just a concession when you are a freelancer vs owning your own production company.

  • @earnieboy54
    @earnieboy54 17 днів тому +1

    I’m a filmmaker who bought a house about 4 years ago, right before COVID hit. Next year it’ll be paid off but I was also in a unique situation. A lot of product videos I shot from home, those contracts actually paid a lot more than what I was used to, renting out gear, I just saved extra and paid additional on my mortgage thanks to my parents advice on ownership, and looking back? I was in an apartment for a year. Even in that year the rent rate was almost twice my mortgage and I can see the benefit of home ownership - especially with security and no longer worrying about other peoples accidents and issues (we had a small fire in another unit). A house is a big investment but thinking about being having wealth, assets, security and ownership before 28 is an amazing feeling. Just research and look into it more. But rent is a lot of money out the window

    • @ColeMeger
      @ColeMeger 17 днів тому

      You paid off an entire mortgage on a house in 5 years? Even if that’s true, why? Your money would have been far better off earning in the stock market than paying off a minimal interest rate covid loan

    • @earnieboy54
      @earnieboy54 17 днів тому +1

      @ for the very reason that the house being paid off means more freedom sooner. When I decided to get a house my parents told me only spend on essentials. I already had savings from freelancing since 9th grade. My father is a filmmaker so I’d learn from him and use his gear on shoots. By the time college came around I already had about 50k in savings. I also had scholarships so that helped me retain money. By the time I was ready to move on from the apartment after deciding a year before that I wanted a house my parents put me on a strict savings plan to 1) have a sizable down payment, and 2) going into getting a house, you have to show stability so my parents had me open an account and only deposit money into it. The house isn’t crazy expensive. It’s a single/detached home. 2 floors and basement for 185k in a nice quiet area. My down payment is what got me a lower mortgage rate but my parents said to pay at least 1.7x per month and 2x when I could. So I did. I didn’t want to have a 30 or 40 year bill over my head. It’s not uncommon tho. The guy that runs Mediocre Tutorials and Reviews essentially did the same thing and paid his house off in less than 8 years.

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@earnieboy54 Man I really wish we had that pricing in or around Orlando. A recent listing came on the market here. 250k for a 2/2. I thought that’s a decent deal, I’m excited to look more into it.
      I found out it was completely fire burned on the inside haha. It was $250k just for the land.
      But that’s awesome you put yourself in such a strong situation. That’s really cool, man. Thank you for sharing.

  • @c.s.christopher5801
    @c.s.christopher5801 17 днів тому +3

    Rent is money out the window. Mortgage (house ownership) is wealth-building. Only had a house for a short while and recently had my house evaluated anew. Turns out I already have an equity in the house of $150,000 (I have paid probably 1/10th of that in mortgage payments so it's mostly just from appreciation). I've never been good at saving up money. But now I'm building wealth from just "paying my bills". All the money I paid when I rented apartment........ gone. Or in landlord's bank account. But sure, if you can save up money without constantly being tempted to spend it on gear and whatnot...

    • @FK-we1dp
      @FK-we1dp 17 днів тому +1

      It’s true, but there is also a lot of money that goes out the window with owning. The massive amount of interest, the electricity bill, water bill, repairs, taxes. It really adds up.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@c.s.christopher5801 the difference in my situation is rent is 50% or less than housing costs.

    • @c.s.christopher5801
      @c.s.christopher5801 17 днів тому +1

      @ I don’t know if it’s different in the US. But I also paid electricity and water bills when I was renting. Interest is only 1.5% for me and I get a tax deduction on that. Sure there’s some upkeep but yea, it’s still the best way for me to build wealth as I end up spending it otherwise. Even putting aside $1,500 a month into savings, that would take me 8 years and 4 months to reach the same $150,000 that’s only taken a few years. And that’s assuming I could keep my hands off of it while watching it grow. But sure, house markets can crash too and whatnot. I just don’t like the idea of rent that just goes out the window. It’s also easier to borrow money when you have a big asset like a house as collateral (if you need to borrow).

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @ Your mortgage interest rate is 1.5?!?
      It’s 7% here.

    • @RandumbTech
      @RandumbTech 17 днів тому +2

      ⁠You are doing renters math. You are failing to see the opportunity cost between the two. Every year, you are spending $18k on rent - that’s an expense no different than groceries. When you buy a home, a portion of that payment goes toward the principal of your mortgage. Even if the value of your home remains flat yoy, you are still ahead by at least the $18k you would have lost to rent expense. Average homeowner has 40X greater net worth than average renter. Do the math and buy a house if you can - don’t listen to these uneducated people suggesting otherwise in the comments.

  • @TyTheCamGuy
    @TyTheCamGuy 17 днів тому +5

    please do not treat housing as an investment. treat it as shelter. debt free life is best.

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@TyTheCamGuy It feels amazing to be in this situation. I’m open to other means of investing.

    • @Samvisualarts
      @Samvisualarts 16 днів тому

      ​​Research bitcoin if you want to protect and preserve your wealth for future generations ​@@davidmorefield

  • @PF-Matt
    @PF-Matt 12 днів тому

    Wanted to shed more light on the battery issue that I didn't hear mentioned - I'd say it's 100% likely that Smallrig doesn't produce their own battery cells. Those are huge operations, and cell manufacturers in giant factories supply many different industries with component parts. Those lithium ion cells can be graded - A, B, C, and lower grade cells are massively cheaper. So to cut cost, budget v-mount manufacturers may (do) use lower-grade cells and wire and package it into the battery. Which, in turn, may lead to higher chances of issues than higher grade cells, mostly translates to more fade/less life cycle, I'm no expert but I think other functional issues are more likely as well

    • @davidmorefield
      @davidmorefield  11 днів тому

      @@PF-Matt Very interesting. Thank you for the info.

  • @PancakeLighting
    @PancakeLighting 16 днів тому

    Bro I am in similar boat to you that this is my first year filing as S-Corp for 2024 filing. There’s a fundamental mindset shift I needed to make. Personal finances, save as much as possible- Business finance, spend as much as possible. It’s crazy, but low overhead can be a PROBLEM when you start playing this tax game. If you don’t need gear, look at maxing out retirement contributuons before the end of the year, or come up with other creative ways to generate write-offs. Ask your tax preparer to generate a tax estimate. That will be something you have to pay for but that will give you an accurate idea. I got mine done and thank goodness I have two months to spend some smart money in my business so I don’t owe a mountain of cash in taxes.

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@PancakeLighting Yes, I want to look at retirement accounts from my own company. Thank you.

  • @bobsteinfinkel
    @bobsteinfinkel 17 днів тому

    B&H about to have end of year sales if you are gonna upgrade your MacBook keep an eye out for previous gen MacBook pros then. You can get really good deal on spec’d out MacBooks if it’s the same as last year.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@bobsteinfinkel Thats a good idea. Thanks for the tip.

  • @ideaplusagency
    @ideaplusagency 15 днів тому

    The interest you pay on your mortgage loan is tax deductible. Also, you don't have to buy a home. You can also purchase a condo, or purchase land and have a home (barndominium) built.

    • @davidmorefield
      @davidmorefield  15 днів тому

      @@ideaplusagency All interesting options.

  • @chrisfigley
    @chrisfigley 17 днів тому +2

    I would hold off for as long as possible on buying a home! Tons of headaches and not the investment you would want it to be!

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@chrisfigley That is my fear! And to be honest, it seems like that is the experience of many others.
      I am going to take advantage of my ability to save right now.
      I really appreciate you sharing!

    • @chrisfigley
      @chrisfigley 16 днів тому

      @ if I had it to do again that would be my preference for sure!

  • @MikeKangaroo-cj3gk
    @MikeKangaroo-cj3gk 17 днів тому

    Man you’ve had no luck, especially with those memory cards. You’re right, best to have a conversation with them and ask if they’ll refund the difference or you just return them and go again. Interested to know how it goes.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@MikeKangaroo-cj3gk It’s comical at this point.

  • @CLIFFLIX
    @CLIFFLIX 16 днів тому +3

    B&H will absolutely refund you the price difference. On your gear, will you stay with SDI? There are soooo many horror stories of SDI short circuits all over the place. On the FX6, "if" the SDI circuit is stuck on the same mainboard, "if" the SDI shorts and sparks, "maybe" it fries the mainboard too???

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@CLIFFLIX I will keep that the same. So if it happens again, I’ll learn my lesson for good.

  • @Burritosarebetterthantacos
    @Burritosarebetterthantacos 17 днів тому +1

    Buying a house was the worst decision I ever made. Has cost me an additional 50-100k over the past 8 years. I just paid my property tax this week and it was more than a new Fx6.I estimated because I have no idea how much but my advice is buy small, buy finished, and be happy with it the way it is. Also, make sure the Mac can actually edit your stuff...I bought a new M1 MacBook and Mini because of influencers and I still had to use proxies in Da Vinci.

    • @Itaketoomanypics
      @Itaketoomanypics 17 днів тому

      this "because of influencers" is why I am extra careful on buying anything

    • @xjet
      @xjet 16 днів тому

      @@Itaketoomanypics A regular M1 MacBook is no good... you *must* only get the one in the affiliate link! (signed: an influencer) 😛

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@xjet Haha yes that’s always the best one😅

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@Burritosarebetterthantacos Thank you for sharing man. A lot of people do not give an authentic summary of their experience. What state are you in if you don’t mind me asking?

  • @MindfulGrinds
    @MindfulGrinds 16 днів тому

    As soon as you add kids and marriage to the equation; life changes drastically. In 2020, I left a 6 figure government career to start my own company. COVID set me back quite a bit a bit. Now, working to make a freelance production company work. I went from doing webs, webs, webs, websites, media, and some graphics to focusing specifically on DP and editing work. I’m also in my mid-40s so that changes things a little bit. I admire your journey taking surf trips. Wood seem pretty dope especially now that winter is hitting Wisconsin again. Opportunities are quite a bit less when you live in a rural area as well so kind of like what you were saying about different markets and rates I’ll make an impact on earning potential. I will say for some of the creative folks out there that it is difficult being a multi-hyphenate. Doing video production is pretty soothing though but it definitely takes a lot of gear. Thanks for sharing your journey and also without saying I’m certainly has been helping you grow and expand as well.

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@MindfulGrinds I could see myself adding marriage but kids are not in the future. There are so many experiences I want to do alone or with my girlfriend. If it ends up with no kids, that’s ok with me. Super glad she has the same train of thought.
      Man, I would imagine rural video production in Wisconsin would be quite hard to find leads. There is another guy who just started posting on UA-cam. He is in Montana and I love seeing the type of work he does. Check him out youtube.com/@scottsmokerx?si=fOuukOjm437nFC6i

  • @bairstories
    @bairstories 16 днів тому +2

    Debt-free is FREEDOM.

  • @TradeshowThomas
    @TradeshowThomas 17 днів тому +2

    Having one client make up too much of the yearly revenue is a vulnerability no matter how great that client is imho. Having revenue coming from a healthy array of quality clients distributes risk.

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@TradeshowThomas I actually went through that in 2020. One client took up a majority of my income and of course, they stopped contracting me during Covid. I seem to have forgot that situation. Thank you for reminding me.

  • @MaartenFilmsBTS
    @MaartenFilmsBTS 12 днів тому

    I was exactly in your position at roughly your age. And now I wish I would have bought a house then. The thing to keep in mind is that mortgage is paying off the loan. In 30 years, the house is completely yours. Keep renting and you’re paying someone 1500,- x 12 = 18.000,- per year. Every year you keep doing that, you could have paid off that amount off your mortgage.

    • @davidmorefield
      @davidmorefield  11 днів тому

      @@MaartenFilmsBTS I agree. But it is about 50% of a mortgage cost and can exclude any and all insurances, property taxes, repairs, etc.
      I would be paying more than double and be financially liable for a market downturn if I needed to sell.
      Whichever place I am in next, I won’t be there for 30 years. So I’m almost wondering if it’s better to rent at a much more reduced monthly rate than a mortgage, save money and then enter the market in 3-10 years when it cools off. Not a concrete plan but it does sound a bit safer at the moment.

    • @Samvisualarts
      @Samvisualarts День тому

      Yup owning is always gonna be better than renting in the long term. Especially if you are renting out the home. Then it becomes an even larger asset. Basically pays for itself.

  • @georgeg6036
    @georgeg6036 17 днів тому +1

    David you are in an unique position. Buying a home is a pain in the ass and with interest rate now, it is best to wait for another year or so. The cost of repairs on a home come at the wrong time, every time. If you don't plan for that with at least 10K in savings you will be miserable.

    • @davidmorefield
      @davidmorefield  16 днів тому +1

      @@georgeg6036 Man that sounds like experience talking. I appreciate you sharing.

  • @Ultrarmx
    @Ultrarmx 17 днів тому

    I got hit with replacing my AC cost me 5K. Few months later. Got hit with electric panel needed to be replaced another 4K. Sometimes owning a home have it’s pros and cons.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@Ultrarmx that sucks man. Idk if I want that structure right now. My low rent has been a really nice situation.

  • @CedarSpringWolf
    @CedarSpringWolf 17 днів тому

    I rented for years to save money, pay off debts, travel and treat myself. It was great, but I was single. Now I have a family and getting into a house was our top priority.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@CedarSpringWolf That makes sense. I live with my girlfriend and we do the same: save, travel and treat ourselves. No kids for us. That is a massive element that will allow us financial flexibility. We could easily stay here for a few more years.

  • @ephemere82
    @ephemere82 17 днів тому

    i would have kept the same configuration that failed, you, reset the machine, stress it at home to figure out how to get the same problem. and add an external recorder, video assit or atomos. i would have changed the vmount batteries

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@ephemere82 An external recorder would be a smart redundancy. But ideally, my system is trying enough that I can just record internally.

  • @scottievee330
    @scottievee330 17 днів тому +1

    Home ownership. Never be bored again. I have a big house with a separate office built on the property. It's great. It sucks. Depends. I'm ready to cash out buy a smaller house and pay off everything. I'd have a nice home a no debt. But this was a 15 year process. Mortgage rates went up. If they go down I'll fix my house up and let it go. It's a beautiful home but I'm over it. A lot of work.

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@scottievee330 That is what I’m worried about. My residence takes up zero percent of my mental capacity. I don’t know if I want to shift my focus to repairs, preventions, furnishing… every hit of care that a house constantly needs. Rn I’m worry free.

    • @scottievee330
      @scottievee330 17 днів тому

      @@davidmorefield I get your point exactly. When I lived in NYC and paid rent and worked on Madison Ave as AD of an agency, my life was all about work. A ton less stress. I wanted kids. I got married moved to Texas built a big home. My kids are awesome. Life is great. My Yankee friends are really impressed with the life I have here. I wouldn't change it for anything. The single guy apartment life won't last forever for you I assume. It's life's journey. I'd say take the leap. My situation worked for me. I burned too many years in NYC because I had a rent controlled apartment. I did not wanna lose it. It was a mental jail. That is NO reason to stay somewhere. It took a while to understand that.

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @ Thank goodness it’s not like that for me. I live in a downtown 1/1 with my girlfriend. No kids in our plan. Rent is cheap. Landlord is nice. Central to my work and the airport. We love being able to walk everywhere. It’s literally a perfect situation. I don’t know why I’m trying to change it.

    • @scottievee330
      @scottievee330 17 днів тому

      @@davidmorefield So ya know. All good bud.

    • @davidmorefield
      @davidmorefield  16 днів тому +1

      @@scottievee330 Thank you for sharing man. I see a lot of people making that move to Texas. Even friends. Honestly, I’ve seen it work out for the people who want that environment and I love to see it. Right now, I’m in my city mode and it is nice bc I’m still so close to nature, the beach and the springs. I don’t think I’d want to live anywhere else.

  • @danabeldp
    @danabeldp 17 днів тому +1

    Curious if you have your business structured as an S Corp? I heard you mention that you are an employee of your company now and thats how I’m running mine as well.

    • @alex.mcintosh
      @alex.mcintosh 17 днів тому +1

      Yes, he said it’s an S Corp 10:12

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@danabeldp Yes, elected s-corp tax classification this year. Looking forward to see how much of a difference it made.

  • @alexfrankvideo
    @alexfrankvideo 16 днів тому

    Maybe you can use current profits to build something more consistent and then move to higher expenses after that?

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@alexfrankvideo What do you mean by ‘something more consistent’?

  • @ColeMeger
    @ColeMeger 17 днів тому +1

    1500 a month extra isn’t much to make up in our field. That’s 1-2 days of extra work per month to make the difference. Home ownership also gives you massive tax breaks against the interest and tax while gaining equity. My wife and I own 3 homes, 2 are rentals. Not only will that give us an extra million plus when we retire in 15 years, it brings us monthly income from renters and lowers our tax burden. If you want the lifestyle you’re talking about, while also owning a home, you just need to up your rates or get 1-2 extra gigs per month… not difficult or stressful at all in our field if you’re good and have a network

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@ColeMeger Yeah that’s completely true. But getting an extra day of work isn’t my deciding factor. It’s the effectiveness of that $1500. I could use it to invest in stocks, take vacations, save.
      I am more so wondering is a house the place I want to allocate that money.

    • @ColeMeger
      @ColeMeger 15 днів тому

      @ I feel you man, especially if you don’t know where you want to be long term. And especially in this market. For us, home ownership has been life changing though. It has allowed us to significantly lower our tax liability through rentals, while replacing my full time income with Airbnb rental income on only 20-30 hours of work per month. Which has allowed me to build a 6 figure content agency since then. Without the equity gain in the first house, we wouldn’t have been able to purchase the other two homes as rentals. Which will allow my wife and I to retire 10 years early, or have an incredibly healthy retirement fund when we go to sell if we decide to work until we’re 65. We also max out our Roth IRAs each month. You can have both!

    • @davidmorefield
      @davidmorefield  15 днів тому

      @@ColeMeger That sounds like a great structure. Congrats on the success!

  •  16 днів тому

    This year I am making less money than last year somehow on video production. However I made more than i ever earned in a year from working on my stock portfolio. I live very frugal and been saving for many years and its starting to pay off big time! I would recommend staying debt free and building up an investment portfolio. Hopefully you have enough money on the side that you can get that house easy when kids arrives. 😮

    • @davidmorefield
      @davidmorefield  16 днів тому

      No kids haha
      Yeah I’m thinking more investments too.
      Congrats on the stock footage success

    •  15 днів тому

      @ haha stock footage.. 😂📈

  • @aaronjonellhall1937
    @aaronjonellhall1937 16 днів тому

    A house has a ton of responsibility and involves a lot of time doing home repair as well. Really think about your time and $1500 a month where you live is a god send😊

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@aaronjonellhall1937 It really is. I’m super lucky. I love how hands-off I can be.

  • @anoophothi
    @anoophothi 17 днів тому

    It’s a lot of money BUT you’re very happy with what is deemed to be great camera, so, hopefully it’s worth it in years to come if you’re sticking with the FX6😎🤞🏽 (still watching)

    • @anoophothi
      @anoophothi 17 днів тому

      You definitely enjoy that retainer of yours and who knows, maybe getting a couple of more for the new year will work a treat for you?
      As for production company vs freelancing vs working in-house; I work in-house for the stability and nothing else and it’s helped massively with all the ongoing budget cutting and uncertainty here in London.
      But if I could make being self-employed work at the click of the finger instead of being en employee I would, not just for higher rewards but also because of different types of projects/productions I’d get to work on.

    • @anoophothi
      @anoophothi 17 днів тому

      Re sparring - don’t worry too much hard sparring but for now: focus on more feints, setting up low kicks, teeps (front kicks) and jabs;) Plus, circular motion defeats straights when rotating body with your hands up blocking/gaurding. Keep up the training, it’s takes years of consistency to get reasonably good😎💪🏽💪🏽

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@anoophothi Totally agree. Variety of work is one of the biggest advantages of self employed business.

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@anoophothi Im heading to Saturday sparring right now. So much stuff in my head!

    • @anoophothi
      @anoophothi 17 днів тому

      @ it can be like that and it’s ok. Just breathe and throw in bunches and move;)

  • @f0t0b0y
    @f0t0b0y 10 днів тому

    Wait? How long have you had that camera!?! No insurance coverage? That's sucks man.

    • @davidmorefield
      @davidmorefield  10 днів тому

      @@f0t0b0y 2 years

    • @f0t0b0y
      @f0t0b0y 9 днів тому

      @ you need to get inland marine insurance. If you ever have an issue like this with a camera again, just leave your camera in your car unlocked.. that’s a criminal to have to pay that much to get that camera working again.

    • @davidmorefield
      @davidmorefield  9 днів тому

      @ $2k is criminal?

  • @Ultrarmx
    @Ultrarmx 17 днів тому

    B&H charges restocking fee

  • @GeorgeGuillory
    @GeorgeGuillory 13 днів тому

    That's a lot of cash on this issue. It's unfortunate you aren't getting definitive information from Sony on that FX6 issue, but I hope your investments mean you don't encounter it again in the future! It already sounds like you have a plan for backup audio just in case.

    • @davidmorefield
      @davidmorefield  13 днів тому

      @@GeorgeGuillory That is what I’m hoping as well! Yes, internal recording on the DJI transmitters from now on.

  • @joewillistexas
    @joewillistexas 16 днів тому

    Call them and explain the price drop. Because you are within the 30-day return period, they will most likely refund the difference. The same thing happened to my wife on her MacBook. They refunded $300 for a recent price drop.

    • @timjenkins8943
      @timjenkins8943 16 днів тому +1

      B&H Photos is the best. I've been a customer for 25 years. They will definitely take care of you.

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@joewillistexas I sent an email. I should get a response when they reopen.

  • @Always_Curious_Joe
    @Always_Curious_Joe 3 дні тому

    Can someone please explain to me what issue he's referring to with his camera?
    (No I haven't listened to the whole video yet, but nothing makes sense 2 minutes in...)

    • @davidmorefield
      @davidmorefield  3 дні тому

      @@Always_Curious_Joe i had error code E95-125 on my FX6. I started talking about how it exactly happened in this video. ua-cam.com/video/zu-Jmy42Un4/v-deo.htmlsi=WmnjNRaBT8nKy_0C
      There are 6 videos in total that catalogue the progress and research of the problem. Lots of twists throughout.
      TLDR: I paid Sony a lot of money to fix it.

  • @MateoToro
    @MateoToro 17 днів тому +2

    do not have your gear insured? you couldve just paid a deductible rather than spending 1000s on repairs and replacement gears

    • @antonykeane5586
      @antonykeane5586 17 днів тому +1

      Possibly would’ve been considered standard wear and tear, so not sure it would be covered by insurance. Insurance companies can be tricky

    • @MateoToro
      @MateoToro 17 днів тому +1

      @@antonykeane5586 not if its a code that bricked the camera my insurance wouldve covered it and i couldve easily said i need a new battery plate as well

    • @antonykeane5586
      @antonykeane5586 17 днів тому +1

      @ I’m doubtful your insurance company would do that - from what I understand, he hasn’t been able to fully diagnose the problem… that’s why he bought new media as well, when I don’t think that was necessary. He would have to prove the adapter is faulty/inoperable/etc

    • @1ShotNas
      @1ShotNas 17 днів тому

      Agreed

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@MateoToro Thats the thing. Camera was not bricked. It threw an error once and never again. Operated like normal. I didn’t need to have it serviced but I wanted to.
      Also insurance wouldn’t have paid for the media and battery plate. Those would still be out of pocket. Not sure I want to have a claim on my history for this situation.

  • @AcastroAX
    @AcastroAX 17 днів тому

    M4 Pro Macbook Pro is killer!

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@AcastroAX Thats crazy they are on m4. Honestly I don’t need a machine that can crunch files. I just want the pro ports: MagSafe, hdmi and usbc. I could probably go the refurbished route again.

    • @AcastroAX
      @AcastroAX 17 днів тому

      @ M4 Pro will give you all those ports and another 7 years of usage without issues. Also it is like $2800 new with a 1 TB storage. Best deal laptop for creators

    • @davidmorefield
      @davidmorefield  17 днів тому

      @ wow. I need to check it out.

    • @AcastroAX
      @AcastroAX 17 днів тому

      @ it will be at least 10 times faster than your 2015

    • @davidmorefield
      @davidmorefield  17 днів тому

      @ These emails will load so fast haha

  • @StagnantMizu
    @StagnantMizu 17 днів тому

    Honestly dont by a home in America right now. its huge risk due to lowest build quality and insane loans with unpayable interests.

    • @StagnantMizu
      @StagnantMizu 17 днів тому

      reality is imo the interests you pay is more than rent on longterm loans, inflation is at all time high housemarket will probably collapse and a house in itself is a liability for it needs maintenance so your better of renting I think.

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@StagnantMizu Yes I was running numbers yesterday. A $250k loan would run about 450k in interest over 30 years.

  • @Shaiquille
    @Shaiquille 17 днів тому

    Question did you do the firmware update that they dropped not too long ago I know a lot of people who’s cameras started to Melfunction after that

    • @davidmorefield
      @davidmorefield  17 днів тому +1

      @@Shaiquille I haven’t updated firmware ever

  • @TheBlindingwhite
    @TheBlindingwhite 12 днів тому

    Summary: Keep shooting pictures/video for a local Taekwondo Dojang and some tournaments. Hopefully break out to other martial art schools in the area. Oh and my budget...making the most out of Goodwill online.

    • @davidmorefield
      @davidmorefield  12 днів тому +1

      @@TheBlindingwhite Thats a good idea! I made a short documentary on a specific fighter and that helped me gain awareness with the promotion and led to more work.

    • @TheBlindingwhite
      @TheBlindingwhite 12 днів тому

      I also started to run the video signage wall and will make student highlights. I've also suggested to use footage to help students with training.

  • @ButterViZion
    @ButterViZion 16 днів тому

    Retirement! Get on it ASAP

    • @davidmorefield
      @davidmorefield  16 днів тому

      I have my Roth going. I'm looking for additional investment platforms.

  • @Seanjokez
    @Seanjokez 15 днів тому

    Perks of having a wife is you can get that 3000 dollar house and split it 😅

  • @danielpalma9339
    @danielpalma9339 16 днів тому

    As a homeowner and looking at your situation, don’t buy right now. You don’t have kids on the way. Home prices are still very high so you won’t get equity. rent until you need more space/have a family

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@danielpalma9339 I agree with that. I’m not in a rush. Kids aren’t in the future either.

  • @aaronjonellhall1937
    @aaronjonellhall1937 16 днів тому +1

    I honestly would have just bought the R5C. I have both systems and I truly prefer my R5C over my FX6 7/10 times. Hell, a C400 would be better for you. If my FX6 goes down I’m definitely replacing it with a C400 or another R5C

    • @davidmorefield
      @davidmorefield  13 днів тому

      If you are split between ecosystems and already have an R5C, then a c400 purpose would make sense. Sounds like a solid product!

  • @hi.imgonner5813
    @hi.imgonner5813 16 днів тому

    at this point you could of bought a new camera good sir.

    • @davidmorefield
      @davidmorefield  16 днів тому +1

      Incorrect. The $2k repair is not equal to a $6k body.
      After buying a new camera, I would still need to buy media and a plate. I'm fixing the camera and switching out old accessories. No point in pairing a brand new camera or a repaired camera with accessories that gave me a problem.

    • @hi.imgonner5813
      @hi.imgonner5813 16 днів тому

      @@davidmorefield i gotcha. I missed the part of did you updated the body and then have issues ? i think in the first video you mentioned everyone going through the same thing at once. I tried to mention before the 5.0 update was removed for fx line for having issues, im referring to fx30 not sure on fx3. Im leaning towards it being a sony update thing. you've used that setup for a minute now. I look forward to seeing what you discover.

    • @davidmorefield
      @davidmorefield  15 днів тому

      @@hi.imgonner5813 I haven’t updated it in over a year and a half. I’m not sure what is the real cause.

  • @robbiefilms
    @robbiefilms 16 днів тому +2

    kondor blue just released a new v mount battery plate check it out

    • @davidmorefield
      @davidmorefield  16 днів тому

      @@robbiefilms Im not risking new electronics that haven’t been industry tested. Leaning more towards higher price point gear.

  • @SaintProductions1
    @SaintProductions1 8 днів тому

    Go back to Canon, C400 / C80 😂

    • @davidmorefield
      @davidmorefield  8 днів тому

      @@SaintProductions1 That would be a killer system but very expensive and canon already lost me as a customer.

  • @Cinovamedia
    @Cinovamedia 17 днів тому

    Buy crypto 😂😂😂 (Not Financial Advice)

    • @davidmorefield
      @davidmorefield  17 днів тому

      @@Cinovamedia Id love to hop on a call with you about that. I do t know anything about that world.

    • @Cinovamedia
      @Cinovamedia 14 днів тому

      @ let’s do it! Hit me up when you are free