Money money money

[jca83]

i'm thinking of taking out a loan or robbing a convenience store or something... mostly taking out a loan.

to buy some gear to get started with. any tips on that? good idea or bad idea?

anybody else do this? and what'd you buy?

[I'm Painting Again]

if you have the clientel to justify the loan it might work out..I think i remember you saying you are a student..im guessing you dont own a home or have some thing to take out a loan against..i think a bank will usually give you a loan against some sort of property..i could be wrong..i guess it depends on the size of the loan too..

[andrewfoshee]

what if you have a car ... can you take in your title and say "give me money and i'll just leave this here for awhile" ?? or how about nude pictures of ex girlfriends ?? those ought to be worth SOMETHING to those bastards in suits ... my advice - go get a job at guitar center or some huge music warehouse, buy everything you want at cost, then quit ... by the way, anyone want to lend me five g's?

AF

[stillafool]

Maybe if you're lucky, you'll go to prison up in Oregon. A few years back, they had an article in Electronic Musician about the studio of Bobby Beausoleil, a former manson family member. He had a bunch of ADAts, some decent mics and stuff, and a cell to put his studio in. Just don't go to prison in the deep south -- especially Louisiana, Texas, and places like that. Colorado's not bad -- the health care in prison's is better than your average non-felon gets. California prison's are generally pretty fucked up too. Good Luck!

[coniferouspine]

If you go to prison in the deep South, maybe Arhoolie records will come and record you remotely...might be worth looking into...

[Randy]

This is all about the music, right? Lately there have been some great threads about how ultimately, gear is NOT that important.

Don't go into debt. you can get by with one mic and a used 4-track.

If you save up for a few years to buy a condo or a house, the first tax return will give you a couple of thousand bucks to spend on gear. Then, when you get some equity after a couple of years you can take out a home equity loan to get some serious gear.

If you buy a bunch of stuff on credit cards, chances are you will never pay them off, and it will be a very long time till you can afford a home or something that is an investment.

Credit cards are a losing battle. Once you get a balance that you can't pay off in a month, it is set up so you won't be able to pay it off unless you win the lottery or a relative dies and gives you a wad of cash. In fact, that is the way I got mine paid off. I inherited my mom's car, sold it, and paid off the card. After that, I was able to save up enough for a 3% down payment on a little house in an inexpensive neighborhood. I am still amazed at how much I was paying each month on the credit cards. I did some math and figured out that I would still be in debt and renting and it has been 5 years. And of course, I would still rather be in debt than have my mother gone. You don't want to inherit anything. Believe me.

[thenumber]

gear bought with a loan = gear that isnt yours untill you pay it off. might as well just save up and buy it, and not deal with the risk/stress of a loan.

[chris harris]

gear lust = over!

loans for a student to buy gear that they will most likely not see much return on investment from is just bad.

some people have to take out loans for gear... but, many can justify it because their studio is in high demand and they will not pay a fortune in interest because they've got the business to allow them to pay off the debt in a timely manner.

people with gear lust, no assets and a line of credit, often make dumb decisions and end up with worthless gear.

the only thing worse than paying too much for gear, is paying too much, plus interest!

Most of the bad decisions that I've made regarding gear purchases, have been made because of available credit. I've never made a purchase that I've saved up for, that I went on to regret.

Work for it. The GC job/gear at cost idea sounds great. use what you have... if you have NOTHING, then you're probably even more likely to make bad decisions with your "budget plus interest".

debt blows.