Here's a simple piece of advice to some of you out there seeking financing. Stop trying to stuff a $5 million film into a $300k budget! Yes, you may have talent and know how to cut costs and are owed favors, but still, I cannot tell you how many scripts I've read that justify a bigger budget, but the "producers" are saying they can do it for a tiny amount.
The biggest thing to learn is to pick a script that is appropriate to the budget you have. A talky talky type flick with limited to no action can easily be done for a smaller budget. Some scripts can easily be done for $200k. That's great. However, red flag scripts budgeted under $500k? Tons of cgi, tons of extras, car chases, stunts, lots of night exterior shooting, high end locations (high rises, mansions, etc), large cast, period pieces, 2 states or more travel, etc. If your script has 2 or more of these, then you may want to consider a bit bigger budget.
Be realistic. I've seen too many projects done at a low budget that should've been a bit higher that look like crap. I mean, really, really bad. Did they get their film made? Yes, that's a positive. But because it looks so bad, they may have destroyed their career. Cutting corners to save money is fine, but only to a certain extent. Once production value is compromised, that's where you stop. Remember, that project is how people will remember you by. Make it proud, not embarrassing.
"But what if I can only raise $250k?" That's great and wonderful. Good for you. Then find a script that can be shot for $250k. There's tons out there. But make sure the $$ you raise covers all of productions costs. That means, most importantly, do NOT, I repeat, DO NOT screw over your crew by paying "deferred". That's the biggest scam in Hollywood and everyone knows it. If you don't have the money to pay your crew, you don't have the money to make a film. Period (student films exempted of course). Some newbie crew members may be happy for the work experience & willing to work for free, but that's no reason to take advantage of them.
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Have a nice day...
