Hey Ihabkal,
I would go with most people's opinion of not doing it. 1500$ / min for six minutes, that's 9,000$. U'll need quite a few artists to help you out in such an endeavour.
Let's say you have 3 months to complete this and do some quick calculations.
3 artists beside you on the project, juniors maybe. I know for a fact that you can pay them between 800$ and 1000$ / month.
That's 3 x 1000$ = 3000$ / artist for the job, that's 3000$ x 3 = 9000$ for artists.
Add to that, your expenses. Do you have enough machines for your artists? Do you have a render farm or will you be renting one?
You'll be calling the client a lot of time (international calls). Electricity, All nighters, etc....
Already at this stage you've spent at least 3-4K$ out of your pocket.
Excuse my question, but how is this helping you pay your debts?
I know the market here, i've been doing this for over 10 years now (although we've branched out into VFX more now).
I used to take 100-200$ per view 10 years ago. Now i don't take anything for less than 4K$, not for a view, but 4K$ is what we need to start a project, at least for middle eastern clients because they're such time wasters. They drag you for weeks as if time was free. They have no concept of the value of time.
A simple rule to quote a project: How much is your day / hour worth?
Multiply it by number of hours/ days to complete the project and you've got yourself a number!
Sometimes you need to buffer that time a bit because you know it will drag, sometimes you can cut down a bit.
Of course if you have a team helping you, you need to value their time as well and add it.
There are still a lot of people in this region and especially in lebanon who are willing to pitch for peanuts in such projects with big hopes such as "at least we're opening a door for bigger projects, the next one will pay off". If you're charging 1,500$ / min on this one, there's no way you charge 15K$ on the next project. I mean you can but you won't get it.
Sorry for the long speech, but take it from a fellow compatriot, learn to say NO.
Cheers
