Answer
Are you sure you should be angel investing? Do you already have 3 months minimum of savings, maxed out your 401k, Roth IRA contributions and are on track to $5M in assets by the time you turn 60 through low/medium risk portfolio strategies? If not, you should probably really consider what you want to get out of angel investing.
Personally, I make a small number of angel investments each year and I fully expect to lose all my money. I do this to learn about a new space, build a strategic relationship etc. Startups, as a pure investment without the side benefits, are a terrible asset class.
You’ll get better returns in the market in most cases (or hell, tax-free munis).
Do you have F-you money? Otherwise, steer clear.
Wow do a lot of angel investors have the same attitude about their investments?
Or, let’s talk! 🙂
I’d suggest joining one or more Angellist Syndicates. Get a feel for it, learn from your investment team and maybe start your own syndicate at some point.