Long term investment opportunities can be many, especially when you first get into long term investing. In order to be successful, you need to be confident in investing, work with trustworthy people (with proven results), and learn about the different types of investing available to you. To do this, you need a check list to go through before putting any money into an investment opportunity.
Get the Facts
Before you can even start to consider a long term investment opportunity, you need to know the facts. Generally, long term investment opportunities will show up in the form of rental properties, start up businesses and stocks. Opportunities aren't limited to these, but they're pretty common.
Check out the details of the deal. How much are you investing? What the condition of the investment? What is everyone else contributing to the deal? When are you likely to start seeing a return on your investment? Is the investment solid? Are the people you're working with trustworthy?
Ask for Proof from Those Involved
Before you work with anyone, whether it be a realtor, lender, business partner or investment professional, you need to check them out to make sure you're investing smart. Ask questions about their experience, knowledge and results. Don't be afraid to ask to see tangible proof that they know what they're doing. If they're legit, they'll have no problem sharing their successes.
Work out the Details
Once you've decided on a long term investment you'd like to be a part of, make sure you get all the details down on paper. You need to know who's doing what, the expected return, the amount everyone is putting up and anything else that affects the investment in any way. Every one needs to sign it, and it's a good idea to get a notary involved.
Put Together the Investments
Once you're contracts have been set up and agreed to, it's time for everyone to pony up some cash. If you're privately investing, this is where you need to set up the initial payment. The best way to work with large amounts of money is to get a cashier's check from your bank. This helps you transition your cash into a safe method of payment and offers more protection than writing a personal check.
Work through Your Plan
The only way you're going to meet your long term goals and see a return on your investment over time is to follow your plan. If you're privately investing, you need to contribute the amount you've set on a regular basis. If you're in partnership with another investor, you need to both follow through with your actions as per the contract and arrangement.
Long term investment opportunities are a great way to protect your future, create wealth and live the lifestyle you want, but you need to invest smart for a long term opportunity to bring you results.