Yeah, typically you have to make at least $200k/year or have a net worth of $500k (the term is "accredited investor").
Thanks to a new law, though, you no longer have to be accredited to invest small amounts.
Thanks to a new law, though, you no longer have to be accredited to invest small amounts.
But the bottom line, I think, is that to do the strategy you suggest, you currently need to be an accredited investor if the startup is not already setup for crowdfunding.