Financing an independent film can be an extremely rewarding experience, and one highly likely to place you at the center of dinner party conversation for years to come. But know this first: You will, more than likely, lose all of your investment. Second, skip making your first movie some poignant tale you’ve cooked up with your pals in Vegas; better to start with a professional story you can judge objectively.

There are three routes to seeing your name in the opening credits of what could be the next Juno or My Big Fat Greek Wedding: Buy an existing script, develop a screenplay yourself or offer completion financing to a production that’s already in the works. The first two give you a greater creative involvement, while the last minimizes risk a bit by letting you see the bulk of the project before you sign on. Offering financing to finish a project can also put you in a great position to negotiate terms that put you in the front of the line financially if the film ends up doing well. Regardless of which path you choose, you’ll need to know the basic models—and pit-falls—before you get started.

How much you’ll need to invest

If you are open to buying a screenplay, anyone in the film industry or peripherally associated with it will be your best bet (after all, seemingly half of Los Angeles has a script in the works). If you’re willing to bite off a big chunk and sift through a large number of screenplays, contact one of the major talent agencies, like William Morris Agency, Creative Artists Agency, United Talent Agency, Endeavor or the Gersh Agency. They’ve got tons of quality scripts and pet projects that don’t fit the studios’ needs. There can be some real gems in there, but remember there are likely good reasons studios have taken a pass on these leftovers.

The second option is to develop a screenplay yourself. Make no mistake, you’re not going to write it. You’re going to buy an option on a story you like, then hire a writer to bang out a few drafts. Again, an agency can help you manage the process and link you with an appropriate writer. Developing a script can be a long, costly and unsatisfying process, filled with an endless number of rewrites, so if you can find a finished script, so much the better.

Show filmmakers the money

Another path to seeing your name in the credits is completion financing. When a film is more-or-less in the can with the majority of scenes shot, producers may find themselves short on dollars to finish editing or to add effects and music. By stepping in when need is great, you can usually negotiate excellent financial terms for yourself, which can pay off big if the film is a hit. Going this route will also reduce your risk, because by waiting until shooting is complete, you will be seeing a more complete picture of what you’re getting into before you start signing checks.

The filming process of course, can be its own quagmire, with last minute casting changes or script rewrites delaying filming, and entering the film process at this stage has another downside. You’re likely not the only one to see the film, so good projects may have a line of suitors. Also, it’s very difficult to find that diamond in the rough that just needs $500,000 to become a polished gem. More likely it’s a lousy film that will stay a lousy film, albeit with a cool soundtrack, courtesy of you. If you want to try this route, contact the agencies and prowl the many film festivals, from Sundance to Newport to New York’s annual Tribeca Film Festival.