You're a brand new investor and you know you need to get financing to buy your next investment

property. But there's so many options for loans and types of financing, which one should you start

with and what's the best one for you? That's the question I'm going to tackle in this episode of

Ask Coach and we're getting started right now.

Welcome to the Ask Coach edition of the podcast.

If we haven't met yet, I'm your host, Chad Carson.

You can also call me Coach.

My mission here is to help you get out of the financial grind so you can do more of what matters.

And the Ask Coach podcast series is all about answering your burning questions

related to real estate investing and personal finance. Today's question came in from Frank B

by email to podcast at coach carson.com, which, by the way, if you have a question that you want

to be considered for a future episode, be sure to send me an email there as well. The question is,

my question is about loans and different types of loans for a new real estate investor. I'm trying to start in the real estate business and I want to know if the banks will give loans to new investors and what types of loans. Do the properties need to have current tenants and do the banks look at that for the type of loan? I have a lot more questions, but I'll leave it at that for now. I really wanted to get into renting, but I feel frustrated about the market now and the loan process. I appreciate your time and videos. So thank you, Frank, for the question. And financing is, first of all, it is such a critical piece for everybody. And as a new investor, it really is overwhelming because there's so many different options. And what I'd like to do

in my response is to break it down and how I would coach you if we were talking one-on-one.

And I have a process. This is actually the same process I go through in my real estate deal school

course where I think this is kind of a logical sequence of things you need to focus on. And one of the

first things I focus on before we get to financing, even though it's really important, is what is your target strategy within real

estate investing? So what I found is if you figure out what strategy you're going to focus on,

the financing sort of takes care of itself or it becomes more clear and it'll help me

focus you down to a narrower set of financing options. The same with deal

finding, the same with building a team. So going back, the very first step is what's your

strategy? And as a new investor, I want to give you three different possibilities of how you

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