You've undoubetdely heard Warren Buffet tout the benefits of investing in real estate right now; however, you are wondering, how do I find the right investment property?I hear it all the time, from clients looking to buy their first investment property — “I want to buy this specific home, because the “books” say it's a good investment.”Now, I don't want to discount the authors of said investment guides; hell, I'm authoring one in the works! However, finding the right property for you is not something that can be revealed in a “How to Invest” book. There are several variables that should be reviewed by a professional, relayed to you, and aligned with your finances/exit strategy/goals.Are you buying a piece of property to renovate and immediately re-sell (flip) or are you looking to buy a home to rent out and hold long term for rental income (rental)? Are you looking at buying with liquid cash, or do you prefer do utilize private financing? Furthermore, do you need/require/prefer conventional Bank financing?Private Financing vs. Traditional FinancingOne, of many, popular real estate concerns I encounter often revolves questions surrounding financing. Whether you're a retail buyer looking for your first home or a savvy investor seeking funds to leverage your next deal, financing plays a role in all non-cash closings.Knowing how and where to look for financing, then, becomes as integral a part of your home search as the home itself. Knowing the pro's and con's of each financing platform can help you make the best financial decision.I have aligned myself with multiple institutions and individuals that offer BOTH types of financing, so finding the option that best fits your needs has now become a passion of mine.Traditional Financing (Mortgage)Traditional financing is the most common form of financing, with regards to the purchase of real estate. This platform will, typically, provide you with a 30 year fixed rate mortgage somewhere in the range of 4-7%. This is a safe financing strategy and will require a credit score of 620 or higher; often 660 in some cases.Example: 5% down, 6% interest rate, 30 year term, close in 30-45 days, credit requirement.Private Financing (Equity Lending/Hard money)Private, or alternative, financing is another means of financing your first, or next, property. Although the terms tend to be a bit more dramatic to the first time buyer, they are quickly witnessed as supplemental to the investor seeking a fast approval and quick closing. Private financing will tend to be based more on the property and less on the buyer; whereas, with traditional financing, the buyer is much more integral to the loan's approval.Example: 20% down, 14% interest rate, 4 year term, close in 7 days, no credit requirement.Knowing what needs must be met for you to succeed with your initial investment is crucial to providing you with the best property for your new portfolio. You want your first investment to be successful, because, after all — you are in this to make money.