New Investor What's a deal?

[Donnell Durden]

Hello BP members!

I'm 30, in Online school for accounting, from New Haven CT. Score is about 640 and I have about 10K saved. I'm new to the site but feel so fortunate to come across all of this free information. I grew up different from many BP members(i assume). Both parents were felons, addicts, and very bad with money so the idea of creating wealth wasn't introduced to me until later in life, And even then it seemed impossible. I don't want to offend anyone but I see great parallels between RE and Drugs. buy low, sell high... buy and hold, flip.. middle manning (wholesaling), Consignment..etc.

I'm excited to get in the game, learn new things and make money. Most importantly I want to instill investing in my son early (he's 6) so by the time he's 18 he will know the game back and forth. There is a large demographic of people like me who may not have the knowledge to invest but they have the stomach for it. Many people with similar backgrounds as me have no idea that there are legal ways to secure wealth. I would like to show them the way. 

I want to start by flipping houses in hopes of making 20K+ each flip. I also want to purchase rental properties for passive income. my goal is to start with 4 units or better. I would like to begin by partnering with others who have cash to invest and flip until I have enough capital to invest in larger rental properties. 

My girlfriend eventually wants to open a middle school I would like to be the real estate behind it. I would also like to partner with my city to create low income housing that doesn't present as such. 

I'm willing to learn from anyone knowledgable and willing to teach.

MY NEWB QUESTION: Ive listened to a few podcast so far(200, 207, 208), I'm half way through the beginners guide read and I've done a ton of reading in the last year while improving my financial position (credit score, debt) and BP is the the first place where I am able to read 'Game' from all types of investors without all of the fluff I usually encounter. One thing I haven't been able to pin down is the 'Deal'. I hear or read "find a deal" "find a good deal" "make a good deal" "you make the money when you make the deal" Though I'm a newb but I believe I get the basics of finding a property thats pricesd below market..fix it up as fast as possible..put it back on the market or rent it out for a profit.  But being a newb I don't actually know what It looks like. Whats are the bright lights and sirens of a good deal? 

I would surely appreciate some examples of good deals(numbers included and how they are financed) in the niches I plan to be involved in. 

P.S. If this is in another post point me there, but please stop and say hey!