New BP member from Los Angeles, CA

[Jimmy Ou]

Hello BP community!

My name is Jimmy, I'm 38 years old, and I've been inspired by listening to the BP podcast to join the site and learn about/look for new investment opportunities, build my network, and hopefully add any insight from my own REI experiences.

I’m born and raised in the greater Los Angeles area and have lived in West LA for 20 years now. I’ve been a full time Ph.D cancer research scientist at a biotech company for the past decade, part-time licensed real estate agent since 2015 (~$8M transaction volume), and part-time commercial actor. For my personal real estate investing background, I’ve owned 2 condos and 2 single family homes since 2009 and have been using the live-in flip model to roll each property into the next to cash out on the gains of the outrageous LA property values and maximize the primary residence tax exclusion incentives. What’s funny is that I didn’t know what I was doing for the past 8 years was called “live-in flips” until I learned the term from BP!

I’ve recently stepped away from my full-time job as a research scientist to focus full-time on real estate/investing/new business opportunities. Since I’m now at a point in life where the live-in flip model is too burdensome on the family, I’m looking for advice and to network with the BP community to find new investment opportunities and (hopefully) start building supplemental revenue streams.

I look forward to making new connections. Thanks in advance!

[Jimmy Ou]

@Dave Visaya @Bryan Pham @Jo-Ann Lapin Thanks all for the welcome!

@Logan Allec

@Logan Allec

1.  Previously balancing a 9-6 full time scientist job, working as a Realtor during nights/weekends/lunch, managing my rental properties, and raising a 3 year old toddler, that didn't leave much time for sleep.  Now that I don't have the 9-6 gig, I'm looking forward to this work/life balance that people seem to speak so highly of.

2. Of my $8M transaction volume over the past 2 years, a large chunk of that was as a principal on the seller/buyer side. Given the prices of West LA real estate where 2br 700sqft condos can easily run $700k+ and a 5000sqft dirt lot of a SFR is ~$1M+ without the house on it, it wasn't that hard to move that volume in relatively few transactions. Since it was a part time side hustle, I didn't do any marketing or networking at all and was extremely selective of the clients I took on which were primarily personal contacts.