. I move daily and if not for some nagging injuries, try to get in intensive workouts 5 days a week. Theres so much. It was a lot to manage and with it came all the headaches that come with growth. (Where the hell have you been Josh?!? . Joshua Dorkin BiggerPockets Founder Maui, HI 28K FOLLOWERS 5 FOLLOWING 346K CONNECTIONS I am the Founder, former CEO (2004 - 2018), former podcast host, and current board member of BiggerPockets. Dan Daugherty: And you have that almost daily and you have to have that type of growth mindset. I realized that like, thats not healthy, you know, its healthy to be balanced, its healthy to spend time with downtime and so, you know, tried to create operating manuals around that, you know, eventually that became like, my Wednesdays, you know, in the year, call it year and a half leading to the exit, my Wednesdays, I didnt go into work. I learned to stop being a cadet and start being a general.', 'life is too short to be stuck in a job you hate. On Pivoting and Maintaining Control of Everything, Finding That Moment of Time Each Day to Live and Be Present, The Evolution of Business: From Bootstrap to Semi-Retired (Video), How to Support Your Favorite Charities (for Free) Every Time You Shop on Amazon, 50% change youre shopping there once a week, The Return . Adventurer. And so yeah, that becomes stressful. Is that true? It was time for me to step down, bring in partners, and move on from the day to day running BiggerPockets. So give me give me the motivation and Ill get out there and do it. Dan Daugherty: Yeah, theres no shortage of chaos in the startup world and those that cannot adapt to change will inevitably fail and close shop. On show 313 of the BiggerPockets Podcast, we interviewed Jesse Itzler and what most struck me was our conversation about how short and precious life really is. I mean, you know, would somebody have diagnosed me with clinical depression? This caused a shift in Joshua's reality, so. But I look at the cycle as a multi stage cycle. And I mean, even when Brandon was hired, it sounds like you were able to take a step back, look at a much bigger strategic view from a business perspective that accelerated growth. Today, BiggerPockets is the premier real estate investing website online with . . All you need to do is go to https://smile.amazon.com/ and youll have the option to select a non-profit of your choice to give to. And so we spent weeks going through the business, realize that we had, you know, created a product that was a little overly bloated, there was you know, wed built too much, too many features. And what advice would he share with other aspiring online entrepreneurs?\r\r We don't talk about real estate investing in today's episode. Will I get more wet if I stay still, walk or run, and why? Its fabulous. Every purchase comes with free bonus content: How to Invest in Real Estatewill catapult you 510 years ahead of where you are now. You know, these little things allowed me to continue to work, do my job and stay healthy at the exact same time. And that goes into to do lists. hb```b``"Y@9YY0sp(AnD$x}9QZuI>'vM`VyU'7>hAUf+-U]Y&-:+5+!Ab` 2:;4:J s `NzxSSgp80/ulk8 so9e1TX @6{c4# ] endstream endobj 96 0 obj <> endobj 97 0 obj <>>>/Rotate 0/Type/Page>> endobj 98 0 obj <>stream I mean, nights, weekends, you name it, seven days a week. You know, we cant ignore SEO, we cant ignore these things. Knowing it wouldnt be wise to drive, I called 911 and a full squad of firemen and paramedics came to visit. Yeah. Why do you write like youre running out of time?Write day and night like youre running out of time?Evry day you fight, like youre running out of time. I didnt have a co-founder, I didnt have any partners. And, you know, so I take those moments when they come to me and I try and take bold steps when they come. . After spending an amazing day with my girls, out of the blue one of my eyes went blurry. Where are you spending all of your money? This caused a shift in Joshua's reality, so he dropped everything. October 22, 2022 Almost a lifetime ago - 18 years today - I officially marked the founding of BiggerPockets Starting a hobby website while working as a full time teacher was one thing. . I was making money, but I was still ready, you know, that desperate to just get out. And, you know, I think theres a lot of people who are willing to. What's my secret? All rights reserved. Sign up today! Im 43 and I know Im not a kid anymore. . They checked my blood, my heart, my eyes, and did a CT with contrast of my head and neck to check my brain and blood vessels. After two years, I quit my teaching job, got married, moved to Colorado and began working full time on BiggerPockets. Dan Daugherty interviews Josh Dorkin who founded BiggerPockets in his living room with $12 bucks. 1675 Larimer St. I mean, I went up against tremendous opposition. Today, I think its a sign of necessity and strength, to be self-aware enough to know. And I had spent so long not taking vacations, not taking days off, I worked eight years without a single day off, which is incredibly stupid. Josh Dorkin and Brandon Turnerlongtime hosts of the worlds #1 real estate podcast, The BiggerPockets Podcastgive you an insiders look at the many different niches and strategies that exist. And lets dive in. You know, I didnt know if I needed to take an ambulance to the hospital. I created this site in 2004 to create a place where investors could learn, network, market and make deals in a safe online environment. These facts can either break you or teach you that you simply have no control of things beyond yourself. And really, quite frankly, I did not do a good job of understanding when Im depressed, or who to call, if Im depressed. Denver, Colorado, United States. This ultimately led to me having several panic attacks which really should have been a sign to step back. hbbd`b`ab`gb`\ '11d; Z endstream endobj startxref 0 %%EOF 101 0 obj <>stream And if you want to grow and thrive, you have to become seriously adept at it. As Founder and CEO of BiggerPockets, I created the vision and strategy for the business and bootstrapped the company until . 04 Mar 2023 02:14:54 We are all faced with challenges as we go through our lives and they can either break us or just be another thing we deal with. You know, dont keep doing things that keep you super stressed out. Today, BiggerPockets has grown to more than 870,000 members. Like dont keep doing things that make you miserable. And its interesting, you know, as you and a stressor might be, I come in every day, and I look at emails for three or four hours, and Im stuck in email. So, I looked at our total budget for the project, made some adjustments, grabbed some floor and wall tile for the newly conceptualized (on the fly in my head) shower and went on my way. They cleared me, but my very high blood pressure of 160/100 and other symptoms had them concerned, so they stayed to make sure it went down, and before leaving, strongly recommended I go to the hospital if after a little bit things didnt get better. Ive used that technique, and that has helped me dramatically. Came to be ready to quit and like told my wife, hey, Im ready to sell the business. It wasnt simple enough, and we, you know, we realized that I was doing everything, which I was, I was doing the job of, you know, 17 different people. And from a bootstrap perspective, you know, bootstrapping, you have a lot less support than you do when you raise money. I mean, the very first early years, you know, I had very little support outside of my wife, you know. I thought I was having a heart attack. And so, you know, its a serious decision to raise money or not to raise money. Just at the time when things were starting to go from big to bigger, Joshua had to take time off to take care of his daughter's medical emergency. In the early years, that was mostly strangers, as most of my friends thought I was nuts, but the coolest part is that today, many of those strangers are my closest friends.Finally, if youre dreaming about starting some crazy idea - whether it be a small business, a startup, a real estate investment, or anything else, I encourage you to take a chance.Life is too short to life without taking some risks.And no one wants to live a life full of regrets.Besides, youll never know if that hobby or idea can become a success if you never give it any real effort. BiggerPockets founder Joshua Dorkin and Brandon Turner from the BiggerPockets Real Estate Investing podcast. \"The business really wasn't making serious money for probably getting close to a decade.\"\r\r The story has a happy ending. Let me know what you think and please share this if you find it valuable! You know, thats, surprisingly a significant boost to your health. We've all felt scared about doing that big thing we've dreamed of doing. I was no longer happy as CEO of my own company. If Squarespace had an autosave function and you didnt lose almost an hour of work on a great blog post when your iPad shuts down. In my case, the two things most searched are my net worth and why I left BiggerPockets. JFIF ,, C So the operating manual was how do I go from unhappy to happy. That was all I was allowed to do on Wednesday. And so I think that mindset is exceptionally important. It is always interesting to see what kind of things come up when you search for yourself online. In the early 2000s, Dorkin bought rental property in St. Louis andafter adding up what he could charge for rent and subtracting his expected expensespredicted hed make a tidy profit. I got to be my own boss and although I worked absolutely crazy hours, I never felt the stress of a crappy boss or pressure to act under some artificial timeline. The two of them promised me that they would take care of the company in my absense and they certainly did that and I am of course, eternally grateful. Dan Daugherty: Yeah, I mean, lets start from the very beginning. I really enjoyed the conversation. But yeah, what else you got? What are you waiting for? Dan Daugherty: Thats right. FHA Guidelines: How to Qualify for a 3.5% Down Loan . Right? It was a very unpleasant experience, very scary again, you know, I was fairly uncertain I would get through it. (BTW - Ill certainly talk more about working on a business at another time). Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. While teaching, I began to build a directory of resources and a forum which were the roots of todays community and platform. And I had just swarms of competitors coming out of the woodwork trying to take me down and so there was threat everywhere, right, theres threat everywhere. You got to deal with them. What you may not know is Joshuas journey in founding, building, scaling, and finally leaving BiggerPockets. Here youll have a chance to follow me via this blog and to explore the ideas, products, services, books and many other things that influence me. Some people dont see that, its almost like when you get a new car, and then you start seeing other similar cars that are the same color that you never saw before. why not? A thought experiment My daughter posed the following question: It is raining outside at a constant rate. And inevitably, you know, I really struggled through those difficult times. unit you let me know well do it whenever. In 2006, Brandon Turner got married to Heather. My excitement for the company and brand never waned, but I really stopped loving going in to work, but didnt know it. And so you can freak out and flip out, or you can say, all right, you know, what, they made this tweak, what could we do better? Josh Dorkin's Blog BiggerPockets Turns 18 Years Old! I still get a lot of my great information from the community and the network. Life is short, you know, you dont know what can happen tomorrow. I LOVED the first few years of hiring and scaling. But just know that theres guys out there like me and Dan and, you know, countless other people whove tried it, whove been through it. What lessons did he learn along the way? |8{'t o`7p\2K`0rS%O|>. Z|\ ~kqCi\hPmskwJLP5|/(X.T Instead, Joshua and I focus on the harsh realities of growing an digital empire.\r\r Enjoy!\r\r \u0026nbsp;\r\r You can find more information in the show notes at http://podcast.affordanything.com/episode99 Touch device users, explore by touch or with swipe gestures. Thinker. So we went and we hired an investment bank, I mean, cutting a long story short, Im sure youre going to have a ton of questions and sorry for ranting, but we hired a bank, went through a process, and, you know, six, eight months later, I had an exit to a private equity company, still own a significant piece of the business. be helpful, you know, seek out advisors in your field and you know, work towards it. But instead of sitting in my office talking on the phone, every phone call that I had was a walking call. For those of you who don't know Josh, Josh is the founder of BiggerPockets.com. Lifes too short, man. I recommend it to everyone. 1065 episodes totalling 1002 hours, 17 minutes. Most people do what they can to help others out, and I wanted to share a little tip along those lines that I dont think a lot of people are familiar with. And you know, continue to love Bigger Pockets and love how its impacting peoples lives. This book provides a comprehensive overview of real estate investing strategies whether buy and hold to short-term rental and everything in between. But that's OK. And so what happened was little by little, I found myself running into some problems and I didnt quite know how to deal with those problems. A lot of people can at least. There were books, but like, you know, the books were pretty general, they didnt really say, what do you do when your tenant is stealing electricity from the building next door? That's why two of the biggest names in the real estate world teamed up to write the most comprehensive manual ever written on getting started in the lucrative business of real estate investing. And, you know, between Brandon and Scott Trench, who was my second in command at the business at the time, and my management team, you know, I tasked those guys and gals to run the business and I had to focus on my family. The podcast has almost 250 episodes and the blog features more than 8,100 articles.\r\r In today's episode, I have a heart-to-heart with BiggerPockets founder Joshua Dorkin about the blood, sweat and tears that's required to start a successful online business. Knowing I was in for a long visit to Home Depot yesterday, I made sure I had my list together and set out to pick up all the materials I needed to renovate our guest bathroom. You know, I felt like, something needed to change for me personally. Horrifying, scary. Where previously competitors were weary of one another, we helped people learn that coopetition was a better model - one where people could compete AND cooperate for mutual benefit. It was excruciatingly slow and frustrating, but we never let up. Choosing a selection results in a full page refresh. Im your host, Dan Daugherty and today I have a good friend, Josh Dorkin, who is the founder and former CEO of Bigger Pockets. I spent countless hours caring for her full time - feeding, moving, and working with her to accomplish tiny wins like the movement of a single finger or opening an eye. The content-rich chapters and corresponding stories of real estate investors give you guidance from the top real estate pros. We just wanted to find a place where we can go, where we could just normalize our lives, where my kids could, you know, get up and not be all stressed out where, you know, we knew that the government was doing a lot to mitigate the situation. It was a hard decision for Joshua to leave, but thanks to his amazing team, he was able to (even during a time of tribulation in his personal life). As I sat there trying to relax, things didnt improve and I knew I needed to go in. He was the longtime co-host of The BiggerPockets Podcast, and he's the author of seven books that have sold more than a million copies combined. You know, well be doing great getting, you know, x million views per month on, you know, through search, and all of a sudden, Google will make an algorithm change, and thatll drop 20% or 30%. Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin. And please share this article so more people can learn about this amazing program. Josh Dorkin and Brandon Turner longtime hosts of the world's #1 real estate podcast, The BiggerPockets Podcast - give you an insider's look at . . But Im not currently on it. And in that time, I realized that I wasnt as happy as I wanted to be running the business. . And so, for example, one of the core values of Bigger Pockets is family above all else. Where else can we dive into this? If you're not satisfied with your purchase, you can return your book for a full refund within 30 days. Whether its in business, you know, I want to be a better CEO, I want to learn how to become a CEO, so I went and read lots of books on it. And Im, you know, Im trying to figure out whats next, you know, looking at ideas. Rethinking my decision to leave Wordpress. You know, I couldnt breathe. Joshua Dorkin didnt have to go to Trump University to learn a difficult lesson about real estate investing. This caused a shift in Joshuas reality, so he dropped everything. Josh Dorkin and Brandon Turner - longtime hosts of the world's number-one real estate podcast, The BiggerPockets Podcast - give you an insider's look at the many different niches and strategies that exist. because I felt that I had to succeed, and because in reality, I was STUCK IN MY BUSINESS instead of working ON MY BUSINESS. Sarahbeth Maney is a Washington, D.C.-based photojournalist and a photography fellow for The New York Times. Many of you know how I worked almost 8 years without taking a single day off because of this mentality . All things Colorado delivered straight to your inbox. In my case, the two things most searched are my net worth and why I left BiggerPockets. No. But I, you know, theres so many books out there. So Ive got a book journal where Ive literally broken my life down into segments, physical fitness, health, I separate them, physical fitness and health, business and work, wife and love, my kids and you know, some people may put faith in there, whatever it is. How do we make a change, change the way we operate the business so that we, so that Googles algorithm changes become less of a significant impact on who we are and what we do? Host Joshua Dorkin is an entrepreneur, most notably the Founder & former CEO of BiggerPockets. And that had to stop too. . So, in 2004, Dorkin launched BiggerPockets, a website for real estate investors to ask and answer each others questionslike a Reddit for property owners. Dan Daugherty: You know, Ive got a lot of feedback from the listeners that said, Hey, big exits are great, but I noticed that a lot of the founders that you have interviewed have raised significant amount of money. Author. Like, I mean, you wouldnt know the difference between her and any other kid. Purchases from the BiggerPockets Bookstore can only ship within the United States. And come 2007, I went through this very difficult personal time, one of my kids had a medical trauma that led to some really scary stuff, a paralysis in a nine year old. I mean, I literally started this company with the, you know, like 12 bucks a month that it cost me to host and the whatever four or five bucks it cost to register the domain name back then, and that was it. We needed to get this done and time was not on our side. Find which one works best for you, your resources, and your goals. And everybodys at each others throats and stressed and tense. Josh Dorkin: Well, if you put it that way, it sounds pretty good. He later transitioned to building a team, starting with the BiggerPocket Podcasts very own host, Brandon Turner.This later snowballed into more hirings, with the BiggerPockets growing faster and faster, and being able to scale larger and larger. BiggerPockets has grown quite a lot since Ive left, and Ive enjoyed watching it take on a life of its own without me steering the ship. And particularly, I think the most stressful part was, I was by myself, to your point. Of course, it took many more months of work and ultimately several years for her to get back to 100%, but with time, energy, an amazing team, and unlimited love, she has since fully recovered from the incident. For two years I taught and in my free time I coded and built this budding hobby into something that trickled in tiny advertising checks. But yeah, I mean, there were down periods, dark periods. And so thinking about the things you go through, look, we all go through good stuff and we all go through bad stuff. Weve cut down on meat, and work hard to avoid the tempting desserts and snacks I used to be addicted to. Dan Daugherty: How long have you been in Hawaii with the family? Josh Dorkin: Man, so Ive started and stopped the book probably 50 times. We were all about trying to help people build wealth, learn how to build wealth through real estate investing. Like any 18 year old, it has continued to mature and to life a life of its own.While my personal contributions to the business are today marked by occasional phone calls and quarterly board meetings, I hope my personal stamp will continue to last for the next 18 years and beyond.Thank you to everyone who believed in me. And I ran across a blog, and they talked about they called it serendipitous mindset, where you leave your mind open and as you see these different things that happen to you serendipitously, whether its the people that you have met five years ago, just like how you and I met many, many years back. \\ + endstream endobj 99 0 obj <>stream Over the months and months that I spent caring for her, I had something I had never previously had in my adult life - time. Well, then you need to figure out a system how to stop being responsive to your email and be proactive, because youre not running your business, your email is running you, right? In this conversation. And I did it without freaking out or getting stressed because doing so doesnt help. The couple also has a son named Wilder. Just work, keep working, be dynamic, pivot and you know, a lot of luck out there. Sitting alone in my hospital bed, all I could think about was my girls, Julie, and the rest of my family . The Hobby that Turned into a Lifestyle Business When I founded the company I was teaching full time at a special ed high school in the Los Angeles area. I built at my own pace and designed a business with a mission and values that were important to me. As the message board gained a following, Dorkin quit his teaching job, moved to Denver (for quality of life reasons), and focused on the website full time. The book teaches readers how to limit spending while increasing income by using techniques like house hacking: buying a multifamily property, such as a duplex, and living in one unit while renting out the other(s). But, you know, I think the key was just persevering through those in order to come out at the end. Its fantastic. Unlike most traditional real estate books, this one wont tell you there is one secret path to real estate success. And I realized that I was unhappy. I always wanted to kind of be here, be oh, I used to call bi-coastal, would be like New York and Cali. Today I think its a sign of necessity and strength. Dan Daugherty: That is, as you know, I have two little ones of my own and that is, that changes everything, and Im glad that you priorities that over anything else. Dan Daugherty: Welcome to this episode of The Big exit. When I started Bigger Pockets it was, I was teaching special ed. . "Dorkin and Turner have really laid out a clear, straight-to-the-point guide to achieving success through real estate investing. 4.6 208 Ratings; $11.99; Listen $11.99; Listen . A few months back I had the blurry thing, but without the other stuff, and of course, went to visit Dr. Google. Shipping rates vary depending on location. Joshua Dorkin Oct 2016 Mar 2021. And in that time, I realized that I wasnt as happy as I wanted to be running the business, that I went to my wife, year eight of the company, and I was in tears. And anything thats stressing me out, you absolutely have to dissect it, and then figure out what the root cause is and that opens up everything else because then you figure out ways, again, Ill use the term operationalize it, is because then it allows you to leverage different tools, maybe you have to delegate more, maybe you dont have to respond within an hour of every single email that comes in, whatever it might be. I get to advise Scott and the current leadership team alongside some incredible partners. Colorado, working ridiculous hours in my basement, I ended up meeting you, of course, and just kept going and going for six more years, until I was ready to throw in the towel. His wife and three daughters wouldn't take too kindly to sharing their space. Plus, he doesnt own any rental properties outright anymore, simply because BiggerPockets requires too much of his attention. His wife and three daughters wouldnt take too kindly to sharing their space. Be there for your families. ). Dan Daugherty: And well, first off, Im so happy that your daughter is healthy now. And in order to do that, we were going to have to penny pinch at home because my wife was not working. And after about two years, I quit my job teaching and I went full time. And Ive given two examples of bad things Ive been through, Ive been through a lot, you know, some pretty bad things on top of that. And so we said, hey. As of February 2019, Amazon has raised $124,651,081.04 for charities through this program (Source Amazon). The company is one that I founded almost 18 years ago and left back in November 2018 after undertaking a recapitalization via McCarthy Capital, a private equity shop out of Omaha. Copyright 2019 Joshua Dorkin. All rights reserved. Save up to 80% versus print by going digital with VitalSource. Nearly 30 people work out of the companys RiNo office. And you know, the kids can go out and do physical stuff. You know, theres just the, I mean, its everywhere, right? You know, I was in an industry where there were entrenched interests that wanted me destroyed from the get go. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. You know, not only are you raising money from people who now, you know, you dont want to lose anyones money, but also just in terms of mindset, you know, that theres the freedom that you think youre going to have may not necessarily be there. You know what, Im going to get a fitness watch, and Im going to walk 10,000 steps a day. Originally from the Bay Area in California, she studied photojournalism at San . And I was helping other people get rich, and I was broke.\"\r\r Dorkin spent the next 8 years working mostly as a one-man operation as he tried to monetize a fledgling website.\r\r \"We were struggling and scrapping by on every AdSense check that we could collect,\" Dorkin says. He was wrong. We engaged an investment bank, initiated a process, and ultimately found ourselves at a successful deal with our aforementioned partners. Like, dont do, keep doing things that make you miserable. But COVID hit, and we got sick in March and it was, you know, it was tough and I was very, very, very sick. I got through it, thank goodness, and, again, it was another one of those moments for us where were like, you know, what are we doing? . Quotes "I believe 100% in putting all my eggs in one basket. On October 28, 2015, the couple released a book named "The Book on Managing Rental Properties." Children In May 2016, they welcomed a daughter, named Rosie. And not difficult. And Im excited to have you on board to really tell the story of how you went from zero to an exit without ever raising a single dime of outside capital. So I want the opposite. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. First, for those who arent sure how to do the math, in order to determine someones net worth, you need to take into consideration all assets and liabilities and put together a balance sheet.. You know, I want to learn how to be happy. While they sat in shocked silence, I wept for what seems like an hour as I tried to explain what we were dealing with - barely getting the words out mostly just crying out loud uncontrollably. Mr. Dorkin's vision for BiggerPockets helped to propel it into becoming one of the top real estate destinations online. The company, by the way, is the largest real estate investing media company and community out there. washburn rural basketball roster, accidentally stabbed myself with epipen,
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