The couple also has a son named Wilder. And so, back in 04 I was living in Los Angeles, I was teaching special ED high school. Quotes "I believe 100% in putting all my eggs in one basket. COVID you know, your kid gets sick. Let me know what you think and please share this if you find it valuable! It sounds like you said okay, what am I going to do next? 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? 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. I eat well - seriously cutting back on sugars, eating lots of fruits and vegetables. But that's OK. So we made the decision that we would start and hire one person who could lighten the load for me. I was no longer happy as CEO of my own company. Is it all the material stuff? . As always, I charged on despite my body and subconscious screaming as loud as possible to stop. Theres so much. As a father, this is what Im excited to see happen for my kids soon, and as an entrepreneur, I cant imagine being more proud than building something amazing that can live on beyond me like BiggerPockets has done. All that really matters is our families, our health, and our happiness. But time and life experience has taught me that doing so only makes my health, relationships, and happiness far worse. Its unlikely. Now I take it as it comes, pivot as needed, use a little logic and thinking to get me through the problems, and go about my day - using my energy and brain power for the things that really matter instead of suffering through perseverating about everything all the time. . So I read about happiness, right? Yesterday that reality came a little too close for comfort for me. I mean, nights, weekends, you name it, seven days a week. Start shopping! 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. We launched a book business. . +TYKqXLfsid| In my case, the two things most searched are my net worth and why I left BiggerPockets. Everything came back clear and they released me. Dan Daugherty: Yeah, I mean, lets start from the very beginning. 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. "Dorkin and Turner have really laid out a clear, straight-to-the-point guide to achieving success through real estate investing. You know, with. There were personality clashes, bad hires, and everything else you could imagine. I was happy to have three amazing children, food on the table, and a safe place to live. By the time I exited, we had over 40 full time employees, and around a dozen contractors - close to sixty people working for the business. But Ive broken kind of everything in my life down in these terms. Where am I good in each of these things? Sign up today! 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). |8{'t o`7p\2K`0rS%O|>. Z|\ ~kqCi\hPmskwJLP5|/(X.T Dorkin, 41, won't be hacking houses anytime soon. 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. Thank you for the stories and the insights and the tips. And in that time, I realized that I wasnt as happy as I wanted to be running the business. No, very few people do exactly what you just said and thats actually something that I do as well, I break it out. In all three cases, my wife was able to kind of talk me down and calm me and you know, but it was like, you know, stress, right, stress and I think we humans just internalize so. 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? And so as we were going through this situation with my daughter, little by little she was getting better. As you know, Im like a scrawny dude. But, you know, I didnt do a lot of that, you know, I didnt want to share my feelings necessarily in those early years, because I thought it was a sign of weakness. I was making money, but I was still ready, you know, that desperate to just get out. 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. because I felt that I had to succeed, and because in reality, I was STUCK IN MY BUSINESS instead of working ON MY BUSINESS. So, in 2004, Dorkin launched BiggerPockets, a website for real estate investors to ask and answer each others questionslike a Reddit for property owners. 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. And I think far too many people get caught up in that, well, you know, Im going to build a business to get to an exit. Nearly 30 people work out of the companys RiNo office. I didnt, you know, if there was emergencies, youd deal with it, but like, that was it, that was what that day was about. There are few things worse than seeing your child suffer and this period was easily the worst of my life. I was already working 40 hours a week at least on Bigger Pockets in those first two years. Joshua Dorkin is the founder and former CEO of BiggerPockets, launched on October 22, 2004. Josh Dorkin: Absolutely. 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 mean, we were able to do that in Colorado, but you know, youre on a trail youre, you know, running across people without masks, you know, its just the, you know, the whole debate, were not going to get into it, but either way, it you know, it presented an opportunity for us to find some kind of, to find some peace and to find a place where everybody just could feel good. But I wanted to be healthier. What's my secret? You know, dont keep doing things that keep you super stressed out. Is that true? . If thats the case, figure out what you need to do to change and the big challenge I think most people have is thats so big and tenuous, like, what do I do? Star Wars: The High Republic: Light of the Jedi. His wife and three daughters wouldnt take too kindly to sharing their space. 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. Denver, CO 80202. I had purchased a few rental properties and needed some help dealing with all the questions I had, but couldnt find a place where I could get answers without having to deal with solicitations and promotions of these self-proclaimed gurus who dominated the scene at the time. 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).Youll hear how Joshua was cranking out 100 hour weeks, working 7 straight days, for the first 6 years of BiggerPockets existence. Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice.. 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. And you know, continue to love Bigger Pockets and love how its impacting peoples lives. For returns, refunds, or the status of your order, you can contact. What you may not know is Joshuas journey in founding, building, scaling, and finally leaving BiggerPockets. You know, we were living pretty tight on what we were making, where we were, as you know, Denvers not inexpensive. We've all felt scared about doing that big thing we've dreamed of doing. I had a budget and time crunch, and was not going to be able to get what I needed on budget or in time. Choose a career that makes you excited to wake up in the morning, energized through the day, and content when you fall asleep at night.', and 'remember: provide value.' Your In-Depth Guide to the Best Golf Courses Around Denver, Six Bizarre Majors That Will Actually Get You A Job In Colorado, How Trumps Executive Orders Are Affecting Refugees In Lakewood, The Best Ski Run at (Almost) Every Mountain in Colorado, Advertising and Sponsorship Opportunities. But, fast forward to where we are today and shes fully physically functional. It was brutal. Dorkin failed to account for costly evictions, irresponsible tenants, inattentive property managers, and unforeseen repairs, such as mending a three-foot-wide hole cut through a kitchen floor. But you know, looking to make that a little more official. I built at my own pace and designed a business with a mission and values that were important to me. Just work, keep working, be dynamic, pivot and you know, a lot of luck out there. 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. 27 quotes from Joshua Dorkin: 'Today I get 100 times more done with 100 times less effort. Dan Daugherty interviews Josh Dorkin who founded BiggerPockets in his living room with $12 bucks. Horrifying, scary. Horrifyingly scary, where I was in my, in the office and I broke down and just I was in tears. 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. Ive used that technique, and that has helped me dramatically. Exclusive bonus content provided after checkout, 2021, BiggerPockets Bookstore Powered by Shopify, Only available in Ultimate Package and offsite, , Super Bowl 50 Champion and real estate investor, How to invest in real estate while working a full-time job, How to earn more at work (or on the side) so you can invest more, How to get your spouse on board with real estate investing, Eight unique property types you can invest in today, Eleven powerful strategies for building wealth through real estate, Twenty-eight tested methods for finding great real estate deals, Details on partnerships, BRRRR investing, and other creative ways to fund your deals. And that had to stop too. But, you know, I think the key was just persevering through those in order to come out at the end. 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. and what what happen if things went wrong. You know, I couldnt breathe. Like, I mean, you wouldnt know the difference between her and any other kid. What do I do? You know, I want to learn how to be happy. 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. \\ + endstream endobj 99 0 obj <>stream 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. We were thinking about picking it up and mailing it to you.\"\r\r At the time, Dorkin had just launched BiggerPockets, a then-nascent website about real estate investing. Thats a really weird thing to say, especially since I loved the company. 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. In my case, the two things most searched are my net worth and why I left BiggerPockets. I remember the exact phone call that I made to the two of them to tell them what was going on. ChatGPT disagrees (see image) What say you? Twitter View on Twitter. Josh is also host of the BiggerPockets Podcast (80 million . doesn't own much property. Well, what do you need to do to change it? Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. But I got to this point where Id just run myself ragged, really, you know, stupidly worked way, way, way, way too hard. A lot of people can at least. This caused a shift in Joshua's reality, so he dropped everything. Star Wars: Thrawn Trilogy 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. Dan Daugherty: And well, first off, Im so happy that your daughter is healthy now. Founder BiggerPockets. Weve replaced iced teas, sodas and juices with water in the last decade, and rarely, if ever will I drink alcohol. Second phase was when I took it serious, quit my job and really spent all my time on it. For me, I realized that if Im going to run this company, Ive got these kids that I love and my wife 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. Youre operationalizing your life and that has allowed you to kind of be more open. We have a guy named Josh Dorkin. Whether it is the struggle to communicate at checkout while you and the cashier are donning masks, or the untrusting looks from everyone around you, the entire experience is less pleasurable for all of us. And so I think that mindset is exceptionally important. So what I started doing, I was spending hours and hours on the phone every day, constantly and thats part of my job, right? Not a magic formula. Josh Dorkin: So it must have been 07 maybe that that we connected and you and I were talking about, you know, you were thinking about buying different companies, and we were just chatting about that, and that didnt go well for me. Post close, I joined the board of directors, but no longer was involved in the day to day decision making at the company. 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. But, you know, Ive written a book before with Brandon on real estate. I dont wish it on anyone to go through what we all went through, but it gave me the time to really think about life. So, you know, being willing and open to change and being dynamic, I think is one of the most important things. Sitting alone in my hospital bed, all I could think about was my girls, Julie, and the rest of my family . 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. Joshua Dorkin Oct 2016 Mar 2021. The Digital and eTextbook ISBNs for How to Invest in Real Estate are 9781947200050, 1947200054 and the print ISBNs are 9780997584707, 099758470X. Fast forward to yesterday, I had some of those symptoms. I really enjoyed the conversation. Is this going to be, is this the prelude to a book? While teaching, I began to build a directory of resources and a forum which were the roots of todays community and platform. And so that ultimately led to diversification of the business. Joshua Dorkin Dec 2015 Mar 2021. I recommend it to everyone. This ultimately led to me having several panic attacks which really should have been a sign to step back. I wasnt, however, happy with what I had spent my time doing. . Lifes too short, man. 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. We took power from those who made information inaccessable by opening the doors and making sure real estate investing knowledge was free.Over the years, the mission to democratize knowledge so anyone, anywhere, regardless of income, education, age, or any other demographic, could learn to build wealth, has resulted in countless lives being changed for the better.Not only have we helped individual investors around the country and work, but weve moved markets.Ive always wanted to calculate the actual economic impact of the business - Im sure the true number would blow everyones minds. So give me give me the motivation and Ill get out there and do it. But, you know, getting to exit, getting close to the finish line, so to speak is an absolutely incredible feeling and I wish it upon, you know, all the entrepreneurs out there. A thought experiment My daughter posed the following question: It is raining outside at a constant rate. 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. Welcome to the Big Exit, where we discuss startup acquisitions with the founders who lived it. Dan Daugherty: All right. I was, I went to college, you know, all these things, and bought property thousands of miles away, which would normally be a challenge, but I didnt really do my homework. 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. This was not like, something that everybodys like, Oh, this is going to be the greatest thing since sliced bread. 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. But, you know, if anybody who tries to grasp these things, theyre so big and scary, well then break it down into little steps. Touch device users, explore by touch or with swipe gestures. Dan Daugherty: Ah, I love that. I know far too many people who live the non-stop life and many, if not most, are unhappy. But then I, you know, just went balls to the wall, so to speak, and, you know, was doing 80 to 100 hours, trying to build this thing out. But instead of sitting in my office talking on the phone, every phone call that I had was a walking call. Thats 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. These facts can either break you or teach you that you simply have no control of things beyond yourself. What are the things that I need to do to be better within all these personal domains? Doing so otherwise would leave me a nervous wreck. Every purchase comes with free bonus content: How to Invest in Real Estatewill catapult you 510 years ahead of where you are now. It was a lot to manage and with it came all the headaches that come with growth. And please share this article so more people can learn about this amazing program. And the platform itself, your business, whatever it is, is not going to be able to blossom. So you know, whether its that or, hey, Im stressed about money, well, you know, you got to then go and break down your budget, and you got to figure out why youre stressed about money. That was all I was allowed to do on Wednesday. The list of accomplishments goes on and on, but with this growth came the need to hire, and that we did. But yeah, what else you got? 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. And, you know, so I take those moments when they come to me and I try and take bold steps when they come. Almost everyone that builds a business wants some kind of growth, but as much as I loved seeing my brainchild thrive and grow, I was having less and less fun doing it. . Ive always followed the same mantra - work hard, hustle, grind. And I had a lot of time and in that time realized that, you know, after 14 years of building this company, man I love, I love, love, love Bigger Pockets, but I was kind of burnt out. Wed launched the publishing business, I mean, you know, the company grew and grew, he will allowed me to think about the business from a holistic standpoint, strategic, and over time, we grew, we scaled, we hired dozens of people. Unlike most traditional real estate books, this one wont tell you there is one secret path to real estate success. 40.3K subscribers Thirteen years ago, Joshua Dorkin's friends teased him about starting a website that seemed to have no future. Overnighted packages might take a week or so if youre lucky, standard mail might take weeks, and trying to get a package from the mainland - well, hold on - that might be 2-3 months. You know, we cant ignore SEO, we cant ignore these things. You are also, obviously Bigger Pockets continues to grow, still the top everything, the community, the podcast. Thirteen years ago, Joshua Dorkin's friends teased him about starting a website that seemed to have no future.\r\r \"I would get calls from my buddies who would literally call me on my cell phone [and say] 'Hey Josh, we just walked past a penny on the ground. And, you know, Ive been investing, you know, since my exit, in different things, looking for, you know, startups to get involved with, looking for boards to become a part of, looking to advise, Ive been advising some small companies kind of off the books. Its, instead of drinking soda and orange juice, and, you know, coffees and energy drinks, Im just going to drink water, because water is healthy, water cleanses you, water does this, you know, thats not that big a step. But its fantastic. I mean, the very first early years, you know, I had very little support outside of my wife, you know. And particularly, I think the most stressful part was, I was by myself, to your point. But COVID hit, and we got sick in March and it was, you know, it was tough and I was very, very, very sick. Zf|Gy}dN1,2,qY\ s#sK~?>#W]CYq~Z6btV37 g)v3[# kG:_jJ/0Cr[-I\7{\t_LkL,K'4'Mm+"Pd60|q!?jO7S9h,P-WwS/. Explorer. Dan Daugherty: Welcome to this episode of The Big exit. I move daily and if not for some nagging injuries, try to get in intensive workouts 5 days a week. But I look at the cycle as a multi stage cycle. And so, you know, its a serious decision to raise money or not to raise money. You know, what are you doing and deal with that situation. I had never, I hadnt invested another penny in. 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. You know, like any entrepreneurial story, lots of ups, lots of downs. And, you know, I think theres a lot of people who are willing to. I want to, I listened to experts on it. You know, how do I make it so I could either scale this, get to an exit or just, you know, sell it and quit and be done and find something else. For those of you who don't know Josh, Josh is the founder of BiggerPockets.com. We came to Hawaii, weve been here since July. Of course, this was an extremely difficult transition for me, but I believe that several years later, I have become a highly valued board member that contributes immensely to the business and Im hopeful that I can find other opportunities to do the same for other companies. 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. Stop making excuses and focus on those things as your priority because in an instant it can all be over. One final question. Author. Like you cant find that and all that was out there were communities, forums, but they were all kind of tied to or in cahoots with I call them the gurus, the get rich quick crowd.
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