He tried to solve his problems by reading real estate how-to manuals, but they made no mention of the real-life issues landlords facelike what to do when someone cuts a three-foot hole in the kitchen floor. Thanks, Josh. 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. %PDF-1.6 % Lets do it. But I wanted to be healthier. They suspected some kind of migraine, and cleared me of all the really scary stuff. His wife and three daughters wouldnt take too kindly to sharing their space. And the platform itself, your business, whatever it is, is not going to be able to blossom. Weve climbed mountains, traveled, explored and journeyed, surfed, skied and have never stopped seeking out a full and rich life. I mean, nights, weekends, you name it, seven days a week. And for me in that period, you know, when I realized I wanted to be healthier for example, and by the way, I didnt have to lose weight. Dorkin, 41, wont be hacking houses anytime soon. 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. 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. Thanks. Today, I think its a sign of necessity and strength, to be self-aware enough to know. Joshua Dorkin is the founder and former CEO of BiggerPockets, launched on October 22, 2004. Ill argue that all of that stuff is bullshit. I kept this pace up for over 8 years . We engaged an investment bank, initiated a process, and ultimately found ourselves at a successful deal with our aforementioned partners. And if you want to grow and thrive, you have to become seriously adept at it. JFIF ,, C I want to, I listened to experts on it. How do I hire? 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. 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. Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin. Proud parenting moment: Tonight while eating dinner, my daughter started to sing Freewill by @rushtheband and followed it up with her rendition of The Trees. . 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 So, I thought there had to be a better way. Joshua Dorkin Public figure Father. http://biggerpockets.com/moneyshow42Real estate is a hot topic right now, and who better to talk about the subject than BiggerPockets founder Joshua Dorkin a. 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. You know, we cant ignore SEO, we cant ignore these things. And it can be significantly helpful, but I want to press upon anybody whos thinking about it to just recognize that its not something to take lightly. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it . My strategy was to first pick out the easy items like toilet, vanity, towel bars and hooks, followed by choosing flooring, and finally finding a pre-fab shower that we could just drop in. We build tools, our content, our social presence. So the operating manual was how do I go from unhappy to happy. Find which one works best for you, your resources, and your goals. 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. Yeah. And in that stage, I moved to. Yesterday that reality came a little too close for comfort for me. 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. I had a budget and time crunch, and was not going to be able to get what I needed on budget or in time. The site became so successful that in 2013, BiggerPockets, which had been a one-man show, began hiring employees to support a bevy of new products. Instead of getting my hands dirty building product or testing some new landing page or campaign, I was overssing someone else that was. The Digital and eTextbook ISBNs for How to Invest in Real Estate are 9781947200050, 1947200054 and the print ISBNs are 9780997584707, 099758470X. %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz 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. It was a lot to manage and with it came all the headaches that come with growth. Josh Dorkin: Well, if you put it that way, it sounds pretty good. All that really matters is our families, our health, and our happiness. 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 daughters medical emergency. If you're not satisfied with your purchase, you can return your book for a full refund within 30 days. I hope to share that journey with you all via this blog, and perhaps through other forms like video or a podcast. Its not money, its not success, but its something that matters even more: fulfillment and family.Be sure to give Joshua a follow on Twitter at @jrdorkinCheck the full show notes here: https://www.biggerpockets.com/show421 27 quotes from Joshua Dorkin: 'Today I get 100 times more done with 100 times less effort. Heres your host, Dan Daugherty. But you know, from a sheer depression, man in the year before my exit, in the year and a half before my exit I had, Id never had this before, but I had three like full on panic attacks. very much oversimplifying it. (Where the hell have you been Josh?!? Its unlikely. This keynote speech goes deep into what really matters most. q=q >s@U8F qNU +HrQ-&pp9Q#b5H8kz{04rs~PRdyC 14Z'= :O+OIQG{^[gFN28JR`9X, r cvhwc61@S*JL1M$d|H8v:Rp= sE) And that had to stop too. So I want the opposite. The company is one that I founded almost 18 years ago and left back in November 2018. And so once you start tackling them, its amazing how your load gets lighter and lighter and lighter. And Im. And, you know, were in a position where we have an opportunity to do something like this, like, do it. But Ive broken kind of everything in my life down in these terms. Josh is also host of the BiggerPockets Podcast (80 million . Start shopping! Twitter View on Twitter. Im on the board. 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. 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. I know far too many people who live the non-stop life and many, if not most, are unhappy. That was all I was allowed to do on Wednesday. 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. 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. 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. Is that true? But, fast forward to where we are today and shes fully physically functional. 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. JOSH DORKIN: But it gave me the time to really think about life. 1065 episodes totalling 1002 hours, 17 minutes. Brett Jurgens Talks About Building and Selling Notion to Comcast. . Just work, keep working, be dynamic, pivot and you know, a lot of luck out there. But he came in and was instrumental to advancing the business. So we made the decision that we would start and hire one person who could lighten the load for me. And you are in Hawaii now, right? You know, these little things allowed me to continue to work, do my job and stay healthy at the exact same time. You know, part of my job and one of the things that I pressed upon my staff was, you know, if youre not spending significant time every day learning, youre not going to grow, youre not going to get better, youre not going to be competitive with other people across your area of expertise. So there you go. 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. I had time to wonder, time to wander, and time to contemplate my life and my happiness. And what happens inevitably, and I think you and Ive seen this countless times, you know, you raise the money, and now you have bosses and those bosses are telling you how to run the business and now you dont get to run the business the way that you actually thought you were going to run the business, because you have bosses and youre not working for yourself anymore. So first phase, I call it like that hobby phase. . Stop making excuses and focus on those things as your priority because in an instant it can all be over. . Josh, thank you for coming on the show. I kind of just glazed over it and just put my head down into work, so I didnt feel depressed anymore. It became more than a website - it became a brand and an ideal. I think its one of the top hundred podcasts in the world, give or take. What you may not know is Joshua's journey in founding, building, scaling, and finally leaving BiggerPockets. I need to move more, cool. 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. Dont get me wrong - I used to stress about EVERYTHING. You know, I want to learn how to be happy. Over the months and months that I spent caring for her, I had something I had never previously had in my adult life - time. As always, I charged on despite my body and subconscious screaming as loud as possible to stop. And but yeah, thats what Ive been up to. What do I do? And I immediately thought of you, because youve bootstrapped Bigger Pockets from I remember your Washington Park house where we met to really a multi-million dollar organization. Dan Daugherty: Ah, I love that. Read it!Ryan Harris, Super Bowl 50 Champion and real estate investor. So that hire, I really believe the business went from hobby to kind of this you know, call it Mom and Pop, you know, sole operator business and then it became a company and very quickly I had to learn how to deal with employees, how to scale and spent the next number of years doing that with Brandon as kind of my copilot. C X" And so I, you know, on the side, nights and weekends, while teaching, for the first two years, just started building this platform. . something that I used to think gave me hustle street cred, but today I realize was just a formula for burnout. And in order to do that, we were going to have to penny pinch at home because my wife was not working. Dan Daugherty: All right. Ive used that technique, and that has helped me dramatically. And its made it so Im a hell of a lot happier. 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. Many of you may know him and he's someone who's going through a whole bunch of transitions in his life, both personally and professionally. 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. 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. 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. 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. As you know, Im like a scrawny dude. I immediately stepped back from the day to day at work and handed charge to my number two at the time, Scott Trench in coordination with Brandon. 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.. This tip will teach you how to be a philanthropist (for free) every time you shop on Amazon. I learned to stop being a cadet and start being a general.', 'life is too short to be stuck in a job you hate. I had never, I hadnt invested another penny in. And then I start knocking them out, hey, I got to get, you know, Ive been eating like crap, Im, you know, 20 pounds overweight, cool. A few months back I had the blurry thing, but without the other stuff, and of course, went to visit Dr. Google. Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. The list of accomplishments goes on and on, but with this growth came the need to hire, and that we did. 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. . After spending an amazing day with my girls, out of the blue one of my eyes went blurry. Yeah, yeah. And, you know, the issue I had with those, which led me to founding Bigger Pockets was I, you know, I didnt like the idea of getting caught up in this funnel where, you know, its like, hey, come to our free course, and the free course is just an ad for a free boot camp, you know, some kind of boot camp, which is an ad for a course, which is an ad for, you know, training, and, you know, by the time youre done, and you look up, youve just spent $50, $75,000, to train with some, you know, self-anointed guru and, you know, youve got nothing to show for it a lot, you know, high failure rates and things like that. COVID you know, your kid gets sick. But Joshua Dorkin is creating an online empire. Welcome to the Big Exit, where we discuss startup acquisitions with the founders who lived it. I built at my own pace and designed a business with a mission and values that were important to me. k cG-t} 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. What regrets does he hold? You are also, obviously Bigger Pockets continues to grow, still the top everything, the community, the podcast. Where else can we dive into this? You know, thats, surprisingly a significant boost to your health. I recommend it to everyone. You know, I was in an industry where there were entrenched interests that wanted me destroyed from the get go. Dan Daugherty: Thats right. 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. It was time for me to step down, bring in partners, and move on from the day to day running BiggerPockets. Josh Dorkin: Absolutely. Just Released: Two NEW BiggerPockets Books to Help You Build Wealth Through Rental Investing . Shopping these days is just a little less fun. 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). I easily felt better. 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. |8{'t o`7p\2K`0rS%O|>. Z|\ ~kqCi\hPmskwJLP5|/(X.T Fast forward to yesterday, I had some of those symptoms. . It was a blast, but by year 12, 13, 14 my job changed. Six years later and a full eight years after I founded the company, I hired my first full-time employee, Brandon Turner, who helped me create our podcast and was crucial in the next stage of growth of the business from lifestyle business to full fledged company. What you may not know is Joshuas journey in founding, building, scaling, and finally leaving BiggerPockets. 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. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 1,000 rental units under his belt. Bye. No, very few people do exactly what you just said and thats actually something that I do as well, I break it out. A life-long adventurer, Brandon (along with his wife and daughter) splits his time between his home in Hawaii and various other destinations around the globe. They have grown to be one of the largest and most reputable real estate community on the Internet with a forum that has over 900,000 posts! Joshua Dorkin didnt have to go to Trump University to learn a difficult lesson about real estate investing. 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. For returns, refunds, or the status of your order, you can contact. 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 . 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? } !1AQa"q2#BR$3br After two years, I quit my teaching job, got married, moved to Colorado and began working full time on BiggerPockets. And I guess, you know, if you dont mind me throwing this in there, you know, if you raised money, or if you bootstrap, you know, its fighting for exit is, I think, one way to run a business, I think the other way to run a business is fighting to create an amazing business. 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 did you, were you ever really depressed at all? Dan Daugherty: Well said. But time and life experience has taught me that doing so only makes my health, relationships, and happiness far worse. I was kind of tired, I was kind of ready for the next thing. But the problem is, none of this goes away. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. So give me give me the motivation and Ill get out there and do it. I was teaching high school in Los Angeles. Check it out below and hopefully you learn not only a little more about me, but you also pick up some tidbits about business, entrepreneurship, work-life balance, family, and important time-management habits. Be there for your families. But, you know, Ive written a book before with Brandon on real estate. Sitting alone in my hospital bed, all I could think about was my girls, Julie, and the rest of my family . It was a very unpleasant experience, very scary again, you know, I was fairly uncertain I would get through it. What are you waiting for? Explorer. It's time to stop just thinking, talking, or dreaming about the future real estate investing can give you. Plus, he doesn't own any rental properties outright anymore, simply because BiggerPockets requires too much of his attention. It sounds like you said okay, what am I going to do next? And I suppose if I had enough people saying, Yeah, Josh, you should do it, for sure, I might jump at it. Find which one works best for you, your resources, and your goals. 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. Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. 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. Joshua Dorkin, Brandon Turner. Host and Producer on The Undeniably Curious Podca, Host on BiggerPockets Real Estate Po, BiggerPockets Video Podcast, and Money with Friends, and Guest on BiggerPockets Business Podcast. I take care of myself. What's my secret? 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. 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. After coming up short, Joshua decided to take matters into his own hands and start his own website. 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. vMs=+C>xZ_/>iZg>XA~! I realized that like, thats not healthy.
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