1065 episodes totalling 1002 hours, 17 minutes. Dan Daugherty: I just might, well, offline, lets catch up, because maybe theres something we can do together. You know, dont keep doing things that keep you super stressed out. I mean, I went up against tremendous opposition. Suite 675
Dan Daugherty interviews Josh Dorkin who founded BiggerPockets in his living room with $12 bucks. Josh Dorkin: I thought I was having a heart attack. It is my mission to continue to better all of these until my time comes - hopefully when Im much older, but I wont allow myself to let the other nonsense get in the way of that mission. A few months back I had the blurry thing, but without the other stuff, and of course, went to visit Dr. Google. For locals, by locals. What's my secret? 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. I choose to deal with them as they come using logic and working through like I would any game or problem. 40.3K subscribers Thirteen years ago, Joshua Dorkin's friends teased him about starting a website that seemed to have no future. Right? You know, thats, surprisingly a significant boost to your health. And everybodys at each others throats and stressed and tense. If you're not satisfied with your purchase, you can return your book for a full refund within 30 days. You need to change your diet, you need to do some exercise. Right? What are the things that I need to do to be better within all these personal domains? . 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. In my case, the two things most searched are my net worth and why I left BiggerPockets. 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. And after about two years, I quit my job teaching and I went full time. I think its one of the top hundred podcasts in the world, give or take. Josh Dorkin: Absolutely. 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. 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. 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. And not difficult. All things Colorado delivered straight to your inbox. After spending an amazing day with my girls, out of the blue one of my eyes went blurry. 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. It became more than a website - it became a brand and an ideal. Keep in mind that full time in this case means 80-100 hours a week, with no days off, no vacations, no respit. The blur lasted a little less than 10 minutes, but after that, my eyes just felt funny. Touch device users, explore by touch or with swipe gestures. I mean, you know, super, super stressful periods. And I didnt want, I just didnt want to do that. 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. The couple also has a son named Wilder. So I read about happiness, right? Choosing a selection results in a full page refresh. 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. If thats the case, figure out what you need to do to change. Josh talks about what he did to get to a place of happiness and how big changes in his life became catalysts that helped him, his family, and the business grow. While teaching, I began to build a directory of resources and a forum which were the roots of todays community and platform. Josh Dorkin: Absolutely. 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. Im on the board. Every purchase comes with free bonus content: How to Invest in Real Estatewill catapult you 510 years ahead of where you are now. Joshua Dorkin Oct 2016 Mar 2021. It is always interesting to see what kind of things come up when you search for yourself online. And from a bootstrap perspective, you know, bootstrapping, you have a lot less support than you do when you raise money. vMs=+C>xZ_/>iZg>XA~! Dont get me wrong - I used to stress about EVERYTHING. 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. I recommend it to everyone. Theres so much. And so that ultimately led to diversification of the business. 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. Its fabulous. When I started Bigger Pockets it was, I was teaching special ed. Then I got a little nauseous and dizzy with a very minor headache. 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. 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. 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. We have a guy named Josh Dorkin. 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. For those of you that are truly curious, wait no longer . His wife and three daughters wouldnt take too kindly to sharing their space. I had a budget and time crunch, and was not going to be able to get what I needed on budget or in time. Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice.. Joshua Dorkin is the author of The Book on Investing In Real Estate with No (and Low) Money Down (4.20 avg rating, 1854 ratings, 108 reviews, published 2. Author. There are few things worse than seeing your child suffer and this period was easily the worst of my life. 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. Sitting alone in my hospital bed, all I could think about was my girls, Julie, and the rest of my family . 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. Ive used that technique, and that has helped me dramatically. I doubt it. This led to massive burnout and I came very close to quitting and shutting everything down. 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. I cant really describe in words what everything looked like, but it didnt feel right. But did you, were you ever really depressed at all? But the problem is, none of this goes away. But I look at the cycle as a multi stage cycle. I really enjoyed the conversation. I didnt have a co-founder, I didnt have any partners. 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 that goes into to do lists. You know, I couldnt breathe. The Digital and eTextbook ISBNs for How to Invest in Real Estate are 9781947200050, 1947200054 and the print ISBNs are 9780997584707, 099758470X. Once I realized this, I instantly knew what I had to do. 1675 Larimer St.
. This terrifying situation broke us, but didnt defeat us. 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. Second phase was when I took it serious, quit my job and really spent all my time on it. I had time to wonder, time to wander, and time to contemplate my life and my happiness. 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 . Everyone knows real estate investing can be a powerful way to build wealth and achieve true financial freedombut because each persons journey is different, knowing the first steps to take can be challenging. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 1,000 rental units under his belt. Dan Daugherty: Welcome to this episode of The Big exit. 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. 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). 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 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. 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 I realized that I was unhappy. Well, the reality is, we are all running out of time. 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. 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. Josh tells his story of wanting to quit, having 3 nervous breakdowns, and eventually selling to a private equity company. The days of building product, building community, marketing, growth hacking and being creative were replaced with days managing people. And in that time, I realized that I wasnt as happy as I wanted to be running the business. And my idea, you know, was one where, you know, VCs and angels thought it didnt have a chance. But time and life experience has taught me that doing so only makes my health, relationships, and happiness far worse. Separating the job from the company took a lot of time for me to do, but the realization set me on a path to where I am today. Over the months and months that I spent caring for her, I had something I had never previously had in my adult life - time. But yeah, just finding different ways to tweak the way youre doing things, right, if what youre doing personally with your family, and Ive also done that. What is a VA Loan and Why Should I Consider Using One? And for me, the outlook is Im not going to let these things dominate me, theyre not going to define me, Im going to allow them to, like you say, to become some kind of catalyst. We launched a book business. +TYKqXLfsid| They really wanted to take me, but without Julie around, I worried about the girls, and passed the initial neurological tests, so I decided to play it by ear. I didnt, you know, if there was emergencies, youd deal with it, but like, that was it, that was what that day was about. 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. With over 100 million prime members, theres about a 1 in 3 chance you are one and if you are, theres a close to 50% change youre shopping there once a week. And, you know, Ive, you know, when I get back into it, you know, occasionally I give it a kick start. This was not like, something that everybodys like, Oh, this is going to be the greatest thing since sliced bread. The impact of the site, the podcasts, the dozens of books, the videos cant be measured in KPIs alone, but must be measured by lives changed for the better.As a result, BiggerPockets helped transform an industry. Highly recommended!" Nat Borchers, retired pro athlete, What you may not know is Joshua's journey in founding, building, scaling, and finally leaving BiggerPockets. 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. 04 Mar 2023 02:14:54 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. Because, man 2020, nobody feels good anymore, man, we dont feel good anymore. Mind you, in order to survive in business, the pivot is one of your most powerful tools. Like dont keep doing things that make you miserable. . ChatGPT disagrees (see image) What say you? And in order to do that, we were going to have to penny pinch at home because my wife was not working. When I founded the company I was teaching full time at a special ed high school in the Los Angeles area. 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. I dont know, you know, I certainly have my own unique and distinct perspective, like anyone else. Dan Daugherty: And you have that almost daily and you have to have that type of growth mindset. I was in tears, I was just miserable. I put on my headset and Id walk around the neighborhood and I easily got my 10,000 steps. But COVID hit, and we got sick in March and it was, you know, it was tough and I was very, very, very sick. What are you waiting for? Make sure youre doing everything you can to live your best life. 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. Brandon Turner & Joshua Dorkin. If you dont take the time to find moments for yourself - moments to be present with the world around you, you might be missing some of the best opportunities for personal happiness. I was making money, but I was still ready, you know, that desperate to just get out. 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. 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? But I, you know, theres so many books out there. Dan Daugherty: Well said. What you may not know is Joshua's journey in founding, building, scaling, and finally leaving BiggerPockets. She drove me and dropped me at the door of the ER and I spent the next 4+ hours getting tested. 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. It was brutal. because I felt that I had to succeed, and because in reality, I was STUCK IN MY BUSINESS instead of working ON MY BUSINESS. 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. Absolutely. 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. So the operating manual was how do I go from unhappy to happy. And so what I tell my friends and just people that you know if I ever am speaking is, you know, you got to take care of your first, yourself first. 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. Post close, I joined the board of directors, but no longer was involved in the day to day decision making at the company. Knowing it wouldnt be wise to drive, I called 911 and a full squad of firemen and paramedics came to visit. I was making money. . BiggerPockets founder Joshua Dorkin and Brandon Turner from the BiggerPockets Real Estate Investing podcast. Just Released: Two NEW BiggerPockets Books to Help You Build Wealth Through Rental Investing . So what I started doing, I was spending hours and hours on the phone every day, constantly and thats part of my job, right? 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. Find which one works best for you, your resources, and your goals. %PDF-1.6
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Ive always followed the same mantra - work hard, hustle, grind. Many of you already know my story, but it is always a privilege to have the opportunity to share it with other entrepreneurs in person, at events, and of course, via podcast conversations. You know, I felt like, something needed to change for me personally. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. 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, the operating manual was, how do I go from unhappy to happy, and that was, it became not just like a. question, but it became a significant force within my life, whether its about you know, journaling about it, contemplating it, talking about it out loud, and making decisions around it.
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