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You know, Im not without stress, and headaches. I didnt have a co-founder, I didnt have any partners. It was a blast, but by year 12, 13, 14 my job changed. But I think from a mindset perspective, you really, I think, if you have a learning mindset, a mindset where Hey, I always want to learn, I always want to get better. And but yeah, thats what Ive been up to. 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. Star Wars: The High Republic: Light of the Jedi. Fear of change or of taking risks by changing course has sunk far too many businesses. But its fantastic. Then I got a little nauseous and dizzy with a very minor headache. It is big enough that youre not doing everything, but small enough that you can still get your hands dirty when you want. Joshua Dorkin Oct 2016 Mar 2021. 04 Mar 2023 02:14:54 All rights reserved. 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. Yeah, yeah. 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, we cant ignore SEO, we cant ignore these things. Its fabulous. But this was awesome Josh, thank you so much for your time. I get to advise Scott and the current leadership team alongside some incredible partners. His wife and three daughters wouldnt take too kindly to sharing their space. 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. ChatGPT disagrees (see image) What say you? So I hired a consultant and he came in and we looked over the business. But he came in and was instrumental to advancing the business. something that I used to think gave me hustle street cred, but today I realize was just a formula for burnout. 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. The Local newsletter is your free, daily guide to life in Colorado. Joshua Dorkin Oct 2016 Mar 2021. 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. Is that a good statement to say? I realized that over the past fourteen years as CEO and sole founder of BiggerPockets, I sought out success, fame, fortune and accolades, as most people do, but despite achieving all of those things, I just wasnt fully happy. So first phase, I call it like that hobby phase. 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. 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. 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. I make a list of everything thats stressing me out, all the stressors, from big to small, and then I start to knock them off. Because, man 2020, nobody feels good anymore, man, we dont feel good anymore. I always wanted to kind of be here, be oh, I used to call bi-coastal, would be like New York and Cali. 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). (Where the hell have you been Josh?!? And its not healthy for any of us, it really is not. And Im, you know, Im trying to figure out whats next, you know, looking at ideas. 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. Was it 2009? Josh Dorkin: Well, if you put it that way, it sounds pretty good. 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? COVID you know, your kid gets sick. 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. Fast forward to yesterday, I had some of those symptoms. It is always interesting to see what kind of things come up when you search for yourself online. And so, you know, its a serious decision to raise money or not to raise money. I kind of just glazed over it and just put my head down into work, so I didnt feel depressed anymore. I remember the exact phone call that I made to the two of them to tell them what was going on. $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? But that's OK. You know, we were living pretty tight on what we were making, where we were, as you know, Denvers not inexpensive. We needed to get this done and time was not on our side. Or just shut it down. 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 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. The political upheaval, the COVID chaos. The blur lasted a little less than 10 minutes, but after that, my eyes just felt funny. But, fast forward to where we are today and shes fully physically functional. You may fail, but at least you will have taken your shot.Good luck! You know, I felt like, something needed to change for me personally. Podcaster. But thats OK. Hes still well on his way to becoming a mogul just less Donald Trump and more Rupert Murdoch. Dan Daugherty: Welcome to this episode of The Big exit. We engaged an investment bank, initiated a process, and ultimately found ourselves at a successful deal with our aforementioned partners. Save up to 80% versus print by going digital with VitalSource. Where else can we dive into this? 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. Well, what do you need to do to change it? Given the choice, I decided to pivot and change course. I mean, the very first early years, you know, I had very little support outside of my wife, you know. And you know, the kids can go out and do physical stuff. 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. Lets just do it. 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. I think its one of the top hundred podcasts in the world, give or take. Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. 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. And Im. Accept the New Rules of Life or Suffer in Misery. So I read about happiness, right? many things and create so many threats, and theres got to be a better way. Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. And, you know, I think theres a lot of people who are willing to. Theres a lot of, you know, Colorado just, you know, still a lot of chaos. But I wanted to be healthier. Josh Dorkin and Brandon Turnerlongtime hosts of the world's #1 real estate podcast, The BiggerPockets Podcastgive you an insider's look at the many different niches and strategies that exist. Genealogy profile for Joshua Dorkin Joshua Dorkin (1843 - 1914) - Genealogy Genealogy for Joshua Dorkin (1843 - 1914) family tree on Geni, with over 230 million profiles of ancestors and living relatives. 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. 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. 95 0 obj <> endobj 100 0 obj <>/Filter/FlateDecode/ID[]/Index[95 7]/Info 94 0 R/Length 36/Prev 376417/Root 96 0 R/Size 102/Type/XRef/W[1 2 0]>>stream This tip will teach you how to be a philanthropist (for free) every time you shop on Amazon. 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. Joshua Dorkin Public figure Father. 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. 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. When I started Bigger Pockets it was, I was teaching special ed. She went through something called conversion disorder, which basically the brain kind of shuts the body down. and what what happen if things went wrong. Along with a team that we put together including physical and occupational therapists, we began to see the wins rack up and by February/March of 2018 she had progressed from her wheelchair to walker to finally walking by herself. I bought a bunch of property as a result of my brother encouraging me to do so, and you know, I thought I was a smart guy. Ive always followed the same mantra - work hard, hustle, grind. Plus, he doesn't own any rental properties outright anymore, simply because BiggerPockets requires too much of his attention. You know, with. So, you know, the decision was, do I raise money? Why I left BiggerPockets is a little more complicated. Weve replaced iced teas, sodas and juices with water in the last decade, and rarely, if ever will I drink alcohol. No. And, you know, were in a position where we have an opportunity to do something like this, like, do it. "Dorkin and Turner have really laid out a clear, straight-to-the-point guide to achieving success through real estate investing. 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. 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. Verified account Protected Tweets @; Suggested users I cant really describe in words what everything looked like, but it didnt feel right. Weve cut down on meat, and work hard to avoid the tempting desserts and snacks I used to be addicted to. But cool, you know, and you move from drinks to water, you start losing weight. 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. And that ended up it was probably like eight years of grind, that is not healthy at all. 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. So we made the decision that we would start and hire one person who could lighten the load for me. I dont know, you know, I certainly have my own unique and distinct perspective, like anyone else. Sarahbeth Maney is a Washington, D.C.-based photojournalist and a photography fellow for The New York Times. I was making money. But I, you know, theres so many books out there. . It was excruciatingly slow and frustrating, but we never let up. Adventurer. Josh Dorkin: Yeah, yeah, I think for me, the book, The One Thing by Gary Keller and Jay Papasan, was one of the most impactful in just, you know, helping me kind of break things down. 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 . 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 started BiggerPockets.com from scratch 10 years ago and now has over 435K members. And in that stage, I moved to. 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. And inevitably, you know, I really struggled through those difficult times. You know, we are not residents yet, you know, were doing our trial balloon now so to speak. 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. . I had never, I hadnt invested another penny in. Brett Jurgens Talks About Building and Selling Notion to Comcast. I recommend it to everyone. Author. . So, I thought there had to be a better way. 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. After spending an amazing day with my girls, out of the blue one of my eyes went blurry. 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. Days and weeks of not knowing what was to come with my daughter eventually led to glimmers of hope that wed see a recovery. C X" 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 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). Lets do it. What are you waiting for? vMs=+C>xZ_/>iZg>XA~! Like, I mean, you wouldnt know the difference between her and any other kid. This ultimately led to me having several panic attacks which really should have been a sign to step back. I remember you and I met, it must have been like, what, when did you found bigger pockets? Joshua Dorkin, Brandon Turner. It is always interesting to see what kind of things come up when you search for yourself online. Thanks, Josh. 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. A thought experiment My daughter posed the following question: It is raining outside at a constant rate. What do I do? . It was a lot to manage and with it came all the headaches that come with growth. . Its fantastic. And so I, you know, on the side, nights and weekends, while teaching, for the first two years, just started building this platform. I eat well - seriously cutting back on sugars, eating lots of fruits and vegetables. In my case, the two things most searched are my net worth and why I left BiggerPockets. Not the way I wanted to spend my Saturday . Looking back, Im reminded of the following from the incredible Hamilton. 28 Jan 2023 08:21:40 Oct 2004 - Nov 201814 years 2 months. . Find which one works best for you, your resources, and your goals. Its unlikely. 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 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. From a life experience, it sounds like youre doing the same thing. 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 . I wasnt, however, happy with what I had spent my time doing. Where are you spending all of your money? I dont know. 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. I really enjoyed the conversation. We're confident in the quality of our books. 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. Dan Daugherty: Well said. Purchases from the BiggerPockets Bookstore can only ship within the United States. I kept this pace up for over 8 years . And not difficult. These facts can either break you or teach you that you simply have no control of things beyond yourself. Where am I good in each of these things? Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. I learned to stop being a cadet and start being a general.', 'life is too short to be stuck in a job you hate. 27 quotes from Joshua Dorkin: 'Today I get 100 times more done with 100 times less effort. Dan Daugherty: All right. 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. Josh Dorkin: Absolutely. Let me know what you think and please share this if you find it valuable! This terrifying situation broke us, but didnt defeat us. 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. 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. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 1,000 rental units under his belt. I mean, I went up against tremendous opposition. I mean, nights, weekends, you name it, seven days a week. 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. Theres so much. Mind you, in order to survive in business, the pivot is one of your most powerful tools. Josh Dorkin: So you know, weve always wanted to come to Hawaii. And that goes into to do lists. 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. And I think the way you live your life, and your happiness is going to be determined by your outlook on that. And so once you start tackling them, its amazing how your load gets lighter and lighter and lighter. 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. very much oversimplifying it. It sounds like you said okay, what am I going to do next? I was no longer happy as CEO of my own company. Today, BiggerPockets is the premier real estate investing website online with . I taught myself how to code a number of years before back in college, and just started to run with it. You know, you can work remote, you can do everything remote these days. I LOVED the first few years of hiring and scaling. 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 was kind of tired, I was kind of ready for the next thing. Choosing a selection results in a full page refresh. 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. Read it!Ryan Harris, Super Bowl 50 Champion and real estate investor. Joshua Dorkin didnt have to go to Trump University to learn a difficult lesson about real estate investing. 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. %PDF-1.6 % So, without spending any more money or giving up any of your time (both of which I recommend you do in support of great charities around the world), you can be a philanthropist! I was making money, but I was still ready, you know, that desperate to just get 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. I believe the program is available for all Amazon users, so even if you arent Prime, you can partake. 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. 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. serendipitous mindset, but you also need to understand who you are. 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. And I had to step away, I had to step away from the company, in order to take care of my family. Keep in mind that full time in this case means 80-100 hours a week, with no days off, no vacations, no respit. 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. And so we said, hey. This caused a shift in Joshua's reality, so he dropped everything. Highly recommended!" Nat Borchers, retired pro athlete, I mean, you know, you want me to just take it from the beginning or? And you know, continue to love Bigger Pockets and love how its impacting peoples lives. 4.6 208 Ratings; $11.99; Listen $11.99; Listen . I want to, I listened to experts on it. Mr. Dorkin's vision for BiggerPockets helped to propel it into becoming one of the top real estate destinations online. Do what you need to do to take care of your health. And, you know, my goal was to figure out how do I get myself, how do I change things? \"The business really wasn't making serious money for probably getting close to a decade.\"\r\r The story has a happy ending. You know, we started producing video, we created podcasts, we created books, you know, we wanted to be where the listeners and viewers were versus thinking, hey, theyre going to come to us. And particularly, I think the most stressful part was, I was by myself, to your point. They live in Grays Harbor, Wash. Nearly 30 people work out of the companys RiNo office.