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. Last month I had the opportunity to speak at the Denver Founders event for Colorado entrepreneurs and had a fantastic Q&A with my friend Chris Franks. 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. 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. Of course I was happy to have an amazing loving family and a successful business. 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. 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 remember you and I met, it must have been like, what, when did you found bigger pockets? 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 locals, by locals. I love being an entrepreneur, but I simply prefer working at a smaller company - the sweet spot for me is probably up to 15 employees or so. I think its one of the top hundred podcasts in the world, give or take. 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. We came to Hawaii, weve been here since July. But he came in and was instrumental to advancing the business. 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, 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. Theres a lot of, you know, Colorado just, you know, still a lot of chaos. Originally from the Bay Area in California, she studied photojournalism at San . Like, I mean, you wouldnt know the difference between her and any other kid. Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. As always, I charged on despite my body and subconscious screaming as loud as possible to stop. And most people, I didnt know really anyone who, I had very few friends, you, Scott Yates, and some other guys who, you know, were creating companies locally that I knew that I could talk to. hbbd`b`ab`gb`\ '11d; Z endstream endobj startxref 0 %%EOF 101 0 obj <>stream ChatGPT disagrees (see image) What say you? Explorer. [j:^h%m-dm0 \G/#f?IXv\I:$W2i|IO]K}3R+_D_P{_zZ`uu I\bY]_|[ J'|#W} t_g%=5+nnsN@ W ~xSf&+|r i44u{]Im|0S>gX}^jK9$m0BR8Y]?\fry5l |E~x7~'&xa PE""X WHr;.7=1k +TYKqXLfsid| Well, the reality is, we are all running out of time. You know, dont keep doing things that keep you super stressed out. Josh Dorkin and Brandon Turnerlongtime hosts of the world's #1 real estate podcast, . 04 Mar 2023 02:14:54 How do we make a change, change the way we operate the business so that we, so that Googles algorithm changes become less of a significant impact on who we are and what we do? . The two of them promised me that they would take care of the company in my absense and they certainly did that and I am of course, eternally grateful. JOSH DORKIN: But it gave me the time to really think about life. I realized that like, thats not healthy. 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. She went through something called conversion disorder, which basically the brain kind of shuts the body down. Cool. Josh is also host of the BiggerPockets Podcast (80 million . Its fantastic. 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. . Josh Dorkin started BiggerPockets.com from scratch 10 years ago and now has over 435K members. . It is always interesting to see what kind of things come up when you search for yourself online. I was making money, but I was still ready, you know, that desperate to just get out. As I sat there trying to relax, things didnt improve and I knew I needed to go in. Where else can we dive into this? Is it all the hustle and grind? For those of you that are truly curious, wait no longer . Today I think its a sign of necessity and strength. &i(y`ryG|29#4#Gj9F){(B;y@OJO,4f7Q$t8*>]SvC,:: Fr9BoQhF8E \lNr)#@ 4S9> HZ)9zve'qQE!Q@Q@Q@Q@Q@Q@JLQ_\h? 5o5IJStAmaMb ; +xWjoI:_g#r3/\)T Moi_9}/?i)me 6Oki!h(pf_ x_V{(n5[Y%{c-Iy,Y^a3{W ?5?m,|W"S*B'D]>V^1_7=|V~ Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. . Just work, keep working, be dynamic, pivot and you know, a lot of luck out there. Right? . 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. 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 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. x337R0 B],s@(PH(Y k cG-t} And I think the way you live your life, and your happiness is going to be determined by your outlook on that. 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. And Ive given two examples of bad things Ive been through, Ive been through a lot, you know, some pretty bad things on top of that. And inevitably, you know, I really struggled through those difficult times. Dan Daugherty: Yeah, theres no shortage of chaos in the startup world and those that cannot adapt to change will inevitably fail and close shop. 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. And so, you know, its a serious decision to raise money or not to raise money. While teaching, I began to build a directory of resources and a forum which were the roots of todays community and platform. You know, with. Host Joshua Dorkin is an entrepreneur, most notably the Founder & former CEO of BiggerPockets. This was not like, something that everybodys like, Oh, this is going to be the greatest thing since sliced bread. 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 LOVED the first few years of hiring and scaling. We engaged an investment bank, initiated a process, and ultimately found ourselves at a successful deal with our aforementioned partners. You know, I was in an industry where there were entrenched interests that wanted me destroyed from the get go. Thinker. He convinced a slew of real estate players, such as veteran house-flippers and rental-property investors, to contribute their know-how to BiggerPockets educational blog; added a marketplace for lenders and others to pitch their services; and installed analytic tools such as a calculator that crunches everything from local property taxes to vacancy rates to determine whether that split-level ranch will make for a profitable rental investment. 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 taught myself how to code a number of years before back in college, and just started to run with it. As you can see in the image below, every time you shop while using the smile subdomain, Amazon will show you your charity of choice (in this case, you can see that we support Childrens Hospital Colorado Foundation). C X" So first phase, I call it like that hobby phase. 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. You got to deal with them. Find which one works best for you, your resources . 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. We always wanted to be, you know, in Hawaii and Colorado. We were all about trying to help people build wealth, learn how to build wealth through real estate investing. Joshua Dorkin is the founder and former CEO of BiggerPockets, launched on October 22, 2004. You know what, Im going to get a fitness watch, and Im going to walk 10,000 steps a day. Lifes too short, man. Dan Daugherty: Well said. 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. Yeah. A lot of people can at least. 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. 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. Heres your host, Dan Daugherty. I dont know, you know, I certainly have my own unique and distinct perspective, like anyone else. And so that ultimately led to diversification of the business. 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 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). And the company was profitable. I mean, nights, weekends, you name it, seven days a week. The real estate industry is huge, and often complicated, but this book clears away the fog and uncertainty in a fun, easy-to-read manner. 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. 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. 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. FHA Guidelines: How to Qualify for a 3.5% Down Loan . 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. Thanks, Josh. In November 2017 one of my daughters went through a terrible trauma that was initiated by a surgery - something called conversion disorder. And in that stage, I moved to. 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 once you start tackling them, its amazing how your load gets lighter and lighter and lighter. We build tools, our content, our social presence. Post close, I joined the board of directors, but no longer was involved in the day to day decision making at the company. Will I get more wet if I stay still, walk or run, and why? many things and create so many threats, and theres got to be a better way. 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. 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. Because, man 2020, nobody feels good anymore, man, we dont feel good anymore. 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. 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? Nearly 30 people work out of the companys RiNo office. 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. Brandon Turner & Joshua Dorkin. Sarahbeth Maney is a Washington, D.C.-based photojournalist and a photography fellow for The New York Times. 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. 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. 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. Today, BiggerPockets is a thriving community of over 500,000 experienced and aspiring real estate investors with a wealth of content around buying, managing, and selling investment properties. But, fast forward to where we are today and shes fully physically functional. Have you had additional clarity from just taking a step back? But Joshua Dorkin is creating an online empire. The couple also has a son named Wilder. Shipping rates vary depending on location. You know, you can work remote, you can do everything remote these days. 28 Jan 2023 08:21:40 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. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it . JoshuaDorkin.com linktr.ee/jrdorkin Posts Reels Videos Tagged Show More Posts from jrdorkin %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz Our gut answer is run, because you get wet from above and front. 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. After coming up short, Joshua decided to take matters into his own hands and start his own website. And the platform itself, your business, whatever it is, is not going to be able to blossom. Or just shut it down. Absolutely. Im on the board. Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin. There had been ups, there had been downs. 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! And then I go through and Im like, all right, where am I crappy in each one of these things? I learned that the sudden eye blur thing could be a sign of a stroke, but I believed it needed to come along with other symptoms. It became more than a website - it became a brand and an ideal. It was time for me to step down, bring in partners, and move on from the day to day running BiggerPockets. 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 . Yeah. 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. I move daily and if not for some nagging injuries, try to get in intensive workouts 5 days a week. I coasted through the store with the ease of a professional, choosing items that would look great together and which would stand the test of time. Find which one works best for you, your resources, and your goals. Where am I good in each of these things? One final question. Josh Dorkin: Well, if you put it that way, it sounds pretty good. And, you know, so I take those moments when they come to me and I try and take bold steps when they come. 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. Mind you, in order to survive in business, the pivot is one of your most powerful tools. Where are you spending all of your money? 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. Star Wars: The High Republic: Light of the Jedi. "I would get calls from my buddies who would literally call me. Welcome to the Big Exit, where we discuss startup acquisitions with the founders who lived it. Instead, it dives into dozens of unique, life-changing quests and is packed with more than forty real-life stories of how real estate investors are finding success in todays economy. 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. So I read about happiness, right? We grew the community. I kept this pace up for over 8 years . What are you waiting for? . I was already working 40 hours a week at least on Bigger Pockets in those first two years. But you know, looking to make that a little more official. So I want the opposite. As of February 2019, Amazon has raised $124,651,081.04 for charities through this program (Source Amazon). What's my secret? But I just got caught up in the details, I got caught up in every little detail. What lessons did he learn along the way? Knowing it wouldnt be wise to drive, I called 911 and a full squad of firemen and paramedics came to visit. Then I got a little nauseous and dizzy with a very minor headache. Purchases from the BiggerPockets Bookstore can only ship within the United States. And that goes into to do lists. 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 recommend it to everyone. Josh Dorkin: So you know, weve always wanted to come to Hawaii. And lifes too short, man. Life is short, you know, you dont know what can happen tomorrow. Julie was in California and I was home alone with the girls. Over the months and months that I spent caring for her, I had something I had never previously had in my adult life - time. Rethinking my decision to leave Wordpress. Everything came back clear and they released me. 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. Theres so much. No. When the time came to pick out the shower, I realized that there werent any that matched the size we needed. Dan Daugherty: And you have that almost daily and you have to have that type of growth mindset. Fear of change or of taking risks by changing course has sunk far too many businesses. 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, 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. It was a blast, but by year 12, 13, 14 my job changed. And so I think that mindset is exceptionally important. You are also, obviously Bigger Pockets continues to grow, still the top everything, the community, the podcast. 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. Wednesday was about thinking, networking and not doing. 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. 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. Josh, thank you for coming on the show. Some people dont see that, its almost like when you get a new car, and then you start seeing other similar cars that are the same color that you never saw before. A thought experiment My daughter posed the following question: It is raining outside at a constant rate.