But Ive definitely drafted an outline. Weve cut down on meat, and work hard to avoid the tempting desserts and snacks I used to be addicted to. The company, by the way, is the largest real estate investing media company and community out there. Josh, thank you for coming on the show. What you may not know is Joshua's journey in founding, building, scaling, and finally leaving BiggerPockets. And so, back in 04 I was living in Los Angeles, I was teaching special ED high school. Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice.. And then I go through and Im like, all right, where am I crappy in each one of these things? I created this site in 2004 to create a place where investors could learn, network, market and make deals in a safe online environment. 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. 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. For those of you that are truly curious, wait no longer . 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 . And its made it so Im a hell of a lot happier. I need to move more, cool. I was happy to have three amazing children, food on the table, and a safe place to live. The blur lasted a little less than 10 minutes, but after that, my eyes just felt funny. 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 mean, whatever it is. This ultimately led to me having several panic attacks which really should have been a sign to step back. 27 quotes from Joshua Dorkin: 'Today I get 100 times more done with 100 times less effort. And lets dive in. Mr. Dorkin's vision for BiggerPockets helped to propel it into becoming one of the top real estate destinations online. I eat well - seriously cutting back on sugars, eating lots of fruits and vegetables. My excitement for the company and brand never waned, but I really stopped loving going in to work, but didnt know it. Josh Dorkin: Absolutely. something that I used to think gave me hustle street cred, but today I realize was just a formula for burnout. 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. JoshuaDorkin.com linktr.ee/jrdorkin Posts Reels Videos Tagged Show More Posts from jrdorkin 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. 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. doesn't own much property. 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. 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. I could still make things out, but barely. 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. How do we do this better than everybody else? We launched amazing products like the podcast, which today is still one of the top 10 business shows in the world. And please share this article so more people can learn about this amazing program. 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. I got through it, thank goodness, and, again, it was another one of those moments for us where were like, you know, what are we doing? Almost a lifetime ago - 18 years today - I officially marked the founding of BiggerPocketsStarting a hobby website while working as a full time teacher was one thing.Two years later taking the risk to quit my job to become a full time startup founder was the craziest and smartest thing I ever did. This keynote speech goes deep into what really matters most. Verified account Protected Tweets @; Suggested users Dan Daugherty: Welcome to this episode of The Big exit. And the company was profitable. As I sat there trying to relax, things didnt improve and I knew I needed to go in. We've all felt scared about doing that big thing we've dreamed of doing. We all KNOW what we need to do, but more often than not we let our fear of the unkno. Was it 2009? Most people do what they can to help others out, and I wanted to share a little tip along those lines that I dont think a lot of people are familiar with. . Josh Dorkin started BiggerPockets.com from scratch 10 years ago and now has over 435K members. And so I, you know, on the side, nights and weekends, while teaching, for the first two years, just started building this platform. ChatGPT disagrees (see image) What say you? 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. What do you do when somebody is ripping the copper piping out of your vacant unit? I remember you and I met, it must have been like, what, when did you found bigger pockets? 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. In my case, the two things most searched are my net worth and why I left BiggerPockets. Yeah. . 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. I LOVED the first few years of hiring and scaling. This terrifying situation broke us, but didnt defeat us. 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. . Yeah, yeah. 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. It became more than a website - it became a brand and an ideal. So I want the opposite. But Im not currently on it. Lets do it. And, you know, so I take those moments when they come to me and I try and take bold steps when they come. 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. the health, for example, instead of like, hey, I need to lose weight. Mind you, in order to survive in business, the pivot is one of your most powerful tools. "Dorkin and Turner have really laid out a clear, straight-to-the-point guide to achieving success through real estate investing. We were all about trying to help people build wealth, learn how to build wealth through real estate investing. I taught myself how to code a number of years before back in college, and just started to run with 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. Dan Daugherty: You know, this is, as you were talking, all of the significant life changing moments that occurred not just in your life, but just in our own individual lives, tends to be even if its really, really bad, or really, really good, it tends to be a catalyst for something even bigger, and not all the time, but even from listening to you, it sounds like different things that happened within your life, almost had a purpose or a reason that got you to where you are today. +TYKqXLfsid| You know, like any entrepreneurial story, lots of ups, lots of downs. So give me give me the motivation and Ill get out there and do it. I dont know, you know, I certainly have my own unique and distinct perspective, like anyone else. We grew the platform and its offerings. It is always interesting to see what kind of things come up when you search for yourself online. Well, what do you need to do to change it? 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. In this conversation. many things and create so many threats, and theres got to be a better way. It is big enough that youre not doing everything, but small enough that you can still get your hands dirty when you want. Standard economy shipping is always FREE, but you can upgrade if you'd like to receive your book faster. 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. And the platform itself, your business, whatever it is, is not going to be able to blossom. I recommend it to everyone. 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. I choose to deal with them as they come using logic and working through like I would any game or problem. 5280 Publishing, Inc. 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. Today, BiggerPockets boasts more than 725,000 members, produces the top-rated real estate podcast on iTunes, and last year raked in $7 million in revenue through advertising, premium memberships, and partnerships with companies like credit-rating agency TransUnion. 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. This caused a shift in Joshua's reality, so he dropped everything. But I look at the cycle as a multi stage cycle. Ive always followed the same mantra - work hard, hustle, grind. Dorkin, 41, wont be hacking houses anytime soon. And in that time, I realized that I wasnt as happy as I wanted to be running the business. And, you know, Ive, you know, when I get back into it, you know, occasionally I give it a kick start. 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. Adventurer. I had a budget and time crunch, and was not going to be able to get what I needed on budget or in time. You may fail, but at least you will have taken your shot.Good luck! 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 . I you know, I think another way of saying is, you know, putting yourself in a position to dot dot dot. And Im, you know, Im trying to figure out whats next, you know, looking at ideas. And so, for example, one of the core values of Bigger Pockets is family above all else. Today, BiggerPockets is the premier real estate investing website online with . 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. 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. In my case, the two things most searched are my net worth and why I left BiggerPockets. Make sure youre doing everything you can to live your best life. You know, theres just the, I mean, its everywhere, right? It was a lot to manage and with it came all the headaches that come with growth. Do I hire? And hopefully, you know, hopefully, somebody listening takes something away from it, I, you know, entrepreneurship is challenging, its really, its really, really tough. So we made the decision that we would start and hire one person who could lighten the load for me. And really, quite frankly, I did not do a good job of understanding when Im depressed, or who to call, if Im depressed. And my quick advice on that is this, this has absolutely worked for me over and again, it may not work for you, but its definitely worked for me. Wednesday was about thinking, networking and not doing. I was making money. It was time for me to step down, bring in partners, and move on from the day to day running BiggerPockets. 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. FHA Guidelines: How to Qualify for a 3.5% Down Loan . And that goes into to do lists. I move daily and if not for some nagging injuries, try to get in intensive workouts 5 days a week. I kept this pace up for over 8 years . I built at my own pace and designed a business with a mission and values that were important to me. Quotes "I believe 100% in putting all my eggs in one basket. 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. 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. This led to massive burnout and I came very close to quitting and shutting everything down. 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. These facts can either break you or teach you that you simply have no control of things beyond yourself. Thanks, Josh. be helpful, you know, seek out advisors in your field and you know, work towards it. 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. Problems dont go away. 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 I didnt want, I just didnt want to do that. Denver, Colorado, United States. 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. Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. 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. Right? 04 Mar 2023 02:14:54 Its unlikely. 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. After spending an amazing day with my girls, out of the blue one of my eyes went blurry. She went through something called conversion disorder, which basically the brain kind of shuts the body down. Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. Right? And everybodys at each others throats and stressed and tense. There were personality clashes, bad hires, and everything else you could imagine. Do what you need to do to take care of your health. I put on my headset and Id walk around the neighborhood and I easily got my 10,000 steps. We grew the community. . Brandon Turner is an author, entrepreneur, and active real estate investor with more than 1,000 rental units under his belt. And I had to step away, I had to step away from the company, in order to take care of my family. Days and weeks of not knowing what was to come with my daughter eventually led to glimmers of hope that wed see a recovery. I mean, you know, super, super stressful periods. 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. And I suppose if I had enough people saying, Yeah, Josh, you should do it, for sure, I might jump at it. As Founder and CEO of BiggerPockets, I created the vision and strategy for the business and bootstrapped the company until . But I wanted to be healthier. Our gut answer is run, because you get wet from above and front. Like, I mean, you wouldnt know the difference between her and any other kid. . 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.' 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. I cant really describe in words what everything looked like, but it didnt feel right. . We're confident in the quality of our books. . Looking back, Im reminded of the following from the incredible Hamilton. 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. That was all I was allowed to do on Wednesday. because I felt that I had to succeed, and because in reality, I was STUCK IN MY BUSINESS instead of working ON MY BUSINESS. But cool, you know, and you move from drinks to water, you start losing weight. We had kids at that point. And I think the way you live your life, and your happiness is going to be determined by your outlook on that. But just know that theres guys out there like me and Dan and, you know, countless other people whove tried it, whove been through it. 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. So I know how to do it, I just, I dont know, Im torn. Dan Daugherty: And well, first off, Im so happy that your daughter is healthy now. And so yeah, that becomes stressful. Many of you know how I worked almost 8 years without taking a single day off because of this mentality . You know, we are not residents yet, you know, were doing our trial balloon now so to speak. And instead of working on the business, I was working in the business exclusively. You got to deal with them. Purchases from the BiggerPockets Bookstore can only ship within the United States. Accept the New Rules of Life or Suffer in Misery. For returns, refunds, or the status of your order, you can contact. And my idea, you know, was one where, you know, VCs and angels thought it didnt have a chance. As of February 2019, Amazon has raised $124,651,081.04 for charities through this program (Source Amazon). 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. Keep in mind that full time in this case means 80-100 hours a week, with no days off, no vacations, no respit. And that had to stop too. 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? And so I think that mindset is exceptionally important. 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. Be there for your families. And in order to do that, we were going to have to penny pinch at home because my wife was not working. Its fantastic. 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. After coming up short, Joshua decided to take matters into his own hands and start his own website. And so we said, hey. Today, I think its a sign of necessity and strength, to be self-aware enough to know. 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. I was in tears, I was just miserable. You know, you can work remote, you can do everything remote these days. Youre operationalizing your life and that has allowed you to kind of be more open. 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. Dan Daugherty interviews Josh Dorkin who founded BiggerPockets in his living room with $12 bucks. But, fast forward to where we are today and shes fully physically functional. Oh, and were living on a rock in the middle of the ocean during a pandemic, which means that getting your hands on materials that arent here in Maui, is a game of patience. Star Wars: Thrawn. I dont know, maybe, if I get some encouragement from my friends Ill do it. Came to be ready to quit and like told my wife, hey, Im ready to sell the business. And in that stage, I moved to. 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). It was excruciatingly slow and frustrating, but we never let up. 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. But yeah, what else you got? 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.. So first phase, I call it like that hobby phase. So, in 2004, Dorkin launched BiggerPockets, a website for real estate investors to ask and answer each others questionslike a Reddit for property owners. Josh Dorkin: No, thanks, man, I appreciate it. And that ended up it was probably like eight years of grind, that is not healthy at all. After two years, I quit my teaching job, got married, moved to Colorado and began working full time on BiggerPockets. But its so easy for us to try and ignore things and hopefully itll go away. 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! I learned to stop being a cadet and start being a general.', 'life is too short to be stuck in a job you hate. As you know, Im like a scrawny dude. Everything came back clear and they released me. Star Wars: The High Republic: Light of the Jedi. 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. 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. So, I thought there had to be a better way.