hbbd`b`ab`gb`\ '11d; Z endstream endobj startxref 0 %%EOF 101 0 obj <>stream Julie was in California and I was home alone with the girls. Dan Daugherty: Thats right. 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. Horrifyingly scary, where I was in my, in the office and I broke down and just I was in tears. There were personality clashes, bad hires, and everything else you could imagine. 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. Find which one works best for you, your resources, and your goals. Because, man 2020, nobody feels good anymore, man, we dont feel good anymore. They checked my blood, my heart, my eyes, and did a CT with contrast of my head and neck to check my brain and blood vessels. 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 political upheaval, the COVID chaos. 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. Theres a lot of, you know, Colorado just, you know, still a lot of chaos. As Founder and CEO of BiggerPockets, I created the vision and strategy for the business and bootstrapped the company until . In my case, the two things most searched are my net worth and why I left BiggerPockets. Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. And lifes too short, man. A few months back I had the blurry thing, but without the other stuff, and of course, went to visit Dr. Google. } !1AQa"q2#BR$3br Is it all the hustle and grind? Plus, he doesnt own any rental properties outright anymore, simply because BiggerPockets requires too much of his attention. +TYKqXLfsid| 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. 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. What do I do? And so I, you know, on the side, nights and weekends, while teaching, for the first two years, just started building this platform. But you know, looking to make that a little more official. \"The business really wasn't making serious money for probably getting close to a decade.\"\r\r The story has a happy ending. And so I think for a very long time I ran my life, you know, moment to moment and its through conversations with folks like Brandon, you know, lots of, Ive got some good friends who think real deeply, to reading a lot, reading a lot, listening to some, you know, thought leaders in various spaces, you know, my transformation really, I think began from the moment of that I went to my wife, year eight of the company, and I was in tears. No, very few people do exactly what you just said and thats actually something that I do as well, I break it out. Is it all the material stuff? I mean, whatever it is. Did you feel, I mean, Im sure you had lots of times where you just wanted to quit or push through. His vision for the site and its future brought national press attention to both Mr. Dorkin and to BiggerPockets. 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. x337R0 B],s@(PH(Y And so I think that mindset is exceptionally important. You know, theres just the, I mean, its everywhere, right? Of course I was happy to have an amazing loving family and a successful business. and what what happen if things went wrong. And instead of working on the business, I was working in the business exclusively. 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. JOSH DORKIN: But it gave me the time to really think about life. I had a budget and time crunch, and was not going to be able to get what I needed on budget or in time. 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. There are few things worse than seeing your child suffer and this period was easily the worst of my life. You know, we cant ignore SEO, we cant ignore these things. In this conversation. That was all I was allowed to do on Wednesday. 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 why not? 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. I didnt take calls. The blur lasted a little less than 10 minutes, but after that, my eyes just felt funny. I wasnt, however, happy with what I had spent my time doing. The Digital and eTextbook ISBNs for How to Invest in Real Estate are 9781947200050, 1947200054 and the print ISBNs are 9780997584707, 099758470X. Post close, I joined the board of directors, but no longer was involved in the day to day decision making at the company. Today, BiggerPockets has grown to more than 870,000 members. I recommend it to everyone. I built at my own pace and designed a business with a mission and values that were important to me. 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. 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. What you may not know is Joshua's journey in founding, building, scaling, and finally leaving BiggerPockets. 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. Accept the New Rules of Life or Suffer in Misery. Josh Dorkin and Brandon Turnerlongtime hosts of the world's #1 real estate podcast, . His wife and three daughters wouldn't take too kindly to sharing their space. Im your host, Dan Daugherty and today I have a good friend, Josh Dorkin, who is the founder and former CEO of Bigger Pockets. Thirteen years ago, Joshua Dorkin's friends teased him about starting a website that seemed to have no future.\r\r \"I would get calls from my buddies who would literally call me on my cell phone [and say] 'Hey Josh, we just walked past a penny on the ground. Is that true? I want to, I listened to experts on it. 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. 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. And inevitably, you know, I really struggled through those difficult times. Doing so otherwise would leave me a nervous wreck. On October 28, 2015, the couple released a book named "The Book on Managing Rental Properties." Children In May 2016, they welcomed a daughter, named Rosie. Lets do it. And that ended up it was probably like eight years of grind, that is not healthy at all. 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. ChatGPT disagrees (see image) What say you? This keynote speech goes deep into what really matters most. Do I hire? 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. And its not healthy for any of us, it really is not. Joshua Dorkin Dec 2015 Mar 2021. Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. 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. vMs=+C>xZ_/>iZg>XA~! This happens so often where and you mentioned it, its at the SEO algorithm, is it, its almost like youre manic because one day you just closed a really large client, youre all celebrating, and then the next day, all of your servers crash. And particularly, I think the most stressful part was, I was by myself, to your point. I was in tears, I was just miserable. Weve climbed mountains, traveled, explored and journeyed, surfed, skied and have never stopped seeking out a full and rich life. But thats OK. Hes still well on his way to becoming a mogul just less Donald Trump and more Rupert Murdoch. But Im not currently on it. 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 . No. 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. 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. Theres so much. I remember you and I met, it must have been like, what, when did you found bigger pockets? And so yeah, that becomes stressful. Josh Dorkin: No, thanks, man, I appreciate it. We launched a book business. After about six months since transitioning out of the role of CEO of BiggerPockets to advisor, I thought it was time to kick off my own personal platform, this site. Shopping these days is just a little less fun. I dont know, maybe, if I get some encouragement from my friends Ill do it. The Local newsletter is your free, daily guide to life in Colorado. I mean, you know, you want me to just take it from the beginning or? 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. For me, I realized that if Im going to run this company, Ive got these kids that I love and my wife and I had spent so long not taking vacations, not taking days off, I worked eight years without a single day off, which is incredibly stupid. Shipping rates vary depending on location. Well, then you need to figure out a system how to stop being responsive to your email and be proactive, because youre not running your business, your email is running you, right? We just wanted to find a place where we can go, where we could just normalize our lives, where my kids could, you know, get up and not be all stressed out where, you know, we knew that the government was doing a lot to mitigate the situation. 40.3K subscribers Thirteen years ago, Joshua Dorkin's friends teased him about starting a website that seemed to have no future. Josh Dorkin: Absolutely. Unlike most traditional real estate books, this one wont tell you there is one secret path to real estate success. So we went and we hired an investment bank, I mean, cutting a long story short, Im sure youre going to have a ton of questions and sorry for ranting, but we hired a bank, went through a process, and, you know, six, eight months later, I had an exit to a private equity company, still own a significant piece of the business. Yeah. But Joshua Dorkin is creating an online empire. What do you do when somebody is ripping the copper piping out of your vacant unit? 4.6 208 Ratings; $11.99; Listen $11.99; Listen . 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. You got to deal with them. 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. %PDF-1.6 % Leaving BiggerPockets was very difficult - probably similar to sending your child off to college, but I did so both because it is was I had to do, but also because it was what was best for the company. Josh Dorkin: I thought I was having a heart attack. And in order to do that, we were going to have to penny pinch at home because my wife was not working. Lets just do it. I realized that like, thats not healthy. And what happens inevitably, and I think you and Ive seen this countless times, you know, you raise the money, and now you have bosses and those bosses are telling you how to run the business and now you dont get to run the business the way that you actually thought you were going to run the business, because you have bosses and youre not working for yourself anymore. So, you know, being willing and open to change and being dynamic, I think is one of the most important things. Its not money, its not success, but its something that matters even more: fulfillment and family.Be sure to give Joshua a follow on Twitter at @jrdorkinCheck the full show notes here: https://www.biggerpockets.com/show421
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