And, you know, were in a position where we have an opportunity to do something like this, like, do it. And hopefully, you know, hopefully, somebody listening takes something away from it, I, you know, entrepreneurship is challenging, its really, its really, really tough. . I believe the program is available for all Amazon users, so even if you arent Prime, you can partake. You know, we are not residents yet, you know, were doing our trial balloon now so to speak. Was it 2009? When the time came to pick out the shower, I realized that there werent any that matched the size we needed. How to Invest in Real Estate - Google Books So first phase, I call it like that hobby phase. 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. Make sure youre doing everything you can to live your best life. 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. "I would get calls from my buddies who would literally call me. 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. And Im excited to have you on board to really tell the story of how you went from zero to an exit without ever raising a single dime of outside capital. 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. 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. How do we do this better than everybody else? be helpful, you know, seek out advisors in your field and you know, work towards it. And anything thats stressing me out, you absolutely have to dissect it, and then figure out what the root cause is and that opens up everything else because then you figure out ways, again, Ill use the term operationalize it, is because then it allows you to leverage different tools, maybe you have to delegate more, maybe you dont have to respond within an hour of every single email that comes in, whatever it might be. hbbd`b`ab`gb`\ '11d; Z endstream endobj startxref 0 %%EOF 101 0 obj <>stream Josh Dorkin: Absolutely. As I sat there trying to relax, things didnt improve and I knew I needed to go in. Well, the reality is, we are all running out of time. Be there for your families. Horrifyingly scary, where I was in my, in the office and I broke down and just I was in tears. BiggerPockets Real Estate Podcast - 421: Family Over - Stitcher "Dorkin and Turner have really laid out a clear, straight-to-the-point guide to achieving success through real estate investing. I recommend it to everyone. I created this site in 2004 to create a place where investors could learn, network, market and make deals in a safe online environment. They suspected some kind of migraine, and cleared me of all the really scary stuff. 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. 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. But yeah, what else you got? Brandon Turner & Joshua Dorkin. Thanks, Josh. Thinker. 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 I was helping other people get rich, and I was broke.\"\r\r Dorkin spent the next 8 years working mostly as a one-man operation as he tried to monetize a fledgling website.\r\r \"We were struggling and scrapping by on every AdSense check that we could collect,\" Dorkin says. But, fast forward to where we are today and shes fully physically functional. 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. What do you do when somebody is ripping the copper piping out of your vacant unit? Joshua Dorkin on Twitter: "I saw my daughter's teacher working at How do I hire? 4.6 208 Ratings; $11.99; Listen $11.99; Listen . 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. As of February 2019, Amazon has raised $124,651,081.04 for charities through this program (Source Amazon). Lifes too short, man. And I mean, even when Brandon was hired, it sounds like you were able to take a step back, look at a much bigger strategic view from a business perspective that accelerated growth. So, in 2004, Dorkin launched BiggerPockets, a website for real estate investors to ask and answer each others questionslike a Reddit for property owners. 5280 Publishing, Inc. This caused a shift in Joshuas reality, so he dropped everything. Startup / real estate investor. I was happy to have three amazing children, food on the table, and a safe place to live. Today, BiggerPockets is a thriving community of over 500,000 experienced and aspiring real estate investors with a wealth of content around buying, managing, and selling investment properties. You know, theres just the, I mean, its everywhere, right? There had been ups, there had been downs. And so that ultimately led to diversification of the business. Knowing I was in for a long visit to Home Depot yesterday, I made sure I had my list together and set out to pick up all the materials I needed to renovate our guest bathroom. Theres so much. But Ive definitely drafted an outline. hb```b``"Y@9YY0sp(AnD$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 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. 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. And I suppose if I had enough people saying, Yeah, Josh, you should do it, for sure, I might jump at it. She went through something called conversion disorder, which basically the brain kind of shuts the body down. 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. We always wanted to be, you know, in Hawaii and Colorado. You know, I got a standing desk instead of a sitting desk, you know, then I started to add one on one meetings, you know, when I had one on one meetings, instead of doing it at a restaurant or coffee, or sitting down in the office, they would be walking meetings. Dan Daugherty: Yeah, I mean, lets start from the very beginning. Dan Daugherty: Ah, I love that. 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. Came to be ready to quit and like told my wife, hey, Im ready to sell the business. So I read about happiness, right? 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. Looking back, Im reminded of the following from the incredible Hamilton. 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. 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. I didnt have a co-founder, I didnt have any partners. What you may not know is Joshuas journey in founding, building, scaling, and finally leaving BiggerPockets. I always wanted to kind of be here, be oh, I used to call bi-coastal, would be like New York and Cali. 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 Adventurer. 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 realized that like, thats not healthy. But, you know, getting to exit, getting close to the finish line, so to speak is an absolutely incredible feeling and I wish it upon, you know, all the entrepreneurs out there. We were all about trying to help people build wealth, learn how to build wealth through real estate investing. 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. Shipping rates vary depending on location. Is that a good statement to say? Thank you for the stories and the insights and the tips. This book provides a comprehensive overview of real estate investing strategies whether buy and hold to short-term rental and everything in between. Host Joshua Dorkin is an entrepreneur, most notably the Founder & former CEO of BiggerPockets. 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. 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. 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. So hired a guy named Brandon Turner, he, some of you listening may know him, hes still the co-host of the Bigger Pockets podcast. doesn't own much property. Dorkin, 41, wont be hacking houses anytime soon. 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. 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. 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. How to Invest in Real Estate: The Ultimate Beginner's G Do I hire? And then I go through and Im like, all right, where am I crappy in each one of these things? 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. 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! And that had to stop too. And the platform itself, your business, whatever it is, is not going to be able to blossom. The blur lasted a little less than 10 minutes, but after that, my eyes just felt funny. Accept the New Rules of Life or Suffer in Misery. And but yeah, thats what Ive been up to. Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice.. 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. 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. 04 Mar 2023 02:14:54 Start shopping! . So we made the decision that we would start and hire one person who could lighten the load for me. Yeah. Brandon Turner Net Worth | Wife - Famous People Today I hope to share that journey with you all via this blog, and perhaps through other forms like video or a podcast. For locals, by locals. It was time for me to step down, bring in partners, and move on from the day to day running BiggerPockets. When I started Bigger Pockets it was, I was teaching special ed. 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. And in that stage, I moved to. 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. Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, and educator. Im your host, Dan Daugherty and today I have a good friend, Josh Dorkin, who is the founder and former CEO of Bigger Pockets. This led to massive burnout and I came very close to quitting and shutting everything down. &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~ The content-rich chapters and corresponding stories of real estate investors give you guidance from the top real estate pros. Maybe not crazier than moving to California to dive deeper into the entertainment business, but I digressWhile I struggled for quite a long time before the business really took off, I was able to live my life on my own terms. Turn a Hobby Into a Booming Business | Real Estate Investing | Blog Josh Dorkin: I thought I was having a heart attack. We took power from those who made information inaccessable by opening the doors and making sure real estate investing knowledge was free.Over the years, the mission to democratize knowledge so anyone, anywhere, regardless of income, education, age, or any other demographic, could learn to build wealth, has resulted in countless lives being changed for the better.Not only have we helped individual investors around the country and work, but weve moved markets.Ive always wanted to calculate the actual economic impact of the business - Im sure the true number would blow everyones minds. It's time to stop just thinking, talking, or dreaming about the future real estate investing can give you. When autocomplete results are available use up and down arrows to review and enter to go to the desired page. Find which one works best for you, your resources . 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). 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. Did you feel, I mean, Im sure you had lots of times where you just wanted to quit or push through. It was brutal. 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. It is always interesting to see what kind of things come up when you search for yourself online. Josh is also host of the BiggerPockets Podcast (80 million . Like, dont do, keep doing things that make you miserable. 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. . 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 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. But the problem is, none of this goes away. 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. 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. No. I dont know, maybe, if I get some encouragement from my friends Ill do it. In my case, the two things most searched are my net worth and why I left BiggerPockets. 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. All rights reserved. We have a guy named Josh Dorkin. Mr. Dorkin's vision for BiggerPockets helped to propel it into becoming one of the top real estate destinations online. the health, for example, instead of like, hey, I need to lose weight. 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. Why I left BiggerPockets is a little more complicated. I mean, you know, you want me to just take it from the beginning or? |8{'t o`7p\2K`0rS%O|>. Z|\ ~kqCi\hPmskwJLP5|/(X.T I was making money, but I was still ready, you know, that desperate to just get out. \"I was working a full-time job making no money as a teacher,\" Dorkin says, \" and then [I] quit that job, reliable income, to blindly create this platform for other people. 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. You know, what are you doing and deal with that situation. But, you know, I now have a formula on how do I get rid of them. As always, I charged on despite my body and subconscious screaming as loud as possible to stop. Right? I had a budget and time crunch, and was not going to be able to get what I needed on budget or in time. Verified account Protected Tweets @; Suggested users 1675 Larimer St. 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. But you know, we were living off the business and it was very scary to go and take on debt because Im very conservative financially, fiscally. You know, I felt like, something needed to change for me personally. I was making money. But, you know, Ive written a book before with Brandon on real estate. From a life experience, it sounds like youre doing the same thing. +TYKqXLfsid| Josh Dorkin's Blog - Joshua Dorkin \"The business really wasn't making serious money for probably getting close to a decade.\"\r\r The story has a happy ending. While teaching, I began to build a directory of resources and a forum which were the roots of todays community and platform. So I know how to do it, I just, I dont know, Im torn. Have you had additional clarity from just taking a step back? Keep in mind that full time in this case means 80-100 hours a week, with no days off, no vacations, no respit. And inevitably, you know, I really struggled through those difficult times. And that ended up it was probably like eight years of grind, that is not healthy at all. And you are in Hawaii now, right? 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. 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. . I was kind of tired, I was kind of ready for the next thing. And instead of working on the business, I was working in the business exclusively. But instead of sitting in my office talking on the phone, every phone call that I had was a walking call. Josh tells his story of wanting to quit, having 3 nervous breakdowns, and eventually selling to a private equity company. Sitting alone in my hospital bed, all I could think about was my girls, Julie, and the rest of my family . And I think the way you live your life, and your happiness is going to be determined by your outlook on that. Dan Daugherty: Well said. 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. 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. After spending an amazing day with my girls, out of the blue one of my eyes went blurry. You know, well be doing great getting, you know, x million views per month on, you know, through search, and all of a sudden, Google will make an algorithm change, and thatll drop 20% or 30%. But, you know, if anybody who tries to grasp these things, theyre so big and scary, well then break it down into little steps. My secret plan to make the girls fans is working! 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. Mind you, in order to survive in business, the pivot is one of your most powerful tools. 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. FHA Guidelines: How to Qualify for a 3.5% Down Loan . But its fantastic. All that really matters is our families, our health, and our happiness. But cool, you know, and you move from drinks to water, you start losing weight. And not difficult. So I want the opposite. I got to be my own boss and although I worked absolutely crazy hours, I never felt the stress of a crappy boss or pressure to act under some artificial timeline. 40.3K subscribers Thirteen years ago, Joshua Dorkin's friends teased him about starting a website that seemed to have no future. I put on my headset and Id walk around the neighborhood and I easily got my 10,000 steps. 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. 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. You know, you can work remote, you can do everything remote these days. You know, with. (BTW - Ill certainly talk more about working on a business at another time). How to Invest in Real Estate - VitalSource The Local newsletter is your free, daily guide to life in Colorado. I was in tears, I was just miserable. I mean, you know, would somebody have diagnosed me with clinical depression? How to Invest in Real Estate - BiggerPockets Bookstore 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. Thanks. Explorer. He later transitioned to building a team, starting with the BiggerPocket Podcasts very own host, Brandon Turner.This later snowballed into more hirings, with the BiggerPockets growing faster and faster, and being able to scale larger and larger. I learned to stop being a cadet and start being a general.', 'life is too short to be stuck in a job you hate. Bye. Find which one works best for you, your resources, and your goals. 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. And I did it without freaking out or getting stressed because doing so doesnt help. Josh Dorkin Bootstrapped BiggerPockets to a Big Exit October 13, 2020 00:00:00 Dan Daugherty interviews Josh Dorkin who founded BiggerPockets in his living room with $12 bucks. Josh Dorkin: So you know, weve always wanted to come to Hawaii. Joshua Dorkin's Podcast Credits & Interviews | Podchaser Zf|Gy}dN1,2,qY\ s#sK~?>#W]CYq~Z6btV37 g)v3[# kG:_jJ/0Cr[-I\7{\t_LkL,K'4'Mm+"Pd60|q!?jO7S9h,P-WwS/. You know what, Im going to get a fitness watch, and Im going to walk 10,000 steps a day. Dan Daugherty: All right. After coming up short, Joshua decided to take matters into his own hands and start his own website. Dan Daugherty: Thats right. Today, BiggerPockets is the premier real estate investing website online with . Welcome to the Big Exit, where we discuss startup acquisitions with the founders who lived it. After two years, I quit my teaching job, got married, moved to Colorado and began working full time on BiggerPockets. 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. 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 had never, I hadnt invested another penny in. 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. 28 Jan 2023 08:21:40 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. For returns, refunds, or the status of your order, you can contact. We launched a book business. For us, it manifested in my little girl becoming neck down paralized amongst other things. Sign up today! Joshua Dorkin on Twitter: "A thought experiment My daughter posed the And, you know, my goal was to figure out how do I get myself, how do I change things? 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. 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.
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