The Local newsletter is your free, daily guide to life in Colorado. And its not healthy for any of us, it really is not. You know, we were living pretty tight on what we were making, where we were, as you know, Denvers not inexpensive. But yeah, what else you got? Came to be ready to quit and like told my wife, hey, Im ready to sell the business. Brett Jurgens Talks About Building and Selling Notion to Comcast. 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. This keynote speech goes deep into what really matters most. And so I, you know, on the side, nights and weekends, while teaching, for the first two years, just started building this platform. 28 Jan 2023 08:21:40 And that ended up it was probably like eight years of grind, that is not healthy at all. Just Released: Two NEW BiggerPockets Books to Help You Build Wealth Through Rental Investing . I mean, nights, weekends, you name it, seven days a week. It was time for me to step down, bring in partners, and move on from the day to day running BiggerPockets. 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. But that's OK. I eat well - seriously cutting back on sugars, eating lots of fruits and vegetables. So I read about happiness, right? That's 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. 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. But did you, were you ever really depressed at all? Dorkin, 41, wont be hacking houses anytime soon. We grew the platform and its offerings. Weve climbed mountains, traveled, explored and journeyed, surfed, skied and have never stopped seeking out a full and rich life. 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. Its unlikely. And so within the business itself, you know, hey, I mean, you used to work at Google, you know, as a media company, Google would change your, Google changes their algorithms all the time, as an example, right? 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. We came to Hawaii, weve been here since July. 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, 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. As the message board gained a following, Dorkin quit his teaching job, moved to Denver (for quality of life reasons), and focused on the website full time. So first phase, I call it like that hobby phase. Like, I mean, you wouldnt know the difference between her and any other kid. Suite 675 I mean, the very first early years, you know, I had very little support outside of my wife, you know. 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. We always wanted to be, you know, in Hawaii and Colorado. Do I hire? But time and life experience has taught me that doing so only makes my health, relationships, and happiness far worse. Was it 2009? +(((Bp3G' $('4 )GNh!NA< But he came in and was instrumental to advancing the business. 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. 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. As you know, Im like a scrawny dude. All that really matters is our families, our health, and our happiness. My secret plan to make the girls fans is working! 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. We're confident in the quality of our books. Where else can we dive into this? Why I left BiggerPockets is a little more complicated. But, yeah, no, its been a very, very long journey. Not the way I wanted to spend my Saturday . Right? And the platform itself, your business, whatever it is, is not going to be able to blossom. You know, thats, surprisingly a significant boost to your health. But Joshua Dorkin is creating an online empire. And particularly, I think the most stressful part was, I was by myself, to your point. Josh Dorkin: Absolutely. We launched a book business. Instead, Joshua and I focus on the harsh realities of growing an digital empire.\r\r Enjoy!\r\r \u0026nbsp;\r\r You can find more information in the show notes at http://podcast.affordanything.com/episode99 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. Post close, I joined the board of directors, but no longer was involved in the day to day decision making at the company. Choosing a selection results in a full page refresh. 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. By the time I exited, we had over 40 full time employees, and around a dozen contractors - close to sixty people working for the business. Joshua Dorkin is the founder and former CEO of BiggerPockets, launched on October 22, 2004. This led to massive burnout and I came very close to quitting and shutting everything down. Like, dont do, keep doing things that make you miserable. I put on my headset and Id walk around the neighborhood and I easily got my 10,000 steps. FHA Guidelines: How to Qualify for a 3.5% Down Loan . It was just another thing I needed to do. Theres a lot of, you know, Colorado just, you know, still a lot of chaos. Joshua Dorkin Oct 2016 Mar 2021. 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. Joshua Dorkin is the founder of BiggerPockets, as well as a serial entrepreneur, investor, podcaster, publisher, and educator. 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. 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. I could still make things out, but barely. Make sure youre doing everything you can to live your best life. 5280 Publishing, Inc. Joshua Dorkin Dec 2015 Mar 2021. His wife and three daughters wouldnt take too kindly to sharing their space. Julie was in California and I was home alone with the girls. Did you feel, I mean, Im sure you had lots of times where you just wanted to quit or push through. 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. And my idea, you know, was one where, you know, VCs and angels thought it didnt have a chance. Days and weeks of not knowing what was to come with my daughter eventually led to glimmers of hope that wed see a recovery. doesn't own much property. because I felt that I had to succeed, and because in reality, I was STUCK IN MY BUSINESS instead of working ON MY BUSINESS. And in that stage, I moved to. Dan Daugherty interviews Josh Dorkin who founded BiggerPockets in his living room with $12 bucks. 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. How do I hire? Thank you for the stories and the insights and the tips. 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? It is big enough that youre not doing everything, but small enough that you can still get your hands dirty when you want. . Our friend had come over to help out and I was going to rest while she watched the girls. Everything came back clear and they released me. I dont wish it on anyone to go through what we all went through, but it gave me the time to really think about life. 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. 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, and educator. And I suppose if I had enough people saying, Yeah, Josh, you should do it, for sure, I might jump at it. Josh Dorkin: Absolutely. This was not like, something that everybodys like, Oh, this is going to be the greatest thing since sliced bread. So, you know, the decision was, do I raise money? And instead of working on the business, I was working in the business exclusively. Why I left BiggerPockets is a little more complicated. 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. We engaged an investment bank, initiated a process, and ultimately found ourselves at a successful deal with our aforementioned partners. Explorer. I move daily and if not for some nagging injuries, try to get in intensive workouts 5 days a week. 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. Will I get more wet if I stay still, walk or run, and why? Doing so otherwise would leave me a nervous wreck. Let me know what you think and please share this if you find it valuable! 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. serendipitous mindset, but you also need to understand who you are. 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. That was all I was allowed to do on Wednesday. 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. I dont know, you know, I certainly have my own unique and distinct perspective, like anyone else. In 2006, Brandon Turner got married to Heather. But, you know, I now have a formula on how do I get rid of them. . He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it . 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. So, I thought there had to be a better way. Yesterday that reality came a little too close for comfort for me. I thought I was having a heart attack. JOSH DORKIN: But it gave me the time to really think about life. Because, man 2020, nobody feels good anymore, man, we dont feel good anymore. Josh tells his story of wanting to quit, having 3 nervous breakdowns, and eventually selling to a private equity company. Dan Daugherty: How long have you been in Hawaii with the family? These facts can either break you or teach you that you simply have no control of things beyond yourself. Im 43 and I know Im not a kid anymore. How to Invest in Real Estate: The Ultimate Beginner's Guide to Getting Started is written by Brandon Turner; Joshua Dorkin and published by BiggerPockets. Horrifying, scary. COVID you know, your kid gets sick. 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. 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).Youll hear how Joshua was cranking out 100 hour weeks, working 7 straight days, for the first 6 years of BiggerPockets existence. 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. 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? This terrifying situation broke us, but didnt defeat us.