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Josh Dorkin: Man, so Ive started and stopped the book probably 50 times. I want to, I listened to experts on it. I mean, you know, would somebody have diagnosed me with clinical depression? 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. Why I left BiggerPockets is a little more complicated. And that ended up it was probably like eight years of grind, that is not healthy at all. You need to change your diet, you need to do some exercise. Do what you need to do to find your happiness. Find which one works best for you, your resources, and your goals. But, fast forward to where we are today and shes fully physically functional. You know, dont keep doing things that keep you super stressed out. 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. 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. But time and life experience has taught me that doing so only makes my health, relationships, and happiness far worse. We've all felt scared about doing that big thing we've dreamed of doing. And, you know, I think theres a lot of people who are willing to. 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). 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 . Weve replaced iced teas, sodas and juices with water in the last decade, and rarely, if ever will I drink alcohol. I mean, nights, weekends, you name it, seven days a week. 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? For us, it manifested in my little girl becoming neck down paralized amongst other things. So first phase, I call it like that hobby phase. When I started Bigger Pockets it was, I was teaching special ed. 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). But, you know, I think the key was just persevering through those in order to come out at the end. And the platform itself, your business, whatever it is, is not going to be able to blossom. He was wrong. Dorkin, 41, wont be hacking houses anytime soon. But, you know, if anybody who tries to grasp these things, theyre so big and scary, well then break it down into little steps. 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. 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. But I wanted to be healthier. Horrifyingly scary, where I was in my, in the office and I broke down and just I was in tears. You know, we were living pretty tight on what we were making, where we were, as you know, Denvers not inexpensive. 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. And, you know, so I take those moments when they come to me and I try and take bold steps when they come. 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. 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. Keep in mind that full time in this case means 80-100 hours a week, with no days off, no vacations, no respit. I built at my own pace and designed a business with a mission and values that were important to me. Be there for your families. There are few things worse than seeing your child suffer and this period was easily the worst of my life. And but yeah, thats what Ive been up to. 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. And so we said, hey. Josh Dorkin: Well, if you put it that way, it sounds pretty good. Days and weeks of not knowing what was to come with my daughter eventually led to glimmers of hope that wed see a recovery. Lets do it. many things and create so many threats, and theres got to be a better way. Unlike most traditional real estate books, this one wont tell you there is one secret path to real estate success. My strategy was to first pick out the easy items like toilet, vanity, towel bars and hooks, followed by choosing flooring, and finally finding a pre-fab shower that we could just drop in. So I read about happiness, right? Suite 675 Purchases from the BiggerPockets Bookstore can only ship within the United States. 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. Then I got a little nauseous and dizzy with a very minor headache. 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/. 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 spent countless hours caring for her full time - feeding, moving, and working with her to accomplish tiny wins like the movement of a single finger or opening an eye. 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. Oct 2004 - Nov 201814 years 2 months. I wish it would touch more on farmland and syndications a little more but those could be considered more niches. Just Released: Two NEW BiggerPockets Books to Help You Build Wealth Through Rental Investing . We always wanted to be, you know, in Hawaii and Colorado. After coming up short, Joshua decided to take matters into his own hands and start his own website. 5280 Publishing, Inc. I kept this pace up for over 8 years . something that I used to think gave me hustle street cred, but today I realize was just a formula for burnout. As always, I charged on despite my body and subconscious screaming as loud as possible to stop. 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. Dan Daugherty: That is, as you know, I have two little ones of my own and that is, that changes everything, and Im glad that you priorities that over anything else. As of February 2019, Amazon has raised $124,651,081.04 for charities through this program (Source Amazon). Cool. You know, thats, surprisingly a significant boost to your health. 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. 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. It was a blast, but by year 12, 13, 14 my job changed. The days of building product, building community, marketing, growth hacking and being creative were replaced with days managing people. Is it all the material stuff? |8{'t o`7p\2K`0rS%O|>. Z|\ ~kqCi\hPmskwJLP5|/(X.T 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. So, in 2004, Dorkin launched BiggerPockets, a website for real estate investors to ask and answer each others questionslike a Reddit for property owners. 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. and they hold the #1 real estate podcast on iTunes. Dan Daugherty: Ah, I love that. And I had to step away, I had to step away from the company, in order to take care of my family. Founder BiggerPockets. But that's OK. Yesterday that reality came a little too close for comfort for me. Ive always followed the same mantra - work hard, hustle, grind. And so that ultimately led to diversification of the business. I remember you and I met, it must have been like, what, when did you found bigger pockets? And you know, continue to love Bigger Pockets and love how its impacting peoples lives. 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. Where previously competitors were weary of one another, we helped people learn that coopetition was a better model - one where people could compete AND cooperate for mutual benefit. What's my secret? 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. &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~ 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? I was kind of tired, I was kind of ready for the next thing. +TYKqXLfsid| But did you, were you ever really depressed at all? 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.
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