In this episode of the Millionaire Mindcast, we have a great millionaire guest today, Bobby Castro who shares his story of hardships as a young entrepreneur, how he get out of from the struggle, maximize and create $300 million net worth and portfolio of apartments talks about different criteria, and trends of investing in multi-family real estate, his favorite markets he is investing in, and how the power of thank you and relationships served in his entrepreneurial journey!
Bobby Castro is a self-made business mogul, exemplifies the transformation from entrepreneur to leader. With only a ninth-grade education, Bobby founded Bankers Healthcare Group in 2001 with an investment of just $25,000. Through stable and correct information Bobby has built a company that was valued at $1 Billion and created a $300+ Million Dollar Apartment Portfolio.
In addition, he has created a community of happy, loyal employees and has been awarded nationally for that rare accomplishment. He was the recipient of the prestigious Ernst & Young Entrepreneur of the Year Award in 2012, led BHG to be included on the Inc. 500/5000 list 13 times and has been recognized by Fortune, Forbes, Entrepreneur, Hispanic 500, Crain’s and more. He was a keynote speaker at 10X, and has been featured numerous times in the WallStreet Journal, Bloomberg, Smart Business Magazine and CNBC, among others.
This $300 million dollar man has grown from a poor but a hospitality world. His positivity affected by seeing the financial struggle going on with his mother who was a waitress and a tenant. In order to help financially, he was working as a waiter and valet parker at a young age and realizing that he’s in love with cash flow and real estate where he sees the brightness in it. Bobby knows that real estate is in his DNA. Therefore, he stocked pennies to lead up a point where he can starts and working his way up and figured out how to get in the game.
To Bobby, you don’t need to have a huge amount to start with real estate because he started with a single-family apartment type of asset that is cheap. He learned the ABC and numbers from the mistakes and learned never to repeat the big one. Every time he got dividends he would not run to buy Porsche but run to buy apartment buildings and rocks them into real estate.
Bobby sees the market now as fruity with tons of opportunities. At the heart of Bobby’s business, philosophy is a commitment to the community and social responsibility so giving value to the masses. Currently, he is looking to touch people's lives and lift them up a little bit. He wants to teach others how to scale their businesses so they too can achieve better results.
There’s always opportunity in every cycle so stock, stock so when the opportunity comes you’re ready to pounce.
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