Everything you need to know about Bobby Castro Net Worth
Bobby Castro is a self-made business mogul, he has exemplified his transformation from an entrepreneur to a leader. With only ninth-grade education he founded Bankers Healthcare group in 2001 with an investment of $25,000. He knows that the key to scaling a business is leadership. His team from his 18-year-old company instilled in him a positive mental attitude, creating a workplace environment and culture that inspired top-level performance and unheard revenue events. Today Bobby has an estimated net worth of $300 million.
Early Life and Career
- Bobby was born in the Bronx, New York City. His family later moved to Miami, where he was raised. His mother was a hard worker and worked 3 jobs to put food on the table and make ends meet. To help his mother out Bobby dropped out of school in ninth grade and went to work as a busboy.
- He made his way up to the waiter, valet driver at a golf course. He was waiting around for people and serving people.
- He met his future wife when he was 22 years old and he told her that he would own his own business someday.
- Several months later she was pregnant with their first child, Bobby convinced her to quit working and start a business with her. The only problem that they were facing was that they had no money and no plans on how they were going to make it work. They were trying to get rich real quick.
- They failed a lot so they went to work at their own jobs.
- One day he started selling for this new company that basically paired lenders with healthcare professionals.
- Whenever one of his loans went through, he started to get a commission. He went from being a regular producer to becoming the owner of the company when his boss retired.
- He learned to replace himself as the star salesman when things exploded. He had to be willing to hire more A-players and go down in income temporarily.
Business success
Bobby said that you can't be a control freak and that you have to let go and that is what he and his wife did. After that, they started making $10 million-plus per year.
- They took the profits from their business and went all-in with real estate, when the market crashed in 2008 they lost a bit of their fortune.
- But they were lucky that their business was there to save them from bankruptcy
- They learned from their mistakes, regrouped, and started again in 2011.
- They sold one property at a time and soon made a portfolio that was worth $400k or so per month.
- Today that portfolio is to be valued at $450 million.
- They went on to sell their business for solid hard cash of $1 billion.
Data investment
- Bobby said that investing in data was critical to their success. He did not only invest in all shiny things. He did whatever it took to hire top talent. Investing in data helped them find their target audience who could afford their services. So naturally, it would attract them.
He told everyone to focus on doubling up their strengths, delegating their weaknesses, and keeping a positive mental attitude. The last of which is a key in Bobby's business achievements is that he trademarked the Positive Mental attitude. He wanted to be seen wearing his own Positive Mental attitude.
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