Bobby Castro believes being exposed to the right information is what’ll make or break your business. But how do you know it’s the right information, right? There are new experts popping up every day on social media. They all have bazillion dollar real estate portfolios. Or so they say. Who do you listen to? Well, you need to see receipts. You need to make sure they can back up their claims; that they’ve earned it, the hard way; that they’re not just faking it till they make it to sell you a course.
Bobby’s that guy. Despite only having a ninth grade education, he founded Bankers Healthcare Group in 2001 with a $25,000 investment. Eighteen years later, they were acquired for nearly $1 billion. When the dust settled, Bobby’s net worth was around $310 million. Here’s how that happened. “As a kid,” Bobby says, “I was really shy. I didn’t really speak till I was about seven years old. Amazing mother. She had three jobs. We grew up on Rent-A-Center, where you rent furniture.”
“So, a table, a lamp, a couch,” he continues. “And you pay per week or biweekly. And so many times that type of furniture was picked up on a constant basis because obviously my mom couldn’t afford the payments. And I’ve seen that entire struggle so much of my life and, something clicked, and I started this whole process, this journey of leaving school after the ninth grade. Fast forward a little. I started my first business. It was RTC Janitorial Cleaning Services. I wanted to clean establishments after they closed for the day.”
Bobby asked his mom if they could do a second mortgage. On the side, he was painting houses, selling children’s clothes at the flea markets, working as a busboy, waiting tables, doing valet, anything to stack some cash. Anyways. His mom finally agreed to do the second mortgage. That’s where that $25 Gs of startup capital came from. Bobby took it, bought a bunch of cleaning supplies and a used van. And then he just went out and started knocking on doors, one after another.
After some success, that business kind of disappeared. There were other random jobs and ventures Bobby attempted with his brother, but nothing really took off. Then he meets this doctor who tells him he needs working capital. “One thing led to another,” Bobby recalls. “Again, people skills. I was invited to a private retreat with some producers. And my brother Eric and I met an individual, because of our people skills and because we were just so eager to learn and to explore, right—we met this individual.”
“We had a bunch of drinks that night,” Bobby laughs. “Told him some of my ideas about this working capital, this need. And told him about the profiles. He said, ‘Wow, really? They need working capital?’ He was kind of shocked but he kind of ignored it. But I kept following up. And within two weeks, I followed up so much that I sent him his first transaction. He called me back saying, ‘Really? This profile is willing to borrow X amount at this rate?’ I told him yes, we’re ready to fund right now. He called back a few days later.”
Sure enough, the dude had found someone who wanted to buy that loan. And that was the birth of Bankers Healthcare Group. From zero to a billion in under two decades. Bobby credits his Positive Mental Attitude (or PMA, as he’s always reppin’) for driving that unbelievable success. Now he and his wife Sofia are putting their fortune to work for them by investing in multifamily real estate. You can be mentored by them by joining their Group Coaching Program, where you get a 90-minute Zoom call every two weeks. Cost is $1,497 per month or $17,000 per year.