BOBBY CASTRO: From Broke & Dyslexic To $1 Billion Dollar Business & $300 Million In Real Estate!👫💵

hi I'm Bobby Castro and I'm Sophia Castro and we're passing a few you know in this interview with Omar you're gonna get a lot of value you can actually see how we were able to start a business with absolutely no money we sold the business for 1 billion dollar valuation and during the same time we were building a real estate portfolio of over 300 million dollars this interview has so much value pay attention to it tune in it more so share with others ma'am - Sharon is simply caring yeah and I'm so glad that I was able to be in this interview to be able to give you the knowledge that we have on relationship on being entrepreneurs and how we were able to get through this from zero all the way down to all the way up to an a billion dollar evaluation company thank you so much Omar for inviting us on your podcast really enjoyed it and then three years later Sophie and I exited for a billion dollars our last 17 percent it was a hundred and seventy million dollars all cash all three were all cash no no hole back no that's always [ __ ] all cash the power get so freakin fat the power of information hey guys welcome this very special episode of the passionate few today we have on a power couple none other than Bobby Castro and Sophia Castro to share their amazing story are going from rags to riches but more importantly sharing the insights on how they built a successful relationship and how they've literally gone from rock bottom literally humble beginnings to not only build a company to a billion dollar valuation but have over three hundred million dollars in real estate assets that are cash flowing and today we're gonna share their story so thank you guys so much if you don't show today Bobby thank you and Sophia thank you so thank you for having us here and you guys is a beautiful abode here in the Hollywood Hills I wanted to ask you guys first and foremost you know you guys have been married with almost 30 years now yep so talk to me that about you guys where you guys grew up and how you guys first met early on well I was born in the Bronx in New York and my mom had me when she was 27 my dad was 50 had about 11 12 kids at the time and we migrated to Miami so I was pretty much raised in Miami all my life beautiful mother she's here today with me she just turned 80 years old and my mom was a waitress her entire life practically her entire life before Denny's eye right now it's called Denny's and we all know what Denny's is it's a place where you go and most of the time you go at 5:00 a.m. maybe after a wedding or maybe the party and that beautiful waitress who waits on you man yeah that's my mom so she did dad gig it's called the graveyard shift when she got done with that she walked home because there was no car to drive home and we lived close to the restaurant she worked at so my mom walked home about three four hours later start preparing for her second gig at another restaurant and my mom lived on the couch oh wow as far as I can remember and then when she was done with that second gig she went home rest up for about two three hours when again to another gig the third gig at the rowing club Steakhouse in Miami Beach she had two full-time jobs and a three three full-time tree waiting on tables providing for her three boys and my mom my dad am amazing he passed away when he was 94 years old Omar about maybe seven years ago or so started very passive a huge introvert you know wasn't really as motivated as maybe myself so they stay beautiful they stayed together really for myself Eric and Kevin for the kids my dad lived in one room my mom lived on the couch and but they did a beautiful job with us and I think they stayed together because of us and I see my mom struggle practically you know my until man all the way through man and I didn't enjoy that struggle at all it actually bothered me and I left school after the ninth grade I failed at the third grade because I wasn't good in comprehension and I'm still not so sometimes when someone asks me a question I have to repeat the question or modify the question to make sure I understand the question yeah so they thought I was a difficult child I was in I behaved well and I said mom I want to leave school so that's when I left school the ninth grade back then it was junior high she let you just high school yeah I dunno no push back it's like my mom knew something that I didn't know yeah and she maybe have figured out this is our way out I don't know and it gets a little crazier in the story too but practically I grew up to Mike in Miami anything was Sophie yeah it was I was born and raised in Miami also my parents are Cuban they came from Cuba back in 1959 and I was born in Miami though we were both raised in the same city and we didn't even know each other and we ended up I come from a very low on family too my father worked three jobs my mom didn't work because she was we had five kids in the house so it was not affordable for her to go to work to go pay for somebody to take care of us so she was a stay-at-home mom and real quick Bobby I know he had 15 siblings right yeah yeah so my dad had many children before he met my mom yeah my mom was 27 my dad was 50 he was definitely a player he loved the ladies the ladies loved him and there was a lot of personalities growing up like that a lot of passion I call it a lot of chaos so you guys both grew up in a lot of that yes yes very same background type of thing and so when I also dropped out in tenth grade though before you guys knew each other before we knew each other we went to the same schools but at he's four years older than me we never really ran into each other but we knew the same friends yeah friends but we never knew each other at all semi common to drop out in that area nah I don't know that's a great question Omar I'm gonna say maybe it was because you know we lived in an area that maybe didn't have much opportunity we were exposed opportunity so I don't know a great question I would think the stats are pretty high I know my friends not my friends finish school so I'm not sure that it was I don't imagine the first date where you guys ahead dropped out of ninth grade I dropped out of grade never really talked about it all right because I guess maybe it was common because it was never yeah I don't know why but you know I had dyslexia um and didn't know it I didn't find out that I was the select this ethnic until was my mom that I was teaching my daughter how to do homework and I noticed that I was writing my numbers inverted and so forth and I used to love math at school and I couldn't pass this that great that would kept on failing and failing and I was like you know what I need to go to work I wanted to buy a car and my parents couldn't afford to get me a car cuz I didn't have money that five kids and you know so I just said you know what I might go work and go get my own car and I used to I still do I'm I love clothes I'm like a freak of shoes and clothes and I wanted to buy things that she couldn't afford and so I went to work and she also didn't my parents didn't give me no pushback also they just told me if you're dropping out you're going straight to work and I said yes what I want to do I want to go buy my own stuff and so we did and we we met when I was 18 years old Bobby was 22 in Miami I'm on a real famous road that's called Lejeune it's a road that you need to get through it's a main artery do you guys remember the first time ever yes communicate what happened yes Allah say my story yeah it has a different version of it yeah I was a stud yeah I was working I was working on the phones selling timeshares to folks outside the country that was interested in selling their time shares so one of her friends were working there she was a secretary so one day I was running super late for work it was a night shift so we would you know I I worked I did a deal or a gig in the day at night it would work at this sales center so I was running I parked I was running running to work I was running super late and I heard a bunch of beeping the horns and I just ignored it so I ran in and then our friend comes in hey I want you to meet my friend I said no time I just got here me I'm gonna get fired you leave me alone so I went out ran to the driver's side and the girl there says wrong chick man you got to go on the other side she's on the passenger side so I ran on the passenger side and I'll never forget Sophie had this hair you know a beautiful just and I'll never forgetting the biggest smile and that was the first time we met and then two weeks later we went out for a date but that was awesome she was they know not right there we were supposed to meet at a place that everyone goes in the grove Coconut Grove but we never connected and then so you asked her out when you did get it so we two weeks later and we went to the beach mighty Beach I asked her out and I brought in a bottle I brought a bottle of wine two glasses and you take bear you take some you know what is the intent here yeah but it was all good intention so I go to the beach pour the wine and I asked her during the conversations can I give you a pop kiss and she looked at me yeah give me a pop kiss and I gave her a pop kiss and that was the end of that we conversating I didn't know she had a curfew Omar yeah and she never told me she had strict parents so we want to get in back at her house at hours late she's running out and I thought that maybe the mom and I must be a big bad terrible turn-on because she's running out of the car yeah so she's running out I hold her just softly I said you're gonna be the mother of my children I'm gonna marry she looked at me like saying just she Raney the fast that was the first day yeah yeah and I thought he was crazy and I called my friend that day I was like who did you introduce me to even though that I was the one that asked to get you know to introduce because when I saw him walking in I had asked my friend I'm like oh my god who's that guy and so she told me that's Eric's brother cuz I knew his brother's girlfriend really well which she was in the car with me yeah and they said that's Eric's brother and I'm like damn can you guys introduce me before but he had had a girlfriend for five years and and he was a player by the way he had a girlfriend and he was a major player so they were like yeah and so when he came to the car we got introduced like he said and then that day that he took me to the beach I thought oh he's coming mother bottle of wine and he's taking me to the beach another highly a guy because other guys in Hialeah Kuban and they're like the same they're like want to get in your pants right away and you know something like oh god here we go another one okay but he was super like you know proper ask me to kiss and I'm like I have never been past can I give you a kiss and I was laughing what's the pop kiss just like I'm the you know yeah I was like okay um so when I got dropped off and he did that to me I was like oh my god this guy's crazy I mean like this is really weird so I called my friend and I told her and I'm like I don't know what you did but this guy is really crazy so you know I ignored it and we were laughing about it and the day after he called me again to see if I wanted to hang out just not to go out just to hang out and we did and ever since that day we've been together since that day that we went on the first date yet and then talk to me later about that time did you have the premonition to want to build a big company want to build a big business where you hustling multiple jobs so there were some jobs that you turn all hospitality Oh Mart like my mom my mom and we used to iron Eric and I her apron all those three jobs those shifts so we knew the deal about hospitality and in hospitality if you really want to maximize the opportunity you got to have good people skills because my mother was fighting for that 18% tip and the only way she'll get that 18% tip good experience good service giving good value so we knew how important it was because we grew up on Renison in her rena center means this if you don't have enough money to buy a bed a coffee table a couch jam and you have bad credit that was all us you rented by the week and it was I'll never forget this and it bothered me because every time every week it seemed like they were picking up furniture and then my mom was struggle right post-dated checks and they told her stop the post any checks it doesn't work no more either give me a money order or don't call us back they were picking it up redelivery constantly that in a in a very consistent manner because my mom was struggling man and her dad wasn't like that was he's so beautifully was passive you know my dad and I think that's where I get some of my my kindness from ism is my father my father had me when he was 50 and that 62 years old that means I was 12 years old my dad decided to retire it was back then you can get your first cash in if you decide to retire to 62 years old so my dad retired and didn't get a job even after that I just retired and he was retired ever since but we were struggling financially so I didn't understand it it didn't make sense to me and mom was working three four yeah and my mom I do get the the the the personality and this this this hyperness from my mother and when you meet my mom you'll see it instantly so I started being that busboy at 14 years old I'll never forget that I was so excited my mom bought me the white shirt buttoned down was everything we can barely afford he was that Kmart we wanted to pay less we got the shoes I was so excited to this moment that's still my WoW moment I was the best takeout person and I was I was obsessed to being a busboy because back then you had to be 16 years old to get a job if if not it was illegal back then but but squally the owner Pasquale's it was an Italian restaurant he did my mom a favor so I worked my way up to a busboy and then never looked back I was a waiter I was always a good waiter as a valet park I worked on the golf course and I was always waiting on people and serving people that apparently did well you know you're working there on Wednesday and someone's showing up to play golf at 11 o'clock in the afternoon in the morning it's like what you're not working yeah I mean they just even have more wealth than the I was a Cadillac some of them were not nice but the ones that were nice give you five minutes of some stuff and you were asking some questions and they would give you a maybe that today was done just beautiful people and that's where I picked it up I said you know there's some sort of success here and I from that financial struggle I didn't want it and I'm gonna say something sensitive my mom always and I said it on many podcasts already and I'll say it again right now it was like I want to be transparent to anybody who's listening in this the reason I did well I didn't want to go back home was when I went back home there was nothing but chaos and a lot of personalities I call it passion just dysfunctional stuff no abuse no sexual abuse not it just there was a lot of incoming traffic not a chaos a lot of chaos and it bothered me and more so we lived in a townhouse in Hialeah and white socks at Kmart now I'm gonna say it because this is this is I'm about giving values that's a stage in my life right now I'm a giver we had to wear white socks all the way up to your knee the reason we wore white socks man our house was festive with fleas Wow his mom is passionate about dogs so there was no so I was bested with fleas we couldn't get the darn fleas out of the house yeah and meaning that if you leave your bed and you go to the restroom it's literally a sprint with the socks and by that time you get there I kid you not covered with dot and you take them off you shake them it was a constant process so you're pretty bad I loved going to work to be outside of the house right yeah I realized that later on in life because every time I went back it was almost a negative aspect and that's where a lot of this positive mental attitude PMA because when I went back to work it was affecting me at times because I was leaving but I was getting relief by going but coming back I was so the more I was away from home the more you know so I think there's maybe a little situation going on there yeah yeah but um mass of fleas man massive fleas my mom says I can't believe you say this but clean person and it was nothing it's just a whole neighborhood was festive with it in our yard we lived in the side we had dogs yeah man but when I met Bobby the that first week that we kind of met he totally just told me I'm gonna be my own boss I'm gonna own my own business so I just want you to understand that you know where I'm going and I this is what I'm gonna be doing and I was like okay I didn't even know anything about business to me my family had no clue and even though I had a brother that owned a business back then but he lived in New York and I really didn't I wasn't involved in the daily knowing what a business or entrepreneur was so when Bobby told me that he was 22 years old and he's like I don't know how but I'm gonna be my own boss I'm gonna own my own business so and like six months later right before I got pregnant um uh I got to that one but like two or three months into the relationship he told me why don't you like stop working and let's try to open a business and I was like to get yeah I'm like I have no clue of like what business is or whatever but I said okay I mean there was no business it was just manifest in a business yeah and he just um and I had bills I had to pay cuz my parents couldn't afford to pay my bills so I said are you sure you know he's like yeah we'll figure it out let's do this and um we did and we opened the little business that was like a almost like a Kraig for this I want to say very similar to a Craigslist but back then we didn't have internet we didn't have the resources or the finance strength to be able to fort you know take that business any further so we had it going for like probably like I don't even knows we failed we failed many times because what we wanted to do Omar we didn't want to go through the process looking back now we didn't want to go through this process we wanted to skip the process and open a business without any information without any dominum they're gonna go from A to Z instead of A to B we kept doing it kept doing it out of desperation and finally we just got exhausted we kept failing family and failing and then we started ponying up meaning we started getting jobs I started working at after massive major mistakes working out the rusty Pelican Key Biscayne in Miami it's a famous restaurant even today as a waiter during the day I was selling memberships for the Better Business Bureau Sophia was the ultrasound tech she went to some medical office school and or text you know doing all that and this is after a couple businesses is after yeah like a major major hurricanes tornadoes wasted energy was it was it one business that you kept failing at or did you guys know what I list off a car Craigslist we try to do we saved up $10,000 Eric my brother myself and Sophie like you take this is great I'm glad you brought this up we I was obsessed with business opportunities because I you know when you get the tag become a millionaire make a hundred thousand dollars next month I was it was a magnet I was I just couldn't get away from it these these tag lines and I kept going to it so and one mistake I went back to it again all our life savings we invest in this ten thousand dollar business opportunity and the business opportunity was that hey you go to and it makes sense you go to a tenant at an office building and hey how do you how many square feet are you paying in rent well five thousand square feet well how do you know it's five thousand maybe it's 4900 they should owe you a hundred square feet of credit that credit and if we are able to collect it from the landlord we'll split the savings 5050 that we get a percent of it yeah okay so we buy it all three of us are sitting down who's gonna go for the course the seminar it's a weekend seminar you go he was out of state I mean this was big this was like a big board meeting we're so jacked up yeah this is the vehicle yeah this is the mother lode this is gonna take us into the Holy Land after so many mistakes man I found it yeah we found it and everyone thinks it's an industry a product or service the sauce is you we need to know that so we determined Bobby is the one that should go to the seminar to get it we did or Bobby we were like trying to see okay who's gonna be the best one to go who has those I'd like to ask questions and ask questions you're able to learn and pick up sign I go they pick me I go fast forward the weekend finishes I get back home pick me up the airport I said guys we are gonna make so much friggin money this is so my god we are gonna be rocking it what so tell me tell me yeah let me send the story tell me tell me oh my god guys this is so amazing okay what do we do guys it's unbelievable I didn't learn nothing because there was nothing to learn I bought a package I came back with no information because they were wowing me with a flash the whole buzz as and and that's one thing on social media a lot of people are stuck with a flash and all that there's no information cars and all this so I came back with just full excitement my brother goes I get accounts it turned out to be a homicide scene everyone goes together their job Aaron goes his way we go our way she doesn't even try that you know we tried it it all we tried it there was none customers there was nothing to it wasn't so fast forward yeah he crushed us it broke us yeah we go back well we know what to do get back start working get back start working that and we did make a couple more mistakes even after that I'm waiting on tables on selling the Better Business Bureau I'm selling memberships to businesses she's at the Medical Center finally that that side I I looked at a classified ad okay I and I responded to a classified ad what did say some magical make a million something like that but simultaneously I got another classified ad three more classified ads I bring it back to the board guys I think I found some stuff here and the board is your wife and your brother at that time it just no it was just my brothers yeah no mas she was like I'm done I don't trust you so I put three of them out and at this time I started been into my relationship my life partner that has my back with nothing but good intentions she wants the same outcomes I do I started now saying something what do you think and stop being the smartest person stop being reactive and I started saying man what do you think because I've been striking out she pretty much picked this business and we'll get into that she goes this looks really interesting simultaneously I was selling a membership to the same company that was offering this package Oh quintessentially yeah Oh awesome there you go so and I'd you know that I go there I'm pitching the membership simonsayz a package by tell him it's the package a I also got one of your packages he goes I'm gonna do two things I don't buy this membership which I don't believe in the membership I think it's worthless but I'll buy it under two conditions you go ahead and buy that package I'll give it away I'll give it to you for $1,800 but I want you to start selling for me so I said yes I'll do it that was a game-changer that's the same business we sold that led us to a billion dollars today our personal net worth of 300 million dollars three hundred million dollars more in cash flow in assets and the list goes on and the reason I want to stop and pause for a moment the reason it worked it wasn't a package it was in the industry was in the product we were more prepared when an opportunity comes and you're prepared magic happens we started really learning from our mistakes and stopped thinking about it was fast-track and knowing that don't set ourselves up set your expectations forget about the million dollars let's just see we can replace the income from our jobs so and I still worked on two jobs waiting at tables you shrunk your goes to more realistic ones that's where the stage wait are they getting more knowledge - he started we started research although they're being really realistic yeah extent yeah knowing that hey we're at this stage and I am looking all in here and doesn't has no revelant Omar to where we're at so it started working and then it replaced the Better Business Bureau then I started selling in this business financial services and what were you going to get waiting on table specifically what is it found service for healthcare the health care community okay so if you need a piece of equipment an x-ray machine or an ultrasound a copy or whatever you find the business owner and these lenders want to place the money the lender will pay us a commission when it's funded but I became very good at it my confidence started getting really good at it in my people skills improving greatly where I started saying you know what the power of listen is so much because sometimes when you don't allow someone to speak and you interrupt them you may be missing a golden nugget there and I started learning really quickly and of course we had our daughter so I'm going fast here and and our daughter was a major game changer it became very real power you and I was 19 and he was 23 when we had our daughter so by mistake it was not planned so the failing businesses were happening right when you guys went right when you got pregnant we're boyfriend/girlfriend and we've been together for 30 years man this isn't this is this is everything I have in life so I was having a baby at that time I catalyst like [ __ ] I really oh yes I became serious I remember my wife and Priscilla they were in a used car her her parents we lived with her parents for a long time dude and they got Sophie and me a car something they can afford and it was it was a cleaner or whatever it was no no a fee no AC and in South Florida a lot of humidity a lot of heat and I'll never forget I came out of Dixie and Pedro's house we were living there Sophie was picking me up for some reason she was with Priscilla my daughter my baby girl the windows were down and she was in her car seat she was redder than a heart because it was so hot and she was sweating like galore for some reason it was always there but for we were always sweating like that but for some reason when I was out looking in I I was just so disappointed with myself saying I got to stop bouncing and I got to start sticking and that business we took off man we it took off one employee at a time I didn't I was so I almost fell victim so many times to premature expand it and I did him I said when did you go from selling to starting your own though where was that transition pretty much six months just six months and you thought well [ __ ] him a good agent the gentleman retired okay his two older sons they were in their fifties he was really old he lived in a neighborhood which for you guys in California is called Beverly Hills for us this was a night neighbor in South Florida and I used to drop him off because he couldn't see and I used to I used to dream about I said one day I'm gonna buy a home here why but I want to buy in four homes yeah that's amazing years later and I know you used to tell Sophie and Sophie mentioned this earlier before the interview that his goal was always a billion yeah once we started the that billion dollar go started when we opened up this business he kind of saw the you know the scale opportunity of this business and he always said if we reach a billion I want to exit and and then I would see yeah but but then I started learning even another mistake I was doing I was I started and I brought my brother in I said Eric fifty-fifty dude don't give me no money because I love my brother he's everything and vice versa and he came in he became our partner 5050 we rocked we went rock and rollin she was a funding coordinator barbi Eric's wife was the funding coordinator erin was in operations and I was in sales we did that for a number of years maybe three years to your family really the executive staff kind of yes us for it's just us for and then we start expanding bringing on people but I was always the number one salesperson and I was always responsible for the numbers and I did that for a number of years in this company so you're the CEO and selling I was a president yeah and I but and that's where I talk about building an enterprise so I wasn't given the value to the company because it was all about Bobby's potential if Bobby goes on vacation number goes down as good huh and it's not healthy then when I started waking up and started listening to people including my brother this and AB we started expanding making other successful hiring a better Bobby version start is bendin surrendering duplicate in it duplicate in myself it took off like this Hawaiian wave and we just kept feeding it feeling it groaning with people scaling with people and then it became our customers where our people because our people were talking to our customers and then we a culture that's unbreakable today how many employees did you guys I exited six seven months ago and when we exited we're 500 employees I don't yes but talk to me I want to zoom in on the key employees in the beginning because I think a lot of people get to phase or they start building a team and they get hung up at scale right it's one thing to be successful yourself at what point did you remove yourself as actually the person selling and go okay from now on I'm not going to sell anymore I'm gonna focus on training I mean to take me through what now might be not a big deal to you or so long ago but take me to an entrepreneur might be at that position where you're bringing on your first key employees you're bringing on your sales reps what I look for when do I let him go any insights on that yeah you have to be willing to take a hit on revenue net income it will be an interruption because when you're so it you're a dominant force responsible for revenue and you're the top producer and you're the owner and you're flying this plane that's 30,000 feet in the air and you have accountability of some employees overhead it's such a hard transition to say I can't lose money if I lose money it's gonna affect my pocket that means I'm not gonna make $250,000 this year be willing to have interruption be willing to take that hit and rebuild with better versions of yourself I didn't do that until about eight years ago just recently dude so being unafraid to pay the best to fill in those because once we took the hit and we said you know what yes it's gonna be an interruption there's no question about it and it wasn't a big interruption but most of us think it is it's just a moment in time so so attack the white elephant that big elephant that's in the room that don't want nobody wants to confront or deal with it because we're just winging it along but in order to scale because if you have a business I don't care what type of business you want to make sure your efforts that you're doing today say you're making a million dollars a year it's worth nothing if you can't sell it if it's not worth nothing to the market right so unless that means and you have you can't be the control freak you gotta let go you gotta bring people in to help you scale and show that this company is callable without your leadership or your face yeah you know a lot of people it's all i me me me me iiii you can build a business you cannot sell a business like I did and Sophie did for a billion dollars you cannot create a 300 million dollar personal net worth we bought real estate throughout the years when we started making money I mean when you start making 10 20 million dollars a year it's equivalent to making even a hundred thousand dollars a year what do you do your pennies and your money and Sophie and I were smart enough to start racking it we call a stacking rack save your money rack them into investments when you see value then what we did Omar another mistakes another mistake in O five Sophie and I were doing seem like we're doing quite well for herself financially man we did it daddy man we're doing it couple million but all five is around everybody was talking about real estate just like now we're in 2020 everyone thinks they're missing out on I couldn't get in I gotta get in get me in that was us well we got in dude we bought eighty million dollars yeah we bought eighty million we overpaid we thought they there were great deals like everyone thinks a great deal today you're overpaying file we overpaid and we over leveraged ourselves in a very frothy market oh [ __ ] before though a yeah [ __ ] came crashing down that business that I lost my attention to and I got distracted with this real estate situation I neglected my business and that business bailed us out of that mistake because we started up here when you start up here you miss a lot of information if I if I knew this information I wouldn't ever bought there you swung a little wild on the real estate I didn't try I tried to do what I did years ago skip the process and I had no idea we're in the height of the market it's got that business that we sold for a billion saved our rear ends bailed us out never again ever again yeah we went back in the market in 2011 we had a little coin we rebuild ourselves I knew a lot more but I didn't start here we didn't start we bought one home two homes 17 homes went from 17 homes okay we're ready we have information now we know more or less that the back and forth we have bought a duplex yeah no exaggeration tripe triplex four by five Plex six Plex a Plex 1012 so on just steps to the point where our last purchase was just a few months ago four hundred units and we built it and yes we're cash flow and call it 350 to 400 thousand dollars every single month for me and my family Sophie our family no tax implication on top of the business on top of all and forget about the other business I said that was a nine figure net worth we earned and we earned another nine figure net worth in real estate and well we did that we started small and we started learning all this stuff it started compounding the strength of bona fide information man that's powerful a lot of people right now think that you're missing out what you're missing out is not getting the information in today's cycle and if you don't know this process and you're playing that game at the height of the market you two are gonna get damaged and I see a lot of people over leveraging themselves thinking they got a deal so man we learned so much and and what did good for Sophie and I learning from the big mistakes of small mistakes those speed bumps they're always gonna be there right the big ones if you don't repeat them you can really get rewarded yeah that that um episode that we went through in 2005 that it lasted like two to three years because the problem was we bought eight big buildings that were apartment rentals but they were turning them into condo conversions I don't know if you guys had that condo conversion steps here so that that process took almost a year and a half so we were in the market of the worst time of you know real estate in Florida around the world but what we learned in that in that whole process we almost went bankrupt thank God for BHG because if it wasn't for BHT we talked to a baby we wouldn't have been we wouldn't have been here today but we were able to survive it but what we learned there it was because we had to keep a couple of the buildings that we were we did we've got at the table too when we got rid of them we we were go to this closing table with millions of dollars at closing instead of getting money in our pockets we were coming at the closing table here take this junk take it we don't want it whoever wants it here you go but what we learned there was with the buildings that we stayed with we started renting them back out and we were like and we really didn't know the the rental market market we only knew you know buy and flip by you guys for dinner you know property management reported we couldn't afford it back then we had to like you know jump in there I actually jumped in me and his brother kind of took over that department and Bobby went back to bhg to get bhg back up going because it was it wasn't doing bad but it was just steady it was just not going nowhere so Bobby jumped back into speed G to get that going again and me and his brother kind of went into the real estate and try to get that going too so that we wouldn't go into bankrupt but what we noticed was like hold on a minute we're renting this apartment and we're able to at least cover the notes that we you know we had dead on these and high debt I mean we went and bought these properties that I loved high leverage so we're like okay dammit wait a minute we're renting these things and at least we're covering some of the you know it's the property vault of your loan company yes because of the vacancies we were like it was amazing we were buying apartment buildings Omar renovating them chopping all of them up into condos and resell them as condos speculation we decided after learning from that we want to hang out to properties forever we never want to be in that situation again I'll rather buy an apartment building conservative leveraged cash flow from day one and treat it as a legacy and we'd never stop since then never stop since then what was the lowest point in whatever 2006 7 8 what was the lowest point financially where you were like holy show when we we were when we interviewed a bankruptcy attorney that becomes very serious when because we were we were like saying we're there's no way we can get out of this and then we didn't realize how special this company being she is my gosh it could probably eat us out of this and sure enough all along she was there man she's always been taking care of us that's why I'm so freakin emotional about leaving it's always taking care of us it's like the angel above looking after us and it just continues to save us and you know we just went right back in our business that's where no distractions comes from enough Bobby stop getting distracted I know I'm a TD HDD whatever they call me and I am every bit of it and I accept it and I love it but start focusing now yeah Bobby didn't look at real estate from 2006 I think it was r2 2006 2007 sometime he didn't look at real estate until 2011 that I begged him to because I was looking at all these foreclosures that I was able to get for $49,000 $29,000 I'm like please let's go back and we we had to building that were giving us you know rental income because of the 2006 episode you had built up to cash but but it wasn't really giving us money because we bought it so high and our leverage was so high that we were just trying to just you know come afloat just cover bills just that the expenses but in 2011 I begged them I'm like please look at this and I did we talked about communication and relationships I was so negative with it I said I was so obsessed and not getting distracted so even though you were actually like learning about real estate doing this for years you literally were like don't talk to me so it was like a literally went back in to rebuild our whole culture all our our partners we don't call them employees or our partners went back in fertilized it and that's all I'm gonna do is feed my energy to this beautiful business Sophie from time to time hey this stuff is starting to look really good out there I would ignore it ignore it and then of course good communication you sit down at the table and I'm saying okay and and I think even back then now talking about it Omar that's when something I got really polished maybe even even with our relationship because think about all that all those crisis you know how many people got divorce in oh eight oh nine committed suicide it was devastation I know a lot of young people don't realize because were too young we made it through man and yeah if it wasn't for Sophie waking me up to get back into the real estate be more humble Bobby what happened to us was our mistake it was all us were the solutions the problems or in responsible for outcomes and it's awesome and it's incredible man it's incredible and you stick together we have a relationship like Sophie and I and anybody any life partners man think about it we have four legs we have four fists we have a better chance to win the fight together yeah I mean she's aligned with me I'm aligned with her we know our core values we want the same thing out of life what better freakin partner can you have and you guys have been there from the very beginning together okay I think your mom gave Bobby like 18 bucks from her bra so beautiful Latina lady a beautiful Cuban lady and and she had her beeper and there was back then there's no we have those big phones she had her beeper in there she had notes in there she had all the savings there was no bank account and it was the last money and she never forgot it Dixie pulls it right out and believed in in us and $1,800 business with zero in the bank account by dad we didn't even have we had a typewriter that we bought like I don't even know and a fax machine that's all we bought to be able to start this business and we had nothing else no money to pay rent no money we lived with our parents and that's all we had backs are against the wall you had to me we had to make it what what did you do differently when you focus on the business after you guys lost everything she focused on real estate what are some things you did different because I'm sure anything you were doing when you came back to it you could have been doing prior but because you were distracted you weren't focused on it so what are some key things one or two things you loaded up with awesome people period went out poach them stole them overpay them and it took off hired there's a beautiful person or there's Juan Carlos incredible it's like my little brother he still works for the company Juan Carlos is from Mexico City he's a sign tisks he has made us so much money I'm so grateful for my relationship with Juan Juan if you're looking at this or listen to this I love you and Liz and we also impacted his life and people like Juan we loaded up with and and guys there's many ones in bTW I know I'm missing so many beautiful people and because of you guys Sophie and I are sitting here and that's what we did man we we got better versions of ourselves and started paying attention to how passionate they are what is her skill set started setting up our lineup well he or she's not a good quarterback one heck of a receiver you don't want to line up with people that know it all that that ones every position it creates chaos confusion nothing's cascaded down I became very good at it then looking at scale and you'll be surprised when you you're surround yourself with these quality they make you better they make you think differently she think you move the needle so was there a big I guess what was the biggest challenge that you had to overcome that you had to actually be like [ __ ] it I got to do it was it taking the financial hit to to pay the best to be around the best was it firing people sooner I mean what kind of overcome myself how so egos not your amigo you just don't know it all you can't be a control freak you're just gonna be completely stuck I was the frickin problem and when you recognize you are the problem you need people to come in in order to help you scale you only I only have each of us only have so much skill set so much capacity and if you if you if you you fall victim of ignoring that and you try to do things that you really spending wasted energy why not bring someone in leverage someone to help you grow set them up to succeed so if they succeed you succeed if you succeed they succeed it's an amazing model it's been working for a hundred years I just didn't understand it because I let my ego I've always been a beautiful way I've never been disrespectful to no one I'm always kind I it's been always my life I'm a very kind person but when I say an ego I wanted to do everything no one could do it friggin better I was stupid what about what were some of the things like maybe during the growth that you realize needed to double down on was there anything that you realize like oh I need to go extremely hard on this data data okay data was a game changer numbers basically so what data means and I talked a little bit on a bootcamp that we were fortunate enough to attend data will drive you to your customer who wants and needs your product and more so can afford your product and that's where pricing doesn't become an issue yeah that's real pricing is an issue if they can't afford it they don't really need it that is wasted energy you want to invest in data which is very expensive but it's a Holy Grail so when you recognize a customer that absolutely needs your product or service can more than afford it it's it's teed up so when we understood that the data it was amazing that we spent all our marketing dollar dollars targeting the right profiles versus just using a shotgun approach sloppy Dappy Bobby Castro style and then you start using the Winstone rifle yeah but I didn't know that until we brought people in that knew that so I had a surrender Omar I had it let people take over this department because I was incapable I didn't know it and I was just winging it I'm good at this but I'm horrible at that that's why I say a lot of lot of CEOs you could be a great CEO but a horrible owner you could be a great salesperson and a horrible entrepreneur what is your strengths fuel it your weaknesses you'll spend a lifetime trying to fix them just be aware of them and delegate them right put people in keeps you meter me when you can delegate yeah okay what are some of the biggest mistakes you see entrepreneurs making nowadays whether it be you know in social media or personal friends people you see him might have these big aspirations but you know they get stuck at whatever half a million a year a million a year 10 million or whatever that keeps them from from scaling I mean what are some of the biggest distractions with all the flash man you remember that that story Bobby cash was all over the place so distracted and I'm seeing some awesome talented people far more talented than myself being stuck because they're so distracted with oh my god the Ferrari the plane and there's no information looking at this stuff you're just wow and yourself and they're just stuck without actually getting information how to get to a to B and then go from B to C with more information and I'm seeing so many people distracted this stuff is easy well Sophie and I did looking back this is really easy if you don't get distracted distracted means this if you're on Instagram say you're following a thousand people this is how I look at stats talk about data and so much income and we have about 70,000 thoughts a day that all of us get in our subconscious mind and somehow that comes out of your conscious mind and hopefully you're just enrolled in dice at some of its positive but most of its a bunch of donkey kong so you have a thousand followers and say you're in the drapery business and you're an entrepreneur you should be following other entrepreneurs that are successful in the drapery business you should not be following DJ X model X everything that doesn't have any reverence to where you want to go yeah I was distracted you know I knew where I wanted to go but it get darn it I keep getting it off the exit and then you run out of gas man no distractions that's where non-refundable minutes comes in man you don't get them back once you invest and spend your your minute no matter what you don't get it back so your job is to give value forget about receiving value the only way you're gonna receive value is give value now focus on giving giving giving value everything a conversation a customer all your focus is on value things start appear in man it starts moving now when you guys built that value to a billion where was the point where you decided like okay I want to have an exit do you remember when the first talk came about so I know you're tell me you're doing about twenty million a year in personal income yeah yeah yeah and you know what was the point where you started thinking well I saw this well he came to us on an institution a very big institution came saying hey we would love to buy into your company and we'll give you 250 million dollars and will by 30% you guys still own 70 you still control the board you're in full control we're just passive 250 million yeah we'll do it and well they did it Wow money was wired did you negotiate it at all no it was just you know let me just throw it up if they want to yeah and I thought it would be grateful it was never gonna okay let's see what happens yeah what happened oh you and then Wow why would someone do that we start looking into the process of information after after after instead of before you member I tell you about that damn cent 2005 order yeah yeah skipping the process we found out good for them they stoled it Wow good for them but you know what now we know information we didn't know that we should have paid attention to that we didn't pay attention to because we were distracted died 11 months not 12 months 11 months we went back to these beautiful awesome partners hey you have the first right refusal in the in the transaction to buy if we decide to sell more slices of the pizza well we want to sell 19 percent more we still want to own and control 51% but we want to take 19 percent more off the table the chips off the table so up controlling stake if it's yes okay but at 600 million additional Kenny I just paid 250 level months ago no I know I I totally get it I understand yeah it closed six hundred million six hundred million the power of information then more fuel just kept fueling and now we knew the power of new information on how to force appreciation in a company we knew how to force it in a in apartment buildings you increase rent right in this you increase revenue and you watch your bottom line and you control expenses you get all the uncontrollable expenses and you get them under control and then three years later so V and I exited for a billion dollars our last 17 percent it was one hundred and seventy million dollars all cash all three were cash no no hole back no that's always [ __ ] all cash enjoined yes and during that process Omar we were building that 300 million dollar portfolio that just been taking care of me and my family so much and working we're gonna continue growing that and we're managing our investments the power gets so freakin cut the power of information it's so powerful but you're never gonna get it because you're distracted the power of not getting distracted it's a prime example what I just outlined imagine if you're extremely focused on your business this boot camp I just came from yeah I was speaking of beautiful people they have $850,000 savings in the bank great businesses Bobby what do you thing about real estate what do you think about Bobby what do you think my real estate and I'm and I'm talking about tell me more about your business but they want to know I'm saying oh my god pay attention to this business real estate's not going nowhere you're not missing out nothing you pay attention to your business because we don't pay attention to your business it's gonna happen to you too but you may not be as lucky you may go out of business because right now the Internet is so powerful it's summon businesses and jobs it's creating an efficiencies and savings for your customers and you're just being distracting you're not paying attention you may be out of business and you're worried about getting to real estate if you have a business holy cow so talk to me about this take me to the first wire transfer there's a 250 million so when the money hits the account what's the first thing you guys did I cried I'll say my story real quick I was with my son-in-law Eddie he was at my desk he worked for the company yeah it came in give me the big hug and my son-in-law man he's like a hundred feet tall and just beautiful bear hey I didn't it didn't faze me I can honestly tell you the second one didn't faze me the third one I was finally proud of myself that's that's my little story yeah when we got that first one I was so emotional just because we came from nothing we started this business with $0 and that we were able to get an evaluation of getting two hundred and fifty million dollars and you know that was like wow I was like super proud emotionally proud because I was like I can't believe we did this like yeah really and I thought it was a great ideal and then I look at him and he's like it's okay it's you know whatever and I'm like what are you like do you have any feelings inside of me like no it was overwhelming I realize that who knows I know Sofie was very emotional she felt a little pressure and this is going back to this family's topic man we all deal with it she felt she started crying and she was emotional and she felt bad for her family how beautiful was dad and and I told her I said Sophie man it's all going to be okay and yeah man and I can't say guilty because I don't like that word guilty because we worked our asses off right this wasn't given to us this was not Harry because your nice guy is here we go we worked our butts off for years and still continue to do we go to the office every single day but I felt like you know my god I have family members that don't even have enough to like really cover their bills for the month you know and the same with him so I kind of like I felt very proud and happy and excited that we had that kind of money and we were considered millionaires at that point yeah um and that I had family members that had you know they couldn't make day-to-day yeah you can't see past their [ __ ] and the second one the 600 million that was a second second one no because I was so excited Omar how it works how you can actually now create value tangible value that's worth something to someone it's like wow that's why I'm telling I'm begging entrepreneurs man make sure your efforts is about wealth not about rich if you focus long-term efforts on wealth rich comes along the path yeah because make sure you build your business that is worth something to somebody it's so important you're gonna be the one man shop and you have 100 employees ten employees and you're gonna be that old Bobby Castro that's the front and center of the business it's worth nothing it's it's not an enterprise so be be careful on that if entrepreneurs should be really focused on what is what can I create valuation on my company know if I decide to exit at the same time making millions of dollars you know that's something that's really empowering for us being rich was what we wanted right had no clue what wealth was and I don't think a lot of entrepreneurs understand this because I came to understand this maybe three four years ago when we did the second you know sale of the company that I came to understand what wanting to be wanting to be wealthy I didn't want to be rich but I thought rich was where you want it to be and a lot of entrepreneurs run their life wanting to be rich finish line yeah I want to be rich I want to have a plane I want to have a car I want this mansion I want to go on these laboratory ins I just want to be rich and being rich ends at a point because you could use that money you you do it for the wrong reasons and that rich ends you know wanting to be wealthy it creates long term legacies and that's like really hard to understand and I still talk to a lot of entrepreneurs that are doing very well for themselves and they don't understand the concept of wealth you know and I think that's a big mistake that a lot of entrepreneurs out there legacy man we're on the hundred year legacy plan right now this is this is where we're at Omar the stats are scary that we just got ourself exposed to its highly success rate this what happens to beautiful individuals create some sort of wealth then we grow old and gray and then to beautiful individuals my daughter and my son our daughter and our son is now taking over they wind up spending it at all wasting it all burning it all getting distracted and then my grandbabies third generation has nothing that stat is like a 70 80 percents that that that's what happens so and now we're we're consulting with individuals we belong to an awesome organization with about 700 members were two of the 700 and a total combined net worth of 80 billion dollars these are individuals that have that have exited multiple times so it's like a high-level mastermind coaching program huge I mean you know where I was able we were able to spend for example having access one-on-one with Richard Branson spending some beautiful time at his home you know this is the type of level and and now we're on this hundred year plan so check this out imagine the motivation Sophie and I have this is what it is in a hundred years one of our grandchildren great-great great-great-great grandchildren is asked the question hey you know how do you guys get castro on that building that the name of the building Papa Bobby and Mimi they did and there's gonna be principles there's core values in this legacy plan and my kids are mean it's gonna be like a board level where if you want to do an investment it has to be in compliance it has to pass filter it has to be within the core values of the families you know thesis investments and just that alone is overwhelming for us this is all new information and it's getting our attention now because we're responsible and accountable for our legacy because no one in my family or Sophie's family ever thought about that imagine having one of your relatives a hundred years ago thought about you is that powerful yeah so that's what we're at in life and and when I mind when we're on social media we're just trying to share this on stuff that we're learning what we have learned with as many people who want to listen to it because I'm very urgent about this because I believe this is what's gonna happen in 15 20 years middle class is gonna be completely gone technology is a beautiful theme it's efficient it's awesome but it's dangerous because it's subbing jobs it's subbing the secretary it's up in all nine percent of where people live and do and if you don't do something about the fact of the reality about it and you're a secretary and you don't fight and pay attention to how do I get a promotion you're gonna be in trouble you're gonna be in trouble so why I know this information was I'm digging through this information it's scary so if you spend time on the internet social media and you're scrolling through and just being stuck spend time of what's gonna happen in the next 20 years to middle-class and I promise you it's gonna get your attention you're gonna start taking massive urgent action you're gonna get a second job a third job you're gonna start paying attention automatically you will not get distracted hey I don't have time for you because a lot of friends is a full-time job I need to get my crap together yeah now talk to me about this a big theme in what you're talking about is coaching and knowledge learning talk to me a little bit off camera he talked about how the first transaction is I know it's 250 million and you saw like holy [ __ ] they got this first steal because you didn't know that you could sell it yeah at multiple times value of X revenue or whatever depending on the industry talk to me a little bit about you know the the information that you're inputting your brain but then you approach them 11 months later and talking about 600 million what was the psychology of you know what did you learn and what advice do you have for people cuz you could have made more on that first 1000% so talk to me throughout you know so the audience could add context of how important the details are the details are it goes back to the information so if you're running the business I don't care how small how big how medium it is or the industry of product or service what is the market willing to pay for it's just almost like who is my customer how does my customer behave what is really my solution do I really have scale we determined that we had scale we didn't realize how big of a scale so the question is do you really know how much ceiling scale you have in your business what are the multiples we had no clue what a multiple is so you literally just sold it not knowing too much around somebody that have no they're a toy they're maybe twenty three billion dollar institution and we've been dealing with this intuition before the first slice for a few years so they got to know us they start looking on how this this goes and that's a power of relationships they were just paying attention and they're the ones who presented the opportunity to us you know and we had no clue and we should have had a clue of what we're building what is all your efforts for what is it truly worth are you just doing your business for a job or you're trying to really create wealth a lot of people have these business owners just because you're getting paid two hundred fifty thousand dollars you're missing it you should begin paid a hundred thousand and put in a 150 back in your business and why you should be motivated on it because when you researching information of why you should reinvest in your business you will find out because it's worth this much more if I do this much more so we were to answer your question we're spend a lot of energy on this when we should have been paying attention to here now you don't know that without the information so all we did was we're here we start looking here and then you guys gave them that valuation based on the projection of what the market tells us it's worth this would we could have went to any one they would have paid it so like how every industry has a different moments all right yes so give an example of that just so a lot of I say this a lot on my social media there's a website and I would recommend you going to it pitch book.com private equity and VC's all over there and how private equity works though why not meet in an omar and they'll stay in touch with the omar and that's where the power of relationships they see that your your you're a serious entrepreneur you have extreme focus you have some possibilities they stay in touch with you they just want to see the growth so the power of relationships so if you go to pitchbook.com you're gonna find out so much about what i'm talking about about valuations on how to invest your efforts better versus wasted energy that pitchbook.com and I warn you don't go too deep in this stuff because you'll get lost and when you get lost you're stuck so you got to watch the information to Omar because if you dive too too deep you may not come up yeah so my dive at the stage you're at just go if you're at three feet go three feet don't go through the damn concrete and through the pipes because you you won't come out I've been there before and lucky enough I squeezed out I don't know if that answer your question yeah no no it makes sense yeah so you basically just did your homework on the fact that in your industry could sell it at X amount of years revenue and the only reason the homework was done an event happened but we were lazy daisies we should have been more on it paying attention what are we created what are we building because all we keep leaning on this poor company is to get us out of a jam yeah I was like your insurance policy in a sense factly okay now talk to me a little bit about you guys built this phenomenal business obvious you guys have real roller coasters together thirty years of marriage congratulations on that 29 October 6 was our and we celebrated in it was in Africa 30 together 29 married have there ever been any tight times and it's kind of personal but we're you know maybe you guys almost kind of divorced or maybe you talked about that potential and yes talks millard about how you guys rode those waves and sort of ended up coming out successfully well full transparency I almost screwed it up I'm getting distracted not paying attention to you know when you meet someone you don't fall in love with someone right away you continue falling in love with this process with somebody every every day I learned something new from Sophie because we're we know how to communicate good I almost screwed it up because I got distracted in my marriage and yeah Sophie almost left me she almost left me and I'm so grateful that she did it man and I don't even know how she did it to be honest with you yeah I would say I was but that happened to us twice in our marriage well the first time it was like not even a year into our marriage we were 19 years I was 19 he was 23 years old we had just had a baby with and know each other crazy we had no money you know it was just a lot of craziness going on our life so to me that one I really don't count it but I actually I should count it because of course brilliant sort of marry me we really and we were able to survive it because we kind of like started talking about it and you know I sat down with him I'm like okay do you want this or you don't want this one so we kind of spoke about it communicated about it we tried it we went back and it worked really nicely and everything then back in in 2005 actually when that whole craziness of we were gonna lose everything we were gonna go into background my god we're in a plane so we were doing this we were doing that distracted again in the whole nine yards and that one I really think is where we really sat down and we said wait a minute what are we doing we really want to be with each other and we're just losing focus of our core values and our core values were as always communicate we have you know having a vision together or where we want to end up always having a goal and trusting each other and supporting each other on whatever decisions we make whether if it's personal or business and in that one time that we went through like really rough times we kind of sat down and like really said you know what from now on whatever happens whether it's good or bad we need to sit down and communicate and it's you know talk to each other of what's happening don't let this momentum just start doing this instead try to stay here and and walk together and I think that that's really get over that yeah get over that hump it was to put at ease to we were we were fighting over you know stupid things that we couldn't control was you know financial stupidities blaming each other for things instead of working together and you know now we that's been what that was in oh five so it's been you know 15 years I don't think we've ever had a time where we said you know more now what we do is up we have a little argument even if it's business because Bobby and me and personalities we have different we have different personalities Bobby's a very you got to do things right now Bobby's right now if he has a to-do list his to-do list gets done now if he has a phone call that he has to reply to if he has an email that he has to reply it's now I'm not now I have my to-do list but I could you know I I do my stuff as I go I don't really said I know how to I know that I need to get it done you know before certain due date or a time but right but I'm not right now so we have that little balancing that he wants it now I don't need it right now so we've learned to manage us so whenever we have that little argument even at work or if it's personal we kind of said if it's not gonna divorce if you're not gonna get divorced by it walk away take your minute take an hour take whatever and we come back and we discuss it because why are we gonna create this chaos this negative energy towards each other when it's a stupid fight or stupid thing that could get what's the power of 20 minutes have you just just give each other yeah it's not excessive that we know that we're not breaking up for it we don't argue and another thing I want to quickly at least let your viewers know Omar if you're in business and your wife is not involved in the business you both have to be aligned because what's gonna happen is you're gonna go home and or vice versa if your husband's not involved in your business or even in your careers jobs communicate about it bring the other individual in because you're taking at home you're gonna talk about it and if the other part of your other life partner is not aware it's not up to speed on the situation it's gonna create disagreements because they're on the same page so make sure you align each other and I think that was good with Sophie night because I do see a lot of couples where they don't lay maybe their their wife too much involved in the business or know more about the business or vice versa they don't have an interest to because you're going home with all this building the business becomes frustrating struggles it becomes a mental warfare yeah and if you don't have your life partner to bounce things off you like me with Sophie and I say Sophie what do you think I mean because think about the power of just communication working as a partner because if you can do it as your business partner but you can do it as your life partner a lot of people say well and how do you guys work out together you go everywhere together I never see you by yourself you're always with how do you guys do with how do you not get sick of each other yeah I don't know man mephitic from it yeah yeah we actually enjoy we do everything together we just keep getting paid another financial rewards yeah I'm around my my look at my children my grandpa brought your whole family here so yes we are united dude yeah talk to me a little about off-camera you mentioned also that sometimes you run into the trap if you're in a relationship constant arguments that it can kill the sexual chemistry yeah yeah talk about that is so important a lot of people so check this out just as an example say you're arguing or for a moment in time some verbal thing comes up you say something you don't mean and it's just stupid and one thing said the other one said and it builds up to this friction and it takes it takes over it becomes alive this momentum becomes like crop we're arguing about a piece of paper now we're like talking about divorce it's like so stupid what's that energy imagine how long how many days how many hours you don't even want to see your partner touch your partner and you come home it's happened to me it's happened to her even you argue in the morning even because I'm one when you argue it can last for days sometimes so you come home that night it's still that friction still that that bad going on yeah the sexual stimulation is not there I don't care what anyone says it's not there so just imagine the power of that if you let it get wider and wider that's where a lot of people find themselves in trouble I think yeah in their marriages but now if you're so kind like a couple days ago so if we got roses for me I always tell her I love you she says love you we sent some dirty Texas to one another you know get an aide you know years old I mean and and you that stuff keeps bouncing you playing ping pong and just having fun and you just get stimulated with each other now if you start arguing with each other it's a turn-off it is a it's a turn-off I did a post recently talking about this said sex is very high up on on the and living you know getting a relationship to last for a long period of time and a lot of people all sex is not really and important it is because when you do have that intimate moment with each other even if you're upset with each other or that you didn't like what he did or he didn't take out that stupid-ass garbage or this or that well yeah because I hate that that whole thing that they tell me oh my husband didn't take out the garbage I'm not gonna have sex with him today I'm like oh my god please but when you do have that intimate moment you're able to release all of that and you know aroma on your life that you're like oh my god you know what he's so awesome she's so great oh my god you're able to hug each other you're able to love each other and that makes you forget about many things that are stupid they're little stupid little things in your relationship that that you think that they're so big but once you're able to do that and you're you're you're intimate with each other everything else is so easy to forgive if you want to have a good sex life in your marriage this is to you know of any game for 30 years if you want to have a hot stimulating sex life costumes are involved the whole darn thing you continue stimulating each other treat each other with kind tell her she's sexy and she's gonna feed it back to you this thing starts coming alive and you start falling in love you don't start looking sideways you're just focused was the communication always in the report that you guys have now or no because I could imagine with your it got very good 15 years ago yeah but so when you guys first start off I could imagine cuz you're like a passionate yes dude she's more mellow in the beginning was it like I need this now she was like and you were probably well tense yeah and I didn't realize that there's something that everyone should take and it's free we paid a lot of money in our company for it but it's really go to Google disk d.i.s.c.o the personality so it's assessment it's so important of your relationship a business it's a no-brainer you should do with your employees you should do with your partnerships but if you have a marriage girlfriend/boyfriend whatever the case is each of you take the assessment sit down talk about it chances are 95% chance the profile you're gonna read is you but guess what that your partner is a canoe different profile he or she relates to things differently you may have to speak a little softer slower and as long as you know how they're wired chances for success rise and it helped us because now I know how she's wired I know how to come across a better way maybe have her more dialed into something I want her to pay attention to of a topic I want to talk about she definitely knows how I'm wired I am kind of all over the place and when when you're aligned it's awesome so you know they do it in business the disk yeah but many people don't do it in relationships totally no how about you Sophie because I must have been tough for you initially to figure out how to adjust to his pace of intensity I want to achieve when I get to a billion dollars what are you talking about we don't have much how did you adapt how did you adjust it was difficult like I said at the very beginning it's very difficult because he's that right now he's very strong he's a very alpha personality and believe it or not I'm alpha too I'm like a very strong personality but he over his personality is so dominant he's so focused that he's he's driven so even though that I'm strong personality I didn't have that driven in that right now it's important to do it now so at the very beginning it was difficult was a mom at 19 years old I had to take care of the baby no matter what I mean he you know he was a father but moms always have more responsibilities with the babies you know being that we had the business and the whole nine yards so it was very difficult to very beginning I cried for years sometimes because um I needed to adapt to his personality and I was like more subtle more you know I'll get there I'll get there and he is now now but you know I luckily I don't know if it was I think it was so much we were our love for each other and I knew what he wanted was the best for us he wasn't doing it because he wanted to hurt me or bring me down that I was able to mold into his way and start learning how to you know cope or that personality and start learning to try to be more like him and you know I'm thankful for it because today has made me a great entrepreneur and understand that you know it is important to be focused and to want that right now because if you don't you sit back and you let life just go ahead of you or get stuck in a level and never want to move up you know so I'm really grateful for it um it was difficult a hundred percent was it difficult yes it was but you know he has a personality that even though he had such a strength of a personality and so alpha that but he always believed it or not was very caring to me he was always he never left me behind he never wanted to you know he was never gave up on you never he and he never was a person a guy that said no you're gonna stay home and you're gonna be a mom and I'm gonna be the business man and no he always included me in the business he always in you know we were always together did you appreciate it initially or at the beginning I really didn't understand it you know it's not that I didn't up not I didn't appreciate it or I didn't hate it it was just not understanding but but overall I did know that all he wanted was the best for us so that's what kept me you know wanting to get better and and try to keep up with him so last question on that for women who are watching us and maybe have a significant other they're in the same situation maybe early on in their career or marriage or relationship or whatever what advice would you give them if they're dealing with a partner that they're trying to figure out how to adapt to and sting in the relationships you know not you know adjusting to be on the same page I would tell you know I tell all the women this you know you have to be aligned with your partner whether you're in business with them or not even if you have your own career he has his own career regardless of the situation at the end of the day your final goal needs to be the same and you need to be aligned and being the same you know even if you're a side by him you know you guys have to end up at the same goal so you need to hold each other's hand support each other trust each other have the same vision and go for it and the women out there are sometimes afraid to try to keep up with their husbands or go into business with their husbands because they're women or because whatever it is do it you know you you at the end of the day you're gonna be better off you have the same goals you want to both be better so just go and be hold their hands if you don't want to be in business I understand some women are not made to be entrepreneurs they like to be stay home moms and that is perfectly fine but that doesn't mean that you cannot be aligned with your husband support him trust them on where he's going and end at the end at the end goal all right so two more questions why real-estate and what's your best advice to people who want to get into real estate want to grow I love that you said you got a house they got a duplex and you got three and then you got four I literally step by step by step with knowing what you know now would you still recommend that to people who maybe want to get into real estate investing or flipping what would be your best advice to people who maybe have capital and want to get in real estate and want to really build long term wealth real estate is is so awesome there there's so many awesome benefits of real estate and it's so powerful you know Sophie and I just bought a couple deals one hundred and eight million dollars worth of deals were they the best deals no no but it was a value add to us because remember that transaction we just exited we're we're gonna pay millions plural s at the end millions less in taxes because of that those purchases besides the cash flow we get from them so that's a great value add that makes sense for Bobby and Sophie at the stage we're at now if you're somebody that's a hundred thousand dollars fifty thousand dollars or you don't have nothing you aspire to do real estate for the ones I don't have enough money to get into real estate and they may be asking grandma or mom or sister brother or friends and family to invest please don't do that please do what I should have done before I made the mistake find out how to invest in real estate find out everything you can you don't have to pay for it it's free on you look up Sam sell he'll tell you exactly and when you have all this information you're diving in the information you're learn about the information of the cycle we're in because in real estate the success is on the by it's never on the sale you have to you have to focus on the by so as you're learning this information you could be stacking stacking means you get save get out of credit-card debt start stop overspending stop start paying attention to the pennies every penny can be compounded in a down or kind of down movement you can make ten five to ten times more than you can in a market we're in now so if you don't have money man don't be lazy don't get crazy like Bobby all over the place dialing get focus I need to learn about this but at the same time I have to maximize my 24 hours these Don refundable minutes if you have a job and you're kicking butt at a job fantastic do better at that job get another job you got to be willing to surrender I was one that surrendered I became a waiter I used to wait on people that I used to go out with that's how humble I became I finally had a surrender and if you're somebody that do does have some economics or if you're somebody that's involved in real estate just know this we're in a cycle that is very very frothy there's 1.8 trillion dollars that private equity have has that is look into place to any heartbeat anything you are competing on that well Bobby they don't compete on the duplexes and for plexus I agree that's even more of a dangerous pocket because those are inexperienced investors overpaying you think you've got a deal and I'm telling you beautiful people you overpaid you're not missing nothing in this market let this market settle find out where it's gonna go so check it out Sophie and I have an investment thesis here no matter what we don't break those core values we used to break them so if you have your core values here as your investment thesis and the market and the markets here you're under writings here but now the market just shuffled you cannot shuffle with it you got to stay with your core values well I'm not gonna buy nothing then Bobby well I guess you're not gonna buy nothing do you want to become wealthy or do you want to stay broke let us think long-term yeah long-term efforts real estate it's always gonna be around why I love real estate I gave you a couple examples it gives me cash me my family cashflow from day one I do not depend on a dollar increase if it happens it happens I don't depend on appreciation I don't even depend on taxes just pretend it all exists which they do exist I just want the cash flow I love real estate business not a threat to technology one thing we need is this roof right now we're probably golden for the next hundred years technology's not gonna sub a roof it is awesome everybody needs it it's an absolute requirement a roof I liked is something I like to live in rents $1,100 to $1,600 that is where we swim in so that's where 90% of people swimming these are beautiful people we are not ones that get the high rises the you know we have a thousand units and we just live where beautiful people live that may never own a home or areas that we keep track of is where job growth is where it makes more sense to rent and buy there's not too much construction going on you know there's pockets in the US we stay away from areas that that that are even talking about rent control because we're long-term thinkers and we used to not be long-term thinkers we used to just try to get rich versus trying to get wealthy and it's the same friggin energy and you get rich anyways on the way to wealth can happen yeah so so how many apartments you guys at talk a little bit about we have about me nope right all in involved in about 6,000 units we own 2,000 units ourself just Sophie and I and our kids we used to manage all those by the way we're pretty good at it and now just recently we handed that management over to a very large management company that can do it much efficient more affordable it makes sense so we could focus on investments because we're in a market that you now need to be on high alert why do I want to buy this why am I the lucky one why am I trying to give I fall victim every day of this Omar I'm on the toilet and I'm going through deal flow deal flow spending 20 minutes of my non-refundable minutes I still fall victim and I finally say what am i doing why am i trying to convince myself this is a deal this is my deal started like you just burn 20 minutes I fall victim so if I do it and I am that extreme individual focus I can imagine what others are doing especially people who are aspiring who haven't really tasted true wealth and I ran into some beautiful people this weekend awesome businesses like I talked about and I tell them this half hour late or an hour later I go to the bathroom really quick before I have to speak again hey Baba have a deal on what you look at it and I don't tell them this but I look at I'm saying you're like Bob you're like the old Bobby is just going here and it's racing out there and I get it I get it and they're getting distracted because as you digest and information like as I'm talking to you I'm already thinking about 10 things things going on but they're productive liens they're real things it's such a danger it's real estate in all cycles you can make money you just need to be on high alert in this cycle so you have a V upside down Omar for the last ten years we were going from the bottom all the way up right and now we're up here and I tell everyone they want to buy up here and I tell them what have you been doing for ten years you haven't been paying attention to your this and now you have the audacity you want to get in the game now what have you been doing well Bobby I was I was only nine years old that time I got it what about you're 30 years old what have you been doing since you were 20 years old now you want to get into real estate invests in information you don't have to pay for that information and when this starts tipping this goes down very quickly paranoia that's where value is that was where Warren Buffett is Warren Buffett says this when the tide goes out you'll see the one swimming naked and the ones that swim naked don't have a stack they don't have a savings account and when markets adjust the ones I have liquidity I don't care if it's a hundred thousand dollars ten thousand you're gonna make money but in between there you can learn a whole bunch of stuff yes or learn be patient and then stack and rack build that capital so that you can necessary yeah and that's back in Iraq you know stock your money and if you can track it an investment racket and information get knowledge that's like my granddaughter she told you today stacking rack she doesn't she's four years old she says stacking rack she runs around the house stacking rack stacker rack but we are embedded in to her subconscious mind because she will understand what stacking rack means because guess what it's our duty my kids duty to make sure we compound our wealth for my grandbaby so they know what stacking rack means so they can compound it to their children and this theme becomes a legacy the Castro legacy I love that beautiful so the last question I have is talk to me a little bit about three things right PMA positive mental attitude how important coaching has been it's been a recurring theme your guys's life yep before during and even after you guys had that exit as you go to the next level and then also how important it is for you guys to not only have a positive mental attitude not only have coaches but also you know the impact that that has had in your life with things like you know manifestation I know you're talking about the secret yep so we love to manifest things and somehow it happens and the only way it happens is having a positive mental attitude we believe in it so much and in that company we just exited for a billion dollars you walk in there today 500 plus employees have that shirt on it's so powerful that Sophie and I trademark positive mental attitude all day every day we trademark stack and rack your employees literally we're positive you go to go to it's the best culture if you do a Google search it's one of the best places to work for in the US Wow go to Fortune Forbes hit it all 2012 I was so honored to win their earnest in Young Entrepreneur of the Year award wow I didn't realize how big that was until years later like who was Ernst & Young I know I even know and we made ink magazine 13 times Wow no.5 the fifth fastest growing company in America and that all came from just this possible mental attitude and that's how you build a culture and it becomes contagious and was that culture bill and I'm gonna interject what was that culture built during after the recession yes intentional in the business yes sir okay and it's been a game-changer in our whole life I mean you'll see my family members walk around with PMA and the coach and it's a very sensitive topic there's a lot of coaches a lot of resources that Kim that is for you out there to take advantage of but what you don't want to do is skip the process and do your due diligence where are you gonna dive yourself into information make sure they have the results massive results not just results massive they've been through many cycles many challenges personally business-wise that can actually give you value Sophie and I are getting a tremendous value from some really great individuals that are helping us move the needle thinking differently and it's important because I know for the first time ever I've been exposed now for five months on social media I never really I never been on social media it's overwhelming there's if I was a young person or even do like me at 52 it's a lot of information man who do I hire what do I do I mean there and everyone's just so glued on a Ferrari a Lambo whatever it is or in which I can see it it's very it's it's appealing but there's that is just so far out there so many distractions so you're gonna get a coach get a coach that can help you at the stage where you're at you don't need anything more than that because you're not there just go in stages man don't try to premature pivot because it's unreason Trull eight to your situation your to your paycheck to paycheck you're constantly broke you have $30,000 in credit card debt that's a stage you need to put your efforts on and and there's no coach for that we all know what to do in that case start being who you are stop overspending get out of credit card debt I see a lot of beautiful people Bobby I'm saving I have $50,000 in the bank account I said awesome rock and roll man hey you have any debt yeah I got $20,000 in credit card debt hmm dude you only got $30,000 and savings you got to pay that debt off it makes no sense these simple things can teach you on Google you know you got to get out of debt before you stack because that's not a bonafide stack we win in credit card debt for so many years hundred thousand dollars at a time we thought we were getting ahead we'll never do it again never use that ATM Sophie we got back on the crack yeah we started leaning on them just it would that that was everything savings account we thought we had a savings account and we're like but wait a minute we have a hundred thousand dollars and credit card debt what are we doing we don't have we need to pay good attention so you think you go out of the dinner I'll know we'll pay and show that we were like lots of years ago by doing that yeah yeah and then talk to me about manifestation and a law of attraction huge huge and the only way you can buy into that is dive into that without any distractions and the secret the secrets been around for a bit every time you read the secret you read it differently you become more mature you start buying into it so uh Law of Attraction is huge man it's so powerful people ignore it I I've been speaking a lot I don't know if young people are buying into my stuff because when they get through and I know they're giving up on the book because it's getting kind of wacky for some sure but they're so freaking focused on a Ferrari if you're so focused on a Ferrari that's not a book for you but if you want to become wealthy you want to be a kind person you want production in your life I'm begging you read this book it's about this thick and I found this book many years ago from a beautiful person of course I don't know her I'm a huge fan of hers Oprah with you I can't pronounce the names Oprah yeah and huge yeah yeah you used to manifest things even from the since the beginning of our relationship and I used to always tell them but are you crazy you you know you wanted to get here we don't even have like no we aren't we're gonna get there we're gonna get this or you know whatever it was it could have been a building or it could be you know we're gonna reach disco of money in our savings account or or we're gonna you know this company is gonna take your I want to make sure some people don't get confused you can manifest in and do a bar me did and still does no we're gonna do it it's gonna that's gonna come here you got actually do something about it to you take action yeah it's a very focused person like our we said it takes action on everything he does you know so I like that in an hour compared to most I I fit so much in my minute that's why there's another fundamental called urgent massive action the faster I give this effort value and immediate action the faster I can get a result from it and I can move on just like when I had meetings before my company sometimes you can have an hour meeting you can go on there's no more than a ten minute meeting you're coming to meet your employees your staff because there's an issue you're gonna have takeaways for the next meeting to bring the solutions back it's really quickly ten minutes so what's our outcome how much can you get done in your hour man it's unbelievable okay so the last question we have is at the end of every interview we always ask people if you could look back and give the young Sophie the young Bobby their best advice to a young Bobby or young Sophie who was looking for answers who was trying to find a way to make their life work who was praying and hoping and I'm sure you guys have had a lot of tough nights whether you had money ups and downs crying praying to God trying to manifest your way out of old I swear I'll never do this again to people around the world men women entrepreneurs people in jobs who are trying to make their life work who are stuck and they might see you guys like all you easy for you guys to say you're out where you're at what would be your best advice to somebody out there looking for answers who's in that place and trying to figure out how to make their life work at any age yeah game-changer for Bobby Castro limit a lot of friends I started spending more time with myself it's a full-time job when you have a lot of people in your life and that sucks man I don't mean that in a harsh way you're gonna have to release yourself you're you're you're getting bogged down you're getting and I'm gonna keep going back to distractions you're gonna in a good way there's are beautiful people man their family members or friends there's people that you knew from elementary that's my boy and all that you're gonna have to say man high five dude I'm 25 years old and I got to do something you know I'm gonna be checked out for a while and I just want that you know I love you and all that but I'm a friggin mess well what do you mean Bob you do good me you got a great job no man it's not where I want to be I want more and when you have that internal conversation with yourself and you are ready to have that conversation with your entire crew you will find out what happens you become lonely and nobody likes to be lonely no one's around and we don't lie to ourselves we can lie to others they can lie to us but when we're by yourself and you're taking that warm shower that's where you want to be yeah that's my advice dude it's been a game-changer I am a lot of energy I can easily get distracted easily but I am aware of my weakness I'm aware of it yeah I would say that um stay focused get a lot of knowledge of where you want to go you got to have a final goal you have to know where you want to be in life and it could be many things you could be wanting to like I said you want to be a stay-at-home mom or if you want to be in a career or if you want to be an entrepreneur but have a goal and be focused at it and get a lot of knowledge of where you want that industry that you want to be in I learned that the hard way I'm one that was very distracted by friends and not really wanting to be focused because I I wanna you know I wanted to be everywhere I wanted to do many things all at once and I realized that that doesn't work and Bobbie kept on telling me you're just being too distracted and you just you know see a squirrel and you want to be squirrel and I learned that it you know and I fought him for many years on this but after really bending into it and really no doing it and I realized my god if I would have done this a long time ago I would have been so much further not not I'm not saying now I'm talking about you know before I would have been so much further in my you know where we want to go so I would say stay focused get a lot of knowledge and have a goal and one thing I really want to squeeze him but I can't Omar seven out of ten ten of us go to work and we hate our job start falling your job that's a stage your ad start falling in love with it that will pivot you that will lead you to better you got to get in the habit of falling all over the process yes I don't like to be a secretary I don't like to be a housekeeper at Holiday Inn fall in love with this process start buying into the process you will start growing you will start have a better mindset you will start manifesting better things in your life so watch you know be very careful man it's so dangerous man you got to fall in love with the process of growing you're only here you're a housekeeper because you're right here at this moment in time doesn't mean you're gonna be there next year no and time flies just like that very quickly do ya I'm sure you can still remember the times when you started early on my daughter she's 28 years dog could be 29 that was my baby I see my grandbaby ocean I see Priscilla yeah I I feel like I'm 1952 I have more energy than these 19 year olds I wait am i oh yeah it's beautiful now at the end of every interview we play a game called first things first so I'll play with both you guys will go with Sophie and then you Bobby and then we'll wrap up the interview basically the way the game works is it's just a word relation game so I'm gonna rifle off a word or phrase you just tell me the first word or phrase that comes to mind cool the quick relation game so just the first word or phrase that comes to mind so we do that a lot yeah so we'll go first with you so putting up with Bobby Castro oh wow Wow is the word putting up with Bobby Castro it's a difficult ride because of those personality that I told you to be well one word 101 first word or phrase oh oh wow that says it all okay second thing the opportunity in real estate great love it the day the wire transfer cleared very emotional your biggest regret looking back not being focused at the very beginning or getting enough knowledge your best advice on raising kids you know when you have wealth being very honest with them and and making them know what your final goals are for them too looking back at where you guys came from oh my god [Music] incredible because I can't believe we were there and now where we're at yeah best decision you ever made marrying Bobby set you up for that one worst advice you've ever received oh wow that was a difficult one um probably jumping at opportunities without getting advice to do something without getting knowledge best advice you've ever received to have focus ness which was from Bobby yeah and then the last one is the Castro legacy as you see it I want something to be big I want it to be something that's gonna be amazing that everybody's gonna know about it that they're gonna be wow that was an awesome family I know Wow it's a nice dynamic that ones are also now alright Bobby you ready yes sir all right first one freedom scale money freedom your biggest insecurities myself worst advice you've ever received trust me best advice you've ever received trust yourself biggest regret you have in business I should have done more due diligence on a lot of things coaching mentorship careful knowledge priceless real estate wealth and then last one is the Castro legacy as you see it ecstasy I love it beautiful thank you guys so much story the show as your man the real pleasure film thank you guys for tuning in to this episode and make sure to follow Bobby and Sophia on Instagram and social media until next time live strong live with passion we'll see you guys there if you guys enjoyed that video be sure

Channel: OMAR ELATTAR & THE PASSIONATE FEW

Views: 220,080

Rating: 4.9091582 out of 5

Keywords: Bobby Castro, bobby castro the passionate few, bobby castro interview, business, marketing, finance, investing, insurance, omar elattar, how to make money in real estate, real estate market, sofia castro, broke to billion, billionaire, real estate mogul, how to become a millionaire, relationship advice, manny khoshbin, real estate, relationship, power couple, bobby and sofia castro interview, real estate investing, stocks, savings, digital marketing, entrepreneur, start a business

Id: -bFXHfS_LIw

Length: 106min 24sec (6384 seconds)

Published: Mon Apr 20 2020