Creating A Billion Dollar Legacy With Your Spouse - Sofia Castro
Sofia and her husband Bobby were able to come from the humble beginnings of investing $1800 for a tiny manual on how to lease heavy equipment to building a company that was valued at a billion-dollar valuation. Sofia got her start in Real estate with; condo conversions. This is when you change apartment units to condos for the purpose of selling the individual units. Sofia invested 70 million into this method, and when 2008 came, she learned a valuable lesson about never being over-leveraged. She also learned other valuable lessons, including the power of having your core values in place prior to investing in any property and the power of multi-family Real Estate Investing over any other type of Real Estate Investing. Today Sofia owns over 400 million worth of cash flow positive Real Estate. As of June 2020, her properties were still near 95 percent occupied even through the coronavirus pandemic. Now she wants to help you to build an unshakeable Real Estate Empire of your own.
[00:01 – 03:23] Opening Segment
- I introduce and welcome our guest, Sofia Castro
[03:24 – 17:15] From The Beginnings To $1 Billion
- Sofia talks about her background and the story of their company. From 0 to 1-Billion dollars
- Starting from humble beginnings
- Starting a company having not enough capital and knowledge
- Climbing the stairs one step at a time
- Working closely with the spouse, what is it like?
- Sofia shares some advice for spouses interested in starting a business together.
- Always know your role
- Set your goals
- Communication and alignment
[17:16 – 22:39] The Dynamics of Being a Working Mom
- Sofia talks about the dynamics of being a working mom
[22:40 – 32:05] Diving into Real Estate
- Sofia talks about how they slowly built up their real estate portfolio
- Diversifying their streams of income
- Teaching their kids how to invest on the side
- Focusing on your roles and the struggles of working with your spouse
[32:06 – 37:27] Positive Mental Attitude
- Keeping a positive mental attitude. How it helped Sofia and Bobby on their journey
- Nothing good comes from negativity.
- “The stock and rack.” What does Sofia mean by it?
[37:28 – 43:53] Creating Generational Wealth And Legacy
- How to create a legacy for your family
- Sofia shares tips and the lessons they learned throughout their journey
[43:54 – 48:46] The Contrarian 3-Pack
- What would you say is the most contrarian investment you’ve made?
- Condo conversions
- What’s your favorite activity to do with your friends and family outside of work?
- We love boating
- What actions, whether within work or family, offer you the most fulfillment in life?
- Being able to teach our kids how to become entrepreneurs and create a legacy of generational wealth
- Connect with Sofia. See the links below.
Tweetable Quotes:
“When you have a spouse that’s able to back you up on whatever it is, it’s awesome because you’re both on the same page. At the end of the day, you both have that same goal. You both want to be financially free. You both want the best for your family. You both have that same vision.” – Sofia Castro
“When you put all your efforts and your focus, and you don’t let distractions come in your way, you’re gonna get to those goals.” – Sofia Castro
You can connect with Sofia on Instagram, Facebook or visit her website https://sofiacastroofficial.com/
LEAVE A REVIEW + help the podcast grow by sharing it with your friends, family, or someone in need.
Follow me on LinkedIn or visit our website to know more.
Think Different. Earn Different. Live Fulfilled.
