How A College Dropout Built A $2.9 Billion Real Estate Empire | Forbes
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Published 2023-04-15
“Warren Buffett looks for great companies and doesn’t trade a lot. That’s our philosophy in real estate,” he says. “Let’s find a good location and keep it. Why sell the golden goose?”
It’s a strategy Carroll’s actually been testing out since he was a kid. When he was 14, he bought an 800-square- foot house in Danville, Virginia, using $1,000 in savings (equivalent to about $5,000 today) that he had cobbled together from odd jobs like mowing yards, returning bottles and selling candy. He fixed the place up and sold it a year later, using the profits to buy a Ford Mustang that he wasn’t even old enough to legally drive.
Nearly five decades later, Carroll has built a $2.9 billion fortune largely made up of real estate, including more than 13,000 apartments and 29 self-storage facilities, as well as industrial land and mixed-use projects. He has also parlayed that Mustang he bought as a teenager into a collection of yachts and Ferraris, including one that raced at the 24 Hours of Le Mans last summer.
Read the full story on Forbes: www.forbes.com/sites/giacomotognini/2022/12/05/the…
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All Comments (21)
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I appreciate this type of "college dropout/success story". It was very genuine and authentic. Unlike these others where people had trust funds, inheritances, etc. This was truly ground floor.
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This guy is a great example of being a quality person, building a good reputation, and conducting business in good faith. Those things sometimes hurt in the short term but pay off big time over time.
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I’m actually from Greensboro! I’ve heard of him but didn’t realize his impact in the local community. Great to see us finally on the map
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Seems like a really chill nice dude for a billionaire, great story too.
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Seems soo chill humble love his story too
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Yo @Forbes this is great. Less Wall Street business man profiles. More Main Street profiles like this.
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really really wonderful story line and great editing, etc ....... he''s an inspiration with respect to what hard work and integrity can accomplish !!!
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My Dad’s family is from Winston-Salem. My mom’s family is from Raleigh. So all of these places are very familiar to me. I would’ve never known that a local company was behind them.
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At this moment, it is crucial for individuals to prioritize investing in alternative streams of income that are not reliant on the government, particularly with the existing worldwide economic crisis. Investing in stocks, gold, silver, and digital currencies can still be profitable during this period. Therefore, it is advisable to explore these investment options to secure one's financial future.
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Seems like calling someone a 'college dropout' doesn't really have the same connotations it had 30 years ago...
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Great story. Family, hard work, and dedication pay off!
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Such a nice person to listen to.
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what an inspiring and very kind person, Mr. Roy Carroll seems to be really wonderful :)
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Don’t run away from your obligations 💯👏🏽🙌🏾
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I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 42, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
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Thank you for sharing your experience!!! ☺
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Very inspiring, and real.
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Great story. Very inspiring.
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I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
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Quality content.
