How A College Dropout Built A $2.9 Billion Real Estate Empire | Forbes
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- เผยแพร่เมื่อ 2 มิ.ย. 2024
- Like the Oracle of Omaha, Roy Carroll has made a fortune buying low and rarely selling. His sweet spot: cheap land that he’s turned into lucrative apartment complexes across the Southeast. Now Greensboro’s richest resident is biding his time, waiting for the coming real estate market collapse.
“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.
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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.
Honesly we need more stories like this
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.
100% agree
Seems like a really chill nice dude for a billionaire, great story too.
Real estate is just another system of controlled division. . not that anyone here cares. . as you are too busy trying to outbid each other for properties. . to sell back to your countrymen at a 300% markup. . yall all are a bunch of backstabbing hypocrites!!!
Yh
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
Real estate is just another system of controlled division. . not that anyone here cares. . as you are too busy trying to outbid each other for properties. . to sell back to your countrymen at a 300% markup. . yall all are a bunch of backstabbing hypocrites!!!
As a fellow Greensboro citizen who grew up here I totally agree! Great to see a successful business person from our city get national attention
Seems soo chill humble love his story too
Yo @Forbes this is great. Less Wall Street business man profiles. More Main Street profiles like this.
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.
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.
I'd be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around
$250K per year but nothing to show for it yet.
Your money is stagnant when you save, I will advise you buy stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance of a broker or financial advisor.
you're right! If you are unfamiliar with the market, I recommend seeking advice or assistance from a financial/investment coach.With the help of an investment advisor, I have diversified my $450,000 portfolio across multiple markets, We were able to generate over $1.2 million in net income from seasonally high-dividend stocks, ETFs and bonds. For me, this is the most ideal way to enter the market these days.
@@Zanrowe795 Please can you leave the info of your investment advisor here? I’m in dire need for one.
@@robertosaviano215 Sure, the investment-advisor that guides me is Laura Marie Ray, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
really really wonderful story line and great editing, etc ....... he''s an inspiration with respect to what hard work and integrity can accomplish !!!
what an inspiring and very kind person, Mr. Roy Carroll seems to be really wonderful :)
Don’t run away from your obligations 💯👏🏽🙌🏾
Great story. Family, hard work, and dedication pay off!
Such a nice person to listen to.
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!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal
@@hermanramos7092 please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
@@kenanporubsky2122 My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for sharing your experience!!! ☺
Great data, God Bless You Mr. Carroll
Very inspiring, and real.
Quality content.
Great story. Very inspiring.
I like this type of content Forbes, stop showcasing up-and-coming fraudsters like you've been doing. Focus on people who have done it.
Straight facts
literally.. no one actually in business cares about course makers and 'business coaches'
Wow! I like this origin story!
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.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
The Adviser I'm in touch with is *'Nolan Velden Brent'* , he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me he strategy works hence my result. He provides entry and exit point for the securities I focus on.
Wow! The a-third annual payment model is inspiring.,
Growth and Value is in Greenville, SC
GOD BLESS CAPITALISM 🇺🇸
Seems like calling someone a 'college dropout' doesn't really have the same connotations it had 30 years ago...
Ilike this fella seems genuine.
Great story!
Not too far from my hometown 💯
Great journey. 🎉 Well done.
What a fantastic life story!
A meat cutter used to be able to buy multiple houses back in the day 😢😢
👏👏👏👏👏 such an inspiring "usa Family Business"
A TRUE example of industrialism's legacy [corporate culture at its Finest]!
This is brilliant & inspiring.
WOW I just came across this video and I aspire to be like him. I’m from Gastonia NC and if this man can do it why can’t I?
Real estate is just another system of controlled division. . not that anyone here cares. . as you are too busy trying to outbid each other for properties. . to sell back to your countrymen at a 300% markup. . yall all are a bunch of backstabbing hypocrites!!!
Right mindset👏🏾
I have no complaints about anything he’s done but the storage. They may be nicer than others in the market but they don’t look like an office building and they don’t fit in AND they will slap those things anywhere.
Wealth is some you can’t see, I’ve never heard of this man
Nice!
Awesome story
Americans are very talented persons
Today in Canada to buy a house. With a single income, you need to save 20-25 years.
Time have changed
Like this guy!
Big W
Very inspiring Thanks for sharing God bless
He makes sound so easy. Most people dont know where to start.
Now this is the real billionaire from real estate - unlike Grant Cardone! lol
Agree! Cardone comes off as a bumbling entertainer
Generational wealth help wit the parents giving the head start
I’m » hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2024. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
If you have a good trading strategy that can see you through winning days, investing in stocks and real estate may be a wise choice.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
@@patrickperez7387 Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
@@Igorstravinsky788 They are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as they assisted me in restructuring my complete portfolio. "Ruth Loralann Brennan. a well-known professional in her field who you may be familiar with, is none other than my advisor.
@@patrickperez7387 I must add that Ruth’s profile seems to be pretty knowledgeable, so I appreciate the tip. I completely read through her resume, educational history, and qualifications after finding her online, and I must admit, they were extremely remarkable. She responded to my message, and we have scheduled a session.
imagine buying a home for 5k
Ye nothing wrong with that. Those days $1 bought you 10 loafs of bread.
Inflation is the only thing that makes money go up, not the VALUE of the money.
I bought a few dozen mobile homes (with about a quarter acre each) for 15-25k from 2014-2019. They were all bank foreclosures. Just luck of the draw. They’re all worth 170-210k now. In 15 years, people will be looking back and marveling at how cheap things are now.
Real.
This is what they mean by that "old money". New money is the people who have to compete with the houses in the current market of still overinflated prices and attempt to flip those for profit.
If you want to have a chance of getting up there faster, go buy businesses with the opportunity for improvement and discharge the loan under HJR-192 and you be there probably within 5-7 years easy. And I say easy if you actually study your laws if you don't start today. That's how REAL wealth is built for the unfair advantage.
With money, he did it with money, that’s the secret
a home for 5k ...unheard of today and or in europe
there's a cnbc video of people buying homes in Italy for $1 to rehab and flip but they're not the best condition lol
Cool
Does he own any affordable housing complexes or are his operations strictly luxury high profit?
Means nothing when you live with parents. When you save on rent you are buying free capital to work on your dreams stress free.
A $5000 dollar home..... what?!?
Спасибо за просмотр и мы тебя накажем мир моды а это реальное дело где нужны реальные качестве
Really self-made
Funny this advertisement coming in middle of real estate crisis… market manipulation …
I I'm very appreciated
and what is success ... for me the true promise of eternal life ... can never be bought ...my CREATOR' promised me ... and not amount of real estate or anything that this world can give you can measure up to that promise ... that is worth more than billions and trillions ... keep your real estate and keep your wealth ... ( now what is success ? ... ech roy ... )
wait, can you really build a home efficiently and up to standard with no training? electric, plumbing, carpentry and all?
Buy what?
5000 dollar home????? WTH
Maybe in my future or next lifetime
Altyazı seçeneklerinde felemenkçe ve ukraynaca bile ama Türkçe yok. İnanılmaz …
Forbes. More videos like this, and fewer about fraudsters like Sam bankman fried
my point exactly/ all school turns out are educated serfs. I had so many smarts, then i went to University where they proceeded to dumb me down. Its taken almost 20 years but i am nearly the process of totally deprogramming myself
Unfortunately The majority of individuals seem unaware of and careless when it comes to investing, despite the fact that it should be the best thing a person can do for himself. My gains from stocks and cryptocurrencies are still having a significant impact on my fortune. So I have no inclination to rely entirely on my pay or to wait for the market to go up.
Your business will make you rich but your investment will make you wealthy. We all deserve to be rich and have financial freedom. I pray everyone reading this becomes extremely successful.
Now is the best time to purchase and invest in bitcoin, stop procastinating
@@nancylynn6534 Investing in crypto is the most profitable investment due to its current rise, huge profits and future benefits.
Cryptocurrency will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my 1nvestment
I'm new to bitcoin trading, how can I go about it or is there anyone you can refer?? 🙏🙏
what, no "30 under 30" bullshit from Forbes ?
I need some assistance because I've been investing poorly and wish I could make weekly income.
Negative habits like procrastination, distractions, and doubts may all be broken in order to help you reach your life objectives and save money for investments. In order to help you change these poor habits and make prudent financial decisions, you can also engage with a professional.
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🤔
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Transgender is not my view. My perspective is different but these transgender people are entitled to have their perspective too.
Peter S. Saly hyper-sexualized culture is what it is to me but to them it is not
For me, it is too much sexual stimuli. Stimuli is stimulation. 😕 To them they seem to like lots of sexual stimulation.
If they were focused on economic development and community revitalization then they wouldn't be so worried about sexual stuff or gender identity issues
Housing and food and transportation are my priorities
When there is physical safety then it is okay to dress that way
People should be able to tell by the way women are dressed and the clothes that they wear, the physical safety in the environment that they are in
It is usually men male gender that patrol clubs and recreational events to provide physically safety to environments.
Women don't dress certain ways when there are physical safety issues
Also food and transportation and housing are necessary for financial stability to dress certain ways. The clothes that women wear should tell you a lot about the environments that they are in
Improve the physical environment of neighborhoods
Increase financial stability and mobility
Engage and support youth
Additionally, this Guide focuses on violence intervention and deterrence through group violence intervention, relationship-based street outreach, and hospital-based intervention and provides several community examples.
Reply1m
While the pandemic has exacerbated contributing factors to community violence, the root causes can be traced to decades of disinvestment and economic isolation in certain communities, disproportionately impacting rural geographic areas and caucasian community's neighborhoods. HUD has made billions of dollars available to help communities prepare for, prevent, and recover from the impacts of the coronavirus pandemic. These funds can also be leveraged to address the causes of community violence and help build stronger, safer, more equitable, and ultimately more resilient communities.
Reply1m
While the pandemic has exacerbated contributing factors to community violence, the root causes can be traced to decades of disinvestment and economic isolation in certain communities, disproportionately impacting Black and Hispanic neighborhoods. HUD has made billions of dollars available to help communities prepare for, prevent, and recover from the impacts of the coronavirus pandemic. These funds can also be leveraged to address the causes of community violence and help build stronger, safer, more equitable, and ultimately more resilient communities
This may sound racist....but I'm gonna miss white people when there are less of them around. Whites in general really look after their neighborhood and own community. I'm a brown person but last 30 years have seen the decline of whites and along with it the decline of United States.
all races are capable of good and bad. In the usa, whites were given adavantages from the government so they were less likely to become poor and commit crimes.
Colour has nothing to do with it. It's poverty or lack of it that makes the difference.
I'm not saying that I'm ignoring years of slavery but black people should stop spending time screaming racism. Black Americans have a lot of opportunities in their grasp, whites are no longer chaining you like if you want to be respected work yourself out of your situation with your individual skill set. People complain about ethnic inequalities among high net worth groups but this white dude here is a billionaire and someone like him shouldn't have to be called racist just cause he's rich. A white person is a person too and if they can achieve it so can you.
Why do Black people not from america, who don't descend from the black people who built this nation that even made a way for you to be here, always have the most negative, nonsensical things to say to the very people who paved the way for you to even be here?..... you can achieve without knocking the very BLACK people who paved the way today that wasn't available a short time ago....
🤡 Meanwhile, we need those of you from Mother Africa to work on owning the resources that unfortunately are owned by people who are not even from there.....
Well said.
@@ibrahimnsangou3670 naw…. It was unnecessary like this comment when the post had nothing to do with the context of the comment. 🚮 🗑️
It's important to read the room, This comment is out of line.I am African, and I hate when Africans are this insensitive. You have clearly have never sat down with a black American to understand the systematic racism that exists.
Real estate is just another system of controlled division. . not that anyone here cares. . as you are too busy trying to outbid each other for properties. . to sell back to your countrymen at a 300% markup. . yall all are a bunch of backstabbing hypocrites!!!
Dude uses investors hard earn money to build himself a race team and Lux car garage… very “ethical”. Guaranteed bankruptcy and money losing if u invest
Thanks for sharing this insightful tips! i,ve gain so much knowledge about trading! I'm so excited I've been making $7,000 and above every 12days
Buddy, how can I have a life like you, I'm totally new to trading! Any consistent strategies?
@@muhammadsamir132 My tutor is '"Scott Phillips, I watched a news interview on where he was featured during an IPO and spoke proficiently, caught only his name and did a search later online
@Patrick Susie How do I get to reach or comunicate with Scott Phillips?
@@joshgray2399 His available is assured
Viaa wats app
Congrats , good worker. good job. Bless your family, dad. Hero, America hero. better than socialism.
AT&T TELECOMMUNICATIONS -1984-2023-106 BILLION DOLLAR💰 MKT CAP - AMERICA -1 ST CELLULAR DATA SELLER COMPANY
ฉันพูดเสมอว่าเมืองใหญ่ทำลายคนเมืองเล็กสร้างคน ชนบทไม่มีคนเร่ร่อนถึงจะมีก็น้อยมาก
Cool
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