Forbes
@forbes·2.1M subscribers·11.3K videos
How A College Dropout Built A $2.9 Billion Real Estate Empire | Forbes
Posted
April 15, 2023
Views
458,831
Likes
9,745
Comments
205
Engagement
2.17%
April 15, 2023
458,831
9,745
205
2.17%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
9:48Now PlayingLike 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.
Read the full story on Forbes
Subscribe to FORBES
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
Stay Connected
Forbes newsletters
Forbes on Facebook
Forbes Video on Twitter
Forbes Video on Instagram
More From Forbes
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
