Building a $12 Billion+ Real Estate Empire - Patrick Carroll - Founder and CEO of CARROLL

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Mar 26, 2025

Patrick Carroll, founder and CEO of CARROLL, shares his journey from flipping houses to amassing a $12 billion real estate empire. He discusses his strategic approach to managing over 30,000 units, emphasizing the importance of strong relationships and innovative investment strategies. Carroll explores the challenges of navigating market cycles, the nuances of acquiring affordable housing, and the mental health struggles entrepreneurs face. He wraps up by highlighting the significance of authenticity in building meaningful connections and achieving success.

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ANECDOTE

From Flipping Houses to Multifamily

Patrick Carroll's first real estate deal was flipping a house, followed by building spec homes.
His largest pre-2008 deal involved converting a flea market into student housing.

INSIGHT

Early Funding Strategy

Patrick Carroll initially funded deals using 100% financing and home equity loans.
Profits from a successful student housing venture provided capital to acquire property management companies.

ADVICE

Attracting Private Equity

To attract private equity partners, build a fully integrated firm with property management capabilities.
Having a strong property management portfolio makes you appear as a safer bet.

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