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Building a $12 Billion+ Real Estate Empire - Patrick Carroll - Founder and CEO of CARROLL
Manage episode 448723237 series 3560640
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Patrick Carroll is the founder and CEO of CARROLL, a prominent real estate investment company. From a young age, Patrick Carroll envisioned building a real estate company from the ground up. The ambitious entrepreneur leveraged what was initially a multi-family and retail assets company into a leading real estate empire.
As CEO, Patrick helps define and implement strategic plans designed to further expand all facets under the CARROLL portfolio. As a disciplined investor, Patrick carefully balances acquisitions and dispositions, and has led to $12.1 B in acquistions and $8.8 B in dispositions of multifamily real estate producing an average gross IRR of 29%.
Founded in 2004, CARROLL marked the beginning of Patrick’s real estate investment and development career. Patrick’s early success in the industry came from residential investments and developmental projects across the Southeast, which, in turn, produced the opportunity to develop retail centers, mixed-use properties, and student housing.
In 2009, Patrick acquired three property management companies, creating the large-scale infrastructure for what CARROLL is today. Compounding on his experience with investment, property management, development, and construction, Patrick has taken a modest initial investment and cultivated that into a 30,000-unit portfolio.
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Topics:
(00:00:00) - Intro
(00:02:41) - Patrick’s transition from house-flipping to multifamily
(00:14:07) - What was your deal criteria early on?
(00:19:42) - How were you finding deals?
(00:23:30) - How did you scale?
(00:31:54) - Building a profitable management company
(00:33:55) - Raising capital & getting deals done
(00:49:14) - The buy-fix-sell strategy
(01:06:18) - Pausing deals post-covid
(01:08:51) - Selling the business
(01:17:03) - Thoughts on the market today
(01:24:24) - Mental health
(01:29:35) - What’s your favorite hotel?
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