Under CEO M Patrick Carroll, CARROLL Real Estate Investments Thrives Despite Pandemic
M. Patrick Carroll has worked in real estate for his entire career. As the founder and CEO of CARROLL, a leading real estate investment firm on the East Coast, M Patrick Carroll bought and sold his first property at age 21 after moving to Atlanta. Carroll took the money he earned from that sale to buy and later sell a 150-unit multifamily housing development. He purchased three property management businesses with 20,000 individual rental units between them. M. Patrick Carroll launched his real estate investment firm in New York City in 2004.
How20 Years in the Real Estate Industry Helped Carroll Survive the Pandemic
M. Patrick Carroll leads one of the most successful privately-owned real estate investment companies in the United States despite having never attended college. He takes great pride in being a self-taught professional and feels this ability was a big asset to him throughout the pandemic. Having successfully overcome numerous challenges over the course of his 20-year career, Carroll knew he had the skills to survive this one too.
The sudden and unknown nature of the pandemic initially caused Carroll to feel anxious. However, he has always been an optimistic person and felt he had to model a positive, can-do attitude to his employees. Carroll makes it a point to wake up every morning feeling optimistic, no matter what. He feels it gives him a big advantage over the competition, especially those prone to react with panic to every change in the real estate industry.
Another thing Carroll stressed to his employees in the early days of the pandemic was to be compassionate to each other and the people they serve. CARROLL has positioned itself as a solution provider, and its founder insisted on leading by example. He also added that the willingness to adapt and take a proactive approach to every situation has helped his team perform well and not succumb to stress-related illnesses.
M.Patrick Carroll Talks About Renting Units in the Multifamily Property Industry
Some real estate investment businesses focus heavily on acquiring the perfect mix of rehabbed and new properties, but that has never been Carroll’s style. He is much more concerned that the properties his company invests in have positive rent rolls. As the CEO of CARROLL, M. Patrick Carroll enjoys looking at rent rolls and seeing client representation from a wide range of industries. He also likes to see a variety of employers rather than having most of his clients work for the same company.
CARROLL owns more than 30,000 East Coast commercial and residential properties. The company, which now has locations in seven states, has managed more than $5 billion dollars of client assets in the past 17 years. CARROLL started as a single regional company and quickly became one of the largest players in the real estate investment market. M. Patrick Carroll hopes his story of not attending college but still starting a business at age 21 will inspire a new generation of entrepreneurs. He feels it gives him a big advantage over the competition, especially those prone to react with panic to every change in the real estate industry.
