Early Life
Roy E. Carroll II was born in Greensboro, North Carolina. Growing up in a working-class family, he developed a strong work ethic early in life. At a young age, he worked various jobs, including mowing lawns and working at a grocery store. This early experience instilled in him a practical understanding of business and the value of hard work. He attended the University of North Carolina at Greensboro, but ultimately dropped out to pursue a real estate broker's license, signaling his early interest in the field.
Rise to Success
Carroll's entrepreneurial journey began in 1983 when he co-founded The Carroll Companies with his father as a custom homebuilding company. In 1990, he bought out his father's stake, taking full control of the business. He expanded the company into building subdivisions and, later, apartment complexes. Carroll's strategic vision and commitment to acquiring land in prime locations have been key to his success. The Carroll Companies now owns a significant number of apartments and self-storage facilities across multiple states.
Key Business Strategies
Carroll's business strategy is rooted in buying undervalued land and developing it into lucrative properties. He has focused on creating recurring revenue through rental properties, which has provided financial flexibility. His company's portfolio includes a variety of real estate assets, including multifamily developments, industrial facilities, hotels, and mixed-use lifestyle centers. Furthermore, he has demonstrated a long-term approach, holding onto properties and waiting for market appreciation. He also invested in a local online publication, the Rhino Times.
Philanthropy
Roy Carroll is involved in several charitable and philanthropic endeavors. He launched the "Building an End to Diabetes" program in 2006. Through the sale of new homes, The Carroll Companies has donated a significant amount of money to the Juvenile Diabetes Research Foundation (JDRF). He also supports other causes through the United Way of Greater Greensboro's Tocqueville Society.