This Thrill-Seeking Billionaire Made A Fortune In Luxury Apartments
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- Опубликовано: 3 авг 2024
- Larry Connor made a fortune in luxury apartments by obsessing over the smallest transaction. His strategy has paid off for years, but now that the market has shifted, how close to the edge is he willing to go?
“You’ve got to be willing to take calculate risk, not stupid risk,” Connor says. That has been a winning strategy for him and his real estate firm, the Connor Group, which has led to three decades of astronomical returns and a $2 billion personal fortune.
Since he cofounded the business in 1991, its investments in luxury apartments have generated an annual rate of return of 30.4%. That’s almost unheard of in an industry in which titans such as Blackstone and Brookfield have posted returns of 16% and 18% in real estate, respectively, since inception.
0:00 Intro
0:52 Who is Larry Connor?
1:15 Entrepreneurial Journey
4:11 Formation of The Connor, Murphy and Berman Group
5:25 Methodology for Success
6:52 Thrill-seeking Adventures
8:11 Philanthropic Pursuits
11:01 The Greater Dayton School
13:44 Larry the Leader
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The guy Grant Cardone wishes he could be 😅😂😂😂
🤭
Larry is 1 million times the man grant the charlatan will ever be.
Facts 😂😂😂
This guy is the definition of what it means to be American!
1:05 his profile looks very greek tho 😁
Ask his tenants what they think about him. He got rich by being a lying bully.
Larry Connor's journey from a 2.0 GPA to a $2 billion empire proves that success isn't about where you start, but where you're determined to go.
Wrong. His climb is all about conning his tenats. Go live in one of his luxury properties and report back on what a "great" man this is.
@@feelfreetopanic1542 How could he con his tennants on that scale for so long? No word of mouth spreading?
@@mamusichmilan7729Larry Connor goes after tenants with defamation lawsuits for posting the truth about his corporation. Look up The Connor Group v. James Raney...messy
his journey from a self-described C student to a billionaire real estate investor is truly inspiring! His focus on developing systems, processes, and strategies in the real estate industry showcases the importance of innovation and perseverance in entrepreneurship. 💡
Go read about what his tenants think of his "truly inspiring" business tactics. This guy is a slum lord and doesn't care about anything or anyone but himself
A C student can get A’s if they put in the work or change schools. Most people don’t get C’s consistently. Obviously that was his WORST grade which means he got A’s and B’s too. He always had it in him. He just had to find the right field in which he was willing to put in the work.
@@Ashnesss too bad where he puts in the work is in conning his tenants and running slums
This is what it means to do things right, its not just the money once you are up there, its helping others the right way.
Sadly he wants to die now
I’m not trying to throw shade but why are they emphasizing so much that a billionaire gave away 1.6 million between 400 people that work for him that’s only 4K a person…
Right, if he gave away, $25k it would be a bit more impressive but $4k I can give that away lol!
That’s more than the government gave us
He didn’t have to give anything away, but he wanted to help some way and he did. Rich people don’t owe anything to anyone. The ones who have a moral compass, however, seem to do what’s right. And he did just that!
I also think it’s so cool that these kids are getting a chance to have a better life from getting a great education and needed healthcare. May these kids change the world for the better, because God knows we need that.
@@heartofthematter6691 the fed gave him cheap money and raised real estate prices and rents. I'm sure he's good guy though.
Remarkable story. Thanks for sharing!
thank you! finally someone said it. 1:32
Love it. Great guy great mission
We all agree Matthew McConaughey would play this guy if there's ever a biopic, right?
10:00 nice $4K unexpected bonus
Truly inspiring, thanks for sharing!
How do we get in contact with you guy’s-Georgetown SC
Did i hear the dead bodies part right?
wow 2:06 "he'd pick up dead bodies and drop them off for $5 apiece" nice wordplay Forbes, definitely doesn't give off psycho vibes or anything.
I went to comment the same thing. A poor choice of words
@@ruebentauk2938 to say the least 😂
at least he didn't say he found them or created them
These Gen Z youtube journalists have all the linguistic skills of first day intern at the national enquirer. It's embarrassing.
@@creativemindplay dont pin it on Gen Z we are not all the same 😂😂
Sounds like a wholesome life.
this guy has grit, he has commitment to his ideals, fearlessly pursuing his own vision
Go read the BBB reviews. His "grit" is all about exploiting and financially abusing people
He's a lying con artist. Go read the Better Business reviews......
It's not a commitment to ideals that made him rich. It's lying to his tenats and being an outright bully
Wow
Great man 👌👌👌👌👌👌👏👏💯💯💯💯
Wrong. Go read reviews that tenants have left on the BBB. Amazing thay they have an A+ rating yet have hundreds of 1 star reviews and an overall rating of 1 star
Great video!
2:11 "apiece"? Or per body? 😅😅😅😅😅
This guy is a rock star !!! Respect
This guy is a lying con artist
Hes going back In😹😹
If Forbes had any ethics they would go out and interview a handful of the tenats that this man has manipulated and conned.
Where can I read about this?
It's just business.
@@kingstonstreet3726 BBB is the only place they are unable to get reviews removed. Those are authentic reviews by current and former tenats
Over works all his employees and doesn’t pay them over time worked. If you complain, you’re not “all in”.
Their motto "do the right thing"😂😂😂 this guy literally is a lying con artist.
do you think with the times and situation now, it is hard to have a repeat'ish journey with the apartment part plus now there are probably super unions that you can no longer milk the corn...? though I guess now if you are not better or cheaper than AI you are not in at all, get the box and get you know where?.....I guess no one is perfect tho people/employees what not believed him enough like in a Maddoff kind of way so I guess its easier to milk once you get to a certain stage....'what you can still participate in elections if you are in jail...was my latest discovery'....its always whats not said right? (next time remember to read the nano print)
Nice
… go actually visit one of these “luxury apartments”
Mice, mold and trash everywhere
Larry Connor lives in a fantasyland! Luxury his apartments are NOT. I cannot imagine being this out of touch with reality.
Ray Dalio also rated his employees. Interesting management.
*in* luxury apartments.
The forbes richest billionaires of the world including the Hilfigers and Vanderbilts and Churchill's and the chanel family dystany
Amazing guy..
Ask his tenants what they think about him. Slum lord
So amazing. Roach and rat infested properties that he claims are "luxury" go read the BBB reviews on this slum lord
This the story I wanna hear ,the stuff of legends,never give up mentality …great content Forbes keep them coming🫶💪
This guy is a con artist that financially abuses tenants. Look into it.
The dead bod part sounds like its been written by chatgpt
so cool, very smart guy
Yeah. He's so smart he somehow has an A+ BBB rating with literally hundreds of 1 star reviews. He's a liar and con artist. Look into it
@@DevlinAdams-dp4nm sorry aint got time
So very cool. Finacially exploiting tenants is so cool
@@PS-rl8tv the smart prevail
Says a lot about you. @@turboZ3
Really inspired by this👏👏
Inspired by a slum lord? Go look at the BBB reviews of the Connor Group and reasses who you idolize.
You want to be a slum lord as well!? That's awesome!
@DevlinAdams-dp4nm Just responded to what I saw,wasn't aware he was carrying any baggage ,I'll check it out.
Bor
Aka money laundering
My hats off to him😅😅😅😅😅
So he gave $4000 bonuses to all of his employees?
Lol. If you want to call it that. It’s a contract if you accept the money you have to stay for 2+ years and if you get fired or quite they sue you and harass you. So… yea totally gave us money.
He's a con artist. The emplyees need to give it back if they ever leave. They also sign NDA's to try to keep the sum bag things they do to tenants under wraps. Lying thieves
Dudes, at least he trying. There foreigners who would take that offer in a heartbeat
Tax breaks. Overcharging renters for so called luxury apartments. Loans from investors. It’s not what you know it’s who you know. Plus he’s only telling you what makes him look good.
You just described business 101
like the government would do better with the money? 🤣
Where can find this information?
@qwerty1994ize there's only two types of businesses, one that scams and one that adds
@@Rflows100 you just made no sense
Do you mean "in" luxury apartments, because he worked from "luxury apartments" or do you mean "with luxury apartments"?!
In Forbes fashion, that omitted 3 years is the information we need know!
Great story. What did he do to pay the lenders back the 900k before turning to real estate?
I'm guessing he used the money he cons out of his tenants in roach and mice infested apartments to pay back any debts he once had
No man, I am asking a legitimate question. My understanding was that he was broke at that point, kids, wife and 900k in debt. I am looking to understand how he transitioned from being broke, in-debt to real estate empire.
@akhonamaqwazima5312 @akhonamaqwazima5312 what he does is buy up properties, slaps a "luxury" sign on them, paints them hideous colors, raises rent 20-30%, charges $80-100 per tenant for trash services, starts charging tenants for "common electric", $100-150 for internet (when it shlukd cost aboit $50). He is overcharging for utilities and pocketing the rest . He then cuts staff down to the bare minimum (my building went from 5 full time cleaners to 2 and subsequently the building was always filthy, 2 maintennce men to 1 that didn't know what he was doing) . Cuts down allocations to all amenities in the building (in my building we had a party room we would watch sporting events in, he cut off the cable to the TV, cut off the kusic service to the lobby and replaced woth a tiny cheap speaker), he encorages sales staff to lie to prosepctice tenats (many sign what they are being told is an "application" which they later find out to be a 2 page lease with no out clause), they gaslight current residents by doing a "mandatory" walk then pressuring them to sign a new lease immediately. If the tenats doesn't sign they get hounded relentlessly, maintence requests go undone for months on end due to low/incompetent staff. These are just a few examples. The buidings are filthy, trash everywhere (mold, mice, raccoons, dust,etc) staff lies straight to tenats faces. There is a "bootcamp" incomong staff have to go through where they are encouraged to lie to tenats. Staff gets bonuses based on google reviews so they do/say anything to get bad ones taken down and pay tenats (typically a $25 gift card) as an incentive to post postive reviews and ask friends and family of thiers to leave postive reviews in order to get the bonus. If you complain they have one of their extremely uneducated/wet behind the ears attorneys send you a threatening letter (I personally received one and I am happy to share it with anyone, it is filled with demonstrable lies). This man made his fortune by being a literal lyimg scumbag and I cant wait to see karma get him
I experienced all of this firsthand. If you read the BBB reviews and thier responses to people's complaints you will see how they belittle and lie to maintain their reputation. His business "ethics" and "morals" are less than zero. This man is a lying con artist.
Magbabaja magbabaya dwata
10:03 Best Man.. Gives back to the society.
Yep. And he's doing it will money that he scammed out of tenants that live in his filthy complexes.
Go ask his tenats what they think about him giving away the money he conned out of them to make himself look better
He's giving back with money he conned out of his tenants. Check out the BBB reviews
This is a Big PR package - but good on him if done on a daily.
It's not all done daily it's a facade. Look up The Connor Group v. James Raney. Larry tries to silence his critics with defamation lawsuits 😂 everything James Raney posted was factual.
Smart Leadership.
He's a con artist. Go read the BBB reviews
he did what with dead bodies?!
Get I promise it won’t happen I’m done with it
He looks like David Coverdale
👔✒👒
he was picking up dead bodies?
Wish he would go back to doing that instead of conning his tenants
“The rich get richer” 🙄
he came from nothing and was broke at 40 remember 😂
don't trust this guy
He's a very skilled liar
I could listen to this man for hours. Very intelligent, and he has come a long way.
He's so smart isn't he? He made his fortune lying and manipulating tenats. Go read the BBB reviews and rethink this comment
He is a fraud. Tenants literally hate him. The only people who live in his communities have no other option.
Go listen to some of his sales people lie and manipulate current and future tenants
Sadly, so many people are making negative comments here. If you don't like this man, don't work for him or do business with him. His company is near me and I know many people who have had positive dealings with him.
Go read the BBB reviews and report back. He literally cons every tenant that lives in one of his "luxury" properties. Connor Group took over a building I lived in and I had NO CHOICE but to live under thier rule for 9 months. My utility bills were raised over 200%, trash piled up everywhere because they didn't have maintenence people, they gaslight and bullied me. Larry Connor is a horrible person who built his fortune by lying, manipulating and hiring people who do exactly the same. Some people don't habe a choice to do business with him. When a property is purchased its not as though the tenats can do anything about it and many can't afford to buy out the full lease (which Connor Group requires you to do to get out). I really encourage you to go read the BBB reviews and rethink this comment. Good people are (right now) being victimized by this "man".
@@feelfreetopanic1542 I don't know of any apartment building owner who gets 100% positive reviews. It seems like many never like their landlord. If Larry Connor is doing anything unethical or illegal, I suggest that you (and others) contact those who enforce laws against such activity. As for BBB reviews, I have worked for businesses that received bogus BBB reviews. So, I don't give BBB reviews any credibility. Again, I live near the Connor headquarters and he is loved here.
I also encourage you to go tour one of his "luxury" properties and experience the extreme pressure tactics and outright lies told to to prospective tenants. People tour and are sold one reality versus what his "luxury" properties actually are (mold, mice, dirt, filth, neglect, ignored maintence requests etc.) Amd once you sign that lease (which they will pressure and hound you to do) you are locked in for the full term of the lease. There is no 60 day notice. Once you sign and move in is when you realize how horrific the conditions are and how much you are being illegally gouged. And if you complain you will be met with attorneys letters threatening you. Post a bad review? Another attorney letter threatening you. Ask yourself why there are literally hundreds of negative reviews on the BBB. Go read them. This man takes advantage of hardworking people.
@timheidel5849 The majority of what Larry Connor is doing to make money for himself is illegal. Scamming money out of tenants with fabricated charges under the premise of utilities, junk fees totalling $250-$300/month above the signed rent, providing units with structural failures or code violations and demanding their "leaseholders" pay for the entire term when they've emphasized that they don't feel safe moving into uninhabitable spaces, cutting maintenance back to zero at his properties until residents get the county involved, forcing tenants to wait 3/4 months for repairs instead of 24-48 hours as is industry standard, not providing a notice of any kind to enter apartments when they finally DO feel like performing maintenance, marking repairs as complete with no work done, harassing/coercing tenants to sign renewal agreements at exorbitant increases, disguising leases as applications, refusing to make reasonable effort to sublease units for those who have vacated before the end of their term, discriminating against protected classes. I've had corporate landlords but The Connor Group is on a different level of nasty and manipulative. Larry is a joke to the Dayton and Cincinnati housing community 😂 he is a con artist. If you complain or highlight his behavior to the appropriate authorities you will be bullied into submission by their attorneys. This corporation and this man have serious issues.
@@feelfreetopanic1542 Again, BBB reviews have no credibility with me. And, again, if they are doing anything illegal, you should report that to the authorities who enforce the laws. Connor must be doing lots of things right...many of their/his properties are at or near full occupancy.
Too bad he didn't go to see the Titanic.
The flat broke giving financial advice to the weak and the desperate
Take care and stay safe guys
commercial real estate is in limbo and likely getting worse… here comes the advertisement of a commercial real estate company…. lol.. do the math… bet he is in trouble or he doesn’t need to be on forbes… like SBF lol