Thrill-seeking Larry Connor has made a name for himself not only in real estate but also in extreme adventures such as flying a fighter jet, traveling into space, and diving to the depths of the ocean. His real estate firm, the Connor Group, has seen astronomical returns since its founding in 1991, with luxury apartments generating a 30.4% annual rate of return.
Connor attributes his success to a “transactional model” that focuses on quickly maximizing value in the properties the firm invests in. He keeps properties for an average of five and a half years, compared to publicly traded REITs that hold onto properties for ten years. With this approach, many buildings have been sold within three years of acquisition, with returns ranging from 17% to 159%.
The Connor Group currently owns and operates a $5 billion portfolio of 51 apartment buildings across 12 states, with a focus on maximizing every aspect of the business, from time to money. Top performers at the firm have the opportunity to earn a partnership stake and must consistently perform at a high level to maintain their share.
Despite facing setbacks in his earlier business ventures, Connor’s determination and risk-taking attitude have led to his success in real estate. He has weathered market downturns, most notably during the 2008 financial crisis, and capitalized on opportunities to expand the firm’s portfolio during the pandemic.
While the real estate industry faces challenges such as increasing delinquency rates and a decline in investment levels, Connor remains confident in the firm’s strategy and future outlook. He points to higher rents and a conservative approach to debt management as factors that will help the firm navigate any potential market downturns.
At 74 years old, Connor shows no signs of slowing down and has big adventures on the horizon. With a new venture in the works and a track record of success in both real estate and extreme adventures, he continues to push boundaries and seek out new opportunities for growth and excitement.
