Maury and Daryl Carter in Forbes Magazine

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Maury and Daryl Carter in Forbes Magazine

Maury and Daryl Carter in Forbes Magazine

by:
jtracy
May 1, 2017

Carter's first deal was in 1963, when he and his brother-in-law scraped together the money to buy 40 acres southwest of Orlando for $1,000 an acre. Within a year they made most of their money back by selling citrus from some orange groves that came with the property, as well as selling fill dirt for the construction of a nearby highway.

Carter- and the rest of Orlando- really hit pay dirt a year later when Walt Disney bought 30,000 acres 3 miles away for Walt Disney World, instantly tripling the value of Carter's property.

Did Carter know Disney was coming? No, but he figured somebody would. "I thought it was a good investment with or without Disney."  Maury and Daryl Carter in Forbes, June 21, 1993, pages 178-180, "The Ultimate Inflation Hedge."

Listen as Maury L. Carter talks about learning the real estate business from J. Rolfe Davis and then starting his own company, Maury L. Carter & Associates in these excerpts from an oral history interview with Mr. Carter at his Orlando office on October 26, 2016.

LISTEN Part II (19:52)

While I was at Martin I got an offer by Rolfe Davis to go into, because I was part time real estate, and I got an offer by Rolfe Davis that was a lot more than I was making. I mean, I was making a good salary. I was in a management position which was a very good salary. But he made it even better and I thought it was time for a career change. So at age 39, Rolfe Davis made me an offer. And it's interesting there I had a chance to work with Baltimore and what happened up there - got down here and I had a chance to work with the man that made it all happen. I couldn't have a more exciting career. Got down here and got to work with the guy that made it happen on both ends.

But, a while after I was, after that I left Rolfe Davis and he was retirement age, he retired. That's when I started my own company... He had commercial and residential that he was involved in. I've never worked residential. That's more on the retail end. What we do is we work on - when I started with him on land and land development and big projects, you know. We do not do half acre lots... But yeah, it was all Central Florida. But we do projects other places, too. We've been involved in Georgia, Texas, Virginia. But this is our home base here and 95% of it is in Central Florida, big Central Florida. We go down to south Florida some and some in Jacksonville, Tallahassee. But most, the biggest part of it, there's enough to do right here.

Did you learn a lot from J. Rolfe Davis?

Oh yeah. I guess you'd call him my boss, but I told him after he retired, he never asked me or told me to do anything. He was a consultant. He was a top level person, you know.... The thing about it, being the mayor, he was the chairman of the county commission at one time, and mayor of Orlando when Martin moved here. So he knew, if I was dealing with somebody on a real estate situation - Rolfe, what do you know about this? Oh, he's so and so... So he was an excellent consultant. But if you asked him to prepare a contract or something like that no that's not something he would have done. But early on no doubt he would.

So it must have been a big switch from working at Martin to getting into real estate?

Well, yeah. I always liked real estate. I liked Martin and I liked real estate. I did a lot of part time work in real estate when I was at Martin and so I liked that. And I liked Martin so when I got a chance to get into real estate and make a lot more than I was making there I left. I left a lot of friends there, too. I don't think I made any enemies there because they offered me three times to come back. They called and said, "You doing okay? We have an opening, a situation here." "No, I think I'll hang on." But they were good about that...

LISTEN Part III (21:40)

What was it like starting your own company?

Good and bad. You know when I started a company- before when I was with Rolfe Davis he had staff people. If I needed a supply, if I needed information, if I needed maps, if I needed whatever, I had somebody there with assistants who would do that. The biggest shock when I left Rolfe Davis and went into real estate on my own was the cost of insurance. You know at Martin I had an insurance plan there, you know, major medical and retirement. And then I left and I was sort of out on my own and I got to do that.

Would you tell us about the company, projects you've worked on... in our area?

It's different because see in a real estate thing when a transaction occurs, if we were - we wouldn't tell anybody right now. No, we trust you. But it's a practice of Florida Statute Chapter 475 that says that if you reveal information, client's information or what have you, if we're working on a project here and we start talking about it and people aren't supposed to know about it, my license could be in jeopardy. But once it closes I can tell you everything. I tell our people: Do not talk about this. But then I said, "When it's closed you can tell the world if you want to no matter because it's public record. I mean you can go down to the county, Orange, Seminole, Osceola wherever the deal was because it's there, you know....

Over the years have their been certain projects that you were particularly pleased with having been involved in as far as your contribution to our community?

I'm very lucky there are dozens of them. Well, number one, I think, we handled the Lake Nona , the medical city there. We handled the Keene's Point, Metrowest, the Lake Sumter College and hospital out there, twelve hundred and fifty seven acres that we developed there. And then we did Harmony, a 10,000 acre project down in Osceola County that was ours and then so many others. But we see those are deals we've done, public record. But, I think, fortunately with the help of a lot of people nobody in the area has done as much on land acquisitions, investment, and development as we have....

Article courtesy of Maury L. Carter & Associates 
 

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