Carpenter is building for the future

Larry Carpenter III bought his first rental property when he was a senior at Southridge.

Homes and buildings had always interested him as a child. After learning more about the industry through Dan Holmes, a local landlord and real estate investor, he decided at 18 to pursue the same path. He recognized the long-term benefits of property ownership and purchased one of Holmes’ homes to start.

“First thing that went wrong with it was the air conditioner went out,” Larry recalled. “I was like, well, I’m going to go to school for HVAC because that was expensive to fix.”

After realizing that crawling through tight spaces under homes wasn’t for him, he pivoted to business studies, earning an associate degree in business administration from VUJC. He later completed a Bachelor’s degree in Business Administration at Capella University while working full-time.

Despite the early grind of managing and maintaining his properties, Larry’s drive and vision for his future kept him working hard at a young age.

“All my friends were like, ‘You’re crazy. What are you doing?'” he said, recalling weekends spent painting or cleaning out rentals instead of going to the lake.

His early career included a role in chemical sales, where he was responsible for building a customer base in his territory. During this time, he continued to grow his rental property business and obtained his real estate license.

“I realized that I really enjoyed doing this,” Larry said about working in real estate and the opportunities it afforded him in business and life.

With the expanding property management and sales business, Larry opened Carpenter Realty about 10 years ago.

Now, nearly 19 years after that first home purchase, that early interest has grown into a diverse business portfolio under Carpenter Enterprises. His business footprint extends throughout Southern Indiana, including Dubois, Pike, Orange, and Warrick counties, with some properties in Bloomington and Evansville.

Last week, 2 Sign Guys attached Larry’s logo to the former Herald building at 216 East Fourth Street, the new headquarters for all his companies.

While he and his team have moved into the ground floor, the second floor is being renovated to add offices, conference rooms, a kitchen and a large gathering space. All to support future growth, which includes acquiring other businesses, such as B&B Fitness in Jasper.

When he learned the previous owner of B&B was interested in selling, Larry knew it was another opportunity he needed to consider. As a member there, he saw the potential growth and similarities to property management.

“Your members are essentially renting your space and equipment,” Larry said.

Reflecting his focus on personal growth, Larry also appreciated seeing gym members improve their health and confidence. He wanted to be part of providing those opportunities and more for them.

The decision to buy was a good one. Since then, he’s added a Ferdinand location and is planning an expansion of the Jasper fitness center to accommodate the growing membership.

“I’ve had a bunch of ideas that have me excited about what we could do here,” Larry said.

Thinking about opportunities is ingrained in his life these days. Larry and his wife, Candi, often spend time discussing future ventures together. One recent evening, they talked about opening a smoothie, snowcone, coffee, or pretzel stand on a property they own near the Riverwalk.

They believe the location has potential for a new venture.

Larry credits much of his success to acting decisively when he recognizes opportunities.

“I think a lot of the smart moves I made came from jumping on opportunities when they came and not overanalyzing it,” he said, adding that his best decision was diving into real estate investment at an early age.

He considers any mistakes he’s made along the way as part of a real-world classroom with its own tuition costs.

His business philosophy centers on building relationships and teams. He employs approximately 60 people across his enterprises, including about 30 construction and maintenance workers, 10 realtors, four office personnel, and five employees at his fitness center.

As the company continues to grow, Larry is also thinking about the people who work for him. “There are a lot of people counting on us to continue to grow,” he said. He tells his employees that he wants them to grow with the company.

He also sees the businesses as stepping stones for customers: renters often become future homebuyers.

The goal is to build a legacy for his family while improving the community he calls home. He loves helping others, whether that is investing in their first home or learning more about how to invest in their future.

“It’s rewarding to reflect on how far we’ve come in the past few years,” Larry said. “It’s created a life for me and my family. A great life.”

And he’s not done yet.

“The future is bright.”

Candi and Larry live in Jasper and have three children, Chloe, Kayleigh, and Kolby.