#126 - Early Real Estate Mistakes and Lessons Learned

Passive Income Pilots

What separates pilots who want to invest from those who actually succeed?

In this episode, Tait Duryea and Ryan Gibson share the real stories behind their first deals, the mistakes they made, and the lessons that still guide them today. From disastrous single-family rentals to managing multifamily properties, they explain why failure is often the best teacher and why no one should try to “lone wolf” their way through real estate.

They also highlight the power of networking and why being “in the arena” matters more than sitting on the sidelines. This is a practical, no-fluff conversation about education, community, and action for pilots and high-income professionals looking to create passive income.

Show notes:

(0:00) Intro

(03:42) Why in-person networking is essential

(07:03) The ballroom vs. hallway test for experience

(12:56) The reality of early rental property mistakes

(15:35) Why you can’t “lone wolf” real estate investing

(20:17) The “man in the arena” mindset for investors

(26:18) Turbine’s horizontal integration vs. Spartan’s focus

(30:19) Outro

Helpful Links:

Houston Bus Tour Registration: https://www.eventbrite.com/e/houston-self-storage-portfolio-bus-tour-tickets-1591575237379?utm_experiment=test_share_listing&aff=ebdsshios&sg=ed19105646f93b16506dd629ad293a6953b60f4c21904c87d174147bc25617d71f6099f588a1abb3a895fbbeef2578e057d6effbb7d6e124cd35f68fece2d51827faa0c5beabab7ede30c93969

Turbine Capital Investor Weekend RSVP link: https://luma.com/8eryqndb

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*Legal Disclaimer*

The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.