In this episode, hosts Tait Duryea and Ryan Gibson deliver an in-depth, pilot-friendly primer on syndications and passive real estate investing. They break down the risk spectrum from core to opportunistic deals, while sharing real-world analogies and experiences from their own projects, like the Canyon City land entitlement.

Learn how to properly evaluate risk-adjusted returns, the importance of DSCR vs LTV, and what preferred return really means in a syndication waterfall. This episode is a must-listen for high-income professionals looking to navigate passive investing with clarity and confidence.

Show notes:

(0:00) Intro

(02:23) Active vs passive investing explained

(04:03) Is syndication risky? Understanding real risk

(05:22) Core, Core Plus, Value Add, Opportunistic defined

(10:11) Operational vs physical value-add

(13:35) What are risk-adjusted returns?

(17:19) How leverage impacts risk

(20:02) DSCR vs LTV: What's more important?

(22:59) Preferred return vs cash flow

(33:50) What is an accredited investor?

(18:55) Outro

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You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.

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See you on the next one!

*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.

In this episode, Tait Duryea flies solo to spotlight a powerful tax strategy many high-income earners overlook: real estate professional status. Featuring Brandon Hall from Hall CPA, this episode breaks down a real tax court victory by a harbor pilot who leveraged a flexible W-2 job schedule to claim REP status and unlock massive tax savings. Discover the legal requirements, the importance of documentation, and how pilots are uniquely positioned to take advantage of this IRS loophole—a must-listen for anyone serious about turning real estate into real tax strategy.

Brandon Hall is a CPA and the founder of Hall CPA, a firm specializing in real estate tax strategy. Known for his deep understanding of IRS code and investor-focused guidance, Brandon walks through a landmark tax court case that underscores how full-time professionals, including pilots, can successfully claim real estate professional status.

Show notes:

(0:00) Intro

(01:13) History of passive activity rules

(02:49) Short-term rentals vs. REP loophole

(04:33) Why pilots are uniquely eligible

(05:29) REP for married couples explained

(06:49) Brandon Hall sets up the case study

(09:12) Mr. Miller's job and schedule details

(13:18) Proving material participation

(16:31) The grouping election mistake to avoid

(19:24) Outro

Connect with Brandon:

• https://bit.ly/HallCPA - Recommended CPA for real estate-focused tax strategy

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You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.

Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/

Join our growing community on Facebook: https://www.facebook.com/groups/passivepilots

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Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com

See you on the next one!

*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.

Hosts Tait Duryea and Ryan Gibson welcome financial strategist Brian Herriot for a thought-provoking conversation on redefining retirement and wealth. Explore the power of time freedom, why cash might be your most underappreciated asset, and how to build passive income streams that work for pilots and professionals alike. Brian shares practical tactics for holding liquidity, investing for lifestyle flexibility, and balancing entrepreneurship with financial security. Discover a fresh framework for achieving more life long before 65.

Brian Herriot is a financial advisor and founder of Herriot Business Consulting, where he specializes in guiding entrepreneurs and high-income earners through strategies that prioritize flexibility and purpose over traditional retirement timelines. With a rich background in consulting and business, Brian brings a refreshingly holistic approach to financial planning—centered around "time freedom." He helps clients structure their finances to enjoy life sooner, with smart cash management, passive income, and intentional lifestyle design.

Show notes:

(0:00) Intro

(02:38) Meet Brian Herriot and his unique financial philosophy

(07:04) Time freedom vs. traditional retirement

(09:53) How Brian redesigned his life post-2020

(16:49) The 10–30% cash rule explained

(22:09) Ticker symbols for high-yield cash storage

(24:55) Best passive income streams for pilots

(27:49) How to prioritize investments by liquidity

(36:23) Financial planning for pilot-entrepreneur households

(38:50) Outro

Connect with Brian Herriot:

• Website: https://www.herriotconsulting.com
• LinkedIn: https://www.linkedin.com/in/brianherriot
• Time Freedom Calculator: https://timefreedomcalculator.com/

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You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.

Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/

Join our growing community on Facebook: https://www.facebook.com/groups/passivepilots

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Get our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/

Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com

See you on the next one!

*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.

In this episode, Tait Duryea and Ryan Gibson are joined by James Spearman, owner of Spearman Aircraft and Iconic Rides. James walks through his journey of acquiring and scaling an aircraft maintenance business through seller financing, boosting its value through streamlined systems and strategic marketing. He shares the mindset and steps that helped him turn a struggling shop into a seven-figure operation while positioning it for future passive income or a high-multiple exit. If you've ever considered buying a business, this episode is packed with tactical insights.

James Spearman is a military-trained pilot, licensed aircraft mechanic, and savvy entrepreneur based in East Tennessee. He owns Spearman Aircraft, an aviation maintenance business he acquired through seller financing and scaled tenfold, as well as a seaplane business offering flight training and experiences. James blends hands-on aviation expertise with smart business systems, marketing, and mentorship to create scalable, profitable ventures.

Show notes:

(0:00) Intro

(04:23) Early side hustles and real estate

(05:39) Zero-down business acquisition

(07:53) Seller financing and boomers retiring

(12:28) Why buying what you know matters

(16:07) Learning marketing through necessity

(20:53) Coaching and investing in yourself

(31:34) Building operational systems

(36:38) Preparing a business to sell

(43:18) Outro

Connect with James Spearman:

• Website: https://www.spearmanaircraft.com

—

You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.

Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/

Join our growing community on Facebook: https://www.facebook.com/groups/passivepilots

Check us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/

Follow us on X @IncomePilots: https://twitter.com/IncomePilots

Get our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/

Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com

See you on the next one!

*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.

In this episode, Tait Duryea and Ryan Gibson sit down with Michael Meylor, a seasoned pilot and self-storage investor who has built an impressive portfolio without raising outside capital. Michael shares how he transitioned from military to commercial flying, how he and his wife started investing in single-family rentals, and why they pivoted to commercial self-storage. The episode covers everything from identifying the right-sized deals to financing with SBA loans, and even touches on family involvement, tax strategies, and the realities of active vs. passive investing.

Michael Meylor is a major airline pilot and former military aviator who has successfully built a self-funded real estate portfolio focused on self-storage facilities. With a background in tech and an MBA, Michael applied his analytical skills to real estate investing, scaling from single-family rentals to large commercial properties. Alongside his wife, he’s built a lean operation and shares practical insights into active investing, SBA loans, and family wealth-building strategies.

Show notes:

(0:00) Intro

(02:32) Overcoming fear of real estate investing

(06:21) Why self-storage and the first deal

(09:36) Adding value and refinancing strategy

(12:35) Learning financial modeling and analysis

(18:06) Where to get educated in self-storage

(23:34) Minimum viable size for self-storage

(27:11) Active investing: The reality check

(35:09) Why go active? The long-term upside

(45:22) Most surprising lesson from investing

(48:18) Outro

Connect with Michael Meylor:

• LinkedIn: https://www.linkedin.com/in/michael-m-4588101a/
• Website: https://greenlightstorage.com/
• Email: Michael@GreenlightStorage.com

—

You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.

Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/

Join our growing community on Facebook: https://www.facebook.com/groups/passivepilots

Check us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/

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Get our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/

Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com

See you on the next one!

*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.

In this episode, Tait Duryea and Ryan Gibson sit down with retired airline captain and seasoned investor Tom Force to discuss a real estate strategy many overlook—note investing. They cover tax strategies, risk management, and how to get started in note investing. If you’re tired of tenant headaches and want to invest like a bank, this episode is for you.

Tom Force, a retired airline pilot and real estate investor, found financial freedom through note investing. After years in rentals and development, he shifted to this truly passive strategy. Now, through Note Club USA, he helps pilots and investors build wealth with real estate notes.

Show notes:

(0:00) Intro

(04:46) Getting started in real estate investing

(09:16) Why Tom transitioned to note investing

(11:31) The appeal of note investing for pilots

(20:34) How note investing compares to rental real estate

(24:05) Why banks & investors sell mortgage notes

(28:56) The risk vs. reward of note investing

(35:35) Steps to start investing in notes

(38:09) Seller financing strategies & tax benefits

(45:18) Outro

Connect with Tom Force:

• LinkedIn: https://www.linkedin.com/in/tomforce/
• Website: https://noteclubusa.com/

—

You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.

Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/

Join our growing community on Facebook: https://www.facebook.com/groups/passivepilots

Check us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/

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Get our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/

Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com

See you on the next one!

*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.