Why I Started Turbine Capital
My name is Tait Duryea. I’m an airline pilot, and a real estate investor. And, by way of my investing journey, the founder and CEO of Turbine Capital.
When I was around 14 years old, I read a little book called Rich Dad, Poor Dad, and as it did for so many others, it radically changed the way I think about money.
After reading that book, it hit me that there was a big difference between making money and earning money. And since then, I’ve been obsessed with achieving enough passive income to support my and my family’s lifestyle– even if I don’t necessarily want to retire early.
It hit me that there was a big difference between making money and earning money.
Although enamored by business and real estate, I pursued aviation in college because was my passion. As a third-generation airline pilot, it was in my blood. I’d been flying small airplanes with my uncles since the time I learned to ride a bike, and I loved to fly.
But when I finally made it to the majors, I felt like something was missing. Pay rates and upgrades were a waiting game, and as great as the income was, it was always going to be capped. Afterall, we can only pick up so much flying.
I was hungry for additional opportunities to create passive income while I slept. And to enjoy more time and location freedom with less pressure to produce the highest possible income flying.
I wanted to be able to travel further and longer on my off days without having to run home to fly a trip... To have the option of taking a “mini retirement” someday in the form of a multi-year leave of absence without fretting about the lost income.
And I wanted to build more financial security for myself and for my family by knowing I had a backup plan if I were to get injured or lose my medical.
All these things, I knew real estate could provide.
So I started saving. And I started investing.
It began small, with a single-family rental in Las Vegas in 2012, and snowballed from there to many rental properties across many states. They were (mostly) good to me… But ultimately, after years spent managing contractors and property managers, comparing insurance policies and selecting cabinetry, preparing financials for refinances… the time, money and location freedom was not what I had hoped for.
Real estate is anything but hands-off.
This is when I discovered Passive Real Estate Investing…
While attending a real estate investing conference in 2017, I accidentally discovered an entirely different way to invest in real estate– with all the cash flow and tax benefits of direct ownership, but without any of the headaches.
They’re called syndications.
Syndication is just a fancy word for, “you bring the down payment and the working capital, I’ll do all the work, and when we’re done, you keep most of the profit”.
As an airline pilot with a voracious W2 income, this was eureka. Not only did these operators put in all the work– they were consummate experts. Specialists in a particular market, property type or strategy the way a physician might specialize in cardiology. Teams of people with deep connections to local brokers and tenured relationships with lenders. Rinse and repeat business plans. Track records of success with well-aligned incentives with their investors.
This newfound ability to leverage other people’s knowledge, network, time and location meant that I could now truly enjoy all the benefits of real estate investing, while also harnessing the freedom piece I was looking for.
Since then, I’ve invested in over 20 syndication deals across multifamily, self-storage, mobile home parks, industrial, short-term rentals and more, and have learned the ins and outs of good deals, not so good deals and everything in between.
More importantly, I’ve now successfully diversified myself outside the stock market and established a rock-solid financial foundation of multiple streams of income which require no time of my own. And I enjoy peace of mind knowing that if things go south in the airline industry, I don’t need the job. I truly can say that I still fly; because I still love it.
So why did I start Turbine Capital?
Well, after years of bumping into countless physician groups who invest collectively in real estate, I decided it was high time there was a group designed for aviators.
It was time pilots had access to relevant, real-world education on the strategies of the ultra-wealthy. And it was time they had access to these superior investment opportunities.
I started Turbine Capital to help pilots learn what I have learned on my investing journey, and to help them shortcut their path to success.
I started Turbine Capital to help pilots more fully support their families. Not only financially, but with their physical presence as well.
And I started Turbine Capital to build the largest network of airline pilot investors in the world.
Because if the legacy I leave is that of helping thousands of other aviators find financial stability, independence and generational wealth, well that’s something worth fighting for.
Turbine Capital specializes in commercial real estate syndication deals for pilots and other high-income w2 professionals. If you’d like to learn more about commercial real estate investing, please join our investor club.
