Tait Duryea sits down with Ben Fraser and Dan Schulte of Aspen Funds to unpack why industrial real estate is entering a new growth cycle driven by reshoring, supply chain risk, and shifting global trade. They explain how the Industrial Growth Fund targets raw land along the I-35 corridor, capturing value through entitlements, development, and strategic exits. From Kansas City’s “Golden Triangle” to Wichita’s industrial resurgence, this episode breaks down why smaller, flexible facilities are outperforming mega-warehouses and how investors can participate earlier in the value creation process.

Show notes:
(00:00) Industrial Growth Fund Overview
(03:42) Why Global Supply Chains Are Shifting
(05:35) Reshoring And Industrial Demand Surge
(08:25) Why The Midwest Is Winning
(10:18) Why Start With Raw Land
(13:47) Kansas City’s Golden Triangle
(17:58) Infrastructure, Labor, And Tax Advantages
(22:29) Multiple Exit Paths Explained
(26:28) Assets Already Inside The Fund
(36:01) How And When To Invest

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

Tait Duryea and the Turbine Capital team welcome W. Schreiner Parker of Rystad Energy for a grounded, data-driven look at Venezuela, global oil supply, and what energy investors should actually be paying attention to. This episode cuts through media hype to explain why Venezuela’s production recovery is far slower and more capital-intensive than headlines suggest, how OPEC and geopolitics really influence pricing, and why oil and gas remain a long-term allocation rather than a short-term trade. A must-listen for pilots and high-income investors navigating volatility with perspective.

Show notes:
(00:00) Venezuela market overview
(03:22) Why this isn’t a supply shock
(05:41) Capital required to restore production
(07:54) Why majors avoid Venezuela
(11:02) Short-term oil oversupply outlook
(11:48) Long-term bull case for oil
(18:12) Venezuela and OPEC membership
(23:20) True reserves vs. headline numbers
(26:15) LNG, AI, and natural gas demand
(34:09) How oil investments create value

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

Tait Duryea and the Turbine Capital team host a timely Hangar Talk focused on the Iron Horse Energy Fund as the funding deadline approaches. They break down current asset acquisitions, targeted 2025 tax benefits, funding flexibility, and how oil and gas pricing impacts performance. The conversation also covers IRA reporting, Roth conversion strategies, and why this fund structure offers flexibility unmatched by traditional real estate deals. The episode closes with a look ahead at 2026 opportunities, including industrial real estate, oil and gas, and upcoming investor events.

Show notes:

(00:06) Iron Horse fund deadline overview
(01:23) 21 assets and 86% write-off target
(02:07) Oil, gas, and basin diversification
(03:30) Funding deadlines and flexibility explained
(05:47) Dashboard funding and address updates
(07:53) IRA fair market value reports explained
(10:12) STR loophole vs Iron Horse comparison
(13:08) Portfolio updates and active projects
(14:24) 2026 pipeline and industrial strategy
(17:32) Roth conversion tax strategy explained

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

Tait Duryea connects with Ellis Hammond from Aspen Funds to break down how private credit works and why it has become one of the most compelling strategies in today’s market. They walk through fund structure, deal selection, capital stack positioning, and how private credit can generate steady returns with less volatility than traditional equity investments. You’ll also hear how macroeconomic shifts, tighter bank lending, and disciplined underwriting have created unique opportunities for investors seeking consistency, diversification, and tax efficiency.

Ellis Hammond is the Vice President of Capital at Aspen Funds, where he oversees capital development and works closely with the acquisitions team on private credit investments. A real estate investor for nearly a decade, Ellis brings hands-on experience in underwriting, deal structuring, and portfolio management.

Visit the deal room.

 Show notes:
(00:13) Ellis Introduces Aspen Funds
(01:14) What Makes This Private Credit Fund Different
(06:32) Understanding the Capital Stack
(08:13) Interest Rates, Inflation, and Market Shifts
(10:52) Why Private Credit Is Growing Fast
(12:22) Fund Structure and Investor Options
(16:29) Loan Committee and Deal Approval Process
(20:01) How Returns Are Generated
(24:26) Why Borrowers Use Private Credit
(32:02) Key Reasons Investors Choose This Fund

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

Tait Duryea hosts a wide-ranging Hangar Talk covering investor updates, Iron Horse performance, and how Turbine Capital is positioning capital heading into the next market cycle. He explains recent returns from Iron Horse, clarifies fiduciary responsibility, and outlines why natural gas may be the smartest way to participate in AI-driven demand without taking data center risk. The conversation also explores self-storage, industrial real estate, bonus depreciation, and why the next 12–18 months could present a prime buying window for disciplined investors.

Show notes:
(00:26) Iron Horse sale and investor returns
(01:09) Updating tax addresses and K-1 prep
(03:11) Fiduciary responsibility explained
(06:02) What’s inside the Iron Horse fund
(07:24) Energy funds returning next year
(12:21) Reef demographics and investor outlook
(15:00) Self-storage and industrial real estate outlook
(18:12) AI demand and natural gas strategy
(21:36) Why real estate pricing is stabilizing
(24:13) Bonus depreciation and capital flows

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

Tait Duryea hosts a live Hangar Talk with Mike Peterson from Reef Capital Partners to answer investor questions directly from the source. The conversation covers how Reef reports performance, how quarterly distributions work, and why early cash flow may be lower due to depreciation and tax credits. They break down K-1 taxation, SDIRA and UBIT considerations, reinvestment strategy, and when investors can expect return of capital. Mike also shares insight into future Reef developments, including golf-focused resort communities and the long-term portfolio vision driving equity growth.

Show notes:
(02:40) Reporting and quarterly updates explained
(04:18) How Reef distributions are taxed
(07:12) Why Reef distributes 52 percent
(08:31) Reinvesting profits for higher IRR
(11:00) Future Reef developments overview
(13:31) When investors get capital back
(15:18) SDIRA and UBIT considerations
(18:19) Cocoa Palms project discussion

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

We are thrilled to announce the opening of our Iron Horse Energy Fund, a $100M domestic drilling program offering accredited investors access to high-quality wells alongside major operators like EOG, ConocoPhillips, and Continental. Founder Tait Duryea, joined by Courtney (Iron Horse Energy), Mark Fleming (30-year oil & gas veteran), and CPA Nathan Sosa, break down the macro case for fossil fuels, fund structure, tax benefits, and risk management. Discover how the team built a diversified portfolio across top U.S. basins with low breakeven prices, strong downside resilience, and powerful 2025 tax advantages.

View on Vimeo: https://vimeo.com/1123795259 

View on Spotify: 

Visit the deal room.

Show notes:
(0:00) Intro
(3:08) Courtney’s background and drilling experience
(6:03) Why fossil fuels still dominate global energy
(12:09) Collapse of institutional funding and market opportunity
(19:01) Iron Horse Energy Fund overview and structure
(25:23) Due diligence process with Mark Fleming
(30:30) First Colorado well package and production timeline
(36:49) Fund transparency, fees, and contingency reserves
(44:07) Conservative modeling and downside resilience
(49:34) Tax advantages and IDC explanation with Nathan Sosa
(56:09) Liability, GP/LP transition, and investor protection
(59:52) Risk factors and diversification strategy
(1:08:11) Q&A: oil pricing, contingency, and exit strategy

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

What’s the smartest way to position yourself in today’s real estate market? 

Tait Duryea and Hunter Thompson dissect the capital stack and explain how investors can use private debt, common equity, and preferred equity to balance risk and reward. They reveal why banks hold the safest seat at the table, how leverage amplifies returns, and why PREF equity is gaining traction in today’s market. Plus, they discuss how inflation reshapes wealth strategies, the role of depreciation, and how to think like a sophisticated investor.

To learn more about the Azara Tempe investment opportunity or to submit a commitment, please visit the deal room.

Show notes:
(0:00) Intro
(0:37) Debt vs. equity explained
(3:14) Why banks hold the safest seat
(7:01) Risk, reward, and loan-to-value
(11:05) Equity investors and amplified returns
(20:10) Preferred equity defined and positioned
(23:50) How PREF works in current deals
(28:44) Blended returns with split investments
(31:23) Why PREF equity is capped
(36:07) Understanding accrued preferred return
(39:26) Inflation as real estate’s best friend

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

What does it really take to grow wealth as a high-income professional? 

In this Hangar Talk, the team shares updates on the upcoming Investor Weekend in Colorado, including property tours, golf at Four Mile Ranch, and fireside conversations with oil and gas advisor Mark Fleming. You’ll also learn about the “buddy bidding” program, self-directed retirement accounts, tax strategies like Roth chunking, and how bonus depreciation offsets capital gains; the so-called “lazy man’s 1031.” Finally, the group breaks down the Iron Horse Fund, its tax advantages, risk protections, and long-term potential in oil and gas.

To learn more about the Azara Tempe investment opportunity or to submit a commitment, please visit the deal room.

Show notes:
(0:46) Investor Weekend update in Colorado
(3:29) Buddy bidding explained for investors
(5:35) Investor portal updates and transfers
(7:52) Using self-directed retirement accounts
(12:01) Strategic Roth conversions for pilots
(13:14) Bonus depreciation and the “lazy man’s 1031”
(16:05) Why five-year holds are common
(24:42) Hall CPA and oil & gas tax guidance
(35:39) Iron Horse Fund overview and structure
(39:22) GP to LP transition explained
(45:03) Natural gas, data centers, and energy demand
(51:19) Oil & gas returns vs. real estate
(55:05) Investor protections and contingency planning

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

Join Turbine Capital CEO Tait Duryea and Asym Capital founder Hunter Thompson as they sit down on-site at Azara Tempe. In this 15-minute conversation, Hunter shares why Phoenix remains one of the strongest multifamily markets in the U.S., how today’s challenges are more about financing than fundamentals, and why this property’s location, basis, and conservative debt structure make it a compelling opportunity for investors.

To learn more about the Azara Tempe investment opportunity or to submit a commitment, please visit the deal room.

Show notes:
(0:00) Intro
(0:52) Multifamily as real estate’s bread and butter
(3:37) Why multifamily remains a core strategy
(4:42) Competitive edge: specialization and localization
(6:40) Defensible underwriting and risk management
(9:02) Rent growth reversing in Phoenix market
(12:00) Why the seller is selling now
(15:04) Turbine’s GP role and capital commitment

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital