Ryan Gibson is a former 17-year Delta and Alaska Airlines pilot turned self-storage mogul, now operating as one of the 29th largest self-storage operators in the country with over $1 billion in assets and 7.5 million square feet under management through his company, Spartan Investors.
In this first of a two-part series, Ryan joins host Chris Pre to break down why self-storage is one of the most recession-resilient asset classes available, how to use seller financing to acquire deals without banks, and what it really looks like to build a 200-person business while still flying commercial jets — and then finally walk away on your own terms.
Key Talking Points of the Episode
00:00 Introduction
01:08 Passive Income Pilots podcast
02:20 How Ryan and Tait met and started Passive Income Pilots
04:48 The importance of financial and time freedom for pilots
06:03 The 3 Paydays System
08:33 Deep dive into self-storage as an asset class
10:09 Why more Americans use self-storage than fly on airplanes
11:08 The 5 Ds of self-storage demand
13:29 Opportunities for mom-and-pop owned facilities
14:02 Competing with "big money" in smaller markets
15:48 Building trust and uncollateralizing notes
17:12 Typical terms for syndicated real estate deals
19:20 Advice for W-2 employees considering the jump into business
21:07 The psychological benefits of maintaining a professional career
24:42 Preview of part 2: Diversification with Tait Duryea
26:40 3 Paydays Live Event
5 Key Takeaways
- Self-Storage Wins in Any Economy — The five D's (Death, Displacement, Downsizing, Divorce, Diapers) drive self-storage demand through recessions, COVID, and market downturns alike. Occupancy often increases during economic disruption — not despite it.
- Avoid Institutional Competition by Going Small — Big money chases 100,000+ sq ft facilities in core markets. The 10,000–20,000 sq ft mom-and-pop space is largely ignored by institutions, which means less competition and far more seller-financing opportunities for individual investors.
- Seller Financing Is About Aligning Motivations — Ryan's first seller didn't want the note paid off because of capital gains exposure. Understanding why a seller needs what they need — not convincing them — is what makes creative financing work. Authentic outreach and trust over time unlocked a $1.1M carry-back note that followed them to the next deal.
- Keep Your W-2 While You Build — Ryan flew commercially for 8 to 9 years while building a 200-person company. For airline pilots with flexible schedules, there's little reason to abandon high W-2 income early. Use the schedule, build with urgency during off days, and only step away when the business demands it.
- ROI on Life Matters as Much as ROI on Investment — Ryan shifted from active flipping to passive investing vehicles because he wanted to give other pilots a great return without sacrificing their time. The goal isn't just financial — it's building a portfolio that gives you back control of how you spend your days.
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