#33 - Mortgages, Refinancing, and Home Buying with Expert David Temko
08/22/23 • 51 min
On this episode of Passive Income Pilots, Tait and Ryan interview David Temko, President of C2 Financial, the nation's leading mortgage broker. David leads a team of expert loan officers and has extensive experience in commercial loans, sales, leasing, and banking. He discusses the impact of rising interest rates on the housing market, the benefits of buying now, tax advantages, potential appreciation, and the critical role of mortgage brokers. David also covers refinancing, leveraging home equity, and the importance of local banks and credit unions. He emphasizes the enduring value of real estate and the necessity of informed decision-making with expert guidance. Enjoy the show!
Timestamped Show Notes
(00:00) Intro
(02:58) Less inventory and homeowners staying put due to low interest rates
(03:36) Shift from underdevelopment to infill and existing homes, then to commercial brokerage
(09:07) Learning from experience and finding specialists in real estate
(13:48) Analyzing the rent vs. buy decision and calculating costs
(16:00) Long-term mortgage strategies and anticipated interest rate trends
(18:29) The risk of rising interest rates and its impact
(20:24) Costs of refinancing, and understanding interest rates and loan percentages
(23:27) Utilizing HELOCs to consolidate debt and reduce interest rates
(27:04) Blended interest rates, benefits in construction projects, and working with a mortgage broker
(29:14) Uncertainty in banks and lending practices affecting loans
(32:23) Importance of matching complexity with the right mortgage broker
(34:18) Pre-approval vs. pre-qualification: What you need to know
(36:22) Expertise and long-term experience in the mortgage business
(39:02) Understanding the factors that affect mortgage rates
(41:08) Potential impact of interest rate changes on housing demand
(44:30) Affordability driving people out of California into metropolitan areas
(47:23) Importance of local banks and small businesses in the economy
(49:11) Empowering homeowners with knowledge and resources
---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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Have questions or want to discuss this episode? Contact us at [email protected] 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. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended.
On this episode of Passive Income Pilots, Tait and Ryan interview David Temko, President of C2 Financial, the nation's leading mortgage broker. David leads a team of expert loan officers and has extensive experience in commercial loans, sales, leasing, and banking. He discusses the impact of rising interest rates on the housing market, the benefits of buying now, tax advantages, potential appreciation, and the critical role of mortgage brokers. David also covers refinancing, leveraging home equity, and the importance of local banks and credit unions. He emphasizes the enduring value of real estate and the necessity of informed decision-making with expert guidance. Enjoy the show!
Timestamped Show Notes
(00:00) Intro
(02:58) Less inventory and homeowners staying put due to low interest rates
(03:36) Shift from underdevelopment to infill and existing homes, then to commercial brokerage
(09:07) Learning from experience and finding specialists in real estate
(13:48) Analyzing the rent vs. buy decision and calculating costs
(16:00) Long-term mortgage strategies and anticipated interest rate trends
(18:29) The risk of rising interest rates and its impact
(20:24) Costs of refinancing, and understanding interest rates and loan percentages
(23:27) Utilizing HELOCs to consolidate debt and reduce interest rates
(27:04) Blended interest rates, benefits in construction projects, and working with a mortgage broker
(29:14) Uncertainty in banks and lending practices affecting loans
(32:23) Importance of matching complexity with the right mortgage broker
(34:18) Pre-approval vs. pre-qualification: What you need to know
(36:22) Expertise and long-term experience in the mortgage business
(39:02) Understanding the factors that affect mortgage rates
(41:08) Potential impact of interest rate changes on housing demand
(44:30) Affordability driving people out of California into metropolitan areas
(47:23) Importance of local banks and small businesses in the economy
(49:11) Empowering homeowners with knowledge and resources
---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!
Join our growing community on Facebook
Check us out on Instagram @PassiveIncomePilots
Follow us on X @IncomePilots
Get our updates on LinkedIn
Have questions or want to discuss this episode? Contact us at [email protected] 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. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended.
Previous Episode
#32 - Tax Savvy Investing: The Power of Cost Segregation with Yonah Weiss
On this episode of Passive Income Pilots, Tait and Ryan interview Yonah Weiss, the #CostSegKing. Yonah is a renowned cost segregation expert, real estate investor, and host of the Weiss Advice podcast. With a background in teaching, Yonah educates property owners on saving millions in taxes through cost segregation. Featured on over 300 real estate podcasts, he shares insights on tax strategies, debunks misconceptions, and explains the evolution of cost segregation. Yonah discusses the importance of engineering knowledge in cost segregation, its impact on real estate investing, and navigating IRS regulations for real estate professional status. Enjoy the show!
Timestamped Show Notes
(00:00) Intro
(07:54) What is cost segregation and how Yonah Weiss started with it
(11:27) Brief history of cost segregation in real estate
(13:31) Understanding straight-line depreciation and tax deductions
(16:10) Applying cost segregation for a single-family home
(19:00) Yonah Weiss's background and journey to becoming a cost segregation expert
(23:38) Cost segregation for personal rental properties
(27:12) Understanding non-bonus depreciation
(29:09) Insights on bonus depreciation benefits
(32:34) When it is not beneficial to conduct a cost segregation study
(34:41) Qualifying for real estate professional status
(38:24) Exceptions to the rule and leveraging loopholes
(42:20) Deciding when to pursue a cost segregation study
(43:54) Identifying properties eligible for a cost segregation study
(46:19) Cost segregation on new purchases vs. adding capital improvements
(49:43) Applying cost segregation to ground-up developments
(50:36) Navigating a lower leverage environment
(54:26) Appetite for depreciation among investors
(56:07) One standout insight from Yonah Weiss
(59:01) Where to find Yonah Weiss
(1:00:02) Outro
Resources Mentioned
---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!
Join our growing community on Facebook
Check us out on Instagram @PassiveIncomePilots
Follow us on X @IncomePilots
Get our updates on LinkedIn
Have questions or want to discuss this episode? Contact us at [email protected] 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. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended. Listeners are responsible for their own investment decisions and are encouraged to seek professional advice before investing.
Next Episode
#34 - Navigating Cash Balance Plans and Retirement for Airline and Corporate Pilots with Timothy Pope
On this episode of Passive Income Pilots, Tait and Ryan interview Timothy Pope, a Certified Financial Planner and GA pilot dedicated to serving professional pilots across America. With a Bachelor of Science degree from Wake Forest University, Tim brings extensive experience from his previous roles at a large investment management firm and a regional bank before starting his own practice in 2020. Tim excels at helping clients organize and optimize their financial lives through a straightforward planning process and an active, hands-on partnership that prioritizes their goals, dreams, and values. In this episode, Tim delves into the professional pilot industry, exploring current trends in compensation, benefits, and corporate operators. He also addresses retirement planning, age requirements, benefits, and the Highly Compensated Employee limit. Tim highlights the advantages of new cash balance plans introduced by some airlines, which offer promising opportunities for those nearing retirement. He concludes with an overview of his firm's comprehensive financial planning and wealth management approach, designed to help professional pilots achieve their best financial life. Enjoy the show!
Timestamped Show Notes
(00:00) Intro
(03:04) Background on Timothy Pope and his financial planning practice
(04:23) Exploring market-based cash balance plans for pilots
(06:41) Cash balance plans among airlines and their tax deferral benefits
(07:54) Challenges of losing control over investment selection
(09:36) Company and union selection of money managers explained
(15:32) Understanding tax implications and potential future savings
(21:07) Disadvantages of limited control and lack of allocation flexibility in cash balance plans
(23:27) Cash balance plans as an alternative retirement option for pilots
(25:40) Positive developments in airline contracts and enhanced pilot benefits
(27:27) How pilots can benefit from Timothy Pope's financial planning firm
(28:35) Effective tax planning and strategizing with clients
(31:14) How to connect with Timothy Pope for financial advice
(32:40) Outro
Connect with Tim
Website: https://www.tpope.ceterainvestors.com/
LinkedIn: https://www.linkedin.com/in/timothyp-pope/
---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!
Join our growing community on Facebook
Check us out on Instagram @PassiveIncomePilots
Follow us on X @IncomePilots
Get our updates on LinkedIn
Have questions or want to discuss this episode? Contact us at [email protected] 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. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific ...
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