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What if the IRS already allows you to write off far more of your real estate, but no one ever showed you how? In today’s episode, Tait Duryae sits down with Gian Pazzia to break down cost segregation in plain English and explain why it remains one of the most powerful tax strategies for real estate investors. Building on last week’s depreciation primer with Hall CPA, this episode covers how cost segregation works, when it makes sense, audit risk myths, and how pilots can apply it to everything from single-family rentals to commercial deals. You’ll also learn about a new, low-cost software option that makes cost seg accessible to smaller investors. Gian Pazzia is a structural engineer and tax strategist with over 25 years of experience specializing in cost segregation studies. He is the founder of KBKG, one of the largest cost segregation firms in the country. Gian began his career at Arthur Andersen, working on large-scale commercial projects, and has since helped thousands of real estate investors legally accelerate depreciation and reduce tax liability through IRS-compliant strategies. Show notes: (0:00) Intro (2:18) Why cost segregation matters (5:46) Cost seg vs straight-line depreciation (8:39) What assets qualify for write-offs (10:18) IRS-approved depreciation methods (14:54) Land value impact on tax benefits (19:24) Cost seg for small properties (25:32) Audit risk explained clearly (34:04) Using cost seg on older properties (37:40) DIY software walkthrough (39:10) Outro Connect with Gian: Website: https://www.kbkg.com/management/gian-pazzia Cost Segregation Software: https://www.costsegregation.com/ Promo Code: PILOTSCODE (10% off for first-time users) Related Episode: #144 - Depreciation, Cost Segs, and the IRS Rules Pilots Miss with Brandon Hall If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [email protected]  See you at 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.

Tait Duryea is joined by Brandon Hall to break down one of the most misunderstood tools in real estate investing: depreciation. From straight-line depreciation to cost segregation and 100 percent bonus depreciation, this episode explains how so-called “phantom losses” can legally reduce or even eliminate taxable income for pilots and other high earners. They also cover depreciation recapture, common investor mistakes, and why experienced investors think in decades, not tax years. Brandon Hall is the founder of Hall CPA, widely known as The Real Estate CPA. After working at Ernst & Young and PwC, he left the corporate world to build a national firm focused exclusively on real estate investors. His team supports everyone from first-time landlords to large syndications and funds, with a practical, no-nonsense approach to depreciation, cost segregation, and long-term tax strategy. Show notes: (0:00) Intro (01:14) What depreciation really is (03:06) Brandon’s CPA and real estate background (09:20) Why assets depreciate while values rise (11:15) Straight-line depreciation explained (14:01) Leverage and real estate returns (18:42) Tax losses vs operating income (20:57) Cost segregation basics (23:07) Bonus depreciation returns in 2025 (31:41) Depreciation recapture explained (46:42) The “lazy man’s” 1031 strategy (1:00:04) Outro Connect with Brandon Hall: Website: https://www.therealestatecpa.com/ Podcast: https://www.therealestatecpa.com/podcasts/  If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Could life insurance be a better cash-flow tool than a savings account? Tait Duryea and Ryan Gibson sit down with Rod Zabriskie from Money Insights Group to break down how high cash value whole life insurance can be used as a powerful cash-flow tool for pilots and investors. They cut through the confusion around “infinite banking” and explain how properly structured policies can improve liquidity, reduce friction when investing, and add meaningful long-term returns. This episode walks through real pilot use cases, common mistakes, and why this strategy has become a quiet cornerstone for sophisticated alternative investors. Rod Zabriskie, president of the Money Insights Group, specializes in advanced wealth-building strategies using life insurance as a financial tool. With a pragmatic, education-first approach, Rod helps high-income professionals, especially pilots, understand how to leverage whole life policies for liquidity, tax advantages, and long-term returns. Show notes: (0:00) Intro (0:14) First flight in a J3 Cub (3:50) Why life insurance matters here (4:23) High cash value strategy explained (6:13) Cutting through infinite banking noise (8:06) Investment optimizer vs banking hype (11:09) Setting flexible funding ranges (13:29) Term insurance vs whole life (15:21) Using policy loans to invest (18:40) Why brokers matter for pilots (31:05) How this adds a million dollars (35:01) Outro Connect with Rod: Website: https://moneyinsightsgroup.com Youtube: https://www.youtube.com/channel/UCW0fBokwg09-2H2kXWK5Zfw Related Episodes: #47 - Innovative Wealth Strategies: From Life Insurance to Alternative Investing with Christian Allen and Rod Zabriskie#70 - Leveraging Life Insurance for Passive Income with Rod Zabriskie and Blake Brogan#84 - Tax-Free Growth & Infinite Loans: Whole Life Insurance Strategies for High-Earners#122 - How Pilots Use Whole Life Insurance to Fund Investments with Rod Zabriskie If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Are you paying for a high-powered CPA when your tax situation doesn’t actually require one? In this episode, Tait Duryea and Ryan Gibson sit down with CPA Gary Heldt to clarify what smart tax planning really looks like for high-income pilots with relatively simple financial lives. They break down how W-2 earners can optimize taxes without complex businesses, aggressive strategies, or unnecessary fees. Gary explains how often-overlooked fundamentals like benefits planning, estimated taxes, and coordinated advice can quietly compound into meaningful long-term gains. If you want clarity, confidence, and a more intentional approach to your CPA relationship, this episode delivers. Gary Heldt is a CPA, Certified Tax Coach, and founder of Small Business Advisors. With over 25 years of experience, he helps high-income professionals make better tax decisions through a consultative, family-office-style approach that prioritizes clarity over complexity. Show notes: (0:00) Intro (0:23) Why pilots overpay for CPAs (1:25) Family-office thinking for W-2 earners (3:42) Gary’s path into tax planning (8:13) Missed tax moves for W-2 professionals (11:57) What a good CPA should do (16:28) Why education beats tax prep (24:34) Bracket strategy and timing income (28:50) Estimated taxes pilots overlook (34:18) Turning tax savings into investments (43:57) Outro Connect with Gary Heldt: Sign up directly on the site. Choose personal, business, or both newsletter options: https://www.sbadvisors.cc/  Gary's Podcast: https://www.sbadvisors.cc/resources/podcasts  If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Tait Duryea and Ryan Gibson sit down with Toby Mathis to unpack one of the most misunderstood topics for high-income pilots: business structure and taxes. They explain when to use sole proprietorships, LLCs, S-corps, and C-corps, how losses and profits flow to your personal return, and why entity choice impacts audit risk and mortgage eligibility. This episode is a practical roadmap for pilots starting side hustles who want to lower taxes, protect assets, and avoid costly mistakes. Toby Mathis is a nationally recognized tax attorney, investor, and educator, best known for simplifying complex tax and asset-protection strategies for entrepreneurs and high-income professionals. He is a founding partner of Anderson Advisors, where he helps clients legally reduce taxes, structure businesses, and protect wealth. In this episode, Toby breaks down entity structures, audit risk, and practical tax strategies pilots can apply when starting or scaling a business. Show notes: (0:00) Intro (0:11) Why entity structure matters (1:40) Side hustles and W-2 tax offsets (3:01) Starting a business vs real estate (6:42) Flow-through Vs. C-corp taxation (8:49) Mortgage qualification pitfalls (11:38) Legitimate expense strategies (15:00) Augusta rule and home office (21:48) Why sole proprietors get audited (28:25) Profit Vs. Loss by entity type (41:20) Schedule C Vs. Schedule E risk (56:14) Outro Connect with Toby Mathis: Website: https://tobymathis.com/ YouTube: https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ Books: https://www.amazon.com/Tax-Wise-Business-Ownership-Toby-Mathis/dp/0979786002 Tax Tuesday: https://andersonadvisors.com/tax-tuesdays/ If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Tait Duryea and Ryan Gibson close out 2025 by pulling back the curtain on how high performers actually plan, execute, and stay intentional across money, business, and family life. From Spartan’s acquisition pace and Turbine’s investor roadmap to family board meetings, goal frameworks, and habit formation, this episode offers a grounded look at what it takes to build momentum year after year. If you want clarity instead of drift and action instead of resolutions, this conversation sets the tone for a focused, intentional 2026. Do not just listen. Decide who you are becoming and move. Show notes: (0:00) Intro (2:27) Family board meetings explained (4:32) Objectives and key results framework (6:29) Spartan’s 2025 growth numbers (9:29) Turning big ideas into action (12:21) Why most people never get clear (15:49) Day one Vs. One day mindset (18:40) Stability, mentorship, and leadership (21:02) Why 2026 looks like opportunity (23:36) Outro If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

What if managing rentals like an institution is the key to higher returns and less stress? Hosts Tait Duryea and Ryan Gibson talk with Matthew Whitaker, founder of Evernest, about scaling property management with systems, data, and AI. From HELOC-driven growth to managing 20,000 homes nationwide, this conversation breaks down why professional operations, fraud prevention, and institutional discipline can transform single-family and small multifamily investing for pilots. Matthew Whitaker is the founder of Evernest, a nationwide property management platform serving over 20,000 rental homes across 50 markets. A former single-family investor who scaled through multiple market cycles, Matthew now focuses on applying institutional systems, data, and AI to professionalize rental operations and reduce friction for real estate investors. Show notes: (0:00) Intro (0:19) Why property management changes everything (1:22) From 30 homes to 20,000 doors (5:03) Using HELOCs to scale real estate (10:32) Why paying off your house isn’t safer (16:23) Inside Evernest’s national platform (18:21) Tenant fraud and underwriting risks (22:12) Why in-house maintenance lowers costs (31:21) AI predicting repairs and NOI (34:10) Institutional systems for small rentals (46:07) How to work with Evernest (47:14) Outro Connect with Matthew Whitaker: Website: https://www.evernest.co/ — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Tait Duryea and Ryan Gibson sit down with Mat Sorensen of Directed IRA to tackle one of the most common investor questions: Who do you actually trust when investing in alternative assets? The conversation breaks down how to vet operators, assess risk, understand leverage, and use self-directed retirement accounts responsibly. Mat shares real-world insight from seeing thousands of deals flow through his firm, explains why advisors often avoid alternatives, and outlines practical rules for due diligence, alignment, and saying no to bad opportunities. Mat Sorensen is a nationally recognized authority on self-directed retirement investing and the CEO of Directed IRA. A tax and business attorney with over 20 years of experience, Mat has helped thousands of investors use IRAs and 401(k)s to invest in alternative assets like real estate, private equity, and startups. He is the author of The Self-Directed IRA Handbook and co-hosts educational events and podcasts focused on empowering investors to take control of their retirement capital. Show notes: (0:00) Intro (0:29) Understanding investment risk (4:54) What custodians do and don’t do (6:01) Why advisors avoid alternatives (9:09) How wealthy investors allocate capital (13:55) What you pay a self-directed custodian for (18:16) The “bring your own deal” reality (25:05) Identifying an operator’s real edge (33:07) Debt as the biggest risk factor (48:28) Learning when to say no (51:57) Outro Connect with Mat Sorensen: Website: https://directedira.com/ YouTube: https://www.youtube.com/@MatSorensen/videos Learn more about:  Alternative Asset Investor Summit - https://altassetsummit.com/ Episodes Mentioned: 1. #124 - $44 Trillion and the Future of Retirement Investing with Mat Sorensen 2. #110 - The IRA Club Advantage: The Self-Directed IRA Strategy for Pilots with Ramez Fakhoury 3. #36 - Decoding the Untapped Potential and Complex World of Self-Directed IRAs with Derreck Long   4. #9 - Demystifying IRAs: Transfers Vs. Rollovers with Carrie Cook — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — 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 [email protected]  *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.

Clarity and control for the wealth you’re building. Tait Duryea and Ryan Gibson sit down with asset protection expert Adam Kintigh for his third appearance to break down one of the most misunderstood pieces of a pilot’s financial plan: the revocable living trust. Discover how to structure your trust, avoid probate disasters, protect your heirs from creditors, ensure your wealth goes where you intend, and understand the real difference between revocable and irrevocable trusts. If you've ever wondered how to secure your legacy and prevent costly mistakes, this episode is essential listening for pilots building serious wealth. Adam Kintigh is an asset protection and estate planning expert at Nevada Corporate Headquarters. He builds trusts, LLC structures, and multigenerational plans for high-income earners, including many pilots, helping them safeguard their wealth and protect their families. In this episode, he breaks down revocable trusts, probate pitfalls, creditor risks, and practical estate planning strategies. Show notes: (0:00) Intro (0:34) Why pilots must understand trusts (1:00) Adam returns for his third episode (6:25) Will Vs. Trust explained (8:52) The true cost of probate (10:21) Spendthrift protections for children (13:32) When irrevocable trusts matter (17:41) How to design a wealth roadmap (25:48) Who actually comes after your estate (39:00) How to correctly fund your trust (51:07) Why trust naming protects privacy (55:50) Outro Connect with Adam Kintigh: Email Adam at: [email protected] and mention Passive Income Pilots to get started Website: https://nchinc.com  Episodes Mentioned: 1. #114 - Trusts, Taxes & Transfers: What Every Investor Should Know with Amanda Wynalda: https://passiveincomepilots.com/episode/114-trusts-taxes-transfers-what-every-investor-should-know-with-amanda-wynalda 2. #119 - LLCs, Trusts, and Bulletproof Asset Protection with Adam Kintigh: https://passiveincomepilots.com/episode/119-llcs-trusts-and-bulletproof-asset-protection-with-adam-kintigh 3. #127 - LLCs, Trusts, and K-1s: Smarter Asset Protection with Adam Kintigh: https://passiveincomepilots.com/episode/127-llcs-trusts-and-k-1s-smarter-asset-protection-with-adam-kintigh Learn more about: NCH Consultation for Passive Income Pilots Investors: https://calendly.com/nchconsultation/nch-consultation-for-pipp?month=2025-12 — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/   — 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 [email protected]  *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.

Are you using the exit strategies that actually work in this market? Hosts Tait Duryea and Ryan Gibson talk with seasoned investor and author Leka Devatha to pull back the curtain on what’s real and what’s not in flipping, reality TV, and today’s housing market. Get ready to uncover the truth behind her Amazon Prime episode, learn the creative strategies inside her new book Return on Real Estate, and discover how investors can win even when the market slows. From mid-term rentals to ADUs, conservative underwriting, and Seattle’s shifting landscape, this episode gives pilots practical insights they can apply anywhere. Leka Devatha is a Seattle real estate investor, developer, luxury broker, and author with over $100M in completed projects. She’s known for her Amazon Prime flipping episode, her high-growth investor meetup, and her BiggerPockets book Return on Real Estate. Leka specializes in creative, practical strategies that help investors build equity, cash flow, and resilience in shifting markets. Show notes: (0:00) Intro (3:38) What’s real and fake about TV house flips (5:01) Leka’s $100M real estate journey (7:05) Lessons hidden inside the “fake flip” (8:38) How her book Return on Real Estate is structured (11:43) How she underwrites deals in today’s market (13:54) Why buyers are picky and inventory patterns (21:09) Seattle trends, taxes, tech workers, and investor behavior (27:21) Leka’s favorite “adventure” strategy (36:13) What mid-term rentals really are and who rents them (41:20) Outro Connect with Leka Devatha: LinkedIn: https://www.linkedin.com/in/leka-devatha-5616bb185/  IG: https://www.instagram.com/leka_devatha/?hl=en Return on Real Estate by Leka Devatha: https://www.amazon.com/Return-Real-Estate-Agility-Maximize/dp/1960178792 Leka’s flipping episode:  “Million Dollar Zombie Flip” on Amazon Prime (search Amazon Prime for the show title)Join Leka’s investor community: Real Estate at Work (Seattle meetup) - https://www.meetup.com/realestateatwork/?utm=  — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Are you unknowingly passing up five-figure tax savings available right now? Tait Duryea and Ryan Gibson sit down with oil and gas expert Tim Pawul to reveal why minerals, royalties, and non-operated working interests have become one of the most powerful tools for cash flow and tax strategy. Get ready to understand the real reason hydrocarbons aren’t going anywhere, how minerals function like “underground real estate,” and why non-op wells offer significant first-year tax advantages for high-income earners. Discover how pilots can use this asset class to balance real estate, reduce taxable income, and access institutional-quality deals with transparency and scale. Tim Pawul is the President of Minerals and Royalties Authority, a leading connector, advisor, and investor in the oil and gas minerals space. With over a decade of experience mapping the institutional evolution of minerals, Tim has become one of the industry’s loudest, most trusted voices. He hosts The Minerals and Royalties Podcast, works with institutional and private investors, and brings unmatched insight into minerals, royalties, and non-operated working interests. His deep industry relationships make him a go-to resource for anyone serious about energy investing. Show notes: (0:00) Intro (1:04) Fossil fuel dependence today (2:07) Introducing guest expert Tim Pawul (4:06) How Tim entered the minerals industry (7:02) Why shale changed everything (11:12) How minerals became institutional (19:11) What mineral rights actually are (32:39) How non-op working interests work (44:54) Red flags and due diligence tips (51:32) Outro Connect with Tim Pawul: LinkedIn: https://www.linkedin.com/in/tim-pawul-54aa9526/ The Minerals and Royalties Podcast: Apple Podcasts: https://podcasts.apple.com/us/podcast/the-minerals-and-royalties-podcast/id1502759760 Spotify: https://open.spotify.com/show/2uiMdKFVMq7hWv1EBCDLsI  Learn more about: Turbine Capital Iron Horse Energy Fund providing 80-85% tax deduction for 2025: https://turbinecap.investnext.com/portal/offerings/8798/ Turbine Capital Oil & Gas Tax Benefits eBook: https://drive.google.com/file/d/17jUYSuoJGCU2ea4SN6MLgazmp-3LE2Lt/view Terms not explained during the episode:  ESG = Environmental, Social Governance. ESG stands for Environmental, Social, and Governance, a set of standards used to evaluate a company's sustainable and ethical practices. AFE = Authorization For Expenditure. A formal document used in the oil and gas industry to outline the detailed cost estimate and approval for a specific project, such as drilling, completion, or reworking a well. It serves as a budget and a project proposal, requiring partner approval before capital is committed and tracking expenditures against the budgeted amount. G&A = General and Administrative NAPE Expo: https://registration.expologic.com/registration/types/668F3878-BC35-4659-A750-6491C592938D/3591 NAPE Registration Discount Code: MRA26 to get $75 off — Do you have questions or want to discuss this episode? Contact us at [email protected]  *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.

Sleep becomes exciting, especially when it’s with Dr. Adam Shapiro. Tait Duryea and Ryan Gibson sit down with this board-certified sleep specialist and ATP pilot to uncover what every aviator needs to know to protect their health and their medical. Get ready for practical guidance on staying sharp, staying healthy, and staying in the cockpit longer. Dr. Adam Shapiro is a board-certified sleep medicine specialist, ENT surgeon, senior FAA Aviation Medical Examiner, and ATP-rated pilot. With more than three decades in clinical practice and a deep background in human factors, circadian rhythm, and sleep disorders, he helps pilots identify and resolve sleep issues before they become medical problems. Through Aero Medical Sleep Consultants, he works with individual aviators and aviation organizations to improve sleep quality, mitigate fatigue risks, and protect FAA medical certifications. Show notes: (0:00) Intro (01:07) Protecting your medical like a check ride (07:00) How Dr. Shapiro helps pilots (09:49) Real-world sleep hygiene basics (12:12) What sleep actually does for the body (14:01) Managing shifting time zones (17:54) Best practices for red-eye preparation (20:06) The most common sleep disorders (39:26) The science and risks of cockpit naps (49:34) Outro Connect with Dr. Adam Shapiro: Website: https://www.aeromedsleep.com/ LinkedIn: https://www.linkedin.com/in/adam-shapiro-62823441/ — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Taxes become more exciting, especially when it’s with Toby Mathis. Tait Duryea and Ryan Gibson welcome back tax strategist and investor Toby Mathis for another powerhouse session on how to keep more of your money before year-end. From bonus depreciation and the short-term rental loophole to smarter charitable giving and donor-advised funds, Toby reveals how high-income earners can legally slash their tax bills. Whether you’re a pilot, business owner, or passive investor, you’ll walk away knowing which moves to make before December 31, and how to turn your taxes into one of your biggest wealth-building tools. Toby Mathis is a tax attorney, investor, and co-founder of Anderson Advisors. With decades of experience advising thousands of investors, Toby simplifies complex tax laws into real-world strategies for building wealth. Known for making tax planning engaging and actionable, Toby helps high-income professionals, especially pilots and real estate investors, protect their assets and minimize taxes through smarter planning. Recommended episodes: #10 - Reduce Your Taxes & Maximize Returns Using PROVEN Investment Strategies with Toby Mathis #14 - Depreciation Demystified: Cost Segregation and Tax Savings in Real Estate with Toby Mathis 🎟️ Free Ticket to the December 4–6 Tax & Asset Protection Live Event in Dallas, TX Email Ryan at [email protected] for one of the first 15 free tickets. Show notes: (00:06) What's exciting about today's episode? (01:05) Smart moves to make before year-end (03:59) Who Toby is and his investing philosophy (06:46) Understanding high-income tax pain and incentives (08:15) How to use real estate losses strategically (13:22) The Orlando toll road analogy for tax planning (17:03) Turning passive losses into active tax savings (25:23) The Airbnb loophole you probably missed (28:22) Donating appreciated assets for major deductions (34:33) Donor-advised funds: the smart way to give (43:04) 2026 bonus depreciation clarity (45:03) Post-year strategies and cost segregation timing (49:40) Real estate resilience and inflation insights Connect with Toby Mathis: TobyMathis.com Youtube Tax Tuesday — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

What happens when a real estate investor decides to buy an airport? In this episode, host Tait and Ryan sit down with Robert DeLaurentis, the “Peace Pilot,” to unpack how he transformed a rundown airport into a thriving hub of aviation and community life. Robert shares how his decades in multifamily real estate funded his passion for flying, why legacy matters more than luxury, and how creative business models can make even airports profitable. From flying over both poles to battling bureaucracy, his story is a masterclass in purpose-driven investing, resilience, and vision. Robert DeLaurentis is a pilot, real estate entrepreneur, philanthropist, and author known as “The Peace Pilot.” A Gulf War veteran and world traveler who’s flown to 53 countries, Robert combined his real estate success with his passion for aviation to purchase and renovate Oak Harbor Airport on Whidbey Island. Through his foundation, films, and books, he’s on a mission to inspire aviators and entrepreneurs to lead with purpose, build legacy projects, and fund what they love through smart investing. Show notes: (0:00) Intro (4:28) Ryan’s first impression of the renovated airport (7:05) The decision to buy a failing airport (11:20) Was it passion or profit? (13:00) How volunteers and “angels” made it work (22:29) The state of general aviation airports today (27:06) How pilots can help protect their airports (34:22) Finding sponsors and business angels (35:37) The eight-month polar circumnavigation mission (41:23) From house hacking to owning multifamily assets (46:00) Living lean, investing early, retiring young (52:03) The mentor who changed everything (55:00) Where to find Robert’s books, film, and foundation Connect with Robert DeLaurentis: Website: https://flyingthrulife.com/https://poletopole.flyingthrulife.com/Watch Peace Pilot on Amazon Prime, Google TV, or Apple TV: https://flyingthrulife.com/peace-pilot-movie/DeLaurentis International Airport at Oak Harbor: https://delaurentisairport.com/— If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.

Where should you put your money right now?  Ryan Gibson and Tait Duryea sit down with economist Dr. Elliot Eisenberg to decode the markets, interest rates, and the economic forces shaping your portfolio. From AI layoffs to multifamily real estate, they break down how high-income earners, especially pilots, can build wealth intelligently amid uncertainty. Elliot reveals why the top 10% of earners are keeping the economy afloat, what sectors look undervalued, and which indicators truly predict where we’re headed next. Packed with humor, clarity, and actionable advice, this episode helps you read the financial skies with confidence. Elliot Eisenberg, Ph.D., is an Internationally Acclaimed Economist and Public Speaker Specializing in Making the Arcana and Minutia of Economics Fun, Relevant, and Educational. “BOWTIE” to 66866 to sign up to receive the daily blog via email Show notes: (0:00) Intro (03:15) Where We Are in the Market Cycle (05:53) AI, Automation, and Job Layoffs (07:29) The Power of Diversification (09:54) Stock Market Overvaluation Explained (13:03) Will AI Replace Pilots? (15:14) Building Wealth on a Pilot’s Salary (17:00) Why the Rich Keep the Economy Strong (24:07) Flying Blind: Government Shutdown Effects (25:51) Real Estate Cycles and Rate Cuts (27:00) Office and Multifamily Market Outlook (30:26) Where to Invest in 2025 (31:44) Defense, Gold, and Space Stocks (32:11) Top 5 Economic Indicators to Watch (37:00) How ChatGPT Boosted Productivity Connect with Dr. Elliot Eisenberg: Website: https://econ70.com/LinkedIn: https://www.linkedin.com/in/elliot-eisenberg-b9a1894/ — If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — 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 [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.