Podcast appearances and mentions of quincy long

Bill Fairman 00:00:01 Hi everyone. We're right on time as usual. Sorry about that. Mike. Thanks for hanging around for an extra minute. Our theme this month has been Small dollar lending, raising capital, and investing with family and friends. Yep. And we are going to get in depth with our special guest who's going to give us some insights into her. What is it? What are we talking about today?   Jonathan Davis 00:00:32 Small dollar lending. Lending with smaller amounts.   Bill Fairman 00:00:35 And we'll do that right after this. Hi everyone. Thank you so much for joining us on The Real Estate Investor Show Hard Money for Real Estate Investors. We are Carolina Capital Management and we are private lenders in the Southeast for real estate professionals. So if you'd like us to take a look at one of your projects, go to carolina hard money.com and click on the apply now tab. If you're a passive investor looking for passive returns, go to the accredited investor tab. Don't forget share, like, subscribe, hit the bell and all that good stuff. And don't forget about Wednesdays with Wendy. Wow, that was four seconds. Was that four seconds? Yeah,   Jonathan Davis 00:01:43 I think it   Bill Fairman 00:01:44 Was, It seemed like two and a half.   Jonathan Davis 00:01:46 Oh,   Bill Fairman 00:01:46 Okay. So Wendy devotes 30 minutes per person on Wednesday afternoons to talk about anything real estate related. If you go to our comments section on the right side of your screen or underneath, depending on the platform you're reviewing us from, then you can click on get right onto her schedule. Yep. She's usually booked a couple of months out in advance. It's well worth it. So let's get into some breaking news,   Jonathan Davis 00:02:17 Some breaking news. I like it.   Bill Fairman 00:02:32 So England's newest Prime Minister resigned this morning. So this is now six prime ministers, no, four prime ministers in the last six years.   Jonathan Davis 00:02:46 So   Bill Fairman 00:02:47 That's what I call stable government.   Jonathan Davis 00:02:50 Yeah, yeah, absolutely. To, to bring a more, more home are what we're sitting right now at the average 30 year mortgage. It's 6.92 for a full 30 year. I think if you get a five one arm, you're right around 5.9. So we're almost, we're creeping up on 7% inflation staying around that eight to eight and a half percent mark when you take out, you know, fuel and food, cuz apparently those are too volatile. You don't want to include those in the, in the core numbers, you know, but, you know, not like people need food and fuel. So it's sticking around there, which is probably going to lead to at least two more interest rate hikes. This year of anticipation is 75 basis points. Each one.   Bill Fairman 00:03:50 It, it's not the rate that really is gonna hurt, it's the how quickly they're, they're going up on these things.   Jonathan Davis 00:04:00 Well it's the, it's the, this is the well, and, and so we can have a little, you know, history with this 6.92 is the highest 30 year fixed mortgage rate since 2002. Right? So 20 highest one in 20 years. Our interest or our inflation is, you know, obviously the, you know, the highest in 40 years. So we are, we're, we're navigating some interesting waters. One of the interesting things that I thought, or that I found was through all of this, now we know that, you know, single family homes, the appreciation is were still right around what, eight 9%?   Bill Fairman 00:04:40 Yeah.   Jonathan Davis 00:04:42 Mobile home appreciation. 35%. Yeah. Nationally.   Bill Fairman 00:04:49 Well it is the, one of the most affordable housing alternatives. And so people are turning the mobile homes cuz they can't afford to get into some stick built   Jonathan Davis 00:05:00 Homes. Yeah, I think I think the, the average cost of a mobile home now nationally bringing it it's around 1 50, 1 60 is kind of the, which is a lot higher than it used to be.   Bill Fairman 00:05:11 The the average five years ago was 65.   Jonathan Davis 00:05:15 Yeah. So,   Bill Fairman 00:05:16 So it's, it's jumped up quite a bit.   Jonathan Davis 00:05:17 It's jumped up a lot.   Bill Fairman 00:05:19 And then the most recent builder sentiment survey, and and I I love this, they're not using actual numbers, they're just, how do you feel? They, they survey how they feel about the market. Not necessarily And how's the market doing?   Jonathan Davis 00:05:33 Well it's how we feel that determines what the market does because it determines what we   Bill Fairman 00:05:37 Do. It's how the, it's how the general public should be feeling, not the, not the builders.   Jonathan Davis 00:05:43 Mm. You think so?   Bill Fairman 00:05:44 Yeah. Well in, in my opinion. Yeah. And this is my opinion, if you're behind 6 million homes, you know, based on population growth, even though there's gonna be a slowdown, wouldn't you want to continue to at least kind of get ahead of the game so when it does turn around quickly, you'll have plenty of inventory.   Jonathan Davis 00:06:07 Yeah. The the, the sentiment is when will it happen? Yeah. And how can they time it and do you get,   Bill Fairman 00:06:11 So you build 'em to rent and then when it's time to you, you put 'em on six month leases or anyway you have 'em available to sell when the, when the time comes, Bill   Jonathan Davis 00:06:21 Will be putting a mastermind together for all the developers. If you would like to join bill@chmlending.net.   Bill Fairman 00:06:29 See, last thing, what was the last one? Oh, housing sales for the month of September, 4.2 million, which is usually in the close to 6 million a month, which is down considerably, but the price of homes still went up 9% for the months. So the, the sellers and the new buyers haven't reached that equilibrium yet. The people selling still think the homes are worth a lot of money. And apparently the people that are buying, I agree with 'em cause it still went up   Jonathan Davis 00:07:10 9% the people that are buying. But also, you know, it's this weird place that we're in between high inflation, but jobs are still good. Yeah. Like, so it's like until, until jobs get hurt, I mean you're gonna have this weird relationship between buyers and sellers and, and the home prices. The homes won't start coming down until jobs get hurt   Bill Fairman 00:07:31 And, and, and again, there's still a lack of inventory. There's plenty of families being informed and there's not enough single family homes to go around. So anyway, that's our news for this week. I'm sure there'll be some next week whether we want it or not. Right.   Jonathan Davis 00:07:50 News or noise. We're trying to determine which one it's gonna be.   Bill Fairman 00:07:54 So let's, let's get this train wreck moving. Huh? What did that mean?   Jonathan Davis 00:08:06 Like it was just to cut you off, it was just to like get Bill to stop talking.   Bill Fairman 00:08:09 All right. I don't wanna keep Sue in the green room too long. Sue Jensen is one of our favorite people. She's invested with us. She's an experienced lender as well. She has self-directed IRAs that she has been taking control of for years and she's got great experience that I wanted her to share with our audience on getting your money invested. Sue, welcome. Come on out of the green room. Hey guys, how are you?   Susan Jensen 00:08:45 Good, good seeing you guys.   Bill Fairman 00:08:48 You too. You as well. I, I love that brick wall behind you. That's awesome.   Jonathan Davis 00:08:53 It almost looks real.   Susan Jensen 00:08:54 Yeah. I'm on my back porch in the breeze   Bill Fairman 00:08:58 And the only way I can get real brick is if I have a fake background that the software system helps us with.   Susan Jensen 00:09:06 Yeah.   Bill Fairman 00:09:08 So one of the questions that I had for you is, because I know for a fact that you have several accounts you work with and then when you have Roth accounts and then when you have traditional accounts and, and then you know, you, you have entities that you invest with as well that have nothing to do with self-directed retirement accounts. They all typically have, you know, different dollar amounts and there's a lot of people that have IRAs that may only have $20,000 in it and they're like, well, you know, I'm very limited on what I can do to get this money invested. Give me an idea of what you've done to, to get those smaller dollars invested alongside of the, the larger dollars that you have invested.   Susan Jensen 00:09:57 Yeah, so, so my husband and I deal, we have four IRAs, self-directed IRAs. We also have a, an LLC outside our IRAs that we invest with. And then I manage my son's ira, my son-in-law's ira and another pastor's ira. So, so I, what I try to do is leverage all of our IRAs so that we keep that money working in all of them. And especially with the, the young guys, they're just starting out building up their self-directed IRAs. My son-in-law, he's, he's up to 20,000 now in his, but he just started a couple years ago and he's slowly building that. So yeah, so we just leverage with each other and, and just try to build our wealth and with for one another.   Bill Fairman 01:10:56 So what are the some, some of the things that you have to do cuz you can't just depend on each other to invest the money. You have to get other, at, at least network with other like-minded people to get involved in deals. Cuz it's easy to find people that want to invest their money, but it's little bit more difficult to find the deals to put 'em in.   Susan Jensen 01:11:20 Right.   Bill Fairman 01:11:22 And and I, I know being, I'm sorry, I didn't mean to cut you off, but being a part of an IRA group that has education and events and put those things together, is that part of what you do as well?   Susan Jensen 01:11:36 Yeah, I meet a lot of people just watching a lot of webinars. I walk, I, I get a lot of Quest education. I'm usually watching a Quest webinar at least once a week. And so I, I try to get a feel for who these people are, whether they have a fund or whether they are looking for capital. And, and then I go to events and I'm in a mastermind. I, I lend to a lot of people in, or a handful in the mastermind. And, and then I tend to, once I find someone that I really like, like you guys for years and years I started with you guys and I've been working with you for 10 years now. You guys got me started, Wendy did. So once you have a good person to work with you, you keep going back to that same, that same lender, the same borrower, and you, you just keep working together and then, you know, we, people know people and you, you just build your circle that way.   Bill Fairman 01:12:42 Well, I know one of the unique things that most people aren't gonna do this, but one of the things that you did that was extremely smart was you volunteered to be the president of our local R group for a year or two. And you certainly meet a lot of people that way. It's a lot of work. Don't get me wrong. You were doing it not because you were just trying to meet people to do deals with, you were doing it to volunteer your time and, and also learn. But I mean, volunteering anything in a, in a local r or a mastermind is gonna be beneficial, right?   Susan Jensen 01:13:18 Yeah, yeah. There was, that was about three years that I did that and I'm put a lot of subgroups into the r and met a lot of people that way. So yeah, it is, it's, it's great to be able to volunteer and join arms with other people. You really get to know them that way. And, and in my, in my business, my number one priority is the person. So with lending they say it's, you know, you've, you've gotta do your due diligence on the person, the paper and the property and that's all right. But the, the person to me is the most important. I just wanna make sure that I'm working with good people that I can trust and that I like.   Bill Fairman 01:14:04 Yep. Well the, the key to making money is making sure it's making money consistently. And any time there's a break in between, you're not making any money. So whether you get a property back or not is not the issue is, is my money working for me while I'm waiting to do this stuff? And you know, if you're lending, you don't want the property back, If you wanna buy the property, then that's fine. Yeah. You can do that too. Yeah. Did you have something you wanted to add or you want me to just run off at the mouth the   Susan Jensen 01:14:39 Whole time off?   Jonathan Davis 01:14:40 You're doing, you're doing great.   Bill Fairman 01:14:41 I'm, I'm just, I feel, I feel guilty because I keep cutting you off.   Jonathan Davis 01:14:45 Oh, that's all right. Keep going, Bill, you're doing   Susan Jensen 01:14:47 Great. No, I would say about, about that point, I usually, I, one of the things I really don't like is when any of our accounts that I'm managing are not working. If there's any money in there that's if, if if I've got an account that's up to $8,000, $10,000, that's just, just doesn't sit well with me. So I'm looking for a place to put it. But I've gone as low as one of our accounts going as low as $7,000 and linking that up, partnering with three or other accounts to get that money working. So as long as your borrower doesn't mind cutting four checks per month, it's a great way to build up your small dollar ira.   Jonathan Davis 01:15:34 So you're, you're talking about linking up with other people's IRAs and, and you know, someone's needing a hundred thousand, but maybe you have, you know, 8,001 30 in another and just kind of pairing them all together. Yeah, go   Bill Fairman 01:15:48 Ahead Bill. I was gonna say real quick to, to kind of get around that, if the borrower doesn't wanna write four checks, you can always hire a third party manage That's right. Servicing company, send all the money to them and they'll cut the checks for you.   Susan Jensen 01:16:01 Yeah. Like you guys did.   Jonathan Davis 01:16:03 Yeah.   Bill Fairman 01:16:03 Yeah. Well to, to be fair, we're not really a third party servicer. We can only service loans that we have a piece in. We, we have to own a piece of the loan before we can services. However, there are plenty of companies out there that hire out, they have to be licensed. Some states require certain licenses, others not so much. But there are companies out there that are, are specifically there for IRA folks. Right.   Susan Jensen 01:16:32 It's good for when you're new at this to have a third party servicer or, or someone like Carolina hard money to take care of your loans. And then if something goes south, you're not just left hanging trying to figure out how, what to do with this property. You've got someone that's experienced that can help you with that.   Jonathan Davis 01:16:53 Yeah. I mean, yeah. Cause when, when things, you know, and things do go wrong in real estate and, and notes all the time. So, you know, it's, you know, do they have that loss mitigation experience to help you through a default, through a foreclosure, through a bankruptcy? Yep. You know what, what have you until you learn those things yourself. Yeah, I know. Let's see, someone says, so as little as 20 K would be okay to partner with someone as little as $1,000, as little as 500 would be okay to partner with somebody you, you know, as long as the need is there. Yep. And you can partner with somebody. It doesn't matter what amount you have.   Susan Jensen 01:17:31 Just, I've finished Quincy's book, Quincy Long wrote a book on self-directed IRAs. It's really, really good. It's self-directed. Self-directed. IRA Secrets revealed. He's got a, a chapter in here on small investing, small dollar amounts. Nice. Are you guys still there?   Jonathan Davis 01:17:54 Yeah, yeah, we were, we were just, it was just focused on   Susan Jensen 01:17:56 You. Oh, okay.   Bill Fairman 01:17:57 Cause it cause this show is all about you, so,   Susan Jensen 01:17:59 Okay. I thought I was wondering if I was all alone. So, but he had a, a piece in here that was so good. He, there was an investor that was looking to get a $5,500 loan from someone he connected with this lender who had $550 in his Roth ira. So what he did was he connected six other people, I think it was six five, let's see, there were eight different accounts and five people, IRA owners, and they came up with the 50 555,000. But he, he got, he, they gave him, he gave him 12%, he gave him two points. The guy who found the deal kept the two points and everybody split the, the undivided interest of their, of their, they   Bill Fairman 01:19:03 All got the 12%.   Susan Jensen 01:19:04 Yep. And in the end, and after 10 months, this guy with $550 in his Roth made $1,100 on that. Yeah. So, I mean it's a, it's it's work and he really leveraged his time and his knowledge and Sure. You know, his effort and everything and his network, I mean he found all those people and he made it happen.   Bill Fairman 01:19:28 Yeah. Yeah. And to Mark's question, if you have, if you know someone who needs a loan and you know some other people that have larger IRAs that are willing to go in with you, and because you're the deal maker, you're the deal architect, Right. You put the deal together. Let's say for example, you charge two points. Yep. And let, let's say you split the one point with the, the other people in the deal and you keep one point because you're the deal maker, right. And you take your 20,000, you could charge a little bit. For example, you could do a, and I'm just throwing out easy numbers, you could do 12% and everyone else is charging 10 and they each get a piece of that one point. And then you get to keep the difference between the 10 and the 12 on your $20,000 and that, that way you can right. Jack up your $20,000 fairly quickly because you're the one that put the deal together. Right. It's, it's a great way to do it. How else are you getting into deals? Are you just a lender in some of these, in most of these deals or are you doing other things? Are you purchasing anything? Are you doing any kinda options or, or wrap loans or anything like that?   Susan Jensen 02:20:43 The only other thing I'm doing besides lending is from our self-directed IRAs, I've been converting a lot of our money into investing in syndications.   Bill Fairman 02:20:53 Okay.   Susan Jensen 02:20:54 So self storage and multi-family, The multi-family only in the south and the red states. And I've got money in one self storage syndication in Pennsylvania. And another one that I'm looking at with that has like five self storage facilities in the south and in Texas. So that's what   Bill Fairman 02:21:20 I'm see that's a, you, you were saying that you were always concerned that your money is working constantly and when you invest in a fund, any, any kind of fund including the syndications, you know that money's always working,   Susan Jensen 02:21:33 Right? Yep. Yeah. And we do have some money in one fund. It's a real estate fund, but that's in our self-directed IRAs because our llc, we live off that money. So I've gotta keep that cat that mailbox money coming in. Right.   Jonathan Davis 02:21:49 I want to answer Al Cook's question here. You may have covered this, but what security do you use for these loans? You can use whatever you want. However, I know Sue, no matter what she's doing, she's taking a lean position and probably a first lean position when, when you have these, like when you're working with other people, there's, there's different ways to do it. But I'm gonna tell you probably the, the way that most people with IRAs are gonna do it, it's just gonna be a fractionalized para pursue interest. So everyone has a shared first lean position based off of your investment amount   Bill Fairman 02:22:23 And para pursue, meaning everyone is equal in the transaction based on their percentage of the investment.   Jonathan Davis 02:22:30 Para Sue is French for equal footing. Yes.   Susan Jensen 02:22:32 Yep. It's all undivided interest and it all, it's a percentage and everybody gets what's what's fair.   Bill Fairman 02:22:39 Yeah. And it has to be among people. Either you need to have a third party putting these together who are, is gonna make the decisions for you or somebody in the group has to make the decisions with the, you know, on the front end of this before you ever get into it saying that, you know, if this happens, this is what we're gonna do and if this happens, this is what we're gonna do. Because you can't have, you know, four or five captains and no lieutenants.   Jonathan Davis 02:23:06 Well and that brings up the, the prime   Bill Fairman 02:23:08 When, when something   Jonathan Davis 02:23:09 Does go bad, that's the prime example of, you know, and, and Sue's been with through this with us as well, where we have like, you know, her money and other people's money into a, a fractionalized position on a loan. I'm thinking of the, the movie theater and, and what was it, Monroe, right?   Susan Jensen 02:23:25 Monroe. Yeah.   Jonathan Davis 02:23:27 And you know, we, you know, we had to play quarterback on that because we went through, you know, we had a, we had a movie theater in a restaurant and we went through Covid and you know, it was shut down. And so how do we, you know, work through this and well sue, you know, did it work out okay?   Susan Jensen 02:23:45 Yeah, it worked out great in the end because our agreement, our note it was, we made sure that we were covered with extension fees and late fees. So even though it was months and months, we all made out. Well we just had to be patient.   Jonathan Davis 02:24:02 Yeah. I mean that's, that's the thing. Yeah. You, you, you, you, you'll make mo you know, tip, you know, when you have someone that can handle these things and you know, and favorable outcomes, you know, happen all the time. But you, you will make more than you ever thought you were gonna make when you initially got into the loan. It's just gonna take a little bit longer. That's, that's the trade off.   Susan Jensen 02:24:22 And we're work and you guys are working on one right now with Dewey out in Oregon. Same thing. Yep. Just months of no payments. But you've just gotta be patient and because you guys are competent, you know what you're doing and you've got good attorneys in the end it'll be great. It's just, we all wanna get our principal back.   Bill Fairman 02:24:42 Would you mind telling my wife that I'm competent? Yeah. My my my point to all this Al, is that someone has to be in charge. If it's not a third party, it needs to be one of the people that's invested in the loan. Right. Because you can't have everybody making different decisions. If you can't get a consensus, then that person that wants to go a different direction needs to buy the others out. Right. And then they can take it over. So those are the only things you need to look out for. Everybody needs to be like-minded and understanding that everybody just wants to get the, the return on their investment.   Jonathan Davis 02:25:20 Yeah. And if you wanna avoid any issues like that, if you, if you wanna be a little more savvy, you can do inner creditor agreements when you do loans like this where it outlines all of that for you.   Bill Fairman 02:25:31 Yeah. Who, who makes the final decisions, that kind of stuff. Yeah. Awesome. So thank you so much for being a part of the show. If we have anyone that would like to get in touch with you and pick your brain a little bit more or maybe you want to get in on a deal with you, how can they get ahold of you?   Susan Jensen 02:25:51 Yeah, they could email me at Susan Jensen 97 gmail.com.   Bill Fairman 02:25:56 Excellent. We got it right here in the screen and we will have it over there on the comments section as well.   Jonathan Davis 02:26:02 Yeah, like I said, she's been doing this for over 10 years. There's a lot of experience there, a lot of lessons learned. So a lot of good   Bill Fairman 02:26:09 Stuff. You know, I remember when you had a few accounts with Equity trust and you met a guy in equity trust who you know, right after 2008 all the banks dried up with their lines of credit for buy here, pay here, car dealerships, remember. And that guy was using his IRA to do little lines of credit for those car dealerships so they could buy cars, you know, wholesale and then as they're selling 'em off the lots, they, he would charge a release fee of the title and then he was getting 18% interest on his, on his small little lines of credit. Yeah, I remember that. I thought that was   Susan Jensen 02:26:50 An awesome way. Yeah, glad about that. I remember that now.   Bill Fairman 02:26:53 Yeah, it's funny, it was your group and I'm the one that remembered it. It just stuck out with me that I thought it was a really innovative way to put Yeah, put his IRA to work. But, but you have to understand how all that works and it is, you know, almost a full-time gig doing it anyway,   Susan Jensen 02:27:12 So yeah, I love being around smart people and just learning from smart people cuz there's just so much you can learn in this business.   Bill Fairman 02:27:22 So I, I don't know if you saw that or not, but Tracy Z is on the comment section saying hello and that you're doing a great job. Yep.   Susan Jensen 02:27:30 Hey Tracy.   Bill Fairman 02:27:31 Hey Tracy. All right, now we're gonna have to wrap this up, Sue. Thanks again folks. Thank you so much for joining us on the Real Estate Investor Show Hard Money for Real Estate Investors. We are Carolina Capital Management. Did I say something wrong?   Jonathan Davis 02:27:48 No, I was just, Oh, I don't know, it just tickled me. We,   Bill Fairman 02:27:52 We are private lenders in the Southeast for real estate professionals. If you want us to take a look at one of your projects, go to carolina hard money.com, click on the apply now tab. If you are a passive investor looking for passive returns, go to the accredited investor tab. Don't forget the like share, subscribe, hit the bell and Wednesdays with Wendy. She's gonna, she's gonna hate that picture.   Jonathan Davis 02:28:22 That's an old one.   Bill Fairman 02:28:23 Yeah, don't, don't put that picture back up. Anyway, Wendy is going to be speaking at some events coming up. I think we got some names and we'll put links in the comment section after the show closes out. Let's look at the first one perhaps. Okay.   Jonathan Davis 02:28:51 The   Bill Fairman 02:28:52 Fear message that that one is actually today. So you're gonna be late.   Jonathan Davis 02:28:56 Yeah, that's in or Yeah, that Orlando, she flew down there.   Bill Fairman 02:28:58 Yeah. And here might be another one and Real estate invest her. I don't know exactly when that's coming up, but we'll have all that in. Do we have two more? Okay.   Jonathan Davis 02:29:21 I hope,   Bill Fairman 02:29:22 I hope you wrote all that down.   Jonathan Davis 02:29:24 Quest gone. But yeah, we will put all the links.   Bill Fairman 02:29:26 I'll have it all into   Jonathan Davis 02:29:27 Yeah,   Bill Fairman 02:29:33 I didn't know we had a millionaires panel in the upstate   Jonathan Davis 02:29:35 Man. We have a lot going on. That's right.   Bill Fairman 02:29:37 Sure. Good about all that. Okay, I think we're done. You guys have a great week. We'll see you next week

02-28-2022 Quincy Long Learn more about the interview and get additional links here: https://priceofbusiness.com/self-directed-iras-unveiling-the-best-kept-secret-for-building-wealth/ Subscribe to the best of our content here: https://priceofbusiness.substack.com/ Subscribe to our YouTube channel here: https://www.youtube.com/channel/UCywgbHv7dpiBG2Qswr_ceEQ

On this show, Abhi interviews the Titan of Self-Directed IRAs, Quincy Long. This esteemed guest knows all there is to know about tax-advantage accounts. They tackle the hot topic of current proposed laws in Washington that could drastically affect investors, like you. Find out what this legislation could mean for your assets and what you can do to stop it. You won't want to miss this! For more from Quincy Long, CEO of Quest Trust, visit www.questtrustcompany.com

On this show, Abhi interviews the Titan of Self-Directed IRAs, Quincy Long. This esteemed guest knows all there is to know about tax-advantage accounts. They tackle the hot topic of current proposed laws in Washington that could drastically affect investors, like you. Find out what this legislation could mean for your assets and what you can do to stop it. You won't want to miss this! For more from Quincy Long, CEO of Quest Trust, visit www.questtrustcompany.com

People reading excerpts from books. Featuring: Nicky Lesser, Kay Kasparhauser, Rian Fossett, Deena Vohlmer, Daniel Arnold, Sarah Sloat, Sacha Yanow, Tina Satter, Robin Sosnow, Sharon Mashihi, Greg Zucculo, Synn Stern, Lila Lee, Joan As Policewoman, Quincy Long, and Warren Sloat.

For host Tom Olson, Quincy Long has been not only a friend but a mentor, someone who represents the meaning of 'Good Success' and 'Work to Have to Give'. Today Quincy Long joins Tom for one of the best podcast episodes of The Good Success Podcast. We get to learn Quincy's path to success, his experiences as an entrepreneur and he talks about "How to have integrity in your business".

  When looking at a private loan or lending to somebody, doing due diligence is of utmost importance. You need to keep yourself safe and keep your money even safer. H. Quincy Long, the Chief Executive Officer of Quest Trust Company, talks about his due diligence process when he makes a private loan. He also talks a little bit about lending across state lines, some of the good and the bad there, and what he does to help mitigate risk and make himself feel comfortable with making that loan across state lines. Quincy has been a licensed Texas attorney since 1991 specializing in real estate, and has been a fee attorney for American Title Company. He is also the author of numerous articles on self-directed IRAs and other real estate related topics. — Listen to the podcast here: Due Diligence & Lending Out Of State with H. Quincy Long A Conversation With My first Private Lending Mentor I have a very special guest, Quincy Long, the Founder and Creator of https://www.questtrustcompany.com/ (Quest Trust Company). As many of you know, that is the self-directed IRA custodian that I use because they’re in my hometown. The whole reason why I am a private lender is because of Quest Trust Company and all the great education and networking that they have provided their clients over more than a decade now, a lot longer than that. I’m going to have Quincy talk about his due diligence process when he makes a private loan. We also get to ask him a little bit about when he lends across state lines. What are some of the good and the bad there? What he does to help mitigate risk and make himself feel comfortable with making that loan across state lines. This episode is sponsored by Quest Trust Company and their Self-Directed IRA Expo, which will be held in my hometown, Houston, this August 23rd through 25th, 2019. You can go to http://www.privatelenderpodcast.com/expo (PrivateLenderPodcast.com/expo) to get the links to the ticket and use PLPodcast as your discount code. You will receive 25% off of your tickets. I’m excited to have one of the smartest people that I know in the real estate investing world and probably on the planet in general. Let’s go ahead and get to the brass tacks and the interview with Quincy Long. — I’m honored to have Quincy Long from https://www.questtrustcompany.com/ (Quest Trust Company) on the show. Quincy, welcome to the show. Thank you for having me. Normally I would ask for your origin story, your comic book story or where you came from. I know you used to be a title attorney. You probably tell your story best. Tell us how you got to where you are now. It’s an interesting thing. I’m a serial entrepreneur. When I first started the company or the predecessor to the company, what I did is I was a fee attorney for American Title Company. I closed lots of real estate transactions and had a self-directed IRA. The guy that says I’m not only the president of a hair club for men, whatever he says, I’m a customer. I had a self-directed IRA and I had all these real estate contacts. One day my third-party administrator at the time said, “We wanted to sign affiliate offices throughout the country.” I said, “Sign me up. I’m bored with what I’m doing.” I had no idea that was my interview. Fast forward, here I am after many long years and lots of twists and turns with Quest Trust Company at Texas Trust Company in direct custodian. I fault you for getting me into private lending because it was at the predecessor company, it was in ‘08 or ‘09. I came to the free education that you were putting on in that little triangle room that held about twelve people. That was a while ago. We got most of the first floor of the building now. I know Quest Trust is pretty much the first floor. Your education room is huge with lots of IT and everything. It was those classes that I went to and took my wife to and say, “We need to do this...

Nate Hare joins Jay Conner to talk financing your relal estate deals!A self-directed IRA is one that permits the account owner to invest their IRA in what they know best, free from the investment restrictions imposed by a more traditional brokerage style account. This allows the account owner to choose from the broadest possible spectrum of investments, including those not traded on a stock exchange. There are very few limits on what a self-directed IRA can invest in.All types of IRAs, including traditional, Roth, SEP, and SIMPLE IRAs, as well as Coverdell Education Savings Accounts (CESAs) and Health Savings Accounts (HSAs), can be self-directed. Quest Trust Company gives you the freedom to purchase almost any type of investment. Common investment choices include all types of real estate, newly created and existing promissory notes, LLCs, limited partnerships, private stock, trusts, oil and gas, tax liens, and much more. Take control with a Quest self-directed IRA.Link: https://www.questtrustcompany.com/Free Expo Ticket ($199 regular price): Email: jconnervip@questtrust.com with coupon code: conner19 to receive your free ticket!Nate Hare attended Auburn University on a baseball scholarship in 1996 and played in the College World Series in 1997. He graduated from the University of Portland with a Dual Degree in Business Management and Marketing in 2001, and was the recipient of numerous athletic awards from 1995-2000.After college, Nate moved to Nevada where he attended Key Realty School and later held his real estate license with Keller Williams. His love for Real Estate and numbers then led him to a long lasting career as a Senior Loan Consultant in Nevada.He worked with the largest Private Lenders in the state for 6+ years, and was a top producing Consultant with Silver State Mortgage, Meridias Capital, and The Royal Bank of Canada (RBC).In 2003, Nate was submitted as a nominee for the Mortgage Loan Consultant Rookie of the Year award for all Loan Consultants across the nation. In 2012, Nate's experience in lending and real estate attracted the attention of Quest Trust Company, Inc. Nate began his journey with Quest Trust Company to become an IRA Specialist under the guidance of President H. Quincy Long, and CEO Nathan Long.Since that time, Nate has been a key component of Quest Trust Company's 300% growth and has excelled into the role of Executive Vice President. He currently oversees and manages the IRA Specialist Team, Sales and Marketing Department, Transactions Department, as well as plan Quest's large Networking Events that are hosted throughout the nation.Additionally, Nate Hare is a Certified IRA Services Professional as well as an Executive Officer for Quest Trust Companys Board Committee, the 7-member leadership team responsible for setting the corporate strategy, goals, and annual targets for the company.Nate Hare, C.I.S.PExecutive Vice President17171 Park Row, Suite 100 Houston, TX 77084Phone: 281-492-3434Toll Free: 800-320-5950Fax: 281-646-9701Email: nate.hare@questtrust.comRegister for the Real Estate Cashflow Conference:http://bit.ly/jaymoneypodcastJay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.What is Real Estate Investing? Live Cashflow Conference https://youtu.be/QyeBbDOF4woThe Conner Marketing Group Inc.P.O. Box 1276, Morehead City, NC USA 28557P 252-808-2927F 252-240-2504Channelhttps://www.youtube.com/channel/UCZfl6O7pRhyX5R-rRuSnK6whttps://www.youtube.com/c/RealEstateInvestingWithJayConnerRSS Feedhttp://realestateinvestingdeals.mypodcastworld.com/rss2.xmlGoogle Playhttps://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47yiTunes:https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034Watch on ROKU:Roku https://my.roku.com/add/realestateinvestingRoku https://my.roku.com/add/realestateinvestingWatch on Amazon Prime:https://www.amazon.com/How-Locate-Real-Estate-Deals/dp/B07M9WNZR6/ref=sr_1_3

Quincy Long is a well-known keynote speaker on the subject of self-directed retirement and also co-authored a book on the subject. He educates people how to use their self-directly IRA to invest in real estate. Connect with Quincy Long: http://www.questtrustcompany.com Connect with Seth Ferguson: http://www.SethFerguson.org http://www.ALBACapitalGroup.com

Nate Hare joins Jay Conner to talk financing your relal estate deals!A self-directed IRA is one that permits the account owner to invest their IRA in what they know best, free from the investment restrictions imposed by a more traditional brokerage style account. This allows the account owner to choose from the broadest possible spectrum of investments, including those not traded on a stock exchange. There are very few limits on what a self-directed IRA can invest in.All types of IRAs, including traditional, Roth, SEP, and SIMPLE IRAs, as well as Coverdell Education Savings Accounts (CESAs) and Health Savings Accounts (HSAs), can be self-directed. Quest Trust Company gives you the freedom to purchase almost any type of investment. Common investment choices include all types of real estate, newly created and existing promissory notes, LLCs, limited partnerships, private stock, trusts, oil and gas, tax liens, and much more. Take control with a Quest self-directed IRA.Link: https://www.questtrustcompany.com/Free Expo Ticket ($199 regular price): Email: jconnervip@questtrust.com with coupon code: conner19 to receive your free ticket!Nate Hare attended Auburn University on a baseball scholarship in 1996 and played in the College World Series in 1997. He graduated from the University of Portland with a Dual Degree in Business Management and Marketing in 2001, and was the recipient of numerous athletic awards from 1995-2000.After college, Nate moved to Nevada where he attended Key Realty School and later held his real estate license with Keller Williams. His love for Real Estate and numbers then led him to a long lasting career as a Senior Loan Consultant in Nevada.He worked with the largest Private Lenders in the state for 6+ years, and was a top producing Consultant with Silver State Mortgage, Meridias Capital, and The Royal Bank of Canada (RBC).In 2003, Nate was submitted as a nominee for the Mortgage Loan Consultant Rookie of the Year award for all Loan Consultants across the nation. In 2012, Nate's experience in lending and real estate attracted the attention of Quest Trust Company, Inc. Nate began his journey with Quest Trust Company to become an IRA Specialist under the guidance of President H. Quincy Long, and CEO Nathan Long.Since that time, Nate has been a key component of Quest Trust Company's 300% growth and has excelled into the role of Executive Vice President. He currently oversees and manages the IRA Specialist Team, Sales and Marketing Department, Transactions Department, as well as plan Quest's large Networking Events that are hosted throughout the nation.Additionally, Nate Hare is a Certified IRA Services Professional as well as an Executive Officer for Quest Trust Companys Board Committee, the 7-member leadership team responsible for setting the corporate strategy, goals, and annual targets for the company.Nate Hare, C.I.S.PExecutive Vice President17171 Park Row, Suite 100 Houston, TX 77084Phone: 281-492-3434Toll Free: 800-320-5950Fax: 281-646-9701Email: nate.hare@questtrust.com Register for the Real Estate Cashflow Conference:http://bit.ly/jaymoneypodcastJay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.What is Real Estate Investing? Live Cashflow Conference https://youtu.be/QyeBbDOF4woThe Conner Marketing Group Inc.P.O. Box 1276, Morehead City, NC USA 28557P 252-808-2927F 252-240-2504Channelhttps://www.youtube.com/channel/UCZfl6O7pRhyX5R-rRuSnK6whttps://www.youtube.com/c/RealEstateInvestingWithJayConnerRSS Feedhttp://realestateinvestingdeals.mypodcastworld.com/rss2.xmlGoogle Playhttps://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47yiTunes:https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034Watch on ROKU:Rokuhttps://my.roku.com/add/realestateinvestingRokuhttps://my.roku.com/add/realestateinvestingWatch on Amazon Prime:https://www.amazon.com/How-Locate-Real-Estate-Deals/dp/B07M9WNZR6/ref=sr_1_3

Nate Hare attended Auburn University on a baseball scholarship in 1996 and played in the College World Series in 1997. He graduated from the University of Portland with a Dual Degree in Business Management and Marketing in 2001, and was the recipient of numerous athletic awards from 1995-2000. After college, Nate moved to Nevada where he attended Key Realty School and later held his real estate license with Keller Williams. His love for Real Estate and numbers then led him to a long lasting career as a Senior Loan Consultant in Nevada. He worked with the largest Private Lenders in the state for 6+ years, and was a top producing Consultant with Silver State Mortgage, Meridias Capital, and The Royal Bank of Canada (RBC). In 2003, Nate was submitted as a nominee for the Mortgage Loan Consultant Rookie of the Year award for all Loan Consultants across the nation. In 2012, Nate's experience in lending and real estate attracted the attention of Quest Trust Company, Inc. Nate began his journey with Quest Trust Company to become an IRA Specialist under the guidance of President H. Quincy Long, and CEO Nathan Long. Since that time, Nate has been a key component of Quest Trust Company's 300% growth and has excelled into the role of Executive Vice President. He currently oversees and manages the IRA Specialist Team, Sales and Marketing Department, Transactions Department, as well as plan Quest's large Networking Events that are hosted throughout the nation. Additionally, Nate Hare is a Certified IRA Services Professional as well as an Executive Officer for Quest Trust Companys Board Committee, the 7-member leadership team responsible for setting the corporate strategy, goals, and annual targets for the company. What you'll learn about in this episode: Who Nate and Quest Trust Company are and what sort of work they do to help people invest and grow funds from their retirement accounts Nate explains the difference between a traditional individual retirement account (IRA) and a Roth IRA How contribution limits work, and why contributions are limited but the profits you can gain are not What “entity investing” is, and how ownership of and management of an LLC that is investing your IRA funds is a critical concern What can happen if you are charged by the IRS for a “prohibited transaction”, and how it can be catastrophic for your IRA and for your personal taxes How many investors use their IRAs for wholesaling deals, and why it doesn't take much to contribute to your IRA How to use your small IRA account for the purpose of rehabbing a property, and how your IRA is generally protected from creditors What steps to take to protect your IRA through the use of LLCs, and what actions to avoid taking that could jeopardize your IRA How to get a steep discount on Quest Trust Company's services by mentioning that you heard about them through Ron LeGrand's podcast Additional resources: Website: www.questtrustcompany.com Phone: 1-855-FUN IRAS (1-855-386-4727) Phone: 281-492-3434 (Local call in Houston, TX) Email: iraspecialists@questtrust.com Website: www.thementorpodcast.com/ftdigital

Nate Hare attended Auburn University on a baseball scholarship in 1996 and played in the College World Series in 1997. He graduated from the University of Portland with a Dual Degree in Business Management and Marketing in 2001, and was the recipient of numerous athletic awards from 1995-2000. After college, Nate moved to Nevada where he attended Key Realty School and later held his real estate license with Keller Williams. His love for Real Estate and numbers then led him to a long lasting career as a Senior Loan Consultant in Nevada. He worked with the largest Private Lenders in the state for 6+ years, and was a top producing Consultant with Silver State Mortgage, Meridias Capital, and The Royal Bank of Canada (RBC). In 2003, Nate was submitted as a nominee for the Mortgage Loan Consultant Rookie of the Year award for all Loan Consultants across the nation. In 2012, Nate's experience in lending and real estate attracted the attention of Quest Trust Company, Inc. Nate began his journey with Quest Trust Company to become an IRA Specialist under the guidance of President H. Quincy Long, and CEO Nathan Long. Since that time, Nate has been a key component of Quest Trust Company's 300% growth and has excelled into the role of Executive Vice President. He currently oversees and manages the IRA Specialist Team, Sales and Marketing Department, Transactions Department, as well as plan Quest's large Networking Events that are hosted throughout the nation. Additionally, Nate Hare is a Certified IRA Services Professional as well as an Executive Officer for Quest Trust Companys Board Committee, the 7-member leadership team responsible for setting the corporate strategy, goals, and annual targets for the company. What you'll learn about in this episode: Why you should have an Individual Retirement Account (IRA), and what tax benefits you can receive from a self-directed IRA Nate defines a “self-directed” IRA, and how companies like Quest Trust differ from major brokers like Fidelity or Charles Schwab How a self-directed IRA allows you to choose and control which investments you hold within your IRA Why your IRA should pay any fees associated with your investments, and what rules govern a self-directed IRA How IRA distributions work, what taxes and penalties you might pay to take out funds early, and when you can take out funds without paying What age limits govern the use of IRAs, and why a Roth IRA is particularly appealing for investors What a CESA (Coverdell education savings account) is, what benefits it offers, and who qualifies to set one up What a UBIT (unrelated business income tax) is, what circumstances will trigger a UBIT, why it is important to be aware of, and how to avoid it Why wrap-around mortgage notes do not trigger a UBIT, and why self-employed people with solo 401ks have a built-in exemption to UBIT Why it is important to start taking action now and limit or eliminate your taxes through the use of IRAs accounts Additional resources: Email: iraspecialist@questtrust.com Website: www.questtrust.com Website: www.ronsfreebook.com Website: www.ronsdollardeal.com Website: www.ronlegrand.com

5 Elements to successfuly real estate investing with H. Quincy Long and Jim Ingersoll Join your host, Jim and Quincy at the 7th Annual Investor Training Summit, January 24 - 26, 2019: www.investortrainingsummit.com

H. Quincy Long goes through the top 10 tips for lending money privately from your IRA for a deal. If you’re acting as a private money lender, you need to protect yourself and your money. H. Quincy Long explains his tips on how to handle being a private money lender. To learn more about our Investor Fuel Real Estate Mastermind, please visit InvestorFuel.com.

H. Quincy Long goes through the top 10 tips for lending money privately from your IRA for a deal. If you’re acting as a private money lender, you need to protect yourself and your money. H. Quincy Long explains his tips on how to handle being a private money lender. To learn more about our Investor Fuel Real Estate Mastermind, please visit InvestorFuel.com.

Quincy Long

Self-directing your IRA and investing it properly has huge benefits but it can be a bit intimidating or confusing when starting out. Many investment sources are not prepared to help you but there are many ways you can learn more about self-directed investing. Quincy Long of Quest IRA joins us on the show to explain and help simplify the concept and strategy behind this type of investing. You can find show notes and more information by clicking here: https://bit.ly/2PcZxcH

H. Quincy Long is the President of Quest IRA and works in the Houston corporate office. Quincy has been a licensed Texas attorney since 1991, specializing in real estate, and has been a fee attorney for American Title Company. Widely known for his enthusiasm, attention to detail and knowledge of the Self-Directed retirement industry, he is one of the most sought-after keynote speakers in the nation.

Quincy Long is the president of Quest IRA. The Quest IRA corporate headquarters is located in Houston, Texas, however they administer clients accounts from across the nation, with offices in Dallas and Austin, TX. They opened our doors in early 2003 and have since developed into one of the leading self-directed IRA administrators in the nation. With over 12,000 satisfied clients, they pride themselves as having world famous customer service. Quest IRA administers IRAs for the purpose of investing in alternative investments, including real estate, notes, oil and gas, and private placements, just to name a few of the almost endless investment possibilities. All of the accounts offered at Quest IRA are self-directed, meaning you get to make the decisions and their staff will provide expert account administration and transaction support services. They like to say that their best clients are the most educated clients, so in an effort to help you make the best investment decisions, they offer several educational weekly classes in their offices and online. In addition, each month Quest holds many presentations, workshops and seminars across the U.S. to educate people and allow for excellent networking opportunities. What you'll learn about in this episode: Why education is critical for those who are looking to invest Why investors don't need a lot of money to invest in real estate How to invest in real estate through a self-directed IRA which lets you choose your investments How to buy nearly anything through an IRA except for collectibles, life insurance, and a few other exceptions Why investors may be intimidated by investing through a self-directed IRA, even if it's an optimal solution Why it's important to get direction when investing through an IRA since there are rules regarding IRA investing How an IRA can be distributed and inherited through a family, even on a generational basis How an IRA is ultimately a step towards living a tax-free life Resources: SmartRealEstateCoachPodcast.com/webinar SmartRealEstateCoachPodcast.com/termsbook SmartRealEstateCoachPodcast.com/ebook SmartRealEstateCoachPodcast.com/QLS

H. Quincy Long provides 10 tips for you to take advantage of when using private money for your investment deals. When you have a private money lender, there are steps to take to make sure they know their money is in good hands. If you'd like to learn more about our Investor Fuel Real Estate Mastermind, please visit InvestorFuel.com.

H. Quincy Long provides 10 tips for you to take advantage of when using private money for your investment deals. When you have a private money lender, there are steps to take to make sure they know their money is in good hands. If you'd like to learn more about our Investor Fuel Real Estate Mastermind, please visit InvestorFuel.com.

Today’s guest is all about helping people build their financial future through investing in assets that they actually understand. Quincy Long is the President of Quest IRA, Inc., a third-party administrator of self-directed IRAs and other plans, and his background in law means he has the understanding of the dos and don’ts when it comes to investing. In this episode, Quincy breaks down the basics of alternative investments and self-directed IRAs, as well as the specific opportunities in real estate. Listen in to hear how more traditional investment houses limit investing options, advice for getting started making deals, and Quincy’s predictions for debt and debt spending in the coming years. You can find show notes and more information by clicking here: http://bit.ly/2FGE8Yl 

There's much more to 'leverage' than just financial leverage. To be successful in real estate investing, it's critical to leverage your network, the knowledge of others around you, and your time. Once you've cracked the code on how to rely on others and create win-win situations, your performance will improve dramatically. Quincy Long tells us more in this FlipNerd.com Expert Tip show. Don't miss it! Get your copy of our FREE "Profiting with Rental Properties" Guide!

H. Quincy Long provides 10 tips for you to take advantage of when using private money for your investment deals. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

H. Quincy Long provides 10 tips for you to take advantage of when using private money for your investment deals. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Quincy Long helps people take control of their Individual Retirement Account (IRA). Often, you are taught that the only things to invest in are bonds and stocks. However, using a self-directed IRA, the possibilities for alternative investments are much more diverse! You can find show notes and more information by clicking here: http://bit.ly/2ra57PC 

H. Quincy Long goes through the top 10 tips for lending money privately from your IRA for a deal. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

H. Quincy Long goes through the top 10 tips for lending money privately from your IRA for a deal. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Today, H. Quincy Long discusses various strategies that you can utilize if you're looking to invest your IRA with $10k or less. For a limited time, access a FREE Master Class called the "Real Estate Millionaire Blueprint" HERE!

Today, H. Quincy Long discusses various strategies that you can utilize if you're looking to invest your IRA with $10k or less. For a limited time, access a FREE Master Class called the "Real Estate Millionaire Blueprint" HERE!

In this episode I am talking with Quincy Long from www.QuestIRA.com.  He is teach us about how to set up and use your retirement account to invest in real estate.  Quincy also tells us how we can investing real estate with very little money.  He gives us examples of several deals that he has done.

H. Quincy Long joins us today to talk about what companies like Quest IRA do as 3rd party administrators for their clients. He also talks about different investment and retirement accounts and how you can leverage them to build capital and protect your money in the process. Don't miss educational episode full of game-changing wealth-building and investing tips that you can start using today to achieve freedom you have been longing for! Get full show notes and more information here: http://bit.ly/1j4ucaW

Quincy Long, the president of Quest IRA, Inc. sits down with us today to talk about self-directed IRA's and how investors are using them to maximize returns in their retirement accounts. Quincy also shares with us some of his Best Deals Ever!    You can get more information on Quest IRA at questira.com or check out Quincy's blog at irawebadvisor.com.