I have the distinct pleasure of interviewing the President of Quest Trust Company, Mr. Nathan Long. Speaking of the Quest Trust Company, they are the sponsor of this episode and we’re a few days away from their Self-Directed IRA Expo. It’s an extravaganza. 2018 was a top-notch event held in Dallas, about 500 attendees came in and attended two days. This 2019, they’re going to do three days and they’re expecting about 1,000 if not more. I know tickets are going fast. If you do want to get your tickets and get a 25% discount, go to PrivateLenderPodcast.com/expo. There will be a promo code and a link that you can get a 25% off your ticket, your admission, if they still have them. Go check that out. I know they were selling like hotcakes. Back to Nathan Long. He’s the President of Quest Trust and has put on a great expo. We’re going to talk about that here. I do want to forewarn warn you that I had this great interview already mapped out and bullet-pointed and all this stuff that I was going to talk to Nathan about. All of that went out the window and we ended up shooting the breeze so to speak. Let’s get down to the brass tacks and get to the interview with Nathan Long.
I’m honored to have Nathan Long. He’s the President of Quest Trust Company. Nathan, welcome to the Private Lender Podcast. Thanks for coming on.
I appreciate you having me.
You’re going to be the last interview episode before the big Quest Expo. Let’s go ahead and talk about the 800-pound gorilla in the room and what a great event the Self-Directed IRA Expo is.
It’s so cool to hear that. When the girls came to me and said, “We want to hold one of these expos.” I told them, “No. We’re not doing that. We’re not in the expo business. That’s not what we do. We help other educators. I don’t want to feel like I’m in competition with people that are selling coaching or education.” They looked at me and said, “We’re doing it.” I said, “If you want to do this, then I have one rule. Every ticket you get, every vendor money that you get goes back into the expo. It’s a zero-profit point for Quest,” and then so many people showed up. They’re so happy. I think it’s because it got this momentum and the speakers got better and they got so excited. More people come and then they would add another thing or add this, they’ve constantly kept it exciting right up to the end. I know they had a little app that people were still on that app communicating months afterwards about deals and stuff and making deals on it. It was cool. I’m proud of them.
They did a bang-up job last 2018. I consider myself lucky having had a table and being on a panel and being able to talk. That was fun. It was a lot bigger than I expected. I got a little nervous when I went up on stage. It’s like, “I could talk to you about private lending,” then there are more people than I expected. I’m like, “We can switch gears. That’s fine.” It’s not just also for private lending and real estate. There are other aspects to a self-directed IRA, but it’s heavily geared towards the real estate side of things.
Quincy and I, we’ve done lending personally for so long. We talked about it. Quest is ideal in the private lending area. It’s mirrored perfectly.
You hold about 90% of the money that I lend. It goes through Quest because of the speed and the ease. I love the fact that I can slowly but surely transfer some of that traditional IRA money into Roth IRA money before the government decides that they’re going to get their hands on it. In case the NSA is reads this, this is all over. I said the government will take our 401(k)s one day but hopefully, not while we’re alive. There’s my doomsday speech. I’m sure you have your own opinions on it.
I’ve heard it from the beginning of time.
Since they were invented in the ‘70s.
“They’re going to take them away.” It’s a political suicide to do it. Now, the atmosphere is the opposite. You’ve got to you have to understand from a political standpoint, IRAs are not much jeopardy. They’re going to expand it more. Why? Because they’re doing these Roth conversions. That’s not necessarily great for America, but it’s great for Americans. What’s good for the politicians who are in office is it creates taxation money for them to spend right now while they’re creating tax-free income for Americans in the future, therefore stifling what they’re going to receive in the future.
I’m glad you explained it that way. That’s a very succinct and easy way but very bipartisan. You convert now, you get some tax money so the politicians can spend it now. Then you make yourselves better for not having the tax hit later on in life when you need the money.
Honestly, you should take advantage of them being stupid right now and take a look at the tax falls. Never be frightened by, “This might happen.” A lot of things might happen, but we shouldn’t operate inside the rules of an organization as it exists now, with the eyes towards the future but let’s not be frightened of it.
Finding a lender is building a relationship; finding a deal is a different skill set.
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I like that too because a lot of people say, “I would love to lend on my IRA, but I’m afraid of paying UBIT tax or I’m going to get taxed on it.” Would you rather have 100% of nothing or 90% of a good deal or whatever that comes out to be? I agree with you. Don’t be afraid of what could happen. Play within the rules. You do a great job helping with that, like what I told Quincy, the reason I am a private lender is because I started going to this place called Quest that had this little triangle room with about thirteen seats and a projector. That’s how I started. That was over a decade ago when you were getting going. That was how everything started for me and listening to your stories on what you had done with private lending or some of the good, the bad and the ugly of your clients. That’s where I want to steer right now. I like gory stories. The sexier and the scarier, the better.
We’ve done a lot of lending over the years to qualify being allowed to talk about it. Quincy and I privately loaned money to real estate investors for a long time. In addition to that, we grew up working for Forrest Clark. He was a closing attorney. He’s also my cousin. He’s tried to retire a bunch of times, but he doesn’t like retirement very much, so he comes up and helps us with Quest as an advisor. He and his side of the family also loaned for a long time. My mom would lend for a long time and that’s what led us into the Quest many years ago or how we developed that.
Quest develops for self-directed IRA company so people use retirement accounts, rolled 401(k)s, do private assets. The big private asset is buying loans or creating a new loan if you want to say it that way, either way but buying the asset or lending money out of your IRA is a big function of that. We’ve been able to see hundreds of thousands of deals as Quest has grown and people have done this. Finally, my final piece of qualification is my wife is a real estate attorney. Her primary income is drafting documents for lenders. I get to hear all of her stories when it goes bad from an attorney’s side of view. We’ve had a lot of experience in it, but it’s been good to us.
You are the originals in Houston as far as private lending is concerned. You’re the ones that brought self-directed IRAs to the Houston market, the real estate market. It’s you, Quincy and everyone that’s been there for any length of time. You see them every Saturday at their REIAs. You see them in the evenings. You are putting in the hustle and the effort and making the experience for not only the lender but also the borrowers very seamless.
That’s the whole idea. We make money when someone borrows or loans at Quest. That’s how we get charged a fee was when someone does a transaction. There’s certainly self-preservation to it but truthfully, Quest isn’t as empty all by itself. It was created because I and Quincy enjoyed lending as we got into it. We enjoyed what it did for our family and our wealth building and understanding of it. At this point in my life, one of the greatest things about working here at Quest is I hear it all the time people saying, “This information changed my life. We live a different lifestyle now before and after Quest.” They said, “I wish I had opened an account for $100 years and years ago or had I had this information years ago.” It’s very complimentary. It’s a phenomenal way to go to work and earn a living and I’m very blessed to be doing that.
It took me a few years to open an account. I kept going to the free education. One of the things I do want to touch on is the aspect that Quest puts these education and networking opportunities together all the time, free of charge. I can’t tell you the value of who you meet there. Not from a vendor’s perspective but other borrowers, other real estate investors and lenders. I like for you to talk about the value of a network when building your team as a lender.
I think that’s important. It’s also important if you’re a real estate investor that you understand that you’ve got to separate a little bit out your duties and obligations and things that you need to do. You should always be looking for two things if you’re a real estate investor in my opinion: deals and money. There’s a dramatic difference between those two things. With a deal, as soon as you get a deal under contract, what do you better do? You better go get another one because when you get done doing that deal, you’ll be unemployed unless you have one in the shoe.
What are the skills that get you a good deal? You’ve got to negotiate good. You’ve got to get the best bargain on contractors and suppliers in the house itself, etc. When you find a private money lender, when you have somebody that’s willing to lend you that money secured by real estate and is used to doing that or you’re getting them used to doing that and they loan you money. When the deal is done, what are they going to do again?
They’re going to put the money back to work.
“That worked out pretty well. Can you do that again? I might have a little money I didn’t tell you about the first time.” There’s always more money on the second deal than there was on the first. Whether it was, “My mom has some or my brother has something,” there’s always more. You almost got to treat those things completely different. Finding a lender is building a relationship and finding a deal is a different skill set. I think sometimes husband and wife works well. You have one that’s developing relationships and one that’s finding deals. You’ve got to make sure that you don’t grind on your lender, especially the first time that you see them. The best way to do it with lenders is maybe to be generous a little bit on the first time that you meet them, then you squeeze them down once they get to you. I know I have borrowers that do that to me. I used to pay that money all the time, but I’ve got a lot more borrowers and a little bit more things. They got a lot more equity. I’m paying a little bit less interest now. Do you know what I do? I can let that money sit around every time. It’s the truth. It’s me. I even know better.
You see it coming and you’re like, “I’d rather have my money working for me.”
I’d rather have my money working and I liked this guy. He’s funny and we’ve been doing this a long time. I want to keep doing it. It’s about developing those relationships and we figured that out. We always have to be a neutral third party. The best thing to do is to have people come and meet each other. When my clients have cash sitting in their accounts who feel like they need to go find an investment, where they go is to those meetings.
It doesn’t hurt that Quest usually has a bar there as well is.
Sometimes and I don’t think it’s coffee.
No, it’s not. I can attest to the quality of the merchandise behind the bar. You do a bang-up job. I was talking to Quincy about Fright Night. I alluded to a story that you told long time ago, somebody in a class stood up and said, “What asset class does your most successful Quest client deal in?” Without hesitation you said, “Horse’s semen.” You shot a story about how this guy works around horses. He purchased the feedstock so to speak and then parsed it out to various farms and from what I understand, his retirement is looking much brighter.
If you invest in things that you know and understand, you’ll do better. The problem with most people investing is they’re like buying this blanket mutual fund or they’re doing these very archaic type of financial planning that works well for your great grandfather, but this is different times. There are a lot of different things and you have to be more actively involved if you want to have any type of reasonable returns from your retirement. Therefore, there is a good field for self-direction. It doesn’t mean that everybody should self-direct their IRA or buy notes. You have to have some knowledge, you have to have some self-responsibility and when it goes wrong, you better be able to take some action and know what to do. If that’s not you, you should probably stay out of the field. It’s been so good to my family in building wealth and for so many people, I’ve got to say that there are more people that it’s better for than the opposite if they’d had a little bit of education and know what to do.
I’m inspired by Quest to create this podcast to help most people go from, “I’ve got all this training at Quest. How do I make that?” At some point, you’ve got to make a leap. If you’re going to be a landlord, at some point you’ve got to buy a house. You’ve got to make that leap into it. If you’re going to be a flipper, you’ve got to go get something under contract. You need to go to a closing. That’s where I came in because that leap is not very wide. It’s not the huge chasm that you see before you, once you get to the other side, you look back and it’s like, “It’s just a little bump in the road that I had to step over. It’s no big deal,” and then build your confidence from there. Let’s talk about confidence. Lending has been great for you and your family. Give me some examples of where it wasn’t for the person. If things went bad, the person probably shouldn’t have been a lender, didn’t do their due diligence.
I’ve seen that category plenty of times before. It’s like, “Nathan, how did you get so smart?” “We did a lot of dumb things.” I always have these rules and each one of those rules came with a painful story. I don’t learn my lessons easily. One of the best lessons I learned is you better understand what to do in the event that you do have to default. I remember that we did a loan to this couple. They were so cute. They were dancers. They were from Australia and they had a cute accent and had this great business plan. They found this property in North Houston. They had some money themselves, but because they were foreign-born, they couldn’t borrow to buy purchase property here so private money made sense. What they did is they bought this odd-shaped piece of property. It had a little rundown house on it, but it was pretty big. It was right there at the very north part off of 45 towards the woodlands.
They said, “We’re going to fix up the little house, we’ll live in it and we’re going to get these modular houses that are completely stripped out, nothing in them. We’re going to put them in there and we’re going to make luxury dog kennels out. I’ve got the money for the houses. You help me loan the money for the land? We’ll do all the fix-up.” That sounds good, lots of equity, pay them. Years go by, they make the payments. They say, “Our business is growing and we’re very popular. This idea of these luxury dog kennels, we want to put some more. We need a larger loan. Would you loan us some more?” They’re paying us 12% interest. I’m like, “Sure.” The property has gone up in value. Everything is great. They’re deported to Australia for non-payment of taxes in Australia.
More complicated than that are the lenders that I put on here. I had grouped a whole bunch of people together as lenders in order to make the different loans. Different members of my family and some other things. In the meantime, one of those members had passed on and the stuff they’d inherited over to other people in the family. Unfortunately, the way the deal was structured, those people were disqualified from each other and I had a problem there. The moral of the story is as this thing unwound, it got more and more complicated and eventually what we ended up doing is selling the property back to the people that were managing the dog kennel. To this day, I’m still getting payments on a dog kennel many years later.
In other words, I loved the loan. There were lots of equity in there. I was getting a great interest rate, but I forgot a very important lesson. Don’t loan on something you don’t want to own. I didn’t want to own a dog kennel. I love dogs. I got four but owning a dog kennel is a different thing. In result, we have done pretty well over the years. I put a check into my personal account for $280, one of the small payments. I have a small portion outside of my IRA, so it worked out well. In the end, we didn’t lose any money on that one, but that was one of my tough ones to learn.
It’s a successful mistake.
It ended up being that, but it took years. The original investment was many years ago. I’m getting mailbox money. I’m not too worried about it now. I can think of other individuals if they tie up their money too long. Maybe they’re approaching retirement age where they might need that. That could be devastating in certain types of situations.
That’s one of the things you said, private lending is not for everyone, self-direction is not for everyone. I agree because it’s going to depend on your circumstances. If you need some money that’s liquid, in chunks, then you probably don’t want to tie up your money into a deed of trust for months, years.
I’ll personally do one-year lending. I don’t do points right now because the market’s not calling for it. There is so much private money out there. There’s probably more private money than I’ve ever seen out there that’s driving the rates down on things. A person pays for my note data trust to be drafted up and off we go at our interest rate. Now what I do is three-bedroom, two-bath houses. I know what to do with that if I have to foreclose on one, two or three-bedroom house. It’s not something that’s giant or ratty, just something in between there. I can up it on the market, I can rent it, I could owner-finance that, whatever. I have choices.
It’s one the beauties about private mortgage lending is the choices that you have. The insurance policies that other people pay for that are put in place to protect your money. I can’t think of any other asset class out there that comes near it.
If you invest in things that you know and understand, you'll do better.
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You require it.
It’s non-negotiable. It’s part of it. You’ve got title insurance, property insurance, hazard insurance and now after Harvey I require National Flood Insurance. It’s cheap. If $400 is going to kill your deal, I don’t want to lend on it.
I had a conversation with somebody. He was a pretty big borrower and he’s like, “I like to draft my own note and deed of trust and I put things in there to protect me. That’s why we’re going to use my note new trust rather than training.” It’s expensive using those outside attorneys to draft those deeds of trust. First of all, I throw him a couple of advice because I know for a fact, it’s all good until it goes bad. When it goes bad, you want to have the right paperwork and you should have an attorney draft that up. I stopped and think and I said, “What are you protecting yourself from? Because if it’s a contract between a lender and a borrower, I’m the lender. I fulfilled my contract the moment I handed you my pile of cash.” All the protections are for me and we’re going to use my attorney and this is how it’s going to work. As a lender, you have to be prepared to say that to people. As a borrower, you should be trying to protect their interest the best you can. Going back to how I opened up that this conversation is it always goes back to one thing. As a borrower, you’re always opening that relationship up so that you can build on it.
One of the things I hate, and I laugh at it now, but as soon as someone finds out I’m a private lender, “What are your terms? I’ve got this deal. I don’t know you.”
I don’t even go down that conversation.
I say, “Everything is on a case-by-case basis, person-by-person basis.” Like you, I like the three-bedroom, two-bath brick home and a master plan community because I know the comps are going to be actual comps.
As soon as someone’s talking to me about interest rates or whatever and they haven’t talked to me about what’s important to me first, which is security, “What’s the house? What are you going to do with it? Who are you? Do you have a reputation of getting the stuff done?” Those types of things.
What I’ve gleaned from your education is I look at three things when it comes to underwriting a loan. Number one, are they going to cut their own throat to pay me back? Because if they do, I’ll loan to them again. If they’re going to say, “Way it goes. I got an education and you paid for it,” that’s not who I want to loan to. I want to make sure. I look at them. I also want to look at their process to make sure that if they’re a landlord, they’re landlording. If they’re a flipper or a house rehabber, they’re doing that. They’re not going, “I’ve flipped 30 properties. Let’s go develop this apartment complex.” I look at that property and say, “Is this something I would be comfortable owning?” I don’t have to live in it, but do I want to own it? Do I know what to do with it? Can I operate it? Can I dispose of it? What can I do? That is such a good lesson that you’ve come up with because I have bought properties I didn’t want to have, let alone loan on him. It happens from time to time.
Even if it does. Even under the best circumstances, I’ve had lenders die or get sick. It wasn’t like a character default as to why I had to foreclose on the person. There’s not much they can do to help that.
Give me a home run story.
I don’t do this anymore, but I used to love equity appreciation loans, where I’d find a young investor, and I’d be like, “I’ll put up all the money. You do all the work. We’ll split her down the road.” I would treat it like a loan. I would lend them the money and then the interest rate would be an equity split. I had a grumpy old guy, could never borrow money because he was grumpy. Nobody liked him, but I knew something. I knew this guy swung a good hammer. He did a nice rehab and he was an honest old fart. He would come to real estate events but nobody wants to talk to him because he was grumpy. I’d seen some of those rehabs he did so pretty good. I said, “I’ll lend you the money, 8%. We split it when we sell it.” He said, “Okay,” because I want him to hold onto these for a year or two until they come into value and rent them. I did that and I got 8% for two years. When he sold that property, I had originally loaned him $42,000. He fixed it up. He ended up putting a little bit of money into it that I didn’t lend him a little bit later, but the bottom line is when he was able to sell the property, we sold it for $262,000. We were both pretty happy with that.
I got 8% interest for about two and a half years. I split about $140,000 to $150,000 profit. We did some repairs. We had to put well in or something like that whenever we went to sell it. It worked out well. I don’t recommend doing those if you go to it by the lending process now because I’ve had so many of those equity appreciation loans go bad. Now that I understand a little bit more about legal contracts and all this stuff, I’m not a real big proponent of. For most people, I think they’re good for like that story. In other words, one of the things about this guy is if it came down to something, I knew I could figure out how to fix it with the guy. We can talk and we would talk it through and I knew this because I did another deal that was similar. We bought a property and it had a well on it. The well ended up being drilled wrong. It was sitting on someone else’s land. We had a major problem with this particular property and we were able to talk through it. As a lender or a borrower, we figured it out and work through it.
Now you’ve opened that can of worms because having been an oil field specialist doing directional drilling, that’s your job if you mess up. I’m curious, let’s back up on this water well.
They had drilled a well without a survey. I got Bob out there with his backhoe or whatever.
It’s my cousin, Johnny’s company. They’ll do a good job. I can see that. You’re going to have to put some new well in there.
We ended up buying the well from the neighbor, that we installed.
That’s a racket. You buy the well from the neighbor that you paid to install. I like that. We’re laughing because these are the mistakes and this is what I love talking about. It’s why I have this podcast.
This is a pretty experienced investor that it happened to. Not super experienced but he was experienced enough. As an experienced lender, we probably should have known better.
Did he call you and say, “We have a problem?”
Yeah, that’s the whole thing. That’s the amazing thing. The investors who talk to me never have a problem and most lenders are like that. It’s the ones that hide whenever you’re late or can’t make a payment or act like it was a mistake. Here’s something that happened to me. I have a particular lender that I loaned to because he pays me back well. He likes to buy houses and fix them up and sell them, but he likes to hold on to them while he can. He buys as many as he can and continue to hold onto them until he can take them out with a big balloon note. I might have ten or fifteen loans out to him at one time. All these properties were in Galveston County, down in the coast and the hurricane hit.
I remember my family looked at it and we said, “We’re exposed to 27 hurricane-hit properties as a lender,” Family in general, everybody, mom, our 401(k) here at work. I started calling my lenders up and I said, “Do you need some time to get this stuff fixed?” It was amazing that each one of them said, “Thank you very much for the offer, Nathan, but you’re my lender and I will pay you no matter what happens.” I never lost a dime. No flood insurance. A lot of them didn’t have flood insurance. A lot of them were not worth what they owed on after the hurricane. Even if they weren’t totally damaged, the value of the properties had dropped in that area. At that time, the value of the lender meant everything in the world.
I can’t stress to people enough, it’s communication. Talk to people, send an email, admit it, “I’m in the pickle.”
We did it. Most of the time I do.
I had to cancel one of my coaching classes because I’ve got 80-year old parents and things happen. I’ve got to go take care of some things from time to time. The same thing happens to investors. Mother nature happens. Things like Ike and Harvey come along. There are earthquakes, tornado, stuff happens. Let us know about it. Give me an idea of what your plan is. Don’t be quiet. I had to find out the hard way that the house I owed money on is getting foreclosed. I loaned money to this house and the second it’s getting foreclosed, I was not happy.
You get wiped out there.
It would have been better if I had a little phone call, a little heads up a few months ago, “I’m in arrears with the first guy.” We could have done something, but when I find out four days before foreclosure and I called the attorney and he’s like, “Give me $60,000 and we’ll call it even.” I’m like, “No.”
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That leads to another one of my rules. I only put myself in a second position in Texas because this is state-specific, if I know the first. In other words, if the lender is Forrest, my cousin or something like that. He’s on first, a little bit more rehab money and there’s a lot of equity, no problem. Maybe the second is the easiest way to go. I know all audit parties and I can somehow solve the problem. I know how to solve the problem if the first is defaulted on. I have enough money to go in and pay off that first or take it over some way. Other than that exception, I don’t do seconds for that reason.
I tell people don’t do seconds, especially starting off because it is a different risk profile. In some cases, I will if have an agreement from the first lender that as soon as it goes into arrears, I can step in and start making the payments and take over until I can dispose of the property. We know who’s on first or if somebody has let’s say a rental house and they want to put a second lien on it to fix it up for hurricane damage or something. If they will cross-collateralize another property where I do have a first.
That’s a great point. I could talk a long time about cross-collateralizing.
As long as I have a first on something and there’s a trigger in my documentation that if they don’t make a payment I can foreclose on that other property, then I’m okay with the second. It’s a little bit more advanced. Since you got excited on cross-collateralization, let’s dive into that a little bit.
It’s a cool way to solve a problem a lot of times as a lender. Back to my situation, I’ve got a borrower that I give a one-year loan to. I’ve got a large exposure now to him and all these properties. Some of the properties have gone up in value. Some of them may not have. Some of them he’s in fix and repair. He’s got his own construction company. I’ve got a lot of exposure. What I ask now when I redrafted those notes at a certain point, I said, “It’s time for us to cross-collateralize.” In other words, if I foreclose on this property because of a default and there’s still judgment leftover, I can then go after another property and go after another property and go after another property. What it allows me to do is to be collateralized by all the properties that I’ve to lend into all the loans. It makes them cross-collateralized or like for you, a simpler version of that is, “I need some more equity. I’ve got a couple of properties. I got this first note. What can I do?” I can add some collateral from another piece of note. It’s a nice tool in the toolbox if you know how to use it for both the borrower and the lender.
The only thing I don’t cross collateralize are homesteads where people live themselves.
I don’t lend to homesteads.
I do with the owner-finance model if it’s been through the RMLO, I will provide oftentimes.
Quincy will do that. He’s common on that. He likes the long term-loans because he likes buying the front-end of the loan, selling the back-end or work in the payment spread. That only works well with long-term emprise loans.
It’s no homesteads. I don’t want the house where you live. I don’t want anyone telling their wife that I’m the big bad guy that’s going to make them leave. Generally speaking, don’t mess with the homesteads, especially in a cross-collateralization aspect of it. If somebody has a property that’s owned free and clear, it doesn’t have to be real estate, it can be boats, cars, RVs, anything with a title that you can collateralize and take as collateral. This is the beauty of it. This is creative financing.
I took a motorcycle once for back payments on a loan.
We touched on a lot of great topics.
I’m sorry for being all over the place, Keith.
That’s not a problem at all. This is an idea of what people can expect at the Expo, the type of knowledge, stories and education that’s going to be coming. This is my second year. I’m going to have my table. Thank you for accepting my application again. I appreciate that. I love you guys. I am looking forward to you and seeing you there. We’re going to try to put a little happy hour together at the Royal Sonesta access bar the night before. After everyone sets up their boots, we’re going to advertise a little meetup. For everyone who comes into the conference and some of the local investors, we can hopefully mingle.
I heard about that. I’ll be there for that.
I definitely will be. We’ll see what type of bottle I can reserve. Nathan, thank you so much. I appreciate the stories and your time.
I appreciate what you’re doing. I want to tell you that I like the guys that are getting the right message out. You’re talking about the things that are real and the things that are hard, as well as the things that work well. You’re providing good education and doing good contacts. You’re doing good stuff in helping a lot of people. We appreciate you, Keith.
Thank you. I appreciate that. That’s what it’s all about. I saw a bit of a need and you guys are limited by your rules. I can go stand up in front of somebody and say, “I wouldn’t make that deal if I were you.” I’m looking forward to seeing you. We should announce the Quest Expo, August 23rd through the 25th. I’ll see you at the Expo in August. I do appreciate the kind words as well. It means a lot.
The VIPs are sold out. You can go to PrivateLenderPodcast.com/expo. You can get your link to your ticket and a promo code for 25% off. They are already low-price. $150 for three days of something that Warren Buffett will approve of.
If you’re in a different city or something, that’s even better. These types of things make sense to get up, leave your house and completely expose yourself for three days. Everybody should do that several times a year.
There’s no selling. It’s all information, education and hopefully a few laughs.
Keith, I appreciate it.
Take care, Nathan. I’ll see you later.
I want to thank Nathan Long for coming on the show and shooting the breeze with me. I had a lot of fun as you can probably tell. For more information about Nathan or the Quest Trust Company and the Self-Directed IRA Expo, you can go to PrivateLenderPodcast.com and this is episode 82. I want to say that this podcast is free, but I do ask that you pay a small price with your time and that is to leave a rating review over at iTunes. Even if you’re on Google, Android or some other podcast platform, iTunes is still the prime mover in a lot of the rankings and whatnot. The more comments and ratings I get, the more this gets in front of other people who can then hopefully learn from my mistakes.
Please spread the word out with a rating or review at iTunes. Please connect with me on social media: Facebook, Instagram, Twitter, LinkedIn and BiggerPockets. Links to all those channels can be found at the PrivateLenderPodcast.com. I want to thank you for tuning in. I also want to thank everyone who keeps reaching out and sending emails. I do appreciate all the feedback, so please keep doing it. Besides good health and self-awareness, I wish you all safe and prosperous private lending. I’ll catch you in the next episode.
As the President of Quest Trust Company, Nathan Long oversees the operations of the company and aids in improving the practices implemented. After joining his brother, Quincy and the Quest Trust Company team in 2007, Nathan has aided in growing the company to over ninety employees located in four different cities, with continued expansion expected in the near future.
Prior to working at Quest Trust Company, Nathan was in the automotive industry for over 17 years as an upper-level executive for Automotive Investment Group, AIG, and participated in growing the ABC Nissan Branch in Phoenix, Arizona. Nathan also holds the title of Certified IRA Services Professional (CISP), from the Institute of Certified Bankers.
Throughout his time with Quest, Nathan has focused his time and efforts on providing superb customer service and developing excellent educational resources. As a devout vegan, Nathan loves animals and has a passion for cooking. In his spare time, he can be found working with rescued animals and traveling.