Ep #161: Self-Directing Your Future Wealth Building and Financial Freedom with Quincy Long

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.

 Minute Markers:

  • 2:34 – What types of investments are considered “alternative.”
  • 5:10 – The limitations of more traditional investment houses.
  • 6:27 – What it means to have a self-directed IRA.
  • 9:20 – Where to go to learn more about self-directed investing.
  • 10:07 – The specific opportunities in real estate.
  • 13:51 – How to take advantage of the opportunity to mitigate taxation.
  • 14:41 – The two types of costs associated with taxes.
  • 17:30 – How to get started with joint ventures or limited partnerships.
  • 18:29 – Where to find dealmakers.
  • 22:10 – The advantages of doing joint ventures instead of borrowing money from the bank.
  • 24:33 – Quincy’s predictions for debt and debt spending in the future.

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