We’re proud to welcome our special guest today, Derreck Long of Quest Trust. He has a strong pedigree when it comes to note investing. His father is Nathan Long and his uncle is Quincy Long, who are two of the industry’s top names in note investing. Derreck is a Certified IRA Services Professional (CISP) based in Houston, Texas.

As a member of Quest Trust’s Management and Education Team, Derreck handles all questions about Self-Directed IRAs and investment options for clients and prospects. He also helps establish business relationships with like-minded companies—like NoteSchool!

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Note investing is one of the few sources of income where, if you do it properly, you won’t have to pay income taxes on your profits. Our guest is an expert on how to do it properly by using funds from your self-directed retirement accounts.

Today we welcome Derreck Long, CISP. Those are some impressive initials after his name. They stand for Certified IRA Services Professional. You’ll get to hear him share his expertise on IRAs and other self-directed retirement accounts such as Roth IRAs, Coverdell Education Accounts, and Health Savings Accounts. Young investors often mistakenly think they can’t tap into their retirement accounts until their mid-fifties. But Derreck and Eddie Speed will explain the types of accounts that can be accessed at any age without penalty.

Another part of his role where he works at Quest Trust is to keep his finger on the pulse of legislative changes that affect the note investment community. As you recall, in last week’s NSTV episode we explained the critical importance of urgent action on Sections 138312 and 138314 of an upcoming congressional bill that could greatly inhibit the freedoms of entrepreneurial note investors. We asked our viewers to contact their congressional representatives and it appears your efforts have made a big impact! The battle is not over, but Derreck and Eddie will be discussing some very important developments on this bill that you’ll be excited to hear.

Also in today’s episode, Eddie gives you a sneak peek at an important award being bestowed at the upcoming NoteExpo to someone with a highly respected role in the note industry—and the recipient happens to have the same last name as Derreck!

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2:20 | Joe Varnadore recaps the news. Mortgage rates finally eclipse 3%. Inflation has gone up but applications have come down a bit. Mortgage payments are getting more unaffordable. In July, the median household needed 32.1% of their income (which is 23% higher than last year) to cover the mortgage payment on a median price home—highest since 2008. This affects the debt-to-income ratio that lenders look at and means many borrowers won’t get approved by traditional lenders.

5:45 | Joe introduces Eddie Speed, who introduces today’s guest, Derreck Long with Quest Trust Company. He explains how people can buy and sell notes with money from self-directed IRAs and not pay income taxes—a benefit you won’t get from stocks.

8:40 | Derreck says NoteExpo will discuss upcoming changes on tax laws that affect you and your heirs.

9:20 | Eddie mentions accessing funds from the Coverdell Education Account or Health Savings Account which can be accessed at any age.

10:20 | Eddie teases a significant announcement regarding the founder of Derreck’s company Quest Trust, Quincy Long (Derreck’s uncle), who will be recognized at NoteExpo.

11:05 | Eddie introduces a message from today’s sponsor: NoteExpo.

12:05 | Eddie recaps the 10-year history of NoteExpo, and his desire to recognize game changers who have impacted the note industry, with a track record of benevolence. This year, Quincy Long will be recognized with the Note Industry Achievement Award, and he gives details of Quincy’s legacy.

17:50 | in legislative news, Derreck mentions the vote on proposed bill changes that drastically affect the note industry has been delayed, which is a good sign. He says it will probably be rewritten in a more favorable manner.

19:25 | Derreck talks about why so many investors are adopting notes because it’s a very passive way to make money. It’s much less hassle than landlording, fix & flips, etc. Derreck mentions that NoteSchool students have a higher degree of success in note investing than those who are untrained.

22:40 | Brian asks Derreck to explain further how money can be used from one’s IRA and make money before retirement age. There is a clear path that can be learned.

24:05 | Joe describes how Quest always have someone to answer the phone for customers instead of an automated line.

25:40 | Brian closes with an invitation to spend more time in the NoteSchool ecosystem, starting with a 1-day class: “Gold in Notes.”

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”The way that Eddie can take something very complicated and break it down into doable steps for people to learn how to follow – make it a simple process to follow – is really what makes it helpful for the novice investor or the brand new investor who really doesn’t know much about the industry or the market. ”

– Victoria Cobalt