Podcast Episode Summary

Travis Makes Money: "Make Money with Turnkey Real Estate and Passive Income"

Guest: Ryan D. Lee, Founder of Wealth Outside Wall Street

Date: February 15, 2026

Episode Overview

In this episode, host Travis Chappell sits down with Ryan D. Lee to explore how everyday people can break free from traditional Wall Street investment paths and instead generate wealth and freedom through turnkey real estate and passive income. Ryan shares his personal journey, practical strategies, and mindset shifts that allowed him to leave his corporate career and help thousands of others do the same.

Key Discussion Points and Insights

1. The Real Meaning of Financial Freedom

• Both Travis and Ryan agree that money is ultimately about creating options and control over your time and life (01:25).
• Travis: “It allows you freedom to work on things that matter to you, not freedom to sip daiquiris on the beach... it's more just about how do I just make it to where I work when I want to work” (01:38).
• Ryan: “Money is really a tool for people to have more options in their life. That's really what we're here to discuss.” (01:25)

2. Ryan’s Background and Wall Street Disillusionment

• Before the 2008 crash, Ryan followed the traditional path: college, corporate job in medical sales, maxing out 401ks and IRAs (02:35).
• The 2008 crash slashed his net worth, making him question if the conventional model truly delivers on its promises:
  “I found myself making trade offs... I kept telling myself, when I have enough money, I'll buy my life back. ... I realized I'm doing the same thing these guys are doing. But I was somehow expecting a different outcome. And that opened me up to alternative investing.” (03:17–04:55).

Memorable Moment:

• Ryan’s realization while observing colleagues:
  “Looking at people 20, 30 years ahead of me... they're not happy. They're waiting for one day. ... If I don't have control over my money, how can I ever predict my outcome or even impact my outcome?” (04:20–04:55)

3. Discovering Alternative Investments

• The gateway to new thinking for Ryan was reading Rich Dad, Poor Dad by Robert Kiyosaki, confirming his suspicions about the conventional financial system (07:48).
• “Kiyosaki gave me a new perspective. ... The rich measure their success not with their net worth, but cash flow. Debt is actually money.” (08:32)
• He then read Creating Wealth by Robert Allen, which proposed a simple, scalable system: buy two single-family homes a year for 10 years (08:58).

4. The Painful Learning Curve of "Passive" Real Estate

• While still working full-time, Ryan started buying, rehabbing, and managing properties.
• Ryan: “By my third home, I had a full blown panic attack... I realized I had a part time job and I wasn’t very good at it.” (10:05–11:04)
• Travis quips: “So much for passive income.” (11:04)

Turning Point:

• Reads Think and Grow Rich by Napoleon Hill; adopts the Henry Ford mentality of building a team, using others’ expertise so he could focus on owning assets, not doing the labor (11:05–12:20).
• This realization leads him to “turnkey” investing—finding opportunities where others do the rehab and management. This enabled him to scale to 17+ properties and eventually quit his six-figure corporate job (12:20–12:58).

5. Turnkey Investing Explained

• Ryan: “What a turnkey property is, is you buy a property that you can literally put a key in it, turn it and it turns on right, it starts generating income.” (15:22)
• His strategy: favor single-family homes for reliability and demand, keep things boring and steady (15:22–17:08).
• “I want my wealth and my money to be boring. ... I buy single family homes. They’re the most in demand, most sought after types of property...” (15:38)

6. Is It "Too Late" to Get Started?

• Travis asks about today’s tougher market—high prices and rates (17:08).
• Ryan: “Start right now. ... We did a thousand properties last year inside of our community at the highest interest rates... Single family homes are always in demand. ... The perfect conditions will never happen.” (17:41)
• He cautions against waiting for a perfect time, emphasizing that letting time work for you is key (18:00).

Travis’s Perspective:

• Shares an example of generational wealth through property appreciation and reminds listeners:
  “Time has passed, but the time to buy has not passed.” (18:59–21:05)

7. The Role of Micro-Markets and Due Diligence

• Ryan emphasizes that there’s no single “real estate market”—look for micro-markets that are booming (21:05).
• Use practical tools: “One of the best ways to do your due diligence on real estate. Go to uhaul.com, find out where people are moving.” (21:30)

8. Taxes, Inflation, and Building Wealth

• Ryan: “Inflation and taxes will either make you wealthy or they will destroy you... When you buy single family homes, inflation and taxes are making me wealthy.” (21:50)
• Switch your savings from tax-deferred vehicles to assets generating tax-free income.

9. How to Define a Good Real Estate Deal

• Focus on cash-on-cash return for single-family homes (23:26).
• “When I buy, we have a whole software for this. When I, when I buy the house, I put in all of my known expenses... and I shift that up to 40%... Once I understand that... if I can get a 7 to 10% cash on cash return with very realistic expectations, then I know it's worth it.” (23:26–24:59)
• Leverage is essential—use the financial system as an investor, not a consumer (24:59).

Notable Quotes & Memorable Moments

• Ryan on Systemic Disillusionment:
  “If I don't have control over my money, how can I ever predict my outcome or even impact my outcome?” (04:55)
• Travis on Waiting for the Perfect Market:
  “Time has passed, but the time to buy has not passed.” (18:59)
• Ryan on Wealth-building Mindset:
  “The one thing that doesn't have a box is you. It's your ability to make money, to create value, to solve problems.” (13:43)
• Travis on Real Estate's Generational Impact:
  “You see people who are amazed... their parents bought a house in San Diego County in 1989 ... now they're selling it for $1.8 million... It’s like, the time to buy has not passed.” (19:20)
• Ryan on Taxes, Inflation, and Wealth:
  “Inflation and taxes will either make you wealthy or they will destroy you.” (21:50)
• Ryan on Freedom and Optionality:
  “You owning your time gives you optionality in life. And that's really what financial freedom is all about.” (14:56)

Timestamps for Key Segments

• 01:25 — What money and freedom really mean (Defining financial freedom)
• 02:35 — Ryan’s corporate background and early disillusionment
• 04:55 — Market crash epiphany and deciding to pursue alternatives
• 07:48 — Influence of Rich Dad, Poor Dad and Creating Wealth
• 10:05 — Failures and panic managing first properties
• 11:05 — The Henry Ford principle: building a team, not doing it yourself
• 12:20 — Transition to turnkey properties, scaling up to leave corporate job
• 15:22 — What is a turnkey rental? Why “boring” is good for wealth
• 17:41 — Advice for new investors: now is always the time to start
• 18:59 — Real estate appreciation, inflation, generational wealth
• 21:05 — How to find strong micro-markets for investment
• 21:50 — The critical tailwind: inflation and taxes
• 23:26 — Metrics for evaluating a good real estate deal today

Practical Takeaways & Action Steps

• Start Now: Market conditions are never perfect. Leverage time and compounding.
• Boring is Profitable: Seek steady, boring assets; single-family homes are consistently in demand.
• Build a Team: Use others' expertise (realtors, handymen, property managers) to make real estate truly passive.
• Focus on Cash Flow, Not Speculation: Use cash-on-cash returns and realistic expense management to evaluate every deal.
• Let Inflation and Taxes Work for You: Direct assets and leverage to turn these from headwinds into tailwinds.
• Increase Your Financial Intelligence: Don't be a passive investor; raise your understanding to play the game to win.

Where to Learn More

• Ryan Lee’s book, Retire in 10 Years or Less: Unlock Your Passive Income Machine and Secure Tax Free Income for Life (available at retirein10years.com/book or Amazon).
• Bonus interviews with Robert Allen and Robert Kiyosaki included with the book for deeper learning.

For listeners craving actionable, real-world strategies for building wealth outside of Wall Street, Ryan’s story and step-by-step breakdown provide both inspiration and a clear blueprint for getting started, no matter the market.