The 4 pillars of building long-term wealth with Ryan Lee

For the last seven years, Ryan Lee has helped people build wealth by debunking bogus financial plans based on hope. Instead of hoping the stock market performed, that taxes would stay low, and hoping that his investments would perform as advertised, he developed something infinitely more valuable than hope: Control. Ryan has unlocked a personal path to achieving financial independence as well as a system of money management that he is passionate about sharing. In this episode, Ryan shares his investment strategy and the 4 pillars that you can use to evaluate a potential investment an determine if it is going to bring you the most reliable returns. Ryan's links: https://cashflowtactics.com/ https://podcasts.apple.com/us/podcast/rise-up-live-free/id1500021021  --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everybody? Michael Albaum here. Welcome to another episode of the remote real estate investor. Today with me, I've got Ryan Lee with Cash Flow tactics. And Ryan's gonna be talking to us about his background, how he became financially free, and what are some tips and tricks that you can maybe do the same? So let's get right into it.   Alright, Ryan, so you were saying before that you figured it out? Because you had to? And so I'm curious to know, what was it that you figured out? What were some of the tips and tricks and tactics that you figured out along the way?   Ryan: Yeah, man. So again, kind of going back to Rich Dad, Poor Dad, you know, first he like slapped me in the face and said, Hey, you, everything you think you know about money is wrong,   Michael: You're doing it wrong.   Ryan: Yeah, you're doing it wrong. And you're an idiot, right? And then the next thing that he said was, hey, the definition of financial success. And this radically revolutionized my thought process. It's not how much your net worth is, like, at the end of the day? No, it doesn't matter how much money we have, no matter how much income your assets generate. And so I started measuring my success off of how much income can my assets generate? And how long is it going to last? And how predictable is it going to be?   And this really exposed the lie of the 401k. Because even if I had quote unquote, enough money in the 401k, I couldn't get it right, it was stuck, it was gonna be taxable. And I couldn't take it out before 59 and a half. And so I realized, man, that's that's a trap. So I went down the world of real estate, and real estate is the most powerful wealth creator out there. But it's also a pretty dangerous tool, right? And I went into it super naive. I'm grateful that I did it because I made a lot of mistakes. But you know, I went into the game of real estate trying to do it all on my own. Right, I thought may I'm gonna go out and find the property. And then once I find it, I'm gonna rehab it, and I'm gonna renovate it, and I'm gonna put a renter in there, then I'm gonna collect the rent. And I did that three times, right?   And the first time I did it, walked around with my chest all puffed out, right? I'm a real estate investor, you know, and I wanted to tell everybody about it. The second time I did it, I was little bit nervous. And the third time I did it, I almost had a panic attack. Because here's what was happening, right? I mean, every property that I bought, I was actually getting further away from financial freedom. Because I had to find it, I had to renovate it, I had to put a tenant in it, I had to manage it. And man, man, if there's anything that you know about