Ironstone Asset Management

19821 Meyers Rd, Oregon City, OR 97045
Phone: 971-206-1386

Why I Quit My Job As A Landlord

Neil Clasen

Neil Clasen


One thing is forever good; That one thing is Success



know that I have been investing in real estate for the last 17 years. For those of you who don’t, I’ll tell you a little about my investing history. I bought my first rental property in my early twenties and purchased a total of 4 more before I bought my own house. I’ve always loved real estate; the numbers, the properties, finding great deals…. pretty much everything about it. I have been a landlord, flipped houses, attended foreclosure auctions, performed short sales, lent hard money, and been on both sides of lease options.


I got tired of being a landlord (if you’ve been one, you know why). Short sales were my least favorite transactions. The flip space is crowded and very market dependent. Foreclosure auctions are being bid up beyond reason and lending hard money… was a headache. I continued to be a landlord because I already owned properties, and still loved real estate. I stopped my other real estate investing; kept my rentals as a passive cash flow and dealt with the issues that came with being a landlord.

Better to have people believe you an idiot, then to open your mouth and remove all doubt.

The Discover of Non-Performing Notes

Non-performing notes are simply mortgages that are not paying as agreed. The holders of these notes, banks and hedge funds, are willing to sell them at deep discounts. It sounds risky at first, and as a conservative investor I was initially not interested. However, once I got all the information I was very excited. The risk is obvious, the borrower won’t pay. The great part is, if they don’t pay we get to take ownership of the property; because we bought at a deep discount we profit very well on the sale of the house we now own. The even better part is we can profit even more when we are able to work out a payment plan with the borrower.

Let It Flow

I’m now able to purchase the debt on real estate well below market value and make amazing returns while helping homeowners stay in their homes. Additionally, if they won’t or can’t make payments, I still make above average profits while assisting them to exit the property in the most dignified way possible.

My Partners and I Have Taken On The Role of the Bank

Mortgages are written to make banks money and have protections in them to make sure the bank gets paid no matter what. If you don’t pay them they get your house. We get the same protection on these assets, but we purchase them at less than face value.

You can probably tell I’m pretty excited about this. I just got another 7 bids accepted today! I have worked with partners in the past, but they have all been friends and family. For the first time I am working with partners outside of my circle of influence. There is a tremendous amount of inventory right now, and as a result an enormous amount of opportunity.

If you think you are interested in this great opportunity to increase your passive income while helping homeowners and communities, please reach out to us. We are happy to share with our investors and anyone else that wants to get involved with non-performing real estate debt.