249: Reaping the Rewards of a Diversified Portfolio with Lon Welsh

In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Lon Welsh, founder of Ironton Capital and Your Castle Real Estate, to explore what it takes to transition from active to more passive and diversified real estate investing. With a background that spans flipping homes, self-managing rentals, and launching investment funds, Lon shares how his personal experience shaped the way he helps investors today. The conversation starts with Lon’s early steps in real estate, living below his means, and creating a basement ADU, and expands into his evolution as a syndicator and fund manager. He explains how burnout from hands-on property management pushed him to reimagine his investing strategy, leading to the creation of Ironton Capital’s fund-of-funds structure. The result is a platform designed to serve professionals who want the benefits of real estate without the headaches of daily management. Jonathan and Lon talk through how geographic and asset diversification help manage risk, what investors should look for when evaluating sponsors, and how to align financial decisions with broader life goals. Lon also shares why mindset matters just as much as metrics, and how long-term thinking leads to better outcomes. Whether you're an experienced investor or someone looking to move beyond direct ownership, this episode offers a practical take on what passive investing can actually look like when done right. In this episode, you will hear: Building early financial discipline into real estate strategy Flipping and self-management lessons that still hold value today The role of fund-of-funds structures in simplifying passive investing Diversifying across markets and asset types to reduce exposure Key sponsor traits to look for as a limited partner Matching investment choices with lifestyle and freedom goals Follow and Review: We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Ironton Capital’s website - irontoncapital.com Ironton Capital on YouTube - irontoncapital.com/youtube Ironton Capital’s Facebook page - irontoncapital.com/facebook Find Ironton Capital on Instagram - irontoncapital.com/instagram Follow Ironton Capital on LinkedIn - irontoncapital.com/linkedin Get your free copy of “The Complete Guide to Passive Diversified Real Estate Investing” - irontoncapital.com/realestatezen Website - www.streamlined.properties YouTube - www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - www.zillow.com/profile/StreamlinedReal Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties Email - [e-mail] Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.