In Episode 117 of the Canadian Private Lenders' Podcast, hosts Ryan and Neal break down the five most common and costly mistakes private lenders make when scaling their businesses.

Drawing directly on their experience growing Keystone past $25 M in AUM, they unpack real-world lessons on infrastructure, software, deal quality, hiring, and recognizing early market cracks before they turn into serious problems.

This episode is a must-listen for:

• New and emerging private lenders
• Mortgage brokers working with private capital
• Investors evaluating lending platforms
• Anyone preparing for a shifting real estate market

Show Notes:

• 06:19 – Episode focus introduced: the 5 biggest scaling mistakes private lenders make
• 07:07 – Mistake #1: Scaling too fast without proper infrastructure
• 09:41 – Importance of deal flow quality and broker relationships
• 11:32 – Why Excel breaks down as loan books grow
• 14:47 – Mistake #2: Not using proper loan-management software
• 19:34 – How platforms like Mortgage Automator reduce operational risk
• 21:58 – Mistake #3: Chasing volume instead of improving deal quality
• 28:11 – Why better loans beat more loans in the long run
• 31:04 – Mistake #4: Waiting too long to hire and leverage a team
• 33:30 – Mistake #5: Ignoring early market cracks because defaults are still low
• 37:52 – Key takeaway: Risk shows up quietly — until it doesn’t
• 38:58 – Rapid-fire advice for lenders under $5M, $15M+, and investors
• 41:18 – Where to follow and watch the podcast (YouTube, Instagram, LinkedIn)

Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup

Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino

Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca

In Episode 116 of the Canadian Private Lender's Podcast Ryan and Neal break down what it really takes to scale a private lending business from $10M to $25M in assets under management in just over two years.

They go beyond surface-level growth talk and dive into the realities of scaling: operational strain, investor confidence, underwriting discipline, capital flow challenges, and why saying no becomes more important than saying yes. From team expansion and MIC structuring to managing risk in a shifting market, this episode is packed with practical insight for anyone serious about building a sustainable private lending operation.

Plus, some strong opinions on chocolate bars, Dairy Queen blizzards, and secret menus along the way.

Show Notes:

00:00 - Chocolate bars & holiday chaos

06:46 - Dairy Queen blizzards & secret menu

09:13 - Scaling from $10M to $25M AUM

12:46 - Team growth & admin pressure

16:00 - Raising capital & launching a MIC

19:59 - Product mix & construction lending

22:53 - Underwriting discipline at scale

26:02 - Risk awareness & saying no

29:59 - Admin, outsourcing & buying back time

33:36 - Podcast as credibility & deal flow

36:19 - Advice by AUM stage

41:16 - Final takeaways & sustainable growth

Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup

Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino

Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca

Welcome back to Episode 115 of the Canadian Private Lenders Podcast!

Ryan and Neal kick off 2026 by breaking down what fix-and-flip investing really looks like in today’s more balanced Canadian real estate market. With buyer behavior shifting, inventory rising, and exits becoming less predictable, this episode dives into where opportunities still exist, and where lenders and investors need to be far more conservative.

The conversation covers real-world market conditions in Halifax, the GTA, and Calgary, how underwriting standards should evolve in 2026, and why making money on the buy, not the market, matters more than ever.

Whether you’re a private lender, broker, or active real estate investor, this episode is a practical reset on risk, expectations, and disciplined deal analysis for the year ahead.

Show Notes:

00:00 – Welcome to Episode 115 & kicking off 2026

02:18 – Are fix & flips “back” in 2026? Setting the stage

03:54 – Halifax market update: inventory, pricing & buyer behavior

05:09 – Sold-to-list ratios signal a shift to a balanced market

07:11 – Where fix-and-flip opportunities are re-emerging on the buy side

09:27 – Off-market deals: what’s happening and where they still exist

11:38 – The biggest risk in 2026: uncertain exits & longer hold times

14:21 – Why cosmetic flips no longer work without real value-add

16:43 – Lender perspective: cutting losses before deals go sideways

17:03 – GTA market overview: nuance, sub-markets & investor vs end-user demand

18:34 – Why investment-grade properties are getting hit harder than single-family homes

23:45 – Calgary market insights: pricing, build costs & borrower strength

29:41 – Private lending structures: LTVs, draws, reserves & holdbacks

33:55 – Underwriting checklist: ARVs, contingencies & exit strategies

36:10 – Real Halifax case study: tight margins and stress-testing returns

38:19 – Final takeaways: disciplined underwriting wins in 2026

Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup

Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino

Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca