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

In Episode 114 of the Canadian Private Lenders Podcast, Ryan and Neal wrap up 2025 by reviewing their bold economic and housing predictions, and grading themselves on what they got right (and wrong).

They break down RE/MAX’s controversial condo recovery forecast, analyze rate cuts from the Bank of Canada, unpack national and Atlantic Canada housing trends, and debate what 2026 could look like for home prices, housing starts, immigration, and the Canadian dollar.

This episode is a grounded, no-nonsense discussion on where Canada’s real estate and lending markets are heading, and what lenders, investors, and brokers should be paying attention to next.

Show Notes:

00:00 – RE/MAX Says These Cities Will Lead the Condo Recovery

01:30 – Why Toronto & Vancouver Didn’t Make the List

03:03 – Do Condo Markets Even Exist in Atlantic Canada?

04:13 – Why Condo Price Data Can Be Misleading

05:19 – Reviewing Our 2025 Rate Cut Predictions

06:55 – Who Nailed the First Bank of Canada Rate Cut

07:17 – 100 Basis Points of Cuts: How Accurate Were We?

07:37 – Canadian Home Prices in 2025: What Actually Happened

08:31 – Nova Scotia Home Prices vs Transaction Volume

10:14 – Atlantic Canada Housing Trends Explained

10:32 – Housing Starts in Canada: The Real Numbers

12:07 – Why Housing Data Is Hard to Trust in Atlantic Canada

14:47 – 2026 Begins: Rate Cuts, Hikes, or Flat?

16:11 – How Much Room Does the Bank of Canada Have Left?

19:14 – Will Canadian Home Prices Rise or Fall in 2026?

21:16 – Ontario vs Atlantic Canada Market Psychology

22:57 – Immigration, Construction Slowdowns & Demand

25:52 – Nova Scotia Housing Market Predictions for 2026

28:18 – Atlantic Canada Outlook by Province

29:24 – Housing Starts in 2026: Boom or Collapse?

33:56 – CAD vs USD: Where Is the Dollar Headed?

36:21 – Travel, Politics & Economic Sentiment

39:53 – Final Thoughts & 2026 Outlook

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 this special episode of the Canadian Private Lenders Podcast, the Keystone team flips the script.

Ryan, Neal, Sam and Zach sit down for an in-depth conversation on how Keystone Mortgage Investment Corp was built, from working out of a living room and funding the first deal with personal lines of credit, to launching a fully structured MIC with registered investments.

The team breaks down their individual roles, how brokers can submit stronger deals, what investors want to know before committing capital, and why transparency and process matter in private lending. The episode wraps with a lighter, personal segment on hobbies, travel, and life outside the office, making this a true behind-the-scenes look at Keystone.

Show Notes:

00:00 – Episode intro & holiday energy
00:38 – Welcome to Episode 113
01:39 – Meet the Keystone team
02:46 – Ryan’s role as President & broker relations
04:11 – Neal on investor relations & capital raising
05:23 – Zach on underwriting, risk & operations
07:48 – What Keystone lends on (and who it’s for)
09:42 – How Keystone started in 2023
11:56 – Funding the first deal with personal capital
12:44 – Why Keystone transitioned into a MIC
15:28 – Early risks, career leaps & growth challenges
18:56 – What brokers should know before submitting deals
21:04 – How to submit cleaner, fundable private deals
23:57 – How investors can learn about Keystone MIC
26:25 – Investor expectations & capital timelines
30:53 – Hobbies, travel & life outside lending
36:04 – Holiday message & closing thoughts

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 this solo episode of the Canadian Private Lenders Podcast, Ryan MacNeil breaks down the core types of private lending deals and explains when, and why, they make sense for brokers, investors, and borrowers.

Ryan starts with major industry news, including EQ Bank’s acquisition of PC Financial, before diving deep into Keystone’s most common loan structures. From single-family construction and renovation loans to quick-close purchases, refinances, and bridge loans, this episode explains how private lending solves real-world problems around speed, flexibility, and deal execution.

Whether you’re navigating tight closing timelines, complex renovations, or relocation scenarios, this episode provides a practical framework for understanding how private capital fits into the broader mortgage ecosystem.

Show Notes:

00:00 – Major mortgage industry news: EQ Bank acquires PC Financial

00:55 – Episode 112 intro

05:28 – Single-family construction loans explained

06:13 – Why private lenders outperform banks in construction financing

07:33 – Draw schedules, speed, and avoiding project delays

11:28 – Renovation loans & fix-and-flip financing

12:10 – Why banks struggle with renovation lending

13:42 – Staged funding, flexibility, and exit strategies

15:25 – Standard private purchase loans

16:21 – Quick-close scenarios when banks miss deadlines

17:55 – Using private lending as a short-term solution

20:28 – Refinance & equity take-out loans

22:38 – Leveraging property equity for investments or renovations

26:15 – Bridge (relocation) loans explained

28:54 – How blended LTVs can unlock higher leverage

31:43 – Real-world bridge loan example

33:16 – Final recap & key takeaways

34:28 – How to connect with Keystone & closing remarks

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 111 of the Canadian Private Lenders Podcast, Ryan and Neal bring the focus home to Halifax and Nova Scotia, breaking down how Canada’s newly announced $82 billion in defense and aerospace spending over the next five years could transform the local economy, job market, industrial landscape, and housing demand.

From Irving Shipbuilding’s growing footprint to the surge in military procurement, the hosts explore who the major winners may be, what risks still exist, and how private lenders and investors can prepare for shifting real estate and lending opportunities. They also discuss commute times, bike lanes, regional development, industrial growth, and insights from the Atlantic Real Estate Forum.

This is a must-listen for brokers, lenders, investors, and anyone watching the future of Atlantic Canada’s economy.

Show Notes:

00:00 – Halifax commute times & caffeine banter

01:21 – Episode overview: Halifax outlook & defense spending

02:03 – Canadian city congestion rankings

03:32 – Bike lanes, EV micromobility & transport shifts

05:20 – Overview of Canada’s $82B defense budget

07:21 – Irving Shipbuilding expansion & aerospace ecosystem

09:55 – Economic impacts: jobs, wages & supply chain

12:13 – Defense spending stability & long-term growth

15:04 – Housing impacts: income, purchasing power, density

17:27 – Global conflict considerations

18:12 – Industrial real estate demand

20:04 – Will defense spending fill Halifax’s new rental supply?

21:28 – Procurement timing risks & delays

22:30 – Private lending opportunities

23:25 – SME procurement opportunities

24:44 – Atlantic Real Estate Forum insights

26:20 – CMHC policy shifts & developer sentiment

28:00 – Cap rates, rent pressures & vacancies

29:35 – Strategic caution for lenders & investors

31:10 – Closing remarks & disclosures

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 110 of the Canadian Private Lenders Podcast, Ryan and Neal break in their brand-new studio with a deep dive into one of the hottest topics circulating in the real estate and lending world: the rise of 50-year mortgages in the United States.

The hosts unpack what a 50-year mortgage actually looks like, who benefits, why the U.S. is considering them, and whether Canada would ever dare to follow. Along the way, they explore current housing forecasts, affordability breakdowns across Canada, private-lending implications, and the macroeconomic mechanics behind debt-driven asset growth.

If you’re a mortgage broker, lender, real estate professional, or investor, this episode offers a grounded, honest analysis of the policies shaping the future of housing.

00:00 – What is a 50-year mortgage?

00:26 – New studio intro

01:08 – Back to in-person episodes

01:43 – Remax 2026 housing rebound headline

04:38 – Introducing today’s topic: 50-year mortgages

05:12 – U.S. vs Canada mortgage structures

07:40 – Mechanics of 50-year amortization

08:20 – Interest costs & debt misconceptions

09:39 – Asset value growth from extended amortizations

10:26 – Why the U.S. is considering this now

11:36 – Securitization & “Big Short” parallels

12:24 – Risks & criticisms

15:52 – Halifax wealth effect example

17:30 – Why Canada won’t adopt 50-year mortgages

18:28 – Securitization challenges in Canada

19:01 – Consumer debt culture

20:02 – Fragmented Canadian housing markets

21:00 – Discussion on 40-year amortizations

24:42 – Opportunity during corrections

25:20 – Borrower affordability vs long-term wealth

26:00 – Investors using long AMs indirectly

27:00 – Income growth, zoning & structural differences

29:04 – Private lending impacts if U.S. adopts 50-year mortgages

30:16 – Canadian ALT market outlook

31:32 – Lending risk during corrections

32:40 – Final takeaway: Canada unlikely to adopt 50-year AMs

33:40 – Wrap-up & studio shoutout

34:37 – Sign-off & disclaimers

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