Canadian Private Lenders’ Podcast
The #1 Podcast on Private Mortgage Lending in Canada. Ryan MacNeil and Neal Andreino of Keystone Capital Group outline their private mortgage lending experience and help you grow your mortgage business, while focusing on the importance of the growing Canadian Mortgage Broker channel.
Canadian Private Lenders’ Podcast
Ep.135 | The Riskiest Loan in Private Lending
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Construction loans can be incredibly rewarding, but when they go sideways, they can turn your lending business into a project management nightmare. In this episode, Neal and Ryan break down why incomplete construction loans are the riskiest deals in private lending, sharing a real story from their own portfolio where two simultaneous builds went off the rails. They cover the critical decision every lender faces in default: sell as-is or complete the build, the red flags to watch for, and the internal tools and processes that have saved them from bigger losses.
Show Notes
0:07 - Cold open & intro
5:15 - Amazon building a 1M sq ft warehouse in Halifax
8:50 - What's the riskiest loan in private lending?
10:02 - Real story: Keystone's two construction loans that went wrong
13:37 - How secondary security saved them
16:30 - Sell as-is vs. complete the build
17:56 - Decision framework by completion percentage
24:13 - Red flag: when your borrower goes silent
26:02 - Ryan's biggest blow-up: fire + lapsed insurance on a 12-unit build
28:33 - Active management & draw tracking
37:10 - Key takeaways & best risk mitigation tools
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