Ep.146 | From Working at a Brewery to Running a $470 Million MIC - Greg Sinclair

Greg Sinclair did not take a straight line into private lending. He went from teaching school in Ontario and the UK, to selling beer on the night shift at a local brewery, to building out the sales and marketing function for the Peterborough Petes in the OHL, to joining Magenta Capital when Covid shut down the sports world. He is now COO of one of the longest-standing MICs in Canada, a company founded out of a basement in 1994 that now manages $470 million in residential mortgages across Ontario.Ryan and Neal sit down with Greg to talk through what has kept Magenta disciplined for 32 years, why they built a $470 million book with zero commercial, zero construction, and never leaving Ontario, and what drove the decision to finally enter the GTA a year and a half ago. They also get into Greg's read on where the Canadian real estate market sits right now, why condos are likely still a couple of years from recovery, what AI actually looks like inside a private lender's operations, and why tightening bank regulation keeps sending better and better borrowers into the alt space.Plus career advice for anyone trying to break into the mortgage world, and some honest Leafs talk to close it out.Show Chapters:2:07 Meet Greg Sinclair, COO at Magenta Capital 2:47 From Teacher to Brewery to OHL Analytics 7:21 Landing the Peterborough Petes Job 10:25 How Covid Led Greg to Magenta Capital 11:09 32 Years and $470M: How Magenta Got Here 13:36 The Decision to Enter the GTA 16:57 $470M AUM on 1,000 Residential Loans 17:19 Magenta's Products and Lending Parameters 22:38 Looking Three Years Ahead: What Magenta Is Building 24:29 Market Outlook: Near the Bottom or In It? 26:20 Atlantic vs Ontario: Two Very Different Stories 30:39 AI as an Accelerant, Not a Replacement 33:40 Why Alt Lenders Keep Taking Market Share 36:16 The Biggest Risk for MICs Right Now 38:44 Career Advice for Mortgage ProfessionalsResources:Keystone Capital GroupCPLP Instagram: @cplpodcastKeystone Instagram: @keycapgroupFind Neal On:Instagram: @neal.andreinoLinkedIn: Neal AndreinoFind Ryan on:LinkedIn: Ryan MacNeilE-mail: [email protected] IN THE CPL NEWSLETTER:http://eepurl.com/FIKgpXhSbH