Ep. 70 | Breaking Through in Ontario’s MIC space with Derek Serra (Westboro MIC)

this episode Ryan and Neal are joined by Derek Serra, the president of Westboro Mortgage Investment Corporation. With over two decades of experience in the mortgage industry, Derek offers invaluable insights into how private lending has evolved and how Westbro has become a leader in the space, funding over a billion dollars since its expansion.Derek shares the key moments that led him to leave RBC and become a driving force behind Westbro’s success, including how the company’s strong foundation and customer-focused approach have shaped its rapid growth. Whether you're a mortgage broker, investor, or professional in the lending industry, this episode is packed with practical advice to help you navigate the world of private lending, make better business decisions, and create lasting partnerships with your clients.Don’t miss out on Derek’s expert advice about building a strong brand, the importance of transparency in private lending, and the factors behind Westbro’s billion-dollar success. Tune in for tips on scaling your business and mastering the art of private lending in Ontario.Show notes:1:00 - Derek Serra introduces his career starting at RBC and his path.6:10 - Transition from RBC to XMC, and lessons from Ottawa.9:00 - The challenges of scaling a mortgage investment corporation (MIC).15:30 - Why Westbro focuses on well-capitalized operations and transparent dealings.20:40 - Exploring Westboro's unique approach to rural and urban lending markets.24:30 - Derek's thoughts on private lending for residential, construction, and second mortgages.28:00 - Key factors for private lenders in choosing projects and brokers.33:40 - Derek shares strategies for brokers to build lasting relationships with private lenders.37:00 - Advice for brokers on selecting lenders as an extension of their brand.41:00 - Westbro's expansion and success in Ontario’s private lending market.45:30 - Derek discusses future trends in the private lending industry and evolving market conditions.Resources: Keystone Capital Group CPLP Instagram: @cplpodcast Keystone Instagram: @keycapgroupFind Derek On:Instagram - @derek_serraLinkedInFind Neal On:Instagram - @neal.andreinoLinkedInFind Ryan On:LinkedInE-mail - [email protected]