Why Canada Makes Housing So Hard To Build ft. Chris Spoke Ep. 29

What a Private Lender Learned From Funding Hundreds of Deals ft. Matt Gonsalves Ep. 30

What can a private lender who's funded hundreds of real estate deals tell us about the future of housing in Canada?  In this episode of the BLD Financial Podcast, we're joined by Matt Gonsalves, Vice President & Broker at Foremost Financial, one of Ontario's leading private construction lenders. Drawing from more than a decade of experience financing construction, land development, bridge loans, and Missing Middle housing projects, Matt shares what he's seeing in today's market and where he believes the biggest opportunities exist moving forward. From the collapse in new housing starts and the rise of small-scale multifamily development to the costly mistakes new developers make, this conversation provides a practical, lender's-eye view of where opportunities exist and what investors need to understand moving forward. We break down: ✅ Why small multifamily projects are becoming the sweet spot in Canadian real estate ✅ Why large development projects are struggling while smaller projects continue to work ✅ The future of Missing Middle housing and urban infill development ✅ Why many new developers underestimate capital requirements ✅ The biggest mistakes Matt sees investors and developers make ✅ How CMHC financing has changed the development landscape ✅ Why some projects get funded while others don't ✅ The impact of development charges, approvals, and rising construction costs ✅ Why Matt believes today's housing slowdown could create tomorrow's opportunities Whether you're a real estate investor, developer, mortgage professional, or someone interested in where housing is headed in Canada, this episode provides valuable insights from one of the industry's most active construction lenders. If you enjoyed this episode, make sure to subscribe to the BLD Financial Podcast and share it with someone who would find it valuable. About Matt Gonsalves: Matt Gonsalves is Vice President, Broker, and loan originator at Foremost Financial, specializing in construction and land development financing across Ontario. Since joining Foremost in 2013, Matt has become one of the industry's leading loan originators in the small-scale development and Missing Middle housing space. He has structured financing for land acquisitions, custom home construction, multiplex developments, walk-up apartments, bridge financing, condominium inventory financing, and commercial construction projects throughout Ontario. Matt is particularly known for his expertise in financing multiplex construction and small infill housing developments in Toronto and the Greater Toronto Area. Matt holds an Honours Bachelor of Business Administration from Wilfrid Laurier University. Follow & Connect with Matt Gonsalves: LinkedIn - https://www.linkedin.com/in/matthewgonsalves/ Instagram - https://www.instagram.com/mattgonsalvesto/ Learn more about Foremost Financial:  Website - https://foremost-financial.com/ Follow & Connect with Josh & Ehren: Instagram - https://www.instagram.com/bldfinancial Facebook - https://www.facebook.com/BLDfinancial YouTube -  https://www.youtube.com/@bldfinancial DLC National License: 12360

Why Canada Makes Housing So Hard To Build ft. Chris Spoke Ep. 29

“The harder it is to build housing, the less housing gets built… and then we have an affordability crisis.” Canada says it wants more housing… So why does the system make it so difficult to actually build it? In this episode of the BLD Financial Podcast, we sit down with developer, housing advocate, and Toronto Standard partner Chris Spoke to break down the real reasons Canada’s housing affordability crisis continues to get worse despite years of policy changes and government intervention. From zoning restrictions and building code requirements to CMHC financing policies and development economics, this conversation explores how many of the systems designed to improve affordability may actually be making housing harder and more expensive to build. Chris also shares his journey from software and housing policy advocacy into real estate development, and explains why he believes missing middle housing could play a major role in solving Canada’s supply crisis if governments stop getting in the way. This conversation goes deep into what’s actually preventing housing from being built in Canada today, why developers are struggling to make projects viable, and what needs to change if the country wants to improve affordability for future generations. We break down: ✅ Why Canada makes housing so difficult to build ✅ The real problems with CMHC financing programs ✅ Why overregulation is making affordability worse ✅ The challenges facing missing middle development in Toronto ✅ Why many small multifamily projects no longer work financially ✅ The hidden costs inside building code and zoning requirements ✅ Why developers are avoiding certain projects entirely ✅ The growing affordability crisis facing young Canadians ✅ How policy, financing, and construction costs are colliding ✅ What actually needs to change to increase housing supply As Canada continues to face rising housing costs, affordability challenges, and slowing development activity, this episode provides a real, unfiltered look at the policies, incentives, and structural issues shaping the future of housing. Whether you’re a real estate investor, developer, mortgage professional, policy enthusiast, or simply trying to understand why housing has become so expensive in Canada, this episode offers an insider perspective on the realities of building in today’s market. If you enjoyed this episode, make sure to follow or subscribe to the BLD Financial Podcast and share it with someone who would find it valuable. About Chris Spoke Chris Spoke is a Toronto-based real estate developer, housing advocate, and partner at Toronto Standard, a development firm focused on midrise rental housing and missing middle development in Toronto. Before entering real estate development, Chris spent years studying housing policy and advocating for zoning reform and increased housing supply in Canadian cities. He is widely known for his work and commentary around housing affordability, urban planning, development policy, and missing middle housing. Chris is also a founder of the Missing Middle Summit, an annual conference focused on housing policy, urban development, and the future of housing in Canada. Through Toronto Standard and his public commentary, Chris has become one of the leading voices in Canada discussing the intersection of housing policy, development economics, financing, and affordability. Follow & Connect with Chris Spoke: Website - https://chrisspoke.com/ LinkedIn - https://www.linkedin.com/in/chris-spoke/ X - https://x.com/chrisspoke Instagram - https://www.instagram.com/chrisspoke/ Toronto Standard - https://www.torontostandard.co/ Missing Middle Summit - https://missingmiddlesummit.com/ Follow & Connect with Josh & Ehren: Instagram - https://www.instagram.com/bldfinancial Facebook - https://www.facebook.com/BLDfinancial YouTube -  https://www.youtube.com/@bldfinancial DLC National License: 12360

Is the BRRRR Strategy Dead in Canada… Or Is There Still Opportunity? ft. Jack Bernstein Ep. 28

"Does the BRRRR strategy still work in Canada… or is it over?” In this episode of the BLD Financial Podcast, we’re joined by Jack Bernstein of Bernstone Capital to break down what’s actually happening in today’s Canadian real estate market and why many of the strategies that worked over the last cycle are no longer producing the same results and how investors are being forced to adapt in today’s market. From rising interest rates and shifting cap rates to softening rents and tighter lending conditions, the environment that made BRRRR so effective has fundamentally changed. This conversation goes deep into what investors are getting wrong right now, where deals are breaking down, and how experienced operators are adapting their strategies to survive and scale in this new market cycle. We also explore the growing shift from small residential portfolios into mid-size multifamily (5–25 units), and why access to deals, proper underwriting, and long-term thinking matter more than ever. We break down: ✅ Does the BRRRR strategy still work in Canada today ✅ Why high-leverage deals (90–95% LTV) are becoming increasingly risky ✅ The truth about cash flow and why it’s often an illusion early on ✅ Why many investors are struggling with refinancing and negative equity ✅ How cap rates, rent shifts, and market cycles are impacting deal viability ✅ The shift from “velocity investing” to long-term buy-and-hold strategies ✅ Why most multifamily deals aren’t as simple as they look on paper ✅ How serious investors are adapting their approach in 2026 and beyond As the Canadian housing market continues to reset, this episode provides a real, unfiltered look at what’s working, what’s not, and what investors need to understand before making their next move. Whether you’re a real estate investor, developer, mortgage professional, or simply trying to understand where the market is heading, this episode offers a grounded, insider perspective on navigating today’s investment landscape. If you enjoyed this episode, make sure to follow or subscribe to the BLD Financial Podcast and share it with someone who would find it valuable. About Jack Bernstein: Jack Bernstein is the founder of Bernstone Capital, a real estate firm focused on mid market multifamily transactions across Ontario. Specializing in the 5 to 50 unit space, Jack works directly with investors to source, structure, and execute deals that sit between traditional residential investing and institutional grade assets. His approach is centered on guiding clients through the full transaction process, from acquisition strategy and underwriting to stabilization and long term portfolio growth, with a focus on navigating complex deals in today’s shifting market. With a strong understanding of capital markets, deal structuring, and evolving investor behavior, Jack helps bridge the gap between opportunity and execution for investors looking to scale beyond small residential portfolios. In a market where many traditional strategies are breaking down, his focus is on helping investors adapt to changing fundamentals and make more informed, long term decisions. Follow & Connect with Jack Bernstein: Instagram - https://www.instagram.com/bernstonecapital/ Facebook - https://www.facebook.com/jackdanielb YouTube - https://www.youtube.com/@BernstoneCapital Website - https://www.bernstonecapital.com/ Follow & Connect with Josh & Ehren: Instagram - https://www.instagram.com/bldfinancial Facebook - https://www.facebook.com/BLDfinancial YouTube -  https://www.youtube.com/@bldfinancial DLC National License: 12360

President of Canada’s Largest Mortgage Network Reveals What's Coming with AI ft. Eddy Cocciollo Ep. 27

“We believe the next 5 years will be the best 5 years the mortgage industry has ever seen.” In this episode of the BLD Financial Podcast, we’re joined by Eddy Cocciollo, President of DLCG Mortgage Group, one of Canada’s largest mortgage brokerage groups, supporting over 9,000 agents Canada wide. This episode breaks down where the Canadian mortgage and real estate market is actually headed, from someone who has worked inside banks, CMHC, and now leads one of the most influential mortgage organizations in the country. With decades of experience across Canada Trust, CIBC, CMHC, and executive leadership roles, Eddy shares a rare, full-spectrum perspective on lending, risk, and how the system has evolved through major economic cycles, including the 2008 financial crisis. While uncertainty around rates, affordability, and AI continues to grow, Eddy explains why he believes the next 5 years could be the strongest the mortgage industry has ever seen, and what that means for brokers, investors, and everyday Canadians. We break down: ✅ Why Canada’s mortgage system is more resilient than most countries ✅ Why mortgage brokers are gaining market share (and will continue to) ✅ The real impact AI will have on brokers, lenders, and deal flow ✅ Why complexity in lending is increasing demand for expert advice ✅ Where growth is coming from in the next phase of the market As lending becomes more complex and technology continues to evolve, the role of the mortgage professional is changing, not disappearing. Whether you’re a real estate investor, mortgage broker, or someone trying to understand where the housing market is going next, this episode provides a high-level, insider perspective on the future of lending in Canada. If you enjoyed this episode, make sure to follow or subscribe to the BLD Financial Podcast and share it with someone who would find it valuable. About Eddy Cocciollo: Eddy Cocciollo is the President of DLCG Mortgage Group, the parent company to Dominion Lending Centres and its network of mortgage brands. With a career spanning banking, government (CMHC), and executive leadership, Eddy has played a pivotal role in shaping mortgage distribution and broker growth across the country. He oversees a national network of over 9,000 agents and supports one of the largest volumes of mortgage originations in Canada. Follow & Connect with Eddy: Instagram - https://www.instagram.com/eddycocciollo/ Facebook - https://www.facebook.com/eddy.cocciollo E-mail - eddy@dlc.ca  Follow & Connect with DLC Group Of Companies: Website - www.dlcg.ca YouTube - https://www.youtube.com/@dlcgmortgagegroup637 LinkedIn - https://www.linkedin.com/company/dlcg-mortgage-group/ Instagram - https://www.instagram.com/dlcgmortgage/ Facebook - https://www.facebook.com/dlcgmortgage/ Follow & Connect with DLC: Website - https://dominionlending.ca/? YouTube - https://www.youtube.com/user/DLCcanada LinkedIn - https://www.linkedin.com/company/dominion-lending-centres/ Instagram - https://www.instagram.com/dlccanada/ Facebook - https://www.facebook.com/DominionLendingCentresCanada  Follow & Connect with Josh & Ehren: Instagram - https://www.instagram.com/bldfinancial Facebook - https://www.facebook.com/BLDfinancial YouTube -  https://www.youtube.com/@bldfinancial DLC National License: 12360

Why Most Developers FAIL Before They Even Build ft. Zachary Jancsar Ep. 26

“You think you're walking into a project… and then you find out after you've acquired it, you can’t even do it.”  In this episode of the BLD Financial Podcast, we’re joined by Zachary Jancsar, a mid-market real estate developer, brokerage owner, and investor who has scaled from small residential deals to over 70 multifamily units across Southwestern Ontario.  This episode breaks down the real, behind-the-scenes truth of real estate development, from first deals to mid-size multifamily projects, and what actually happens when you try to scale in today’s market. With over 20 years of experience in real estate, land, and multifamily development, Zack shares how he transitioned from student rentals and small BRRRR deals into larger infill developments, construction projects, and vertically integrated operations including property management and construction. While many new investors are rushing into development chasing bigger deals, Zack explains why most first-time developers underestimate timelines, capital requirements, and risk, and how that leads to costly mistakes early in the process. We break down: ✅ Why most developers fail before they even finish their first project ✅ The “experience tax” and mistakes that can cost you hundreds of thousands ✅ Why timelines, not costs, are the biggest risk in development ✅ How market shifts and financing changes can kill deals mid-project ✅ Why scaling multifamily requires more than just building bigger As construction costs remain volatile and financing conditions continue to evolve, the path to becoming a successful developer is far more complex than it appears online. Whether you’re looking to build your first multiplex, scale into mid-size multifamily, or better understand the risks behind development in Canada, this episode offers a grounded, experience-driven perspective on what it actually takes to succeed. Who is Zachary Jancsar? Zachary Jancsar is a real estate developer, Broker of Record, and investor based in Southwestern Ontario. With over 20 years of experience, he has built and scaled a portfolio of residential and multifamily properties while also operating across brokerage, construction, and property management. His approach focuses on long-term investing, strategic development, and helping others navigate real estate with a full-picture perspective. Follow & Connect with Zachary Jancsar: Linked-In - https://www.linkedin.com/in/zachary-s-jancsar-6b221830/ Instagram - https://www.instagram.com/zacharyjancsar/ Building Group Website - https://www.jhbuildinggroup.ca/ Property Management Website - https://www.jhpm.ca/ Family Advantage Website - thefamilyadvantage.ca Email - zachary@thefamilyadvantage.ca Phone - (226) 799-1963 Follow & Connect with Josh & Ehren: Instagram - https://www.instagram.com/bldfinancial Facebook - https://www.facebook.com/BLDfinancial YouTube -  https://www.youtube.com/@bldfinancial DLC National License: 12360