📌 Check out Aleksey’s Substack HERE
In this episode of the Apartment Investors Podcast, host Jonathan Twombly interviews Aleksey, an advisor dedicated to assisting Limited Partners (LPs) in the real estate investment realm. Aleksey shares insights on the importance of due diligence for LPs before entering deals, highlighting the significance of understanding execution capabilities, alignment of interests, and the specifics of the property being invested in. He introduces a ‘three pillar framework’ for evaluating investments and discusses common pitfalls and misunderstandings LPs might have about the investment process.
The conversation also touches on the ethical considerations and transparency required from General Partners (GPs) in presenting their deals to potential investors. Furthermore, Alexi gives advice on how GPs can effectively communicate and present their deals, underscoring the importance of honesty and clear depiction of past deal performances. This episode aims to bridge the gap in understanding between LPs and GPs, providing valuable advice for making informed investment decisions in the multifamily real estate market.
🖋️ Some key points:
(00:28) A Different Perspective: Advising LPs in Real Estate
(00:54) Unpacking Deals: The Role of an Advisor
(03:04) The Three Pillar Framework for Evaluating Investments
(04:50) The Importance of Trust and Transparency in Investments
(06:40) Communicating Challenges: A Guide for GPs
(13:05) The Power of Honesty in Fundraising
(18:15) Who Seeks Investment Advice? Understanding the Clientele
(21:25) Navigating Capital Calls: Insights and Strategies
(22:55) Market Distress and Real Estate Trends
(24:46) The Genesis of a Unique LPA Advisory Service
(27:13) Rapid Growth and the Power of Social Media
(30:17) The Art of LP Investing: Lessons and Mistakes
(33:27) Advising GPs and Maintaining Independence
(39:25) Final Thoughts and Advice for LPs
📑More about Aleksey Chernobelskiy
Aleksey Chernobelskiy advises limited partners (“LPs”) on existing and future investments. He writes weekly to 3,000 investors at LPlessons.substack.com to explain how to properly vet and think about LP investments in the grand scheme of their portfolios. Aleksey also helps General Partners on matters relating to LPs, such as capital calls or feedback on investment decks.
Prior to advising LPs, Aleksey ran STORE Capital’s $10 billion commercial real estate portfolio and oversaw the firm’s underwriting team. Aleksey graduated from University of Arizona with a quadruple major – Finance, Mathematics, Economics, and Accounting.
Recommended articles:
Top 15 syndication mistakes – https://lplessons.substack.com/p/top-15-syndication-mistakes
26 questions to ask your GP – https://lplessons.substack.com/p/26-questions-to-ask-your-gp
Do sunk costs matter in capital calls? – https://lplessons.substack.com/p/do-sunk-costs-matter-in-capital-calls
🌎Reach out to Aleksey Chernobelskiy
LinkedIN https://www.linkedin.com/in/chernobelskiy
Twitter
🌎Reach out to Jonathan Twombly
LinkedIn: https://www.linkedin.com/in/jonathandtwombly
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🔅 Previous Episodes on Apartment Investor’s Club
Going From Working In Hospitality To Multifamily Investing & Hotel Conversions With Charlie Rushton
Hotel Conversions To Multi Family Housing With David Peters
🎤 Podcast post-production by EZPZ Podcasting
