WS1920 LP Investing Insights | Aleksey Chernobelskiy

Welcome back to the Real Estate Syndication Show! I'm your host, Whitney Sewell, and today we had the pleasure of speaking with Aleksey Chernobelskiy, an expert advisor for LP (Limited Partner) investors in the real estate syndication space.

Aleksey brings a wealth of knowledge from his experience managing Store Capital's $10 billion commercial real estate portfolio and his impressive educational background as a quadruple major from the University of Arizona. He now shares his insights with nearly 2000 investors through his Substack and assists GPs (General Partners) with various aspects of LP relations.

In our conversation, Aleksey emphasized the importance of LPs taking their time to understand deals and maintaining a healthy dose of scepticism when evaluating potential investments. He also highlighted the need for LPs to be sensitive to the GPs' position, as they manage inquiries from various investors.

We dove into Aleksey 's article on the top 15 syndication mistakes, discussing how LPs should approach deal splits, preferred returns (PREFs), and IRRs (Internal Rate of Return). Aleksey stressed that LPs should not focus solely on IRRs, as they can be misleading and often depend on aggressive assumptions. Instead, he advises LPs to understand the risks and the factors that could impact the deal's success.

We also touched on the topic of fees, with Aleksey  explaining the rationale behind acquisition fees and the importance of transparency from GPs. He pointed out that while fees are necessary for GPs to operate, LPs must understand how these fees impact their investment from day one.

For those interested in learning more from Aleksey , you can find him on  LinkedIn, and his Substack, where he regularly shares valuable insights into the world of real estate investing.

Thank you for tuning in, and don't forget to like and subscribe for more expert advice on real estate syndication. Share the show with your friends and help them become better investors too!

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