Deal Flow Friday

In this episode of Deal Flow Friday, host David Moghavem speaks with Aleksey Chernobelskiy, founder of the GPLP match platform. They discuss the journey of entrepreneurship, the creation of the GPLP match platform, and the importance of connecting general partners (GPs) with limited partners (LPs) in real estate. Aleksey shares insights on leveraging technology, social media strategies, and common pitfalls in GP presentations. The conversation also touches on market insights, asset classes, and advice for LPs navigating investment opportunities.

Chapters

00:00 Introduction
04:19 The GPLP Match Platform: Concept and Creation
05:18 The GP-LP Match Platform
06:50 The People Behind the Deal
10:39 Solution to Managing Deal Flow
13:44 Leveraging Technology to Increase Efficiency
15:20 Social Media Presence & Strategy
18:26 Common Pitfalls in GP Decks
18:32 Navigating Political Risks in Real Estate
20:55 Advice for LPs: Sifting Through Deals
21:20 Aleksey's GP Pet Peeves & Red Flags
24:21 What type of deals is Aleksey Bullish on? 
29:24 Aleksey's Recommendations to LPs 

What is Deal Flow Friday?

Every Friday, join us as we dive into the latest in real estate multifamily with David Moghavem, Head of East Coast Acquisitions at Trion Properties. David invites top experts who know the ins, outs, and trends shaping the real estate multifamily market across the nation!

Whether you’re a seasoned investor or just curious about where the next big opportunity might be, Deal Flow Friday brings you the weekly inside scoop on what’s hot, what’s not, and what to watch for in today’s ever-evolving real estate scene.

David Moghavem (01:21)
All right, everyone, welcome to another episode of Deal Flow Friday. I'm your host, David Mogavum. And today, not going to try to pronounce his last name, but you don't need a last name because if you're on LinkedIn, everyone knows who Alexi is. So Alexi, the founder of the GPLP match. I see at least a post a day from you on LinkedIn. It's a pleasure to get you on the pod after following you for all these years.

founder of GPLP match platform, author of LP lessons newsletter. You got to subscribe. got to follow what Alexi is up to a true entrepreneur. Alexi good to have you.

Aleksey Chernobelskiy (02:01)
say a true entrepreneur but I feel like I'm just trying I'm trying surviving

David Moghavem (02:05)
Isn't that what

entrepreneurship's all about? It's all about trying and surviving, you know?

Aleksey Chernobelskiy (02:10)
Yeah, you know, it's funny, like I feel like that's

a big part of entrepreneurship is just realizing at some point that everyone is just trying to figure it out as they go along. That's certainly my case. I can tell you that, but I appreciate the compliment. Right.

David Moghavem (02:21)
Yeah, mean, exactly. You gotta enjoy the struggle. It's about the journey.

And part of that journey is meeting new people and trying to get new perspectives. And that's what this pod is all about. It's a real estate pod, really real estate people in general are entrepreneurs, raising money, raising capital, coming up with business plans, coming up with ideas. So yeah, I mean, we're all entrepreneurs in this together.

Aleksey Chernobelskiy (02:51)
Yeah, I love it. Thanks again. Sorry, I didn't mean to ignore the original comment, but thank you for having me. It's a pleasure. It's a pleasure to be here.

David Moghavem (02:55)
No, problem, no problem.

I know you are also a quadruple major at University of Arizona.

Aleksey Chernobelskiy (03:03)
True statement. It's a separate question as to whether I would still do that again today, but yes.

David Moghavem (03:10)
Are you going to catch the March Madness? As we're recording this pod, Arizona is about to play Duke later tonight. You're going to catch that game?

Aleksey Chernobelskiy (03:22)
I would be lying if I said I would. I just honestly just don't have time to follow sports as much. Yeah, man, I'm just grinding. Like I also have, I also thank God like I have three kids, you know, it's like, I try to find enough time to sleep nowadays. That's the focus.

David Moghavem (03:25)
Yeah

That's a true entrepreneur. That's the right answer. Exactly. Exactly. No time for distractions. Yeah, exactly.

Yeah,

yeah, that's true. That's true. The college days are over. So back to the grind.

Aleksey Chernobelskiy (03:46)
I usually

listen to the highlights. I always see the updates from my friends, so I feel like I see enough. Exactly, yeah, The GPT notes.

David Moghavem (03:51)
Yeah.

The spark notes, yeah. Yeah, true.

True, true. So Alexi, let's jump into it. mean, for those of you that don't know in the audience, the GPLP match platform has been a big hit. It's all over LinkedIn. Alexi's done a great job hand picking and auditing those who've been signing up.

So, Alexei, we'd love to hear from you. What made you want to start this platform in the first place? Let's start there.

Aleksey Chernobelskiy (04:26)
Sure, I just want to comment quickly on the auditing part. would not call what I do auditing as opposed to just making sure that things are accurate. It's a little intricate. just, yeah. Yeah, meaning I try to make sure that for the benefit of the GP and DLPs on the platform that like if someone says that they have, I don't know.

David Moghavem (04:41)
Sure, making sure it's not a bot.

Aleksey Chernobelskiy (04:52)
10 realized investments, that's actually true, right? And they didn't like mistype or whatever or misunderstand the question, which would be my fault. But beyond that, like the diligence is on the LP. So just in terms of the idea, look, I've been advising LPs for some time. I used to be in like the institutional REIT world.

didn't know so much about GPs and LPs. In fact, I would say I basically knew nothing about three years ago.

So in terms of starting the platform, the biggest thing was just advising LPs for a good year and a half. I kept hearing the same thing. Like from GPs, I heard, hey, I have a good deal. Can you put me in touch with LPs? From LPs, once a week, I would talk to someone who had a big exit, has a lot of cash. And they're just like, where do I find GPs? And usually those conversations are, I notice they're very unique in that.

usually people have some sort of idea of what they want to see, right? They either want like cash on cash of a certain number, they want like a paraff of a certain number, they want a split of a certain number, they want the the GP to have a certain number of properties under their belt in the portfolio or realized maybe they only want to see properties in California or perhaps

the only one is the industrial deals and no others, right? So this is basically that solution where like, you know, Pete can sign up and within like 30 seconds to a minute, basically tell me like, you can only email me if X, Y, and Z parameters are met. That can be market, that can be deal metrics, that can be all types of things. And you know, I...

usually send two to four deals per day. And you know, if you have your filter set, you know, typically you'll get one or two of them, right? Because one, at least one of the filters will fail and you just won't get it, which is the whole purpose of it.

David Moghavem (06:50)
Yeah, it's the idea of there's thousands of deals out there and you have a specified criteria of what you're trying to look for and it widens and casts the net of which deals interest you. Have you thought a little bit also about the people behind the deals and ways to connect season operators with season investors and how to kind of get to that next level? Because these deals from what we experience, it's

Everyone can make a return look the way they want it to on paper. How do you get it to the next level where you can also audit the people in a certain sense or at least put some clarity of who are the people behind the deals?

Aleksey Chernobelskiy (07:34)
Yeah, great question Look the short I think the short answer is It's within like my five-year vision to do something like that I think and and maybe I can just Describe it to you simply, you know any time a public company issues a bond for example They will typically go out and get a credit rating for Moody's or S &P or both right in order for

David Moghavem (07:44)
Mm-hmm.

Aleksey Chernobelskiy (08:00)
the potential bond investors to understand their business, get comfortable and so on and so forth. Obviously in the public markets there's much bigger dollars trading, right? But I think there's a world not so far away where there could be credit ratings for...

Given GP and for and and and somewhat separately I would argue a GP's new deal meaning I would sort of separate they're obviously related but like a GP's health Might be better or worse than the deal that they're working on Standalone, right? And so Hopefully one day I can bring that I just you know to be candid. I just don't feel like I have the reach

David Moghavem (08:36)
Sure.

Aleksey Chernobelskiy (08:44)
to make that work currently. But if I keep compounding for a few years, hopefully that'll be the case.

David Moghavem (08:52)
Yeah, and it makes sense from a qualitative standpoint. Like we already do that from a qualitative standpoint. You meet a sponsor, you meet an operator, you say, okay, they have a great reputation. know, LP might ask for a sponsor's track record and you say, okay, they've performed on these assets. they've been in the business for 20 years. But it does make sense that maybe you can convert that qualitative side of credit rating to

an actual measurable number. So it does make a good sense. I think in the GPLP match, that could potentially be the next step.

Aleksey Chernobelskiy (09:30)
Yeah, I think I I need to reach much much like much larger scale David like I mean I'm saying like it's pretty cool that there's 1500 accredited LPs It's very cool and I'm very proud of it. But like it's it's a scale that's like not even in the ballpark of where I would need to be to to sort of Push out

and establish some sort of rating system that actually sticks, you know what mean? And is meaningful.

David Moghavem (10:04)
Sure. going back to the.

Aleksey Chernobelskiy (10:05)
It's sort of just just to

connect back to like the public markets like Like bond investors like won't even touch a bond generally generally not always but generally it's like the first thing is like hey Can you send me the Moody's report? You know, it's like it's just like where their mind starts Many times or they'll even pull it before talking right to the borrower or the banker

David Moghavem (10:09)
Exactly. Yep.

Aleksey Chernobelskiy (10:30)
But here that's just not the case. You get what I'm saying? You need a massive base of LPs to create something like that,

David Moghavem (10:39)
guess going back to the initial question of what made you want to start this and you were doing LP raising on the side,

Do you feel like the LPs you are working with just weren't seeing enough deals in a sense where they're like, I need to see more deals and this is kind of the solution for it?

Aleksey Chernobelskiy (10:56)
You know, it's actually it's a fascinating question. One just quick comment. I didn't do capital raising on the side. I did like advisory work. I never raised money for anyone and I can't because that would be conflict of interest with me giving people advice. So I've explicitly chose not to do that. And that's also why, by the way, like GPLP match is free to both sides.

David Moghavem (11:12)
Sure.

Aleksey Chernobelskiy (11:21)
So a lot of people did say that. Like, I wish I could see more deals. In a funny way, many people would tell me the opposite. Like, I just have so many deals, and I don't know which one is correct. But this is actually like the beginning of this platform was like this. Like, I write a newsletter to 8,500, or take.

David Moghavem (11:35)
Mm-hmm.

Aleksey Chernobelskiy (11:47)
investors, many of whom are LPs. And I'll tell people like, hey, what is a market split? What is a market prep? What is a market this? Like, what should you see in a deck? And I've realized over time, like, look, the way that I learn isn't really by reading. It's just by seeing stuff, right? And so I could tell people what market is, or I could prove it to them by sending them four deals a day and they'll see, right? Like when you see, you know,

fourish deals a day and like each one of them generally is like a 70 % split or 65 or an 80 or whatever. And some of them have good track records. Then the next time you get a deal that's like a 30, 70 split with someone that doesn't have a track record at all, you would just look at that as an LP because now you've got a little bit educated, right? And...

David Moghavem (12:40)
Yeah, you're creating

a marketplace and you're creating what's market today for prep promote structures by seeing all these deals. Yeah.

Aleksey Chernobelskiy (12:49)
Sort of, yeah, yeah,

yeah. I'm sort of, it's not even creating. It's like, the market is already there. It's just, it's extremely inefficient. And my goal is to make it more efficient.

David Moghavem (12:58)
Right.

For sure, for sure. Efficiency and transparency, right? There's so much data out there. And especially in the real estate environment, there's so much data out there, so many deals, but for it to all be together, synthesized, analyzed together in one platform is what you're creating, which is the next step to make it more efficient.

Aleksey Chernobelskiy (13:21)
I hope so, that's the plan. Meet myself in Nijmegen.

David Moghavem (13:22)
Yeah, exactly. So one thing, one thing I have to ask,

because I see, I see your, your posts every day. Are you coding yourself as well? Are you coding and doing all of this, the backend work yourself?

Aleksey Chernobelskiy (13:39)
Literally everything on GPLP matches me like from scratch including the code

David Moghavem (13:42)
Wow.

Where did you get that experience from to code and build out the platform?

Aleksey Chernobelskiy (13:50)
I mean, so I studied math in undergrad So like I would say I'm like not a software developer by any means it's like very elementary that what I know But you know, honestly David like in the past year Coding has become way easier. There's this program called cursor and You can basically like talk to it and it actually like does pretty well And so like

David Moghavem (14:15)
It's a good

ad for cursor.

Aleksey Chernobelskiy (14:18)
I don't even think they need it to be honest. You know, seriously, like it's so impressive because like I used to spend like hours debugging stuff because I just, dumb. Like I'm not that good at coding, but here you'll like, you literally just tell it, Hey, I think there's an error here. I don't understand it. And it'll like fix it. I don't know, like 50 % of the time it'll be correct on the first try. If not, maybe you'll Google it, but I'm telling you it like it cut the coding.

David Moghavem (14:21)
Yeah.

Aleksey Chernobelskiy (14:47)
by a fraction of like 10 probably for me. Like I would have spent 10 times more hours coding everything if it wasn't for that.

David Moghavem (14:56)
Of course, mean, listen, even with the podcast, with starting this podcast with AI, it's decreased the amount of time to edit significantly by using, you know, we're using Riverside here. And it does some of that audio and video and cutting automatically. And it's done wonders and leveraging that technology allows you to be more productive in what matters.

of the things too that you've been crushing it on is your social media presence and I'm sure that's part of your strategy in growing your LP and GP base. how do you prepare posting? What do you think Do you just post what comes to mind? Do you have a strategy of what you post in order to target who? Talk to me a little bit about your social media presence strategy.

Aleksey Chernobelskiy (15:43)
Yeah, I mean...

To be honest, David, I think it's extremely unsophisticated. I'll just be honest with you. I don't, like I tried, there's like these apps that like help you schedule stuff. There's these apps that like help you make images and all. And I just, like, it's just, I couldn't do it. I don't know. Like I, like something comes to my head and I see it that same day and I think it's valuable and I'll share it. The basic things that you do learn over time is like, you probably shouldn't post too many times per day.

Sometimes the time of day matters, but even that like, you know, probably shouldn't include like links in the post. Otherwise it'll get like sort of less gross. You know, there's like small stuff like that, but it's just, it's just me like,

posting random ideas basically. And I think the key was anything and it was just not just social media, but it's just consistency, man. Like, I mean, I've been doing it for a while. Surprising. I don't know if you're on Twitter. I can't remember. Yeah, so like I've...

David Moghavem (16:44)
Yeah, but I have no followers,

but yeah.

Aleksey Chernobelskiy (16:48)
So I've like

for what it's worth like my LinkedIn growth is like multiples of I I pose basically the same things like sometimes I'll edit it a little bit This is not it it was not the case before but now like I Think I'm I shouldn't say this out loud, but like I'm extremely bullish on LinkedIn And I'm spending a lot of time there and it used to be the opposite. I just like

David Moghavem (16:55)
Same.

same honestly. Yeah.

Aleksey Chernobelskiy (17:16)
I used to despise going on it.

David Moghavem (17:19)
I used to not stand, like couldn't even stand going on LinkedIn before. And I would say in the past couple years, I've gotten more active on it. I think the algorithms just improved tremendously where it's reaching the right people. And on Twitter, on X, I don't know, like I put the same posts and it just gets zero traction. I'm still posting on it, but it's like zero traction. And it's great. I mean like,

Aleksey Chernobelskiy (17:24)
Yeah, exactly.

David Moghavem (17:46)
me being able to follow you and connect with you, I it was through LinkedIn. I think it just reaches the right people at the right times.

Aleksey Chernobelskiy (17:54)
Yeah, I think it figures it out based on social circles and stuff and topics. And look, it's not perfect. It's far from it.

But yeah, I sort of just see it as my advertising, to be honest. It's like, I don't spend any money on advertising, but I just post things that I hope are useful and hope that people find me over time. And I just do it every day, sometimes a few times a day. And I don't know, that compounds to pretty impressive numbers over time.

David Moghavem (18:27)
Yeah, you have a great following. What's like some of the most, like one of the most notable LinkedIn connections or like stories that you're like, holy shit, I can't believe posting on LinkedIn led me to this.

Aleksey Chernobelskiy (18:40)
I probably have more of those on Twitter actually, to be honest, which is kind of interesting. So we can talk about this if you want. My hunch is like...

David Moghavem (18:49)
Sure, I'm curious

to hear it on social media in general, but yeah.

Aleksey Chernobelskiy (18:53)
Yeah, so like I had an exchange with Bill Ackerman, for example, at some point. And I was just like, that's wild. It's crazy. And he actually responded to my questions. And I think we even maybe traded a few messages.

David Moghavem (19:03)
Hey, Alexi, I think

Aleksey Chernobelskiy (19:05)
I guess I had two.

there's another like famous short seller. I actually don't even know how to pronounce his last name, but either channels or candles, Jim. He was like a very big, he used to run like a really big hedge fund. And that was really cool too. And like I've had like a lot of iterations of that, but I think what's interesting about Twitter is I would say Twitter is very binary.

in terms of its users. Either they're just there.

to on people and they're like useless, so to speak, or maybe like negative, right? Like the trolls, you know what I mean? Or they're like very wealthy people with anonymous accounts, like very wealthy. Like people have reached out to me that are billionaires and like we've actually connected and it's like real, you know? And it'll usually be like, you know, something along the lines of like, I've been following you for a year. You know, I just decided to reach

David Moghavem (19:44)
Yeah.

Aleksey Chernobelskiy (20:10)
I really enjoy your stuff and I'm like, this is crazy. Like I'm almost like this is fake. It can't be true, right? But then you speak to them, you know, and that you meet them one day and you're like, wow, that's crazy. Like I met someone. Whereas I think on LinkedIn, super wealthy people usually get off of LinkedIn eventually. You know what I mean?

David Moghavem (20:30)
Yeah. Yeah.

Aleksey Chernobelskiy (20:33)
So I think it's kind of funny like

I think LinkedIn is usually like Obviously, it's full of very successful people, but I think at some point of net worth they almost like get off and Some of them either stay off of social media completely and some of them like make anonymous accounts on Twitter For like news and whatever

David Moghavem (20:51)
You know you made it in

life when you're done with LinkedIn. But you also don't know... There's a point where you're doing nothing with your life, you're not on LinkedIn. Then you're trying to do something with your life, you get heavily in LinkedIn. And then you've made it and you get off LinkedIn at that point. you just start trolling people anonymously on Twitter.

Aleksey Chernobelskiy (20:55)
Yeah, yeah, yeah, yeah.

Exactly, yeah.

David Moghavem (21:18)
Yeah, that's great. back to capital raising as an LP advisor in the past and now kind of a quasi LP advisor too. I'm sure you're still doing a little bit of that on the side with the GPLP match. What are some common GP pet peeves of yours that you can't stand when you're looking at deals that GPs are pitching and you're just like,

A big turn off right from the start when you see it.

Aleksey Chernobelskiy (21:45)
Like I really try to be reasonable, David. know, like I even have written articles about this. Like people ask me all the time, like, what are the red flags? And I just don't think about investments that way. I think the only two red flags that I've published are the word guaranteed because like, I mean, I have a whole article on this, but like if, even if you're personally guaranteeing something that does not mean it's guaranteed.

David Moghavem (21:58)
Mm-hmm.

Aleksey Chernobelskiy (22:14)
And some other ones are like no return of capital clause, believe it or not that exists. I mean, it's like very basic stuff for any syndication, but I've seen deals that don't have it. those two are like really like the only red flags, right? Meaning those are basically reasons to just like put down a deck and never speak to the GP again, in my humble opinion.

David Moghavem (22:32)
Mm-hmm.

Yeah. Yeah.

Aleksey Chernobelskiy (22:41)
Now just like some simple feedback like you would not believe how many decks I see that either don't have an address for the property at all in the deck or it's just like extremely hard to find. You know like sometimes I look for it for like three minutes and I'm like come on guys like there's LPs literally passing on this deal because they can't google the place you know just like basic stuff.

David Moghavem (22:52)
Mm-hmm.

Yeah, going through your GP LP match, was interesting with some of the check boxes that you had and said, does your deck list all the fees that a GP is charging? I'm like, wow, how can you have a deck that doesn't have that? Of what your fees are as a GP, something simple like that. So I'm sure those small items are

Aleksey Chernobelskiy (23:24)
Oh, 50 % of them don't. 50 % of them don't. Right.

David Moghavem (23:33)
probably turnoffs and it's interesting to hear from you as someone who's seen so many of those of those decks of What the what what people are doing and not or leaving out?

Aleksey Chernobelskiy (23:45)
Yep. Yeah, it happens a lot. And I very intentionally put the questions in that way because, as I said, many investment decks don't have fees. Many investment decks don't have an address. They don't have sources and uses. There's just very basic things that I think decks should have. And you'd be surprised how many don't.

David Moghavem (24:07)
Yeah, yeah. And it could be a good deal. It could be a good sponsor. But if they're just overlooking some small thing like that, you might get a lot of people just turning it down just because of that. it's good to know. Alexi, one other thing, you you've you're really into the capital, the capital matching of and matching operators with with money. Do you have your own perspective on?

Aleksey Chernobelskiy (24:20)
Exactly.

David Moghavem (24:36)
a type of geography or a type of asset that you personally are bullish on? I know obviously there's a conflict of interest of trying to recommend like a person, like a deal or operator, but just from what you're seeing out there, what are some, what's like asset type and geography that you're bullish on right now, personally?

Aleksey Chernobelskiy (24:59)
I mean so background wise I was at a REIT. We invested like one to two billion a year in like literally any place essentially in the US. And so I think that experience taught me that like at the right price so to speak and the right returns like almost anything could potentially be interesting. The question is how does it all compare to one another overall?

Is the alignment there? Does the GP have the ability to execute on something? I'll tell you, mean, something that I've spoken about that definitely makes me really nervous, meaning the opposite of bullish, if you will, is just like rent regulation getting worse in some areas. I think obviously like...

David Moghavem (25:46)
Mm-hmm.

Aleksey Chernobelskiy (25:48)
it's been a known fact that some states already have this in place. Like, let's say, New York and California or LA, right, being like some obvious ones. But like, I think, I guess just in my humble opinion, I almost feel like GPs are not paying attention to that enough.

because if you buy a property and a new law passes that caps your rents going forward, the value of your property just changed tremendously and you still own the building. If you're buying in states that have had a track record of more and more of these regulations,

David Moghavem (26:27)
Yeah.

Aleksey Chernobelskiy (26:41)
I don't know, that makes me pretty nervous. It's almost impossible for me to even analyze those deals, to be honest. It's so hard, because you just don't know what's coming.

David Moghavem (26:50)
Yeah, no, it's a

good point. It's a good point. You know, as an operator, you're promising risk adjusted returns, right? But how can you quantify risk, such as political risk, where you don't know what the next move is? The rules can change at any second. So how do you quantify that? And I think to your point, you can't. Insurance, you can somewhat quantify and look at premiums and...

Aleksey Chernobelskiy (27:11)
Right.

David Moghavem (27:20)
bad debt, operationals, there's so many facets of risk that you can quantify. Political risk is probably one of the hardest to do. So I get what you're saying from there. What about asset class wise?

Aleksey Chernobelskiy (27:32)
I'm totally open. I look at everything. I've advised on almost everything. I think I've said publicly that I think the best LP investment I've seen in the past two years was like literally a single tenant vacant office building. I mean, it was just like a phenomenal deal, you know. And of course, by the way, we're on the topic at the time, it wasn't liquid. So like I sent it to a few friends because I just thought it was like phenomenal. And they're like, I don't know.

David Moghavem (27:52)
Mm-hmm.

Aleksey Chernobelskiy (28:01)
office, like single tenant, vacant, like come on, like you can't send me something else and I'm like you just don't understand, like you asked me for distress, like here's the definition of that and they're like yeah I don't know man, like I don't know. You know, people like talking about distress deals.

David Moghavem (28:20)
What got you

most excited about that deal at the time when others were fearing it? What got you super excited about that?

Aleksey Chernobelskiy (28:28)
I mean, I have somewhat of a background in single tenant, right? And that makes it a little bit closer to home, but just bassist, man. It was an insane bassist relative to any comps you could basically find all the way back to 20 years ago. It was crazy. And it was a pretty nice.

David Moghavem (28:33)
Mm-hmm.

Yeah, to the point where if

you demoed it and sold the raw materials as scraps, you would get your money back. Like that low, probably.

Aleksey Chernobelskiy (28:56)
Yeah, in fact, that's what they ended

up doing. Not exactly, but what they ended up doing is they were planning to find a tenant, but someone just bought it and scraped the thing. And so after paying a huge premium to the person who bought it, it was still worthwhile to scrape it and rebuild, which is crazy. anyway you look at it, the potential is amazing.

David Moghavem (29:01)
No way. Yeah.

Yeah. Yeah.

Yeah, yeah.

For sure.

one other question, Alexi, when you're advising all these LPs, what are some of the recommendations you have as they're sifting through these thousands of deals that you're that you're sending them?

Aleksey Chernobelskiy (29:37)
I think the first one is like don't sift through thousands of them, like set your filters, right? They're there for a reason. And that will itself potentially go from thousands to hundreds or dozens, right? Which is the whole point of the filters. Meaning once you get a good sense of what filters you would like to set and what makes you tick, so to speak, as an LP, then you can start setting filters.

David Moghavem (29:45)
Mm-hmm.

Aleksey Chernobelskiy (30:07)
Beyond that, would just say like, no one is telling you to invest. Like sometimes people forget about that. You also don't need to invest in the first deal you see, even if you like it. And I think from a GP's perspective of an LP reaches out and they're like, I'd like to, I've actually had a few of these. Like people reached out to a GP and they were like, hey, like I'm not sure that I'm interested in this.

you know, but do you mind giving me a call at some point? I just have a few questions. They would have a conversation and the LP actually ended up passing, right? But the GP made contact and I'll tell you the honest truth. I think in many cases, LPs see how people react to those things. Like how did they react to having a conversation? How did they react to like the LP saying I'm not interested, right?

And in the meantime, you know, they might be sitting on a few million and they're like thinking about like, all right, like that was really impressive. Like he got, he or she had really good answers and like, I'm going to wait until the next deal and I'll look at it more seriously.

David Moghavem (31:17)
guess last thing to wrap it up, how can people get ahold of you? Obviously on LinkedIn, they can reach out, but I'm sure you're getting bombarded with DMs. How else can everyone get ahold of you and chat with you?

Aleksey Chernobelskiy (31:31)
Yeah, honestly

the easiest is LinkedIn or Twitter. I check my DMs. Sometimes I'm a day or two behind in terms of answering. My email is on LinkedIn too. People can reach out anytime.

David Moghavem (31:45)
Okay, awesome. Alexi, thanks again for hopping on to Deal Flow Friday. Looking forward to seeing what else you're gonna accomplish and looking forward to connecting again.

Aleksey Chernobelskiy (31:56)
Yeah, thank you man. Appreciate you having me on.