In today’s Real Estate Syndication Show episode, Lance Pederson, co-founder at Passive Advantage and creator of the Empire Builder Formula, returns, sharing insights from advising General Partners (GPs) and Limited Partners (LPs) in real estate syndication.
Our discussion explores frictions between GPs and LPs and strategies for smoother partnerships. Key takeaways highlight transparency and data access. Lance suggests GPs use secure data rooms like Google Drive or Dropbox for sharing financial models with LPs under a non-disclosure agreement (NDA).
To build trust, Lance recommends GPs undergo annual background checks and upload results, along with a principal questionnaire, to the data room. He stresses realistic underwriting, advising GPs to be conservative and honest, educating LPs on investment realities.
Lance also shares success habits, such as early bed and wake-up times for a productive day. On a spiritual note, he highlights the significance of discipleship and mentoring in one’s faith journey.
Excitingly, Lance will contribute to the podcast, hosting shows and bringing expertise to listeners. Remember to like, subscribe, and share the Real Estate Syndication Show for more real estate insights. Share with friends looking to enhance GP-LP relationships, and stay tuned for expert advice on navigating the real estate syndication landscape.
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About Lance Pederson:
Lance Peterson, a General Partner (GP) at Resonance Capital Group, specializes in acquiring Class B industrial properties in the US Heartland. He co-founded Passive Advantage, developing software for passive investors to analyze real estate syndications. Since 2008, Lance has been in real estate investment management, serving as a GP in a firm that transitioned from hard money lending to capital allocation, growing AUM from $0 to over $300M. Lance also founded and managed a real estate fund administration firm overseeing more than $3B in AUA. Throughout his career, he assisted over 200 real estate sponsors in structuring investment funds.
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