Why the Next 12 Months Could Be the Best Time to Buy Real Estate
What can a conservative approach to multifamily investing teach you about surviving a changing market?
In this episode, I sit down with Nick DiLeone, Managing Partner and founder of Leone Real Estate Partners, a Dallas-based firm focused on value-add and core-plus multifamily, RV parks, and warehouse and industrial investments. With over 20 years of commercial real estate experience, including senior asset management roles at Nuveen Real Estate and Berkeley Partners, Nick has closed 14 GP deals and now stewards over $100 million in assets under management.
We talk about how his institutional background shapes the way he buys, why a loan assumption helped him get ahead of rising rates, why he diversified into RV parks and triple net, and where the multifamily market really stands today.
What We Cover
Nick’s path from finance and IT into institutional real estate and eventually his own syndication business
Why a conservative background shaped his approach to leverage and deal selection
The Waco deal and what true value add looked like in practice
Why loan assumptions became a smarter play than floating rate bridge debt
How and why Nick diversified into RV parks and triple net alongside multifamily
How Nick approaches asset management and works with third party property managers
What is actually happening in the multifamily market right now and why deals keep falling apart
Nick’s DFW meetup and current investment offering
Key Takeaways
A conservative underwriting background, even sixty five percent leverage, can set the tone for how you evaluate every deal going forward
True value add often just means fixing the basics an owner never did, protesting taxes, bidding out insurance, and pushing rents
The Fed telling you rates are going up is a warning worth listening to, even if you do not know exactly how high they will go
Committing in advance to punch out once you hit investor return targets removes emotion from the exit decision
Diversifying into other asset classes can make sense when your core market becomes overpriced, but only with the right specialized partner
Treating a third party property manager like a partner instead of a vendor leads to better communication and better outcomes
Real estate has effectively been in a recession for multifamily for three years, and prices are only now starting to truly reset
Connect with Nick DiLeone
Email: nick@leonarepartners.com
Instagram: @nickleonepartners
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