Domenicos Kosteris has been working in the real estate sector for decades.
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He started investing in real estate in 1998 on the south side of Chicago. After a couple of years, he started to branch out in his investing into the Northwest Indiana and the south suburbs of Chicago. Domenicos would enact a clever investment strategy method called BRRR. BRRR stands for Buy, Rehab, Rent, Refinance, Repeat. Basically, with this strategy, one buys the house outright and makes the necessary repairs. In order to purchase the house, Domenicos was using convenience checks from credit card companies. At that time, they were offering these checks at very low introductory rates, thinking they would raise the rate later. Domenicos would obtain these checks but then pay them off before the rates could be raised, thus avoiding exorbitant interest rates. Domenicos would rehab the house and find a renter. After he found a renter, he would go to a bank and have the house refinanced. The bank would in effect pay back the creditors who financed this deal. Domenicos used this ingenious method of financing his property investments for years and he still does this but uses his retirement funds instead of convenience checks.
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Over the years, Domenicos has assembled a team that consists of a realtor, lawyer, plumber, electrician, painter, exterminator and lawn care. In recent years, he has also been purchasing houses by putting down the required 20% and investing strictly in single family houses because he finds them easier to manage. The tenants of single-family dwellings also tend to stay much longer than tenants in multi-unit buildings. Over his decades in this business, Domenicos has learned many lessons and become a very seasoned entrepreneur in the real estate sector. He has become an expert on how to flip houses. He has also made the decision to sell some of his houses in the south suburbs because the property taxes rose too high over time. He developed some great relationships with his tenants and he even offers them a finder’s fee if they can refer me a new tenant when there is a vacancy.
When he is not busy managing his many properties or looking for a new investment opportunity, Domenicos loves to spend time with his wife and two sons. He enjoys ethnic dining. His favorites include Ethiopian, Middle Eastern and Italian. He is a devoted husband, father, and man of faith. He puts much effort into having both a well-maintained mind and body. As an avid mixed martial arts fan, Domenicos delved into studying and becoming disciplined in muay tai, a martial art and combat sport that uses stand-up striking along with various clinching techniques and takes a substantial measure of physical fitness and dedication.
No matter what activity he is engaged in, Domenicos Kosteris makes sure that he gives that activity his full attention. He lives his life with integrity, with days full of hard work and devotion to his family, faith, and community.