Kirk Niatsikas and Dr. Amalia Stefanou

Kirk Niatsikas and his wife Amalia, a surgeon, went from dabbling in real estate to getting serious about it after they took Zero to Freedom. 

They started with a duplex where they got their first exposure to the Section 8 program. This wasn't intentional but with COVID, they realized that Section 8 gave them a stable source of rents, so they decided to shift their focus to tenants in this program. With their most recent 16 unit, they are focused entirely on serving veterans through the VASH program, which is essentially Section 8 for veterans. 

Kirk also leveraged his construction background which gave him the confidence to tackle major fixer uppers. The 16-unit, which we feature in the Renovation Stories, was a major turnaround project. He did such a great job with this property that the City took notice and he was able to get concessions from the City, which helped make his investment even more profitable. For example, his property has a 10-year property tax abatement where the property taxes do not increase during this time, even though the value of the property goes up significantly. 

Kirk also self manages all of his properties, which makes his properties cashflow even more. He estimates that he makes about $7,800 per door annually, which is $650/door per month.  

In a few short years, they are now up to 25 doors. While they have a goal of owning 50 doors, they are getting to their cashflow goal a lot faster because they have maximized their cashflow with Section 8 and self-management.

Here are links to articles mentioned in this video:

What is Forced Appreciation?

Build Generational Wealth with 1031 Exchanges