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Advice on investment of $40,000 in the Warsaw area


Shad  
25 Feb 2007 /  #1
I am coming from the USA to Poland, and have a sum of approx. 40,000 US that I am willing to invest. Does anyone know what kind of opportunities this kind of money can find in the Warsaw area?
BubbaWoo  33 | 3502  
25 Feb 2007 /  #2
are we talking property...?
OP Shad  
25 Feb 2007 /  #3
Just about any business opportunity. I will be in school there for five years, and need to know what is worth getting in to.
hello  22 | 891  
25 Feb 2007 /  #4
Don't want to depress you, but for $40K you can buy a new car in Poland (Nissan Maxima or similar). Prices in the Warsaw area are about the same as in the NYC area so you won't buy even a studio for this amount there. You could try within 50 miles from Warsaw to buy a studio to renovate for that.
BubbaWoo  33 | 3502  
25 Feb 2007 /  #5
property could well be something to look at - buy a place, live in it, save on rental costs and sell 5 yrs later...

true - 40,000 US will get you very little in most of warszawa but anything it does get you will be worth a lot more in 5 yrs time
Lee_England  
25 Feb 2007 /  #6
Are you saying that you could buy something in Poland for £20,000???!?!! That is unbeleivable. I knew property was cheap, but I don't beleive it's that cheap.
hello  22 | 891  
25 Feb 2007 /  #7
Are you saying that you could buy something in Poland for £20,000???!?!!

In the US you can buy a house for $50K. But it's in the country (Oklahoma, Nebraska, etc.). Same with Poland - you can buy a 50-year-old studio to renovate in a town of 5-20 thousands people (not in the city, nor in the Warsaw area for sure) for $40K. Note I wrote: "50 MILES from Warsaw".

I knew property was cheap

It's quite the contrary - property in good location in Poland is pretty much overpriced.
Lee_England  
25 Feb 2007 /  #8
In the US you can buy a house for $50K.

Oh come off it mate, that total BS!
sledz  23 | 2247  
25 Feb 2007 /  #9
In the US you can buy a house for $50K.

Try more like $150K and thats a small house, dont plan on living in any
major metropolitan area.

A modest home will cost between $200K and 400K
Kamyk  2 | 61  
25 Feb 2007 /  #10
you could buy a small apartment in smaller city .. rent it .. sell it when you decide to leave the country
lef  11 | 477  
25 Feb 2007 /  #11
Oh come off it mate, that total BS!

I agree with Hullo, its horses for courses, prices in the country are always cheaper than in the city... likewise in Poland, you can buy a liveable home in Poland for around 100,000Zl ( in the country of course).

You can buy a house in Australia for $40,000A in a small country town.
LoneStranger  3 | 382  
26 Feb 2007 /  #12
Why is the property price in Poland so ridiculously high :( ...!!!

We are not USA... we are not UK :(... our incomes are not like them either. Our prices should be lower. And also we have enough land...the population is not so big! Damn!

I say the Government should do more. ITS RIDICULOUS !!! :(
lef  11 | 477  
26 Feb 2007 /  #13
I say the Government should do more. ITS RIDICULOUS !!!

You can thank foreign investors and people returning home after a stint working in the west for the high property market. I suspect property prices will come down in not so good locations... time will tell!
erg  
26 Feb 2007 /  #14
40,000 US

You can buy a nice car for this in Poland. So You can start your own Taxi company:).
Kamyk  2 | 61  
26 Feb 2007 /  #15
Why is the property price in Poland so ridiculously high ...!!!

artificial demand for property created this .. everyone is buying apartments even though they dont need them .. just want to sell with profit in coupple of years when prices stabilize
hello  22 | 891  
26 Feb 2007 /  #16
want to sell with profit in coupple of years when prices stabilize

True, but when everybody wants to sell at the same time (for real estate market "the same time" maybe a range of 2-5 years), the prices are going to drop, and fast...
sledz  23 | 2247  
26 Feb 2007 /  #17
North Carolina??? Sure go ahead buy a house there.
What about finding a job? maybe you could be a coalminer?
Theres alot of racism there, they dont like outsiders!!
I`ve been there...$50K wont buy You much in the US, maybe a car
hello  22 | 891  
26 Feb 2007 /  #18
North Carolina???

Sledz, read my post again. I wrote:

"In the US you can buy a house for $50K."

Isn't North Carolina in the US? Your claims about finding a job etc. are true, but I only was referring to "a house in the US".
sledz  23 | 2247  
26 Feb 2007 /  #19
sure if you want to live in the middle of nowhere you can find a house for $50k

Typical home rates in Polish community in Chicago.

remaxni.com/RemaxIL/index.asp?p=findahome.asp&page=search&r esults=true&selected=qck

Youre looking at $300K for openers
szarlotka  8 | 2205  
26 Feb 2007 /  #20
and need to know what is worth getting in to

Cinammon, Foksal 19 and a few other clubs :)

Forget property in Warsaw with $40k. My apartment cost double that 5 years ago (and it's not even that big)
Kamyk  2 | 61  
26 Feb 2007 /  #21
when everybody wants to sell at the same time (for real estate market "the same time" maybe a range of 2-5 years), the prices are going to drop, and fast...

true ... but given the fact that property prices usually go up (long run) not the other way around .. the decline caused by the sell-off should be offset by inflationary and high-demand causes of price increase. Overall I think buying a property in Poland is still profitable, especially since property taxex are virtually nonexistent :)
hello  22 | 891  
26 Feb 2007 /  #22
The property prices do go up, but when you substract the inflation rate you end up making 1-2% per year.
lef  11 | 477  
27 Feb 2007 /  #23
I may be wrong but I feel the price of homes in Poland are over priced, in my estimate the average price of a house should be halved, (I'm not talking about properties in Krakow, Warsaw and Zakopana, they have a different market)

My thinking is based on income of the average Polish person ie 3000Zl a month and what is currently being offered for sale ie sh.t properties in outer regions for some 400,000 zl, some of the regions offer nothing apart from high unemployment, crime and drunkenness.

I just wonder what percentages of homes are sold on allegro? anybody like to guess?
geordi  
27 Feb 2007 /  #24
regions offer nothing apart from high unemployment, crime and drunkenness.

Exactly like in indian reservations and the whole MiddleWest in USA:).
lef  11 | 477  
27 Feb 2007 /  #25
Living in outer parts of Poland has its own problems, it may be nice and plenty of fresh air, but try and find a job, power is sometimes cut for a long period of time, poor transport and living life with peasants who have nothing better to do than drink vodka day and night.
geordi  
27 Feb 2007 /  #26
but try and find a job

Aaaa...Yes, now I understand. You are unemployed and frustraded. Look, I have 2 jobs - one in Poland, second in USA. But You know what? I have created them!
lef  11 | 477  
27 Feb 2007 /  #27
But You know what? I have created them

I'm listening!....how......by the way I'm not unemployed
Pawel  3 | 125  
7 Apr 2007 /  #28
You can buy a house in Australia for $40,000A in a small country town.

Oh come off it mate, that total BS!
what town? i would love to know
:) :)
tomcio23  
8 Apr 2007 /  #29
when are you going to be there? what are you going to study? i'm in the same position (except for the money part).. so maybe we could share ideas.
Pawel  3 | 125  
8 Apr 2007 /  #30
when are you going to be there? what are you going to study? i'm in the same position (except for the money part)

Have been here 5 years know,studing business and looking to invest her but every were so expansive .. U can buy land 100acres for 150.000 but yor money takes a while to grow.so thinking of buying a few apartments and than renting them out...

your thoughts

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