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

Quoting: hello

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.

Shad	Feb 25, 07, 17:06 / #
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?

BubbaWooThreads: 46 Posts: 4,438 Joined: Sep 26, 06	Feb 25, 07, 17:08 / #
are we talking property...?

Shad	Feb 25, 07, 18:55 / #
Just about any business opportunity. I will be in school there for five years, and need to know what is worth getting in to.

helloThreads: 37 Posts: 1,104 Joined: Dec 5, 06	Edited by: hello Feb 25, 07, 19:01 / #
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.

BubbaWooThreads: 46 Posts: 4,438 Joined: Sep 26, 06	Feb 25, 07, 19:03 / #
property could well be something to look at - buy a place, live in it, save on rental costs and sell 5 yrs later...

BubbaWooThreads: 46 Posts: 4,438 Joined: Sep 26, 06	Feb 25, 07, 19:06 / #
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	Feb 25, 07, 20:54 / #
Quoting: hello 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. 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.

helloThreads: 37 Posts: 1,104 Joined: Dec 5, 06	Feb 25, 07, 21:01 / #
Quoting: Lee_England 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". Quoting: Lee_England I knew property was cheap It's quite the contrary - property in good location in Poland is pretty much overpriced.

Lee_England	Feb 25, 07, 21:41 / #
Quoting: hello In the US you can buy a house for $50K. Oh come off it mate, that total BS!

sledzThreads: 29 Posts: 3,202 Joined: Sep 19, 06	Feb 25, 07, 21:53 / #
Quoting: hello 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

LoneStrangerThreads: 3 Posts: 531 Joined: Jan 30, 07	Feb 26, 07, 00:36 / #
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 !!!

lefThreads: 13 Posts: 564 Joined: Jun 27, 06	Feb 26, 07, 00:47 / #
Quoting: LoneStranger 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!

KamykThreads: 3 Posts: 69 Joined: Jan 19, 07	Feb 26, 07, 09:29 / #
Quoting: LoneStranger 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

helloThreads: 37 Posts: 1,104 Joined: Dec 5, 06	Feb 26, 07, 09:35 / #
Quoting: Kamyk 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...

helloThreads: 37 Posts: 1,104 Joined: Dec 5, 06	Feb 25, 07, 22:04 / #
Quoting: Lee_England Oh come off it mate, that total BS! Really?

KamykThreads: 3 Posts: 69 Joined: Jan 19, 07	Feb 25, 07, 23:43 / #
you could buy a small apartment in smaller city .. rent it .. sell it when you decide to leave the country

lefThreads: 13 Posts: 564 Joined: Jun 27, 06	Feb 25, 07, 23:49 / #
Quoting: Lee_England 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.

erg	Feb 26, 07, 01:55 / #
Quoting: Shad 40,000 US You can buy a nice car for this in Poland. So You can start your own Taxi company.

sledzThreads: 29 Posts: 3,202 Joined: Sep 19, 06	Feb 26, 07, 09:47 / #
Quoting: hello Reply Quote . Feb 25, 07 [22:04] . Post #11 Quoting: Lee_England Oh come off it mate, that total BS! Really? 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

helloThreads: 37 Posts: 1,104 Joined: Dec 5, 06	Feb 26, 07, 09:49 / #
Quoting: sledz 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".

sledzThreads: 29 Posts: 3,202 Joined: Sep 19, 06	Feb 26, 07, 09:52 / #
sure if you want to live in the middle of nowhere you can find a house for $50k

sledzThreads: 29 Posts: 3,202 Joined: Sep 19, 06	Edited by: sledz Feb 26, 07, 10:12 / #
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

szarlotkaThreads: 14 Posts: 3,350 Joined: Feb 20, 07	Feb 26, 07, 10:37 / #
Quoting: Shad 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)

KamykThreads: 3 Posts: 69 Joined: Jan 19, 07	Feb 26, 07, 22:47 / #
Quoting: hello 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

helloThreads: 37 Posts: 1,104 Joined: Dec 5, 06	Feb 26, 07, 23:04 / #
The property prices do go up, but when you substract the inflation rate you end up making 1-2% per year.

lefThreads: 13 Posts: 564 Joined: Jun 27, 06	Feb 27, 07, 00:42 / #
Quoting: hello The property prices do go up, but when you substract the inflation rate you end up making 1-2% per year. 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	Feb 27, 07, 00:46 / #
Quoting: lef regions offer nothing apart from high unemployment, crime and drunkenness. Exactly like in indian reservations and the whole MiddleWest in USA.

lefThreads: 13 Posts: 564 Joined: Jun 27, 06	Feb 27, 07, 00:57 / #
Quoting: geordi Exactly like in indian reservations and the whole MiddleWest in USA 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	Feb 27, 07, 01:08 / #
Quoting: lef 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!

lefThreads: 13 Posts: 564 Joined: Jun 27, 06	Feb 27, 07, 01:10 / #
Quoting: geordi But You know what? I have created them I'm listening!....how......by the way I'm not unemployed