debica realestate,Building for profit.

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Nov 7, 10, 19:08 #1

Hi guys, lets say I have 100lots in Debica that were approved, is it possible to make money building 3-4 houses at a time and selling. How much could I build for and how much could I sell for. The lots were passed down to my dad from his dad and are close to the new highway that is scheduled for construction. I renovate houses in Canada for a living and am wondering if this could be something for me to get into. Would 300K be enough that lots are already ours.

Thanks..

terriThreads: 1 Posts: 385 Joined: May 3, 09 ♀	Nov 7, 10, 19:18 #2
300k Dollars or Pounds if Canadian dollars - not.

rafal1234Threads: 1 Posts: 4 Joined: Nov 7, 10 ♂	Nov 7, 10, 19:25 #3
300k canadian its on par with the american dollar now, So how much would be enough and what kind of profits can one expect, Im not talking about getting rich more like creating my own work and comfortable life.

Wroclaw BoyThreads: 57 Posts: 5,478 Joined: Jul 3, 09 MEMBER ♂	Nov 7, 10, 19:30 #4
In the good old days you could start building and sell off plan, take a 20% deposit per property and plough that back into the development. You really need to cost everything out make sure you have enough capital to complete a few then sell, build, sell, build and so on.

rafal1234Threads: 1 Posts: 4 Joined: Nov 7, 10 ♂	Nov 7, 10, 19:41 #5
what about building 3 with neutral decor and then putting them up for sale. I'm sure you can build 3 houses for 300k-400k canadian, I'm just wondering if people will buy and what kind of profits can be made. Can I do 3 a year and live comfortably.

Wroclaw BoyThreads: 57 Posts: 5,478 Joined: Jul 3, 09 MEMBER ♂	Nov 7, 10, 19:47 #6
836,000 PLN might be a little tight getting three houses built for that, of course it depends on size, finishing standard and such. Considering you have a chunk of capital and the land may be worth approaching some banks for financial backing. I'd need to really look in detail at your plans to get an accurate idea. Area/location will have a huge impact on the sales price.

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Edited by: SeanBM Nov 7, 10, 19:52 #7

rafal1234:

are close to the new highway that is scheduled for construction.

I was just looking at photos of houses currently being dismantled in Debica on the highway they are going to build.

Wroclaw Boy:

836,000 PLN might be a little tight getting three houses built for that, of course it depends on size, finishing standard and such. Considering you have a chunk of capital and the land may be worth approaching some banks for financial backing.

I'd need to really look in detail at your plans to get an accurate idea. Area/location will have a huge impact on the sales price.

This is a very good post.

Have you considered building apartments?

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Nov 7, 10, 20:01 #8

our lots are close to the new highway but far enough that the houses wont have to come down. I dont think we would get permission to build apartments, my dads brother got permission to divide his lot into 50 lots for resalse for residential dwellings. He does not have the capital to develope, my dad has another 50 lots their. I'm young only 28 with nothing holding me down in Canada with about 300k in liquide assets and access to another 100k. If I could build three houses a year and live a normal lifestyle that would be very nice because I like europe better than north america.

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Edited by: SeanBM Nov 7, 10, 20:09 #9

rafal1234:

I dont think we would get permission to build apartments,

Is there a general plan, is the land zoned or will you have to apply for zoning (farming, industrial, residential etc...?) if so what are the specifics?

Is there water, sewage and electricity connections on the plot?

rafal1234:

I'm young only 28 with nothing holding me down in Canada with about 300k in liquide assets and access to another 100k. If I could build three houses a year and live a normal lifestyle that would be very nice because I like europe better than north america.

I appreciate your enthusiasm but there are many things you need to find out first.

Would you not build one house first, rather than ploughing all your money straight in?

I don't mean to sound nosey but how much will your father be looking for, for the land?

Another thing you should be aware of is that Polish technology is very different from others, I do not know Canadian technology for building houses but if it is similar to American, it is very different.

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Nov 7, 10, 20:13 #10

SeanBM:

Would you not build one house first, rather than ploughing all your money straight in?

This is the sensible way to go about it. Build your first one, rent it out for a while then sell it when you can make a more decent profit. Use the profit from first place to move onto second.....do same and move to third. If you do well you could eventually end up not using your 300k at all and just use your profits for the next place (after a while).

rafal1234Threads: 1 Posts: 4 Joined: Nov 7, 10 ♂	Nov 7, 10, 20:17 #11
lol your not sounding nosey, the lots are zoned for residential dwellings, their is sewage and power hook up thats the good thing. My dad will take 5k per lot. He has no use for the land. He is doing ok in Canada.If I could make 30kdollars per house, 2 houses a year would give me enough to live good. North America is good but the pace of life is very hectic.

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Edited by: SeanBM Nov 7, 10, 20:18 #12

dtaylor5632:

Build your first one, rent it out for a while then sell it when you can make a more decent profit.

Or use it as a show house.

dtaylor5632:

Use the profit from first place to move onto second.....do same and move to third.

It would take 50 years for him to finish if he sells one a year.
I am not sure that's what anyone would want but if he were to build one house, he would then know everything there is to know about building the other 49+ and could plough all his money in to it then, is what I meant.
If one house goes completely wrong, he could still walk away but if he starts with all his money put in, if it doesn't work out then he'd be in trouble.

rafal1234:

My dad will take 5k per lot.

How big are the lots?

dtaylor5632Threads: 49 Posts: 4,459 Joined: May 2, 09 ♂	Nov 7, 10, 20:23 #13
SeanBM: I am not sure that's what anyone would want but if he were to build one house, he would then know everything there is to know about building the other 49+ and could plough all his money in to it then, is what I meant. Aha, I get what your saying now ;) I was giving more of an opinion from my situation, as in land and property inherited rather than me buying outright.

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Edited by: warszawski Nov 8, 10, 01:18 #14

rafal1234:

Hi guys, lets say I have 100lots in Debica that were approved,

If you have 100 lots, I would consider getting the media connected, and then just selling the individiual lots without the hassle of the build, Debica is quite a poor area. Poles out of the main cities like to build their own houses because it is cheaper.

Gives you a reason to be in Poland, you could sit in Krakow and only go to Debica for the Notary act. Building you have t be on the job 24/7. Unless you are going to pay someone to supervise.

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Edited by: Maybe Nov 9, 10, 00:20 #15

300,000.00 CAD = 845,192.42 PLN

Please for Christ sake unless you are married to an honest savvy Polish woman whose family knows the crack DO NOT go running into Poland blind, that is going to end in tears.

First visit the country.
If you like it try living here.
if you like living here buy an apartment (easier to resell if you choose to leave).
If you have enough money buy several apartments and rent them out.
Be very wary of Land you will need a good lawyer, a friendly clerk and an honest partner
(if you don't have the language) with whom to process any business concerning Land.

Real Estate is a minefield in Poland, even for seasoned harden pros it is a headache.

warszawskiThreads: 60 Posts: 2,389 Joined: May 21, 10 ♂	Nov 9, 10, 06:11 #16
Maybe: Be very wary of Land you will need a good lawyer, a friendly clerk and an honest partner(if you don't have the language) with whom to process any business concerning Land.Real Estate is a minefield in Poland, even for seasoned harden pros it is a headache. His father and uncle,already own the land.

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Nov 13, 10, 00:23 #17

rafal, I have several residential lots near a major city in Poland. I bought a chunk of land zoned for farming and after few years successfully got the zoning changed. I considered all available options and discussed this with many people in Poland including my R/E agent and friends who are builders. Like you, I have means do develop the land and sell homes. After many months of brain storming we concluded that the best and safest option is to sell undeveloped lots.
Make sure you review your covenants which should specify what you can build on each lot (it will include area coverage %, roof design, # of dwellings allowed etc.) Good Luck!

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