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Your Questions About Apartments For Low Income Nyc

April 16, 2012

Sharon asks…

With the economy going sour should I just cut my loses and bring my investments home to Brazil?

With the economy going sour should I just cut my loses and bring my investments home to Brazil?
I’m from Brazil, lived in NYC my entire chldhood

My father worked as a Garbage truck driver in the NYC union for more than 30, made quite his fortune with smart investments, mainly apartments. He passed away a year ago, I being his only son took all his posetions, now I own 6 apartment buildings each generating about $3,500 dollars a month. Needless to say, with the low cost of living, I had quite the income from those apartments alone.
At one point at its peack, the apartments generated around 65,000 reais a month when the reais to dollar exchange was 3.2 for dollar, now its 1.5 per dollar, and my monthly income has shrink by more than half when compared to back then

I was wondering if you think its best I cut my loses and start brining the money home by selling the buildings, I’m hesitating since I’m optimistic about the economy of the USA improving in the near future and the exchnage rate going back to how it was.

What do you reccomend me doing?

Administrator answers:

Rents in NYC appear to be good. Though the real estate market in general will probably be slow over the next 2-5 years.

Ruth asks…

With the economy going sour should I just cut my loses and bring my investments home to Brazil?

I’m from Brazil, lived in NYC my entire chldhood

My father worked as a Garbage truck driver in the NYC union for more than 30, made quite his fortune with smart investments, mainly apartments. He passed away a year ago, I being his only son took all his posetions, now I own 6 apartment buildings each generating about $3,500 dollars a month. Needless to say, with the low cost of living, I had quite the income from those apartments alone.
At one point at its peack, the apartments generated around 65,000 reais a month when the reais to dollar exchange was 3.2 for dollar, now its 1.5 per dollar, and my monthly income has shrink by more than half when compared to back then

I was wondering if you think its best I cut my loses and start brining the money home by selling the buildings, I’m hesitating since I’m optimistic about the economy of the USA improving in the near future and the exchnage rate going back to how it was.

What do you reccomend me doing?

Administrator answers:

If the U.S. Economy goes down, the world economy will go down. Plus the U.S. Is a fluid economy and has rebounded from a lot worse. The majority of the problem is more about political parties trying to gain points in the next election than an actual crisis so if I were you I would ride it out for the next two years and wait for the next boom cycle to start.

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