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May 19, 2012

Sandy 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:

Right now is NOT a good time to sell real estate. If you can hold on, the market will go back up again.

Your big problem is exchange rates, not real estate. The real took a hit, and is back up to where it was about 3 years ago.

Http://finance.yahoo.com/q/bc?s=BRLUSD=X&t=5y&l=on&z=m&q=l&c=

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