Argentines Park Their Money In Miami

[Ries]

On a larger scale, in smaller amounts, South Americans have been parking their money in Miami for decades.
But when the US economy crashed, in 2008, I knew several Portenos who bought cheap apartments in Miami- like $35,000 1 bedrooms in North Miami.
I am sure that, compared to keeping their money here in pesos, they have made five or ten times profit, versus the loss, in dollar terms, they would have at Banco Piano.
This is quite common. Many upper class Argentines own real estate abroad, especially in Miami.

 

[Musicman]

Yep - South Americans are one of the biggest investor groups in Florida

 

[Matt84]

Yep - South Americans are one of the biggest investor groups in Florida

And what's your pro opinion? Diamonds or condos in Miami? What would YOU chose?

 

[ghost]

And what's your pro opinion? Diamonds or condos in Miami? What would YOU chose?

He prefers the diamonds implanted in the front teeth.

 

[Musicman]

My recommendation would always be to hold a diversified portfolio and I would include Miami based real estate in there - residential real estate provides a monthly income from renting out and you have the capital growth over the longer term. USA is a stable country so as long as you don't buy at the top of a bubble you will do very well

Diamonds and gold are an excellent hedge on inflation over the long term and although they don't provide an income they should preserve their value over time - unlike paper money printed by governments. They are an important element of an investment portfolio

Currently I see some value in YPF shares given the Vaca Muerta reserves, a likely change of government in 2015 and a strong management team - I will look to establish a position there in the next few weeks

 

[Matt84]

My recommendation would always be to hold a diversified portfolio and I would include Miami based real estate in there - residential real estate provides a monthly income from renting out and you have the capital growth over the longer term. USA is a stable country so as long as you don't buy at the top of a bubble you will do very well

Diamonds and gold are an excellent hedge on inflation over the long term and although they don't provide an income they should preserve their value over time - unlike paper money printed by governments. They are an important element of an investment portfolio

Currently I see some value in YPF shares given the Vaca Muerta reserves, a likely change of government in 2015 and a strong management team - I will look to establish a position there in the next few weeks

Thank you! You seem to really know your business.
But isn't Miami already quiet expensive? I recently received an email from some erudite group of philanthropists urging me to invest in the Dallas housing market. Considering that just as many people speak Spanish in Texas as in South Florida, would you pay for little ads in lanacion and establish a service that "helps" Argentines park their money in Central Texas?
If we join forces you could be in charge of the crystallised carbon hedge fund (we could establish it in Uruguay if you don't fancy the Caribbean, but still either of us will have to travel to Panama or the Dutch Antilles)

Vaca Muerta might come alive next year, but in the meantime I'd stick with gold which never ever goes down in value. ever.

Now, what about football players?

 

[Joe]

The Texas economy is heading for recession due to the oil price collapse. The reason you are getting mailings to buy Dallas real estate is because the smart money is looking to get out. Texas is the large state most exposed to falling oil prices.

 

[Matt84]

Thaks Joe, you know your business in a different way than Musicman. Still I don't know how this information would be relevant to the average Argentine remote-buyer in Dallas. Don't the houses have pools? There's value my friend!

 

[Musicman]

Compared to Florida house prices are much cheaper in Texas still

The oiil price cycle had already happened many times and house prices in Houston have always recoverd and anyway this times it's different - shale oil and gas is here to stay + all the associated manufacturing that goes along with it and then there is the rising dollar

 

[Musicman]

And football players - still great value with prices continuing to break records