I was in your shoes back in 1993 and I managed to get out of the deal. By 1995 it had lost at least another 15% of its value. The odds are very good that a $6500 loss will look like a great deal to you in a year or two when you see what this propery will be worth at that time. As almost every seasoned investor will tell you, a big part of successful investing is knowing when to cut your losses!!
