April 23rd, 2012, 09:47 AM
Mitigating building fees through business investment
I've been renting in New York for a while, and I'm interested in buying a condo or apartment in Manhattan. My main concern is the building fees, and losing that money as opposed to buying land and a building in, say, Queens. It seems that one way to mitigate that loss would be to invest in the management company that I pay my building fees to.
Does anyone know if this is a viable plan? Are there other options to get some kind of return on the building fees I pay (other than the actual management and upkeep).