rent or buy condo for business

[jakester]

i intend to retire within 10 yrs, i need to decide wether to purchase a condo for 330000 w 6000 yr condo fees or rent a space for approx 40,000 a yr ,,,that 330000 would be earning interest or hopefully investment gains otherwise and i wonder if the market in condos is at a peak,,,any opionions

 

[Marshac]

That must be one nice condo for $40k/year!

 

[wabmester]

Are they similar places? If so, it's a no-brainer: buy. If somebody can get $40K/year rent from that condo, subtract the $6K fees, and you're getting $34K/year from a $330K investment -- better than 10%/year. But I suspect you're comparing apples and oranges, in which case the answer is: no idea.