u/TheDaezy

Hello! I currently own one unit in a co-op and am wondering if it makes sense to buy more. I originally lived in my unit, but have been renting it out for the past 2 years. I have been on the Board for the entire 5+ years I've been an owner. Our co-op owns the land it's on. I think that if I buy more units, that even if I were to become a majority owner I would still have just 1 vote? Also, I think that even if I owned all the units, I still wouldn't own the physical real estate? The corporation would? I don't know who the corporation is and am still confused by the concept of owning shares in the corporation rather than owning the property itself.

If I bought more units, I plan to use them as rentals long-term. I'm wondering if there are any risks I need to consider with this strategy given that this is a co-operative not a condo? Also, I have heard that it is possible to legally convert a co-op to a condo and would like to learn more about that.

Thanks so much for any guidance you can provide.