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Updated almost 13 years ago on . Most recent reply presented by

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Scott W.
  • Real Estate Investor
  • chicago, IL
231
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1,284
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subchapter S for existing rentals

Scott W.
  • Real Estate Investor
  • chicago, IL
Posted

I have 2 rentals; 1 in my name; the other in the wife's & want to put these into a subchapter S corporation. Is this possible and, if so, how do I do it?

Do I have to let the bank know as well?

I'm guessing after this is accomplished, the renters will have to write checks to the company name, create a business checking account @ the bank, & then also change the contract from our name to the corporation?

Sounds messy.

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