Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

4
Posts
0
Votes
Aaron Adams
  • San Antonio, TX
0
Votes |
4
Posts

Can I hire my own C-corp to manage a property I personally own?

Aaron Adams
  • San Antonio, TX
Posted

Hi Everyone,

My wife and I just incorporated and are still getting everything established for the corporation.  After much research, we went with a C-corp over an S-corp. Anyway, my wife owns a home in New Mexico (we live 9 hours away in San Antonio) and uses a property management company to handle everything.  We'd like to start getting everything run through our new corp's checking account, including rental payments coming in and the mortgage payment going out.  

In order to do this, do we need to establish some sort of contract between us, the owners of the home/mortgage and the corporation, which of course we are also the 100% owners? I then assume that with this document, we could get the property management company to redo their contract with the corp, instead of my wife personally.  

 In other words, what is the best way to transition the cash flow out of our personal accounts and into the business's? 

Also, are there implications of the corp doing business out of state?  We incorporated here in Texas, and the house/property management company is in New Mexico.

Sorry for the long explanation, but we're in a bit of a unique situation for newbies.  Welcoming any and all thoughts on the matter.

Thanks!

Aaron and Trish

Loading replies...