0:02
fun and easy to create and everyone’s
0:04
into that. But once you’ve got one,
0:07
there’s a lot of work involved.
0:09
Yeah.
0:09
I’d rather see someone with four
0:11
entities properly maintained than the
0:13
structure of, for example, with real
0:15
estate people, one entity per property.
0:17
They’ll never maintain that many. It’s
0:18
just not going to happen.
0:19
Yep. And then they’re opening themselves
0:20
up to all kinds of liability.
0:21
An annual meeting is an important thing.
0:23
And and the attorneys who don’t study
0:25
the law will say, “Well, it’s not in the
0:27
statute.” Have you read the case law?
0:29
There’s a lot of it. Well, now we
0:30
haven’t because there’s a lot of it. Oh,
0:32
I’m sorry. The work. Yeah,
0:34
forgive me.
0:34
Yeah,
0:35
but there is a lot of case law and it’s
0:37
pretty consistent. It weighs things
0:38
there. There are other issues in terms
0:40
of what you need to do to properly run
0:42
an LLC or a corporation. But those
0:45
annual meetings make a difference. It’s
0:46
a perception game. We are building a
0:48
narrative.
0:49
Yep. Story
0:50
to persuade someone we’ve never met and
0:52
hope never to meet,
0:54
a judge. But if we do meet, I got a
0:57
story and it’s a good one and it’s a
0:58
real one. And that narrative of how we
1:01
do things tax-wise, how we do things
1:04
asset protection wise, and also just
1:06
personal honor and how you run a
1:07
business, all of that matters greatly.
1:09
Yes. When push comes to shove.