Introducing Land Academy Classroom (LA 1423)Transcript:Steven Butala:Steve and Jill here.Jill DeWit:Hello.Steven Butala:Welcome to the Land Academy Show entertaining land investment talk. I'm Steven Jack Butala.Jill DeWit:And I'm Jill DeWit broadcasting from sunny, hot almost-Steven Butala:Hot?Jill DeWit:I guess it's not hot.Steven Butala:It's gorgeous out.Jill DeWit:It's nice. All right. Gorgeous southern Arizona. I don't have a good saying for this. We got to figure out the Arizona saying.Steven Butala:Yeah, it's okay. Might take a couple of weeks.Jill DeWit:It might. If you have any ideas, please put them in the links below and tell me what to say because I clearly don't know what to say. But Arizona's awesome.Steven Butala:Today, Jill and I talk about our introduction to Land Academy Classroom. Jill and I are real proud of this. About a year ago, people started to ask us for the next product. Great, you guys have a self-study product, but we really would like to be in some type of classroom setting where we can learn from you directly and we all go through it together, like a regular classroom.Jill DeWit:And it's not an accountability group. This is something very different. We'll explain it here in a few minutes.Steven Butala:Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. And additionally, please join us on Discord. If you're already a member of Land Academy.Jill DeWit:Edgar wrote, "I read that it costs $800 a year." Did he really write this? Is this you but this is true?Steven Butala:This is all true.Jill DeWit:This is true. I happen to know this is true.Steven Butala:I did not make this up in any way. Not have a word of it.Jill DeWit:I thought you put this in here because of me complaining.Steven Butala:No. This is going to be a little bit of a rant.Jill DeWit:Okay, cool. All right. So Edgar wrote, "I read that it costs $800 a year to maintain an LLC in California. Specific to California, are there any other out of the ordinary LLC fees to be aware of in regards to establishing, maintaining and/or one day terminating the LLC?" And Frank wrote, I'm going to read Frank's thing, "Correct on the $800 flat annual fee. There's a $70 filing fee and $5 certified copy fee. Also, an operating agreement is not required, i.e. for single member LLCs between spouses or even multiple people. And it can be verbal, but it's not a good idea. So you may need an attorney to write up an operating agreement. Also, every two years, you have to submit a statement of information, which is a $12 fee."Steven Butala:$20.Jill DeWit:Excuse me, $20 fee. I'm just making up stuff here. "There's no termination fee." So is there more to this, or is that the end of this? Oh, okay. Cool. Happen to have [inaudible 00:02:37]. Inside information is true, and this is all true. It's expensive.Steven Butala:There's a reason we're sitting in Arizona right now and not California. And it's because of crap like this. They make everything from a business owner's perspective infinitely more complicated and expensive than it needs be. I don't know how it got to be this way, but Jill and I are fed up with it. And that's truth. There's no fee at all if you are willing to wait the right amount of time to file an LLC in Arizona. And they don't come after you with all these other little fees and all this stuff. I can tell these two guys are both from California and probably were born there because this is what has been my experience because I've lived in other states, a lot of other states actually, other than California. Oh, yeah. [Inaudible 00:03:30]. You got to do this. You got to pay the $800. You got to do this. You got to cut your toenails correctly. And you've got to make sure that you look okay and wear Vans shoesJill DeWit:Okay. What Jack is nicely saying is they don't know better. They just grew up in it. And that's true. I understand that.