Hi, I'm evany Caldwell with Rei investment society. And we are going to talk about starting a property management company but getting this property management company Incorporated. So this section is about getting your company Incorporated. Now, when it comes to getting your property management company Incorporated, you can go online, do it yourself, you can hire third party companies to do it for you, or you can simply hire an attorney. Now I am like huge at doing everything myself. So I'm going to teach you how to do it yourself.

But in the meanwhile, there are a few different companies you can go to to get your company Incorporated. Business filings, calm, Legal Zoom, calm, and cooperate.com Inc file calm. So let's start out with the first company which is going to be business filings calm. As you can see it starts off at about $99 just to get this incorporated Again, that's the filing fee. So don't let this fool you. That's not the fee for the state.

That's the fee for the filing of it. So you want to go ahead and go to business types and Corporation options, packages in prices. And there's a reason why I'm going to click on package and prices first, because I need you to be able to see, based upon the state how much this can cost you. Now, again, I'm in Illinois, and as you see in Illinois, just to start off with this $359 plus keyword is plus state filing fees, right? What if I could show you how to do this online for free and the only filing fee you're gonna pay is your time of what you think your worth and your state filing fee. Okay.

So again, this is business filings.com This is their particular website. In addition to when you go to business filings.com you can see that you can do to doing business as a DBA So if say for example, you apply for the Ei n number, but you didn't want to get incorporated, the Ei n number you apply as a sole proprietor, then in that case, you can go ahead and do a doing business as, once again, you don't have to use this particular company to do the doing business ask, because if you do, as you can see ordering now started off at $99. Then of course, is your company on file with biz? No, it's not. It's not on file, they're going to go ahead and ask me for all of this information. But if you saw the prep the previous video that I had about AI in numbers, then what you will find out is all of this information that you're putting in yourself, guess what, you can do it yourself for free.

So here are the different entities, but again, for the property management company, I would definitely suggest you go ahead and do an LLC. You can do as a sole proprietor but you put yourself in more risk as a sole proprietor doing as an LLC is almost kind of like you shouldn't shielding the identity of your name you as an individual. So here, what is the advantages of an LLC, business owners stand to gain any benefits when they register companies LLC, limited liability protection, which means that owners are not held personally responsible for business debts and liabilities. When an LLC is filed correctly, only LLC assets and not personal assets are used to pay off business debt and of course, pass through taxation flexibility on allocation to honest restriction, but again, this is an Of course credibility. Here forming an LLC may help your business be perceived as a more legitimate business than a sole proprietor or general partnership.

How to form an LLC articles incorporation right so the formalities So you have to file for the articles incorporation. Again, we're not going to go through this particular website to do it. But at least you know how to find additional information if you chooses to use this website. Now the next company is legal zone, while as you can see legal zone, limited liability corporation doing business as what it is services. So you click on here because all we need to worry about is the business itself. Once again, limited liability company.

Packages starts from $79 plus valid fee. But again, it depends upon your state. So I'm just going to put in evany Caldwell, real estate. Let's get started. So you can just pretty much get an idea. I'm going to go through these really, really fast okay, but the one I'm going to take my most time on locating how to do the LLC and In your particular state and how you're going to find out how to do that.

So we click on Illinois. Great news, Ebony appears to be available, your email phone number will help you secure it. Get my LLC Yeah, I'm not going to do that because you know what happens this is extra solicitation. We already seen that from this particular company on the business packaging prices to go ahead and do the LLC in Illinois, we already know 359 so we're going to keep that up. The next company is incorporate comm starting a business. Now here benefits of incorporating we already know that Registered Agent service, you don't need a Registered Agent, they're gonna charge you for that.

You're gonna you're you are going to be your own Registered Agent. Your mother could be the Registered Agent, your father, your sister, your brother, your husband, your friend, a ghost. Basically, the Registered Agent is the person that completed this for you who's going to receive all of the information employee's identification number well You and I both know we can get this for free based upon what we did on the irs.gov website. So under no circumstances I would not want you to spend this money if you do not have to. So let's click on the LLC and see if we can go ahead and get started okay, so ready to create your company give us a call they actually want you to call instead but they got a business comparison chart as to what are the different type of entities and why you should choose them LLC I'm going to always tell you as much better and if you notice LLC have more checks in the C corporation Okay.

The next one we have the Inc file comm So, the different entities manager company Registered Agent, apply for Ei n number. As I said before, companies will charge you for Ei n numbers Look at this $70. If you want to speed the process up, they usually have like an expedited filing fee. You don't pay $70 when you know that you could get it from the irs.gov website based upon the previous course that you took with me for free. Incorporate now. So let's see, we are going to go as do it as an LLC, we see that it starts off at $49 plus the filing fees, right plus, but state information, Illinois.

So we click on our state information right here for Illinois. And as we choose it, we see their basic packages two or three, then there's this package for three or three. What does it include? And to be honest with you almost really don't even care what it includes because the truth of the matter is, you can get this all for free, as As far as the filing fee, you can get done for free and then you just have to pay the state the reason you get it done for free because I'm going to show you. So here so the 303 includes the gold package, the state filing fee of 150. For the LLC kit, express shipping bank resolutions, operating agreement is tax identification number in a business website.

While the business website, that's another course I will teach you how to do the business website, because the only thing you're going to get is a generic business website. That doesn't mean nothing to you. You want to business website for your property management company that is going to put you in a situation where as people are finding you online without having to look for you. Okay, so as you can see already, that this is at three. The other company that we were looking at is that 359 will come with that Is the operating agreement the N form a DVD on how to form a business? Well, you don't need the DVD I'm showing you business license application package.

Again, you don't even need that because I'm gonna I can show you how to do the business license application package that wasn't going to be part of the course persist this on here. I'll go ahead and show it to you. So less for the sake of this I know for a fact because I'm in Illinois is cyber drive illinois.gov I believe to go ahead and look up or to apply in a corporate your business, but let's go incorporate wait. I'm gonna just type in articles of incorporation. Illinois. Now here's the thing.

And actually, what I want to type in is apply for articles of incorporation. Now what I'm doing is you can do this for any state it doesn't have to be Illinois, it could be anybody. You notice the first thing that came up is business file and start your LLC today. He nope that's not what we want to do. Here we go articles incorporation Registered Agent. That's not what we want to do.

Corporation articles of incorporation, this is where we wants to go. When you click in a you will know your state website, so whatever your state website is, that's what it is going to be. So $175 to apply. That is it you don't need anything else. How much did this company tell us to apply for 59 but you can also say what they are actually giving us, um, you know, the Federation Federal Tax Identification Number. Well, we already know of course, like I said, that's free, then.

Okay, well, what about the business license application package? Well, you know what, you got a good point there. So, the cyber drive Illinois website is not going to allow you to apply for the business license, right? But same exact thing. Go to Google. Apply for a business license.

In Illinois. Remember what I said no matter what state that you can type in, apply for business license. In Florida, apply for business license in New York apply for business license in California. You don't have to go and pay additional money if you don't want to. So if you notice when I go to apply for business license, it brings up Legal Zoom again, some other company. I mean, there's so many different people City application Nola chicago.gov, business flying business licenses calm, they definitely obviously is going to trick you there.

Because if I click on there, this is more than likely a company into your state. So even though it has something that says business license Illinois, this is not an Illinois actual website. This is a company that is trying to get your money to do so. So, you go here, a lot of times you're going to know your state because it's going to say.gov keep that in mind. No one can use that that.gov to my knowledge unless they're the.gov. Okay, so you go ahead and click on that site.

And when you click on for the site for the registration, you see where it says registration license and permits. So you can pretty much go here, business tax registration online, register to become a vendor for that particular state. What I need you to under Stan is, every single state have a site that's basically like this. start a business. If you want more information on starting a business like Yes, I'm showing you, you know the basic information to start a property management company. But again, you can click right here is going to show you about starting a business.

If you want to go ahead and get applied for the application for your business, then same exact thing, you can click here. Business registration is going to give you all the requirements. So you do not and I'm going to emphasize under no circumstances do you have to even pay someone to apply. You don't don't pay for business application. We don't have to and this pretty much tells you what type of companies that needs to apply for business license. So now let's go back to incorporating your business in Illinois or incorporating Business wherever.

So you're going to go ahead and click on File the corporation name must include one of the following abbreviations at the end Corporation company which is co incorporated Inc. Limited Corp co Inc, Ltd, the Registered Agent whoever it is your mother sister brother or you you can be your own Registered Agent go ahead and click on line we are apply for the articles of incorporation. So let's just go evany Real Estate let's go continue Look at that. Oh, I forgot we need to go real estate right um, so either Inc. or LLC. And actually should be limited because unlimited also is for the LLC. So that's something else and I noticed that as I was actually typing it in So you're going to go ahead and put in your Registered Agents name, you're going to go ahead and continue. You got to go ahead and put the address and your city and state is asking for the county, the zip code.

We're going to go ahead and continue it saying it doesn't recognize this. So it's saying, hey, there's too many addresses in here or unit numbers. We need to know what the unit number is. We're going to go continue. So let's kill it here. These are all the businesses that's already register at that address.

At the present moment. So the click here you see addresses the correct address, how many shareholders just put 100 100 consideration to be received after 100. So the considerations $100. That's what you're saying your shares are worth, right? So the purpose of the business so they incorporated must be a natural citizen of the age of 18 years old. So let's go ahead and put the same company in there.

Look at this, we are about to be incorporated. This is how fast it says okay. Do you want to expedite the service I request expedited service. So here, expedited service just means that your request will be Within 24 hours none expedited means that within 10 business days, so no, no expedited services require. There we go. Look at this, we've just incorporated our company in the state of Illinois for $175 $175.

Um, and as you can see, the tax identification number, we actually got that for free. And in Illinois, we incorporated for 175. You saw how easy how simple that was for it to happen. Okay, this was 359. If we had chose to expedite the service, so that the only other fee they charge is $25. But if we had chose to expedite the service, I request the service to be expedited.

275 To be totally honest with you, I don't think that this includes the expedition of the service. If you want the service, expedite expedite processing fees may apply. So it's going to tell you what those fees are. Illinois 24 Russian fees so look at so their expedition is an additional $139 which now for which actually look at this, I never even scroll down. So the actual fee that they're charging us $778 to incorporate the business $359 for the package, which included the number you got for free, which includes registering your business or getting the app let me let me rephrase that. It does not include registering your business.

What it includes is showing you get you the business package in a PDF format with You can get the beat the business package in a PDF format by just pretty much going to Google for whatever state that you're in. And simply, all you have to do is type in apply for business license in your state and Massachusetts and Kentucky in Maryland doesn't matter just apply for wherever you're at. Now, again, 275 778 this price you almost gonna see consistently across the board, you know, and maybe $50 off here. $75. Lower here, a higher here, but you're doing it yourself is going to be a big difference. The add on service was $139, which that included the expedition, Illinois State fee 280 is a breakdown.

This is what they're saying. $150 for the filing fee $100 to expedite And $30 for the certified copy fee well you don't need to you don't need all of that because you don't your certified copy you actually going to get this online so same thing we apply for the Ei n number you're going to get that online too. So if you want to go to apply for articles incorporation in Florida same thing look at this Florida corporations legalzoom.com Inc file, whatever it is DOS, my Florida some beers.org. Now here also say Gov right? If you see org and Gov just know for the most part that's the correct now this articles and corporations template that didn't even look right to Because of the way it said it, but I just wanted to see what it was. So I need you to be careful that when you click it in on some of these now, this E file articles incorporation, son biz.org.

This definitely sounds like the Florida site. Articles incorporation for Florida file articles of incorporation. Let's go. Let's start a new filing. Here it is right here. Very simple $70 you get a certificate of status, you get the certified copy, corporate name.

Remember what I said 100 shares the principal business. You're right here were the principal businesses the Mellon address, the Registered Agent name, your annual report your corporate address. That's it, you're done. That's it. That is it. What you don't realize is this may look like it's a lot of information.

All of this does not need to be completed. The officer, the Secretary, all of that can be the same person, your email address, because they're going to go ahead and you can either email us to you or they can give you a certified copy, you can have both, and you see the price $70 That's it. If we go back here, let's just go back for the purpose of this. And let's go to Florida and see how much they're gonna charge us to incorporate in Florida. Same thing 359 and if we want to expedite it for Florida 653 so I just showed you how you will save money and learn how to file your own articles, incorporation and your state by yourself and not having to pay anyone with the exception of the state filing fees. I'm Anthony Caldwell with RTI investments Society, please feel free to email me or follow me for any questions and definitely take the opportunity and join my other courses.