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- Hey, everyone, in this video, what I want to do is talk about the importance of doing things the right way with series limited liability companies. Cause if you screw it up, you could end up like these developers did in Illinois, where all of their assets were at risk. Okay, so what actually happened here? So heres some real estate developers and they buy some buildings located in this little town called Urbana. So they have these nice little properties that they acquired and they had to pull building permits for them in order to go out there and start the rehab work. So they pull the building permits under the name of Platinum Group and they indicate on the actual filing for the building permits, that Platinum Group is the owner. Well, as things would happen, they dont get the work done and then the city starts fining them. And these fines ratchet all the way up to several $100,000. So the city now sues Platinum Group. Well, Platinum Group actually happens to be a limited liabil