Cash out refi for property inside the LLC

[Vadim Du]

Hi, I have few properties in an LLC that are all free and clear. Few lenders have told me that I will need to put it in my name before I can do cashout refi. Anyone had experience with something like that? Can I do a refi while it's in LLC or putting it in my name is the only way?

[Richard Sherman]

You will probably not be able to do a traditional mortgage with it in the LLC name. You would deed them to yourself, do the refinance and then move back (PROBABLY against the terms of the loan so just be aware of that.) OR try for a commercial portfolio loan (talk to the commercial lender at your local/regional/credit unions.)