Quit Claim Deeds / Cash out refi on cash purchases within an LLC

[Keith Jefferson]

I was recently doing some research both online and speaking to a couple of lenders. I wanted to hear from other investors, lenders, etc from the BP family. I'm sure many of you have experienced this in some shape or form. 

I want to cash out refi on a property I purchased all cash for. I purchased the property with an LLC. Recently I was talking to a lender and also researched about the process. I found out two solutions. The lender told me that the only way that the cash out refi could be accomplished is if I quitclaim deed the property into the name of an actual person, complete the refi, and quitclaim deed it back. I also read that there are ways, lenders that will actually do the refi while the property is in the name of an llc.

Does anyone have any experience with this? What is the difference in the length of time it will take to do? Is one method better than the other? Lastly, does anyone have any contacts for lenders that can do the refi while the property is in the name of an LLC?