Should I put my rental in an LLC before or after opening a HELOC?

[Kyle Rhine]

So we have one rental property that is 100% paid off and cash flowing each month. The property has a long-term tenant that is very easy to work with. The property is currently NOT in an LLC, but I've had thoughts about setting one up for it and any other properties I buy in the future (I do have a $1M umbrella insurance policy on it and the highest liability insurance I can get).

I would like to open a HELOC against the property in order to secure the downpayment funds I would need to buy a second (and maybe third) property.

Is it better to roll the property into an LLC before or after applying/securing a HELOC? Any advice would be greatly appreciated!