Refinancing using my own LLC to expedite?

[Jeff P.]

I have recently BRR'd a property and am on to the refi portion.  Last time I refi'd an investment property, it was a long painful drawn-out process. 

I have read comments regarding your own LLC (not the same owning the property) have a 1st position lien on said property. That way when you refi (in my personal name of course), the new bank cuts the check to pay off the "existing" mortgage. I'd like to know what the mechanics are of this strategy and its pitfalls.

Anyone care to share?

Thanks!