How to protect paid off asset?

[David Morgan]

If I move a rental property in my name with no debt into a single member llc, what's the best way to keep the llc poor, put a mortgage on it through a separate single member llc? If that's the case, and I later decide I want to get cash-out financing, how would that work? Any advice?

[Carl Fischer]

@David Morgan

Wether in your name or an LLC insurance is a good first defense. If you have a "ghost"mortgage on the property and want to refinance you will need to satisfy the ghost mortgage before or at closing most likely. You could possibly get a second or subordinate the first to the new lender dependent on LTV and how much $$ you wanted. Consider getting a line of credit to begin with.