Which should come first: Deed to LLC or cash-out refi

[Travis Weese]

Hi all - this is my first post in the BP forum! Forgive me if it is a non-starter. I am ultimately looking to see if I am forcing myself into a corner from a legal perspective. 

My first purchase a few years back was a primary residence that I rehabbed while living in. It is now a long-term rental in my portfolio, renter-occupied and is owned free and clear. It is currently deeded in my name, but I need to deed it to an LLC. That said, I am also wanting to do a cash-out refi (and using said funds as DP for conventional mortagage on primary residence in my name).

From a legal perspective, does one step need to occur before for the other in this scenario? In other words, if the funds withdrawn derive from an LLC-owned property, can the principle owner of the LLC use those funds in a private transaction?

Not sure if this matters, but this would all occur in the State of Washington.

I appreciate any help and guidance on this one!

[Brian Mcmenamin]

@Travis Weese why do you need to transfer it to your LLC's name? I would cash out refi in your personal name unless you own over 10 properties. You'll get a better rate and potentially a higher LTV if you want to maximize your cash out refi. If you do transfer it after from personal name to LLC, your bank could potentially call the loan. More than likely they won't do it as long as you keep paying them. Banks want their money. Good Luck