LLC Creation on Cash Out Refi - Getting the Money

[Jason Schmaltz]

I am in the process of lumping 12 properties together into a portfolio commercial loan. The lender requires I put all my properties into an LLC (currently all in my name) - no problem for me to do this and quitclaim all deeds. From there, we progress to the loan closing and the funds will be wired to my newly formed LLC. My desire from that point is to transfer the newly acquired funds back to my personal account to do whatever I want with but I want to ensure there is no potential tax burden. My understanding is the LLC is simply an extension of myself so this should not be an issue since refinancing is not a tax event but wanted to double check with this group.

Thanks,

Jason