Refinance and Retitle Strategies

[Cory Miller]

Hi guys.  I have a property that I purchased and improved, all cash in September/October 2021.  The property functions as a short term rental, to nurses with longer contracts and airbnb in between.  The property has been making great cash flowing great and now I'd like to refinance and, cash out and buy more Real Estate.  Seems simple but here is my dilemma.

I'm a Real Estate agent and I purchased the property in the same LLC Single member Entity as my Agent Income. Since purchasing this property I created another LLC with 2 members, my wife and I. I intend for that LLC to be for my investment properties. I'd like to retitle this property into my Investment LLC which I am being told is a problem because the Investment LLC is not a sole member like the Agent LLC. I even had a Lender tell me that I should start another LLC that I am the sole member of to do a retitle. Just not sure if that is the best decision. I can retitle into my personal name with no issue or excessive transfer tax fees but I'd rather not have the property in my name. I'm still speaking with title companies, lenders etc to try and figure out the best course of action but I wanted to see what you guys thought as well. Thanks in advance for your help.