Refinancing an LLC-owned property

Generally you have to do a quit claim deed back to your name and then do the financing. Then another quit claim back to your LLC.

I own a few properties and my attorney has advised to simply keep it in my name and use an umbrella liability policy for asset protection. He stated the LLC provides a lot of additional paperwork, cost, and complexity. As you can see with financing, banks generally won't lend to the LLC directly.

Hope that helps.

Tom

You may look at local banks as well.
Small community banks such as "ABC Community Bank" may have commercial loans that will refinance upon the profits of the property not worrying about the ownership.

Will this work for every area? Maybe not. But, if you can find a local bank working on commercial refinances as I mention you may be happy.