BRRRR paid off is it a cash-out or just a refinance?

[Joseph Hummel]

I'm just about done with my first BRRRR

I purchased it with HELOC attached to another property so there was never a mortgage on the property.

To get a mortgage on it so I can access the equity what are my options? 

I've heard you can essentially sell it to yourself to access 100% if you use an LLC (if the LLC owned it), but I think I would have had to place it into the LLC awhile ago which I did not, correct?

Thanks

[David M Trapani]

As others mention here, it's a cash-out refinance. If it's an investment property, i.e. you don't live in any of the units, likely limited to 75%-80% LTV. The beautiful part? That's all tax-free cash to you as you own this property free & clear. Great for shoring up reserves, paying down any high interest credit and/or acquiring more well-located income property