STR Cash out refinance under LLC or individual name

[Chad Rakestraw]

Looking to cash out refi a STR property we have held for almost 6 months. Have a business partner and it seems like the terms we get to put it under our LLC are quite a bit worse than putting it under our individual name. But if we did that, theres also the liability. Any advice or insight is appreciated.

[Bob E.]

@Chad Rakestraw  Sounds like you need to quit claim it to your personal name then do the refinance.  As far a dealing with the liability I would suggest getting a solid excess policy / umbrella coverage.