New Construction Apartment Cash Out Refi

[Wade Stahle]

Im wanting to know if someone has ever built a new construction apartment complex and cashed out their initial investment at the end if the loan to value worked out. Is this possible? 

Say the construction costs $1mil and 25% down is needed. If it appraises at much higher can you recoup your initial 25% down and just have a higher principal?

[Greg Downey]

@Wade Stahle. This may be eligibale for agency loans which can go up to 80% LTV. That is always the best case scenario. I would expect 70-75% LTV. You could crunch the numbers from there to see if you money could come back out.