Does 1mil in net with make you a "millionaire"

[Derrick W.]

This should be a fun topic. For arguments sake lets say.... You have 1 mil net worth in rentals. Positive cash flow. Let's say it's all financed through the bank with 20% down on each.  That makes 20% of it your cash and the rest debt. Are you a millionaire?

[JD Martin]

You don't have 1 mil in net worth, you have 1 mil in gross value. You have 200k in net worth based on what you have posted, assuming you have no other assets. Using your example, you need 5 mil in real estate to have 1 mil in net worth. And of course that is a moving target, depending on what the market looks like when you sell.