7 years to 7 figures ignoring debt?

[Matthew Brand]

I'm trying to understand the 7 years to 7 figures doc (https://bp-v-newproduction.s3.amazonaws.com/upload...) and I'm a bit confused how the equity is being utilized. Specifically, in year 5 when you're trading up to the apartment complex, he says you have $175k in equity, which is true. However, you also have $173,400 in debt. So, your net is less than $2k. Don't you need to pay back those loans once you sell the other units?