Updated over 6 years ago on . Most recent reply
Am I still an accredited investor?
In the back of my mind I think to myself, I have 1.4 million.
But using the accounting equation, when I look at the 1.6 million in real estate I currently still own and take the 700K in equity and 700K in cash I'm left with 200K in debt. So on paper I have a -200K net worth, no?
Of course I could pay all but one of them off and sell that one I can't currently pay off all the way and be "millionaire" again when using the accounting equation.
Just seems weird to me that it's calculated like this even for real estate.