Would appreciate help reviewing net worth calculations

[Ashley C.]

Hi all! I'm diving deep into my education and realize I've got a mental block in regards to wealth. Mindset. I've don't feel low income, but I guess that's where I am - my freedom number is $2k/month. My financial set point is very low, I'm working on getting a bigger vision, but I'm struggling. Because, long term standard of living and, well, math. I'm trying to drill it into my head that it doesn't take thousands of doors and decades of time to significantly change your financial future. I mean, I know that's true in general but for me specifically, meh. Mindset, right? Here's my attempt at what it would take to have $1M net worth from real estate. I'm fiscally conservative. Am I working the numbers right?

Assumptions: 50/50 partner who gets half of everything; 75% leveraged; 25% equity; 20-unit mom and pops.

PORTFOLIO EQUITY

per 1M asset = $250K equity or $125K equity/partner; need $8M portfolio to have $1M equity stake.

$ TAKEN AT REFI

Purchase: $650/door/20 doors; GROSS $156K; expenses 55% leaves $70,200 NOI / 8% cap = $877,500

Forced appreciation: $700/door/20 doors GROSS $168K; expenses 55% leaves 75,600 NOI / 8% cap = $945,000

Take out $67,500 at refi; $33,750 per partner x 9 buildings = $303,750

($1M assets = @ 9 buildings purchased at $877,500)

CASH FLOW $100/DOOR FOR 180 DOORS (20 doors/9 bldgs)

$100/door/180 doors x 12 months = $216K or $108K/partner per year