Sorry about being unclear. All good questions.
Part of the reason that I worded it (poorly?) the way I did has to do with my own strategy. I can definitely see how it would make a big difference for others. I get the same poll answer whether I use equity or total values. We're at over 50% total extractable RE equity now (including primary residence), so my poll answer is 81% RE counting equity in rentals (without primary res.) or 87% RE counting current value (including primary). I know that I have a bigger than average RE portfolio, and a smaller than average brokerage/IRA component. Hence the reason I'm curious if there are more people out there like me, tapping the leverage that I've already got (that's probably not the correct term) in my RE portfolio.
Thanks sol, for responding to the question in both ways.
I guess my motivation in asking is to see how much others are relying on their RE portfolio. Another way to ask: if everyone on this thread retired today, is your current RE portfolio going to be a significant factor to get you to (and through) retirement (taking full advantage of the leverage), if you'd continue paying the mortgage as you have it currently financed (changing nothing). Is it sustainable now?
It's the way that we 50-somethings think. Or, I suppose, anyone trying to figure out if they might be pretty close to FIRE. Another question for those who'd like to chime in, do you plan to be a landlord in retirement? Or is real estate just a way to get to FIRE quickly, then diversify as needed, like arebelspy plans to do?
So yes, total property market value does become important if you do hypothetically pay off your mortgages 10-15-20+ years into the future. Then after payoff, of course you have a more significant NOI, higher cash flow, and/or if you sell the building, you could walk away with that amount-of-cash. And yes, you could possibly earn more by keeping the loan and investing cash otherwise. That's, I suppose, what I meant by 'minimum' net worth. I'm talking buy and long-term hold. You already are in a position to own the building outright- please consider the leverage.
Yes, arebelspy, you're right, any calculator would totally work. Cash flow is income. Just takes a tad more brain engagement. But as you might have noticed (from the Betterment vs Vanguard thread), I like having the friendly user interface for such things where I can manipulate and monitor the effects of altering different element of my portfolio already pre-labeled. That's all any 'calculator' is, right?
I hope this clears things up, but I'm posting this reply while mildly intoxicated, so no guarantees! Sorry if I'm rambling. Or less than efficient in my use of wording
;-)