Changing plan from 100% debt free?

[Keith Robinson]

I am very intrigued by rental real estate.  I have been for years.  Like many renters I have talked to, I have said to myself “I should own this place and let people pay me”.

Fast forward and I have purchased a house for my family with the plan to pay it off ASAP.  With my accelerated plan I should be done/debt free in less than 8 years. I plan to buy 1-10 rentals/doors after I have my primary paid off.  It is a very slow plan but the risk is minimized and the Tortoise beats the Hare.

Now I am actively researching buying rentals (Buy and Hold).  I read Building Wealth One House at a Time by Schuab.  I got a huge amount of information and tips from this.  It is a strategy that I could use and adapt.  It covered many topics and food for thought.  I also just finished reading the Ultimate Beginners Guide which I printed out and wrote notes all over.  I have listened to the first 100 Podcasts (skipping some).

Here is the current dilemma.  Do I stick with the plan where I do not make a purchase for approx. 10 years (ish) or do I start looking into lending and have renters pay down the rentals for me?  I know at the end of the day I have to make the decision and both strategies would work.  I am looking forward to being on the forums and hearing what different strategies others have used or if anyone has a good article or blog to read.  It seems like my current plan is in the minority.

Have you used the 100% down strategy? And has it worked?