Beginner investor interested in apartment investing

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Hi all! I'm interested in investing in apartments. I currently have a single family townhouse as rental property in Colorado. I currently live in Houston, TX. Is it better to invest in apartment complexes or anything more than 6 units with another investor or is it more than possible to do it solo?  I don't have much money saved for investing, but I've been reading/hearing about investors not having any money and doing this.  Just wanting some advise from other seasoned investors. Thanks!

Also, I don't mind buying in Colorado even though I live in Texas. I find that everything is expensive in Houston!

[Jay DeCima]

Elise

I just post the below to another newbie.  Hope it helps.

Post:

I like all kinds of real estate and have bought most of them. But I have to suggest, if you are beginning, that you seriously put monthly cash flow up front. It is not fun to take money out of your paycheck to pay for a negative cash flow home that MAY go up in value SOMEDAY.

My biggest success over the years (investing in Northern California) came from buying GROUPS (5-8 houses) of older homes on a single parcel, in older, blue collar parts of town (not slums). Because banks will not finance these types of properties, 90% of the time I got seller financing (on over 250+ rental homes I had at my high point). The seller knew he/she would be taking back the financing. I did not have to talk them into it. My down payments usually were around 10%.

There are several blogs on my website that may benefit you. If you are interested go to the my website listed in my BP profile, go to top right search box and type in "BUSINESS". You can also scroll down to "CATEGORIES" and choose from various subjects.

also started a BP post and will be posting on these type subjects probably weekly. 

Here is the BP link: https://www.biggerpockets.com/blogs/8579/50694-8-r...

Good luck.

Fixer Jay DeCima