Have funds, but need advice

[Rey Gonzalez]

New investor here. I am in the process of finishing my basement to rent out, which I guess is one way to house hack, but I am looking to do more. I have available funds (150k-200k), and I'm spending time analyzing deals, but recently I was discouraged. I reached out to an investor in my area and he flat out told me that I shouldn't be investing right now. He said that it is definitely as seller's market and everything is selling pretty high. It really burst my bubble. Is he right? Should I wait until the market corrects? I just don't want to make a mistake when I'm at the beginning of my REI career.

Just for reference, I live in a university town and want to use the BRRRR method to improve a SFR with a possible 2nd unit in the basement. Also looking for a small MF, but the inventory is very low right now. Any advice would be greatly appreciated.