First time rental property buyer question on timing a buy

[Pratik Jagad]

Hello Community,

I am a first time rental property buyer looking to buy property in Atlanta area. I recently heard a podcast episode on BiggerPockets (

) that talked about how there is frenzy with real estate buying due to low interest rates coupled by the fact that the mortgage forbearance is restricting supply to the market as potential sellers are holding on. There is also some talk about the rental prices going down as supply increases in the market post forbearance period. I am trying to understand what this all means for a first time buyer like me. Should I wait out for sometime or take the plunge (assuming whatever I buy still holds to the basic fundamentals)? I understand that no one can accurately predict future and we are in unprecedented times. My main concern is overpaying in the current sellers market while waiting for a bit of cooling down could open better opportunities in terms of options to buy as well as price. My second concern is additional supply opening up in the rental market driving down prices and the rental economics not working. Any insight would be deeply appreciated.