Thoughts about current Real estate market for first time investor

[Benny Dong]

Hi BP fam!

So I'm brand new to the REI game and I'm excited to get started with my first property but was hoping to get some opinions/advice regarding the current market. I've been listening to podcasts, reading books, and doing research for the past year now but I'm the type to learn as I do. I'm currently a Registered Nurse in San Diego, California and this las year I've been saving up capital to put on a down payment. With how the market is now, I'm thinking of focusing more on Cashflow instead of appreciation since housing inventory is so low and prices are so high. Because of that, I don't want to invest in SD or California in general.

I know there's always deals out there if you look hard enough but because of my job, I'm considering turnkey properties that can allow me to get in the "game" but also be somewhat hands off. Memphis is currently my top prospect for turnkey properties that the house value stays pretty steady as far as appreciation and gives a good cashflow for rental properties. 

My biggest thing right now is:

1. Should I just be more patient and see what happens with the housing market especially since prices are so high and inventory is low?

2. Get into the market as soon as I see a good deal since its about the time in the market and not to focus on timing the market?

I know the questions are pretty generic and many are going to have a different opinion but I would love a little advice from more experienced investors here on BP and what they would do in my shoes! 

Also my favorite turnkey investment companies so far in Memphis are: TurnkeyInvest (FoundationPM, REInation, and MidSouthHomebuyers). if you have worked with them or know anyone that has, please don't hesitate to reach out about your experience! Also if you have other companies, feel free to drop them below!