INVEST NOW OR WAIT A COUPLE MONTHS??

[Sebastien Beauboeuf]

Hey I'm a new investor in Chicago and had plans of buying my first property this summer. I've already started walking properties and I'm looking for a house hack opportunity on the north side of the city. The Coronavirus has caused the economy to enter a bear market and have many investors predicting a recession this summer or fall. I've been hearing about a recession the past 4 years and I didn't plan on waiting for one to start investing. But with things being the way they are right now and all signs pointing to a down turn (businesses closing, people already losing jobs, feds lowering rates to zero, feds quantitative easing, people having to stay home for who knows how long, etc.), is waiting a couple months the better decision to make? I have an emergency fund + reno budget and I'm only buying if the property cash flows (maybe not while i live in it because prices are so high on the North side, but definitely when it's fully rented). So what I'm really wondering is if I should wait 2-6 months in case property prices drop and buy cheaper. Curious to see what everyone thinks. Thanks