Should i invest or wait for inventory to improve?

[Usman Chaudhary]

I am rookie investor in the Naperville area. I want to invest in more rental properties but these days the inventory is very low and whatever comes to the market is being over bid on, so should i 

1. Look at other areas in the Chicagoland area for suitable investments. If yes then which ones?

2. Wait until the mortgage moratorium is lifted so the inventory is improved and keep increasing the cash savings in the mean time?

3. There are some opportunities in Chicago city these days but I am not sure how the rental future is there because of the flight towards the suburbs.

Appreciate the help.

[John Warren]

@Usman Chaudhary other markets in the US are experiencing the same low supply we are here in Chicago. I have been in your shoes, and I would focus on saving a high percentage of your income while you keep analyzing deals. One will show up and you want to be prepared financially and mentally when it does.