Many are buying properties, doing minimal renovations to keep their crews busy, and selling with small or zero profit margins.Cash buyers are a priority.

I was talking to a RE friend.He said it's a bad time to buy* rates are high* homes are expensive in most marketsLooking to hear some counterpoints. 

I am going to buy an apartment in Bali which is in a construction right now and the price is a presale price.

Please see the rough numbers below :Tear down house price 350k,Construction cost 165 sqft * 2 build=627k too much for the land unless your exit is 3 million. don't reinvent the wheel. no single family home builder is paying 300k for land. that's miami florida prices where I live. we buy land 50k and under in Columbus Ohio. keep land at less than 10% of after built value.

So, you are not at limiting your self when buying a new property.

They are not buy and hold forever type properties. 

I still have plenty time left saving but when the time comes I’ll either be looking into conventional  loans, or some type of remodel loan to pay for the repairs of the property I am looking to fix up, because as far as I’ve seen so far it’s hard to find a good deal starting out unless you buy it as discounted as possible and put some sweat equity into it, let me know your thoughts on that ur possible.

I believe he shouldn't have let you buy this building unless you fully knw what you are getting yourself into.

This could work well if you’re looking for steady monthly returns and don’t mind managing tenants (or hiring a property manager).Selling could also make sense if you’d rather use the $500,000 to diversify into other investments, like buying multiple properties or even a short-term rental on the lake as you mentioned.

Just bought my first investment property in LI, looking to buy and learn more!