If you are a handy person or willing to learn, flipping a property might be a good investment for you. What’s even better is having a partner to help you, specifically a contractor or someone who possesses the skills you lack.
Flipping a property does involve risk because it is difficult to predict all the work that needs to be done and to accurately price it. Also, the longer repairs take, the longer you may lose on your investment unless you are able and willing to live in the condo or house while it is being fixed up.
That being said, the real estate markets can change, so you might decide to buy a property, hold onto it, and then resell it when the market is in your favour. In the meantime, you can rent the property, earn passive income, and benefit from the increase in your property’s value when you do decide to sell at a later time.
For more about flipping vs. holding a property, check out this article from Investopedia, “Should You Buy and Hold Real Estate or Flip Properties?” By Robert Stammers.