Im about to buy a Lexus 96' and well the owner told me that it has271,000 miles and the engine was rebuild, would this be a good thing or a bad thing for me to buy it, any advice? he said its highway miles

With that mileage l would pass on buying the car. Even if the engine was rebuilt you need to know that there is still 271K miles on the transmission, drivetrain, wheel bearings, etc. And how many miles have been put on the engine since the rebuild? Probably quite a few. l would avoid it personally. Seems like you may be getting into something risky.

it may be ok l would take it to a auto tech and have them look it over if it is ok then buy it l have seen lexus hold up to the 400000 mile range

l have a '95 lexus w/ 150,000+ miles and it performs superbly. It had been well maintained though and most if not all the maintenance records came with it. One thing l do remember hearing about the early lexus' is that they were designed to be as maintenance free as possible. How true that is l do not know. The guy above that suggests taking it to an auto tech is right on target.