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Lessons learned from home flippers

Investors shouldn’t count on fast home price appreciation

Lex Levinrad is getting phone calls.

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Lex Levinrad is getting phone calls. More than he can handle. His Deerfield Beach-based Distressed Real Estate Institute is flooded with requests these days from regular people — teachers, plumbers, paint salesmen — who want to invest in South Florida real estate now that home prices are rising.
Many who attend his monthly seminars around the area are learning the art of “flipping” — buying properties at deep discount, fixing them up and reselling within a few months to traditional buyers.
Levinrad, 46, a South African native who says he’s bought and sold more than 500 homes, shows aspiring investors how to do the math and where to find the deals.
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