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Real Estate Broker

Joined 03/04/2008

Brecht Palombo

President

Provest Real Estate, Tranzon Auction Properties

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(781) 570-9507

I’ve lived in and around the Boston area most of my life. I also lived in Boulder Colorado and San Francisco California, each for a brief period.

View Brecht Palombo's profile on LinkedInThe first business I ever owned I bought at 15 years old with a friend of mine. It was a bike shop called Spoke & Chain. We bought it for $3,000. In our third year we grossed almost $50k. I’ve been a serial entrepreneur since the womb. My father will tell you my favorite IBM PC Jr. game at 9 years old was Wall Street, a stock picking simulator.

PROVEST: Real Estate Brokerage in Boston, Middlesex County, Massachusetts I attended both the University of Colorado at Boulder and University of Massachusetts in Boston. In the midst of taking a seemingly endless variety of classes Al Gore invented the internet and I really got the bug. My entrepreneurial bent just couldn’t leave it alone. Two problems I had though were I had no money and from a technical perspective I was a complete hack. I did find, however, that I could talk and that I was absolutely determined. I bought myself a suit and began my sales career.

Brecht and Becky in Vail ColoradoA few years later after earning hundreds-of-thousands of pre-IPO shares in a variety of companies that would prove to be internet flops, I decided to get into something more concrete. I had always had a passion for property, space… and for making money and moreover for figuring out processes that make money - so began my investment real estate brokerage career.

During the boom I made most of my money working with developers helping them to find, fix, and flip properties. Sometime in the middle of this I was reminded of the froth that I saw during the “Internet Bubble” and in anticipation of the coming burst I pursued my auctioneer’s license.Madeleine

Today I specialize in working with high net-worth independent real estate investors. Programs I offer include acquisition, disposition, and specialized retirement services. Additionally I represent Tranzon Auction Properties, the nation’s largest real estate auction company, throughout southern New England.

I live in Melrose Massachusetts with my wife Becky and my daughter Madeleine. When I’m not working I take Madeleine to swim class, I mountain bike, snowboard, x-country ski, and occasionally run with my dog Ted. If I’m not doing that I might sit around and geek-out with Open Source software.

My Groups

My Comments

  • Its true bank owned property
    By Brecht PalomboJune 5, 2008 - 4:35am

    Its true bank owned property is a pain to sell and a much bigger pain to list, skinny margins, calls to India... but your headline is inaccurate and your position that there are no bargains is incorrect. One of the things I specialize in is working with distressed property and the investors I work with do very well because they're properly coached and advised though what can be a trying investment process. The winners of this episode will be those who saw the freight train coming and prepared by broadening of refocusing their business, by readying cash for investment, or by patiently waiting through the this past boom. Rents are going up prices are coming down and and an educated investor can do very well. Your words are those of someone who has been slogging it out in the brokerage trenches in a crazy market and I empathize. Make no mistake there is plenty of money to be made out there and there are those of us who are profiting right now. Brecht Palombo Auctioneer Investment Sales Broker MA, CT, NH http://www.provestre.com http://www.tranzonap.com http://www.tranzon.com

  • This is so true, and as I
    By Brecht PalomboMay 12, 2008 - 6:02am

    This is so true, and as I read the various bleeding heart clueless commentaries out there this is a breath of fresh air. Orderly liquidation is exactly what what we need. In Massachusetts there are a handful of initiatives afoot to "save" people from foreclosure. One initiative that actually does make some sense to me is the "just cause eviction" effort that I'm starting to hear about. This would prevent lenders from evicting renters from dwellings that have been foreclosed on, through no fault of their own, if they've paid their rent on time and have behaved as good tenants. This makes sense because this moves us towards orderly liquidation. In MA very often the foreclosure auction is used as technical legal procedure, not a sales effort. This results in banks buying back most of the inventory and then putting it in the (very long) REO disposition queue.The new law, proposed above, would force lenders in many cases to skip the REO step and sell at the auction or else become landlords, a task for which they are not equipped. Thanks for speaking the truth Brecht Palombo Auctioneer Investment Sales Broker MA, CT, NH http://www.provestre.com http://www.tranzonap.com

  • I disagree that debtors
    By Brecht PalomboMay 1, 2008 - 6:33am

    I disagree that debtors should have won this one. At a time like this it is essential that lenders keep on lending. Forced loan modifications would not be good for the economy, the buying public, home sellers, or any of us not going bankrupt. Too much intervention would essentially pull the e-brake on an already skidding economy. Most people who are being foreclosed on or going bankrupt are doing so because of their own missteps, contrary to what much of the media would have you believe. There are many, many people who are going to have to suffer through some difficult circumstances before we get to the other side of this crisis. This is unfortunate but it is necessary to properly recover. Too much intervention will prolong this pain and indeed cause more of it by further constricting mortgage lending. This was a bad idea and rightfully defeated. Brecht Palombo Auctioneer Investment Sales Broker MA, CT, NH http://www.provestre.com http://www.tranzonap.com

Friends

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