Brecht Palombo

FREE List of Bank Owned Multi-families and investment properties

Brecht Palombo
President, Principal Broker, Auctioneer MA, NH, CT

Our Mission
PROVEST is all about advising and servicing the independent investor. As values skyrocketed in the Northeast over the last half-dozen years it quickly became evident to me that there really weren't any real estate offices that were very well suited to serving the independent investor. The big commercial firms don't pay too much attention to you if your property is less than $5Million and local residential Realtors simply are not equipped to advise investment property owners as the landscape has become increasingly more complex.

I really let Frank down.
A few years ago before I started PROVEST I had a situation where I really let my client down. I don't think Frank knows it today because the fact is there just isn't very much information out there for guys like Frank. Frank was a WWII vet and immediately after he returned from the war he moved back to his hometown of Somerville, MA and bought himself and his family a 3-family. Frank paid $13,000 for his property. The property served him well over the years and he never moved out of it. It was the jewel of the neighborhood. This property also represented the bulk of Frank's wealth. He had of course a small pension and social security but in terms of amassed wealth it sat right here in this 3 unit multifamily.Frank responded to a letter I sent him and I sold this property for $840,000 - this was a record price for a property of this type at that time.

Golden Handcuffs
Having lived in 1/3 of the property with his wife that 1/3 or $277,200 was shielded from taxes. The horrific part of this transaction was that the remainder, was entirely subject to capital gains and recapture. Frank ended up paying more than $120,000 in taxes, more than twice as much as he had ever even made in a year. I decided after that transaction that I wasn't going to operate like your typical broker anymore. My mission would be become to learn all that I could about maximizing values and wealth protection in the area of investment property.

More wealth in real estate now than ever
Right now the largest segment of the population of the United States is barreling towards retirement. A huge portion of this population has not saved enough to maintain their current lifestyle. At the same time rapid appreciation in real estate over a number of years has created a tremendous amount of wealth that is locked up in real estate. We specialize in unlocking and protecting that wealth.

No matter where you are in your investment career
Today we serve independent investors throughout their investment property career whether you own 3 units or 300 units we're equipped to guide you through the next step. From the day you buy your first bank owned multifamily through the day that you exchange that and until the day that you liquidate your portfolio and put all of your hard-earned equity to work we have a program and a plan to maximize your investment dollars.

Nobody specializes in the small investor like we do.

PROVEST Real Estate - Real estate investment advisory services for the independent investor