Welcome to our new blog series, Rescue my Pension interviews.
This exciting addition to our blog will record interviews with people engaged in or involved with, the property investment industry. They will offer up a wealth of knowledge so you can learn from their success and mistakes.
First up is our very own Robert Bence
Who are you and what do you do?
I’m Robert Bence a property investor and the founder of Rescue my Pension; you can read more about our services here.
I am also a proud father, adventurer and book worm. I am less than a week away from heading to the Alps to climb Mont Blanc and often I’m found reading my way through several books at any one time. You can follow me on Twitter @RobBence or connect with me on LinkedIn.
For how long have you been investing in property?
I have been working in property investment for over seven years and have been investing for nearly as long. As I am sure most people will know the last seven years have been more than eventful in property investment.
How did you get started in Property Investment?
By default, I rented out the first property I bought to live in. Many people start out investing this way and then afterwards experience a ‘light bulb’ moment and think why don’t I do more of this?
How has your strategy developed as an investor?
At first I didn’t have a strategy at all but I wanted to become more structured in how I approached property investment. Strategy setting is now a passion of mine and over the years I’ve been able to help hundreds of investors to develop their strategy.
What’s your biggest regret as an investor?
I don’t have regrets, just lessons learned; fortunately I can now pass on those lessons to investors at Rescue my Pension
Why do you invest in property?
It gives me and my family financial security through the rental returns I receive. Property investment will finance my retirement and I am already well placed for early retirement if I choose to take it.
How do you build on your knowledge?
By reading books and blogs, by talking to other investors on a daily basis, and by keeping up with all the latest developments and research. The person who thinks he knows it all is the biggest fool. So even though I have been involved in the property investment industry for over seven years I will learn something new almost every day.
What’s the best investment you have made?
It’s hard to pick out any one investment; all the investments I have made in the last 2-3 years have been really strong.
What’s the worst investment you have ever made?
I bought off plan from a company I can’t mention here for legal reasons and they have failed to deliver the property. I hope to make a fresh start with them but who knows what will happen. I also bought a villa in Cyprus at the top of the market but the deal collapsed last minute. Nobody predicted the property crash in Greece and Cyprus but it happened and many good people had their fingers burnt. I was very lucky.
What advice would you give to a new investor?
Don’t jump in head first, take time to focus on what you want from your portfolio long term. Once you have a financial goal work on a strategy to make sure you get there. If you are looking to get rich quick avoid property and try the lottery.
Finally if you were a property what type of property would you be?
I would be thatched cottage, solid, lots of character, a bit traditional but has been around for a long time