Over the past 27 years there have been some trials and tribulations however, Khalid Rashid started off managing property in 1987. There was a problem though, his first purchase was a real disaster! The tenants vandalised it to the extent that he ended up selling the property below the mortgage amount. The insurers refused to pay the all the damages due to a ‘malicious damage clause’ in the insurance policy. Once sold, Khalid could not even pay the property auctioneer, but he was very understanding and eventually settled the fee.
Following a knock on confidence and the property crash in 1989, mortgage interest rates hit the roof at 16% plus! Along the way Khalid Rashid lost a few houses to the bank, and was close to losing everything. At this point Khalid made a huge decision to re-focus and start again.
In the 1990s Khalid Rashid went to university and studied for a postgraduate degree in Businesses Studies with the Open University. I qualified five years later with an MBA. In late 2002, I registered with the Royal Institution of Chartered Surveyors, and re-enrolled at University again to get the property-related diploma which allowed me to take the professional interview with the RICS Panel in which I duly passed.
Since then I have been in involved in valuing properties and acting as property auctioneer for banks, building societies and private clients and in touch with you.