Could birdman be broke?

[dagoon121]

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Birdman Defaults On $12 Million Loan, Could Lose Miami Mansion
The 9-bedroom, 17-bath mansion was once owned by producer Scott Storch.

Written By D.L. Chandler
Posted 9 hours ago

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Birdman‘s financial issues have come to the forefront once again, this after reports that he defaulted on a $12 million loan he obtained in 2015. Because of this, the Cash Money mogul might lose his lavish Miami mansion in the process.

The Blast reported that Birdman received a loan from EMG Transfer Agent according to documents obtained by the outlet. The mansion, purchased in 2012 for $14.5 million, was previously owned by producer Scott Storch and put up as collateral.

The Blast writes:

According to court documents obtained by The Blast, Birdman borrowed the $12 mil in 2015 from a company called EMG Transfer Agent. The rapper put up his Miami mansion — the one he bought in 2012 for $14.5 million — as collateral for the loan.

But Birdman defaulted on the loan and EMG wants the house foreclosed on so they can get their money. They are looking for their $12 mil plus interest and late charges.

The 9-bedroom, 17-bath mansion — which was once owned by producer Scott Storch — has 225-foot ceilings and features a below ground pool, outdoor pool with cabana, a movie theater, gym, spa, an in-house massage room, 100 feet of waterfront and a private dock.

The outlet adds that Birdman put the home on the market for $20 million but dropped it down to $16.9 million in November.

Looks like Lil Wayne might have to wait longer to get his bread, no?

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Photo: Getty

BIRDMAN , MIAMI , NEWSLETTER

 

[Shadow22]

If he pawned that jewelry and the car he could buy that crib.

 

[Better]

It is hard to believe he is at first, but it ain't hard to believe when you think about it.

Extravagant spending + downward turn in revenue, and you could eventually have money issues.

...and, of course, by broke - we're saying his networth is exceeded by his debt.

 

[A to Dah K]

Thats sad if tru.He has had serious money run through his hands during his lifetime

 

[bgbtylvr]

Gold-plated Tic Tacs

 

[therealjondoe]

How if he's eating off drake and nicki

 

[dotcomdon]

If he pawned that jewelry and the car he could buy that crib.

If the jewelery was actually real

 

[dagoon121]

How if he's eating off drake and nicki

Yea he also showered them with gifts and took private jets around the world
His expenses was above his means

 

[Database Error]

 

[Ill Paragraph]

Peace,

I hope it’s not true. I hate to see a black person lose it all.

 

[Pipe]

That mansion is cursed.

 

[THE DRIZZY]

I am sure the people he swindled over the years have 0 fucks to give.

 

[BronxBomber]

If the jewelery was actually real

And who is gonna buy it at real value? I mean who with money wants it?

 

[Dr. Truth]

300 million wasted on perntless shit

 

[Diomedes3000]

All these dudes are fronting Baby ain't had no hot acts in a minute. If he's balling why take out a loan that is loser shit. The end is coming for that dude. That lavish shit is overrated. He been needed to tone down his lifestyle.

 

[furlough]

naw op, you just hatin' on da five star general plei-boi

 

[HotNixon36]

All these dudes are fronting Baby ain't had no hot acts in a minute. If he's balling why take out a loan that is loser shit. The end is coming for that dude. That lavish shit is overrated. He been needed to tone down his lifestyle.

 

[Dirtylakerie]

I guess this means Carter 5 coming soon.

 

[Complex]

How if he's eating off drake and nicki

And what about that unheard of deal he supposedly had with Universal?

Something ain't adding up

 

[Hey Julian!]

“I ain’t paying dem
bills no mo’.”

 

[Better]

1. Lifestyle(Extravagant)
2. Taxes
3. Profit split(Brother is partner)
4. Court settlements

I'm privileged to be in a few 'new money' circles in Charlotte and Houston, and it is truly insane the way some people spend money. Making 2m a year, for instance, and traveling with a dozen people every weekend for super-expensive weekends - leave Friday night, back in Sunday evening - and may have spent 40k to 60k in that two day span.

I can only imagine what people who've had Birdman money do.

 

[Shadow22]

Yea he also showered them with gifts and took private jets around the world
His expenses was above his means

So he did what u trying to do?


U still bothering folk at Teterboro trying to use an airplane hanger for your low budget rap vid?

U still pushing that 300 c Amg Ma Dukes edition with the v 12 in her trunk?

 

[Shadow22]

All these dudes are fronting Baby ain't had no hot acts in a minute. If he's balling why take out a loan that is loser shit. The end is coming for that dude. That lavish shit is overrated. He been needed to tone down his lifestyle.

Lavish living ain't never been overrated. I know families who own sports teams.

If living well off was overrated in America paintings wouldn't go for 30 million, McLaren, Porsche, G650 private planes wouldn't be within use.

Its overrated for the faux woke folk and broke mofos trying to impress other broke mofos at the club. If u buy a coupe for yaself and u can afford it do u.

 

[Non-StopJFK2TAB]

Lavish living ain't never been overrated. I know families who own sports teams.

If living well off was overrated in America paintings wouldn't go for 30 million, McLaren, Porsche, G650 private planes wouldn't be within use.

Its overrated for the faux woke folk and broke mofos trying to impress other broke mofos at the club. If u buy a coupe for yaself and u can afford it do u.

Lol

 

[4 Dimensional]

So is he finished or he is done?

 

[Complex]

So is he finished or he is done?

 

[lightbright]

" As if I gave a shit......got my own
finances to worry about!!!"

.
​

 

[killagram]

Well...the fat ladi is warming up...my miami plugs tell me the problem is...he not welcome in Miami no mo..his life is in danger in that city..brah

 

[deputy dawg]

Put some RESPECK on that lis pendens!

 

[Coldchi]

nigga be droppin all that cash on money and cars, but when it comes to houses, this nigga taking out loans.

 

[Flawless]

someone will say these rich people defaulting on their loans and filling bankruptcy are playing chess

 

[tallblacknyc]

Well...the fat ladi is warming up...my miami plugs tell me the problem is...he not welcome in Miami no mo..his life is in danger in that city..brah

 

[A to Dah K]

nigga be droppin all that cash on money and cars, but when it comes to houses, this nigga taking out loans.

He used the house as collateral for a personal loan.
Which he still (assuming)shouldn't have to

 

[godofwine]

Peace,

I hope it’s not true. I hate to see a black person lose it all.

I hate to see a black person lose it all as well, but this dude is a pure-T asshole. I don't feel as nonchalant about the issue as I would if one of those coon Republicans went broke, but I can give two shits about Birdman

 

[BAG]

Well, how could he be broke according to officer Ricky all that jewellery is fake all the cars are rented and every hit he had he didn't pay the producer, so he should be winning and gets to fuck Toni Braxton after a day of scamming everyone.... right out the puffy playbook of fuckin over your artist