Birdman is being forced to give up his Miami mansion.
According to The Blast, the Cash Money head honcho is losing his house after welching on a loan. The gossip website reports that the financially troubled label head and rapper has to turn over his 7-bed, 11-bath home immediately.
The 20k sq. ft. house was put up as collateral for a loan he took out with a company called EMG Transfer Agent. The company fronted the Big Tymer $12 million, and they’re coming for the house now that he’s defaulted on the loan.
Birdman bought the house in 2012 for a cool $14.5 million and put it back on the market in June for $20 million, eventually dropping the price down to $16 million. It’s possible that the rapper was trying to get rid of the home before it was taken from him by the courts, but the agent representing the property offered another explanation.
“The rapper is looking to downsize,” Brett Harris told The Real Deal. “It’s too much home for him,” he said. “We’re actively pursuing other properties [in South Florida] for him now.”
According to The Blast, a court-appointed representative will take over the house and the house is not allowed to be sold until the legal case is over.
Enemies All Around
Famous friends have spoken out on Birdman’s money mismanagement. Lil Wayne, of course, repeatedly trashed his one-time mentor after Birdman shorted him several million dollars and kept his new albums in legal limbo.
But even people who weren’t directly tied up in Birdman’s business dealings took a moment to talk bad about the way that Birdman treated his friends and associates.
Rick Ross laid into Birdman repeatedly on the track “Idols Become Rivals” and further elaborated how poorly he viewed the mogul in a spoken outro.
“Can’t believe this s**t, homie. Still love you, n**ga. But how the f**k you touch half a billion, n**ga, and your team starving, n**ga?” he said. “I let you in my city, n**ga. What hurt me most is how you did my brother Khaled, n**ga. Khaled was loyal to you, n**ga…. You put my n**ga in a hole, homie. I don’t feel you for that.”
What Do You Think?
Ross also took a second to send out an alert about Birdman’s house hitting the market, both out of sheer pettiness and a desire to see people who Birdman owes get their money. He said that Mack Maine and Lil Wayne could forget about seeing a dollar over a shot of a headline about Birdman defaulting on the loan.
Birdman has fired back on all the talk, sharing a nasty rant on social media:
“B**ch, Lil Wayne my son. I raised him. He ain’t have nothing. I brought him to be something and got something. B**ch, you don’t think I’m gonna make sure he straight? Suck a n***a d**k, B***h, And if you cross my line, you already know — I ain’t even got to tell you. You know what type of n***a I am and how I live. F**k you, n***a. Tear you’re a*s up playing with me and mine. F**k these old coward a*s, scary a*s n***as playing. They ain’t no gangstas — they don’t wanna see no murder. So you p***y a*s n****s, stick to what you do, blood. Because y’all ain’t about this s**t at all.”
What do you think? Is Birdman done for? Will Wayne ever remove himself from the situation? Sound off in the comments and be sure to SHARE this article.