LiveFromLondon
Superstar
Misconception
T Pain Blows Through 40 Million
- Thread starter Big Boss
- Start date
True. Surprised he was so open about it.
I look at these rappers and singers and it's the same thing, man. Outside of Drake/Cole/Kendrick, just about all these dudes are going to be broke and desperate in a few years. They're burning money faster than they're bringing it in, and if they're investing it's in dumb shyt. And nobody is helping them. Not family, not friends, and CERTAINLY not the label. There's less money in music rn than there was when T-Pain started winning, so imagine how much harder these current dudes are gonna crash...
The great thing about rap/singer/sports money is you get a lot in lump sums (assuming you're successful). All these dudes gotta do is do the most basic investments and they'll be set for life. He says he had 40mil in the bank at one point. Nevermind that the FDIC only guarantees $250k lmao. See why that's stupid?
Put half that into an index fund and leave it alone. By the time you're not hot anymore as an artist or retire as an athlete, you'll be set for life (assuming you aren't stupid). If you want to invest in real estate, focus on rental properties. "Flipping houses" is all the rage but that shyt is hit or miss, and the market gets wiped out by recessions. You know what stays firm? Rental properties. You buy a duplex or 4 room place, hire someone to manage it (ie collect rent, handle repairs, etc) and you're good. The money won't be insane...but it's steady cash flow...which is what you should want. Once you got that shyt locked in and figure everything out...buy another. Then another. Keep going until you feel like you're at a good amount.
I know a dude who just sold all his rental properties within the last couple years. Older black dude...at one point he had nearly 30 rental properties. The hassle was too much for him, since he did everything himself (including repairs) instead of hiring out. He's a quiet millionaire. Imagine if you started doing that in your 30s or 30s, before "retiring" in your late 60s like he did. Insane money...
I always said if I had millions, I would play it safe and continue with my index fund investments. Just investing more obviously. Boring predictable and safe.
Sbp
Superstar
shyt you're right Mt gox was the first spot you could get a whole lot if I remember correctly. Fukked up I wasn't paying attention to crypto like that back then.its crazy to think about that. but I don't think there was even 1 million in existence like that back in 2011... definitely not 1 million available to purchase easily on an exchange like today. people were able to mine them on their home PCs back then. now you need a warehouse
His manager sounds like a coli breh. A lot of you nikkas on here always tell us how easy it would be to flip property and turn $40K into $2M in 6 months
It is, if that's what you are trying to do
clearly T Pain was scammed, the said he was going to buy some real estate and he did, he just brought some cheap properties and stole the rest for his money lmao
If you got cash, all you gotta do is go to auction and pay the back taxes on houses that were seized by the government and you got easy turn key properties
he could got that a crib like bird man that big ass house, he didn't even owe a million in taxes, he could got that house free and in the clear just by paying the taxes at the auction
That's the problem with nikkaz they want a easy mode, they want everything to be easy
ain't nothing in life easy
you gotta learn what you are doing, if you don't know shyt about real estate how do you expect to make money in real estate
He could took real estate classes online for 50 bucks lmao
shyt was painful to watch and his uncomfortable laughs made it almost even sadder but I don’t feel bad for his dumb ass. He will NEVER have a run like he had when he was popping and he’d better be eating off of his publishing and writing for some of these trap R&B singers.
MajesticLion
Veteran
Age doesn't matter here as much as having no support structure. With no safety net, you can't afford mistakes. It takes waaaaaay longer to recover, if you ever do.
Smarten up.
Smarten up.
If you gave me 40mil and told me to spend it all I wouldn't have a clue where to start. But thats just me.
Exactly. Even if I googled the Gulfstream headquarters there is no way I’d show up and ask for a fukking plane. Would cop a house/whip, make sure the fam is good and bank the rest. fukk at I gonna do with jewels and a damn Bugatti that I can’t drive anywhere in this city. You see what happened to Tracy Morgan in his Bugatti
How does he have $40M in his bank tho 
ORDER_66
I am The Wrench in all your plans....
$40 million blown...
People work all of their lives never seen that amount before they die and people just blow it all away... instead of reading a book on learning to invest...
it pisses me off every time I see stories like this.
People work all of their lives never seen that amount before they die and people just blow it all away... instead of reading a book on learning to invest... it pisses me off every time I see stories like this.
BrehMan
Old Avi from :hamster:
Blame it on the alcohol for going broke. I wonder what he did with all the top hats he bought
That Bugatti blew a nice hole in his pocket from the purchase price down to the maintance and insurance
