MediaTakeOut.com is hearing some VERY serious rumblings that rapper 50 Cent is under some financial strain over his Connecticut mansion.
You see, 50 bought the 50,000 square foot mansion from Mike Tyson in 2003 for $4 million. He then put in a reported $10 million in renovations. And then two years ago he put it on the market for $14 million.
It now seems like 50 made a VERY BAD decision pricing it the way it did. Because after it being on the market for nearly two years, Fif was forced to take it off. Why – you ask? Because nobody wanted it for that price.
Here’s how one local real estate broker put it:
"The house is not worth $1 over $5 million," said Prudential Premier Homes agent Rob Giuffria. "Celebrities often overvalue a house, so they keep dropping in price. That home in that location is not worth anywhere near $14 million, and it will never sell for that, no matter how long you leave it on the market."
And now it looks like 50’s trying to get money from anywhere he can. According to legal documents, 50 Cent says he hired a firm to inspect Mike’s old mansion in 2003. He says he assumed the company's estimate of $500,000 in repairs was "a legitimate assessment" of what the repairs would cost. But Fif ended up spending about $6 million with this developer in repairs.
In response, MediaTakeOut.com learned that the firm is claiming that 50 Cent wanted "extravagant and costly upgrades." Some of the upgrades included an on-site stripper club, and a state of the art gun range.
Now we ain’t saying that Fif is going broke … but … could this have anything to do with Ciara Lambo allegedly getting repo’d. We’re just saying…
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