Word on the street is that allegedly 50 Cent sold his Connecticut mansion to himself!
So here is how the story goes; this mansion has been in the hands of Cartis for 2 decades now or something like that. He bought it at the height of his career for $20 million but market experts were of the argument that it was over priced but since Fif had the bread, he didn’t really care!
But then something happened in Connecticut, prices for properties plummeted and by huge margins leaving 50 Cent between the rock and a hard place in the event he ever wanted to offload the property!
Eventually that day came and 50 Cent put the mansion back in the market for $20 million! But due to the change in the property markets, there was no one willing to part with that kind of money for his overpriced mansion.
50 Cent kept the mansion in the market for a long time, then took it off and kept it in the hopes that the markets would turn and then eventually he would be able to offload it!
But 2019 comes and he still has the mansion in his hands and if you know 50 Cent well, you know he is a businessman who would rather things are going well than things going the wrong way.
Now the reason the streets are calling 50 Cent a genius is because he worked a plan that eventually got him making more money and offsetting his property and even making even more money!
The rapper registered a charity that he uses to donate monies to those in need which is a great thing. But 50 Cent is now being said to have used that charity to sell the mansion whose original price was $20 million to himself for $3 million and donated the entire sum to charity — which charity you make ask? G-Unit charitable organisation!
So according to the streets, the money paying for the mansion came from his pocket at $3 million then because there is no one on the other end receiving the pay legally, he can give it to his charity and indicate it in papers legally because his charity is seperate from his personal property in the eyes of the law!
Then his charity has a mansion that he can also authorise later to sell right back to himself at a lower price than the market price and he is a genius!
But there is more; the rapper will then make tax deduction for the charity contribution as well as take the $17 million loss and deduct it from his taxes and that is how ladies and gentlemen you make more money from thin air!
I mean an offset of $17 million on somebody’s tax numbers is Christmas! And it’s all legal!
I was sort of on the fence with the story until 50 Cent started posting the mansion and flexing on how he had made $3 million out of it for the kids. I was like there is truth in this because I ain’t never seen anybody who sells a house and then posts it to flex with it with his face plastered all over it.
I mean the new owner will be like what are you doing with my property! But because he still is the owner then he can do this kind of stuff! But please note this is just word on the street and it will need Fif to confirm it before you take it as gospel!
Do you believe this story about Fif and do you think this is how it went down? Let us know on the comments down below.