Chamillionaire’s home in Houston was recently repossessed by the bank. The rapper told TMZ.com that he allowed the 7,583 sq. foot mansion to be taken because the recent housing downturn made the home a bad business investment. Chamillionaire, whose real name is Hakeem Seriki, purchased the house in 2006 for around $2 million.
“I was always on the road touring” the rapper said. “I just didn’t feel like it was a good business investment to pay that much mortgage for a house I was never at.”
Chamillionaire claims he is doing well financially: “I still got all the cars.”
Hog Wash. Come on now Chamillionare. A bad business investment. So it’s a better business investment to go into foreclosure. Come on now. Sell it and cut your losses for that matter. It does not make any sense as to his claims. Who cares about the cars. Again, when is our Black community gone realize that a better investment for financial gain is a HOUSE/PROPERTY and not a car. The value of that car will go down yearly while the value of a house, even in this ecomony, will go up. We talkin about better investments right????