50 Cent Sells MansionYou've heard of his music and you've heard about his entrepreneurial skills. 50 Cent (a.k.a. Curtis Jackson) has been trying to sell his mansion in Farmington, Connecticut which he bought from Mike Tyson's ex-wife for 4.1 million. According to AOL Real Estate, he invested another $6 million renovating the property. The rapper has been trying to sell the mansion since 2007. He was asking $18.5 million for it. In 2009, 50 Cent settled a lawsuit against an engineering firm which he hired to inspect the huge mansion before purchasing it. 50 Cent claims the engineering firm underestimated the repairs needed for the property. The mansion was listed at $14.5 million and was then pulled off the market. At that point, 50 Cent listed the house with another agent for the asking price of $10.9 million.
We're now in 2011 and the rapper has yet again slashed the price of his stunning mansion. Let's not forget that we're talking about a property that has 52 rooms and sits on 17 acres of land. The new listing for the mansion is portrayed with better pictures and better lighting. These pictures show everything including the grand home theater, billiards room and nightclub with a lighted dance floor, bar and DJ area according to Luxist.com. You can also find an indoor pool, gym, a basketball court, a racket ball court and more. The asking price was dropped to $9,999,999. Any buyers?
The housing market is very low right now, and those that are selling their properties are probably doing so due to financial hardship. Now we're not saying that 50 Cent is having money issues, that's not likely, but if he's selling this mansion since 2007 and repeatedly slashing the price time after time, then maybe this mansion is more of a money pit than anything else. We're in a buyer's market and the time to buy is now. Mortgage rates are low and there are many down payment assistance programs available.
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