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If you are trying to build good credit and be financially smart, Slim Thug has a story for you. The Houston rhymer wrote a cautionary piece for the New York Times of a situation that led him down the path of financial problems.
In his story, Thug details his plan to sell his five-bedroom house in order to buy another home under the short-sale assistance program initiated by the Obama Administration. The “Like a Boss” rhymer hired a real estate agent, who was a woman, to assist him. Unexpectedly, their relationship went from business to romance.
After a couple of years, things went sour when Thug and the relator’s love affair ended in bitter fashion.
“I ended up in foreclosure. So not only did I lose out on money from a potential sale, but I ruined my credit as well,” he writes. “I’ve suffered financially from not being able to do business in my own name and probably lost around $200,000 directly and indirectly through my mistake.”
This life lesson has helped Slim Thug be more professional when it comes to his business. “This is one of the many mistakes that led me to talking more about money as part of my work,” he states. “It’s 2015, and my credit still isn’t the same. Neither is my net worth, but the lesson I learned is certainly priceless.”
Peep game and read his entire article here.
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