TK Kirkland on Diddy Taking $100M 2nd Mortgage on His Homes to Allegedly Pay for Lawyers (Part 10)
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Published 2024-05-10
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Diddy is alleged to have taken a $100M second mortgage on his homes to prepare for legal defense following the FBI raid on his properties. TK Kirkland recalled his past interactions with Diddy as hosting some of the best parties in the 90s. However, he now views it as "the downfall of one of the greats." As well as the apparent mortgage, Diddy has sold his network Revolt, which Vlad suggests again points towards raising funds for legal costs. Kirkland and Vlad go on to discuss the mechanics of equity and loans, with Vlad explaining that a person can take a loan against the value of their home, essentially becoming a second mortgage.
All Comments (21)
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A GOOD LAWYER KNOWS THE LAW...... A GREAT LAWYER KNOWS THE JUDGE..... FACTS🫡
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TK: I study finance; what’s equity? 💀 my maaaaan
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TQ - I study finance TQ - Explain what equity mean
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TK looks old and young
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When trying to talk smart but dumb at the same time 😂😂😂
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Diddy did not take a ''$100M 2nd Mortgage''. He has taken 8 separate mortgages, totalling $100M, first one in 2003 and last one in 2021.
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TK trying to educate people on real estate when he didn't even know what equity meant is funny
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Casually calling a party a “freak off” is nasty work
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TK was in the hospital when Diddy was born
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"I study finance" "what's equity?" 😂
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Man how he get this far without knowing what equity is
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Lawyers, pay-offs, backup money for an escape plan ..
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arrest people for having seggs? what did he exactly do? if you don’t like somebody, stop engaging with them.
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Vlad just had to tell us he owns his house outright and that it’s worth a few mill 😂
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One thing about Vlad , he knows his financial literacy & real estate.
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For TK to always feel the need to say he’s 65 and so wise to not know what equity is says a lot😂🤣😂
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TK- Equity is if you buy a house for $300K, and 2 years later your house is now valued at $500k. That means you can now take out a loan for the $200k, but will still have to pay that back. Now if you decide to sell the house that you paid $300k for and the value after 2 years is $500K, now the $200k is your profit and you do not have to pay that back.
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As a mortgage broker. At 100 million typically the max loan amount is 60% to 75 % of the value. However the owner retains ownership (the deed) of the property.
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He ain’t losing with that much money on lawyers😂😂
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Glad pocket watching as usual!
