If you thought that the year couldn't get any worse for R&B star Kelly Rowland - you'd be wrong. MediaTakeOut.com spoke with one of Kelly's neighbors in a luxury Miami condominium complex. And according to her, the former Destiny's Child star lost millions of dollars in a real estate investment.
The woman, who purchased a condo in the same building as Kelly Rowland last year, claims that property values in the area are precipitously dropping. The insider told MediaTakeOut.com, "When we bought in this building, it was supposed to be ultra-exclusive ... [The builders] promised us that they would only sell the homes for market value. Now it seems like it was all just a scam."
And the woman claims the downturn in the real estate market has already cost her more $1M. The disgruntled investor explains to MediaTakeOut.com, "I paid more than $2 million for the condo, and [based on] the floor and the size of [Kelly's] unit, I know she paid more than I did." She continues, "A condo exactly like Kelly's is now selling for around $600K at auction."
Kelly had a bad year. She should be glad that it's almost over.
Get off Kelly Back MTO!
*** Kelly...looks like you'll be looking for a "loan" from Bey like Dame did Jay...
Happy Holidays Erryone!
Sh!t happens boo...Buy land and build from the ground up. Now who's gonna pay those Bills Bills Bills?! LMFAO...
Dammmnnnn dammmnnnn Damnnnn!!!!
I hope '08 is a better year for her cause '07 was a ***!
awww. when it rains it pours. next!
Beyonce done put a root on her or something!!! This girl just can't catch a break!!!!
We told you Kelly: Don't drink from the chicken's foot!!! LOL
wowzers thats messed up!
Kelly can't go anywhere but up from here. Keep your head up Kelly.
This poor girl can't seem to catch a break!!
I feel bad for her, i feel like she tries sooo hard. It's the BEYONCE CURSE, Salonges' got it 2!
gOD MUST HAVE SOMETHING REALLY SPECTULAR PREPARED FOR KELLY IN 2008, THIS YEAR HAS BEEN BAD FOR HER BUT IS'T JUST A TEST OF HER FAITH.
She's had bad Karma since she broke off the engagement with the football player - that is IF this story is true.
I'm with soulquarian212 on this one. They must have put a root on her. You know Bey and Tacky Tina got creole blood in them.(lol)
Did she even have millions in the first place? HA HA!!!!!!!!!!! My bad. I couldn't help it.
Sorry Kelly. You'll get it back x3!
Is kelly going to be a fialure at everything?
omg i feel so srry for her its like everything she does SHE FAILS
her album ,the choir thing ,the list goes on.
poor kelly she need Jesus
I agree kelly must realyl have smthing amazing coming for her in 08 cus this year just wasnt her
kelly keep ya head up :]
:p hate typos
***...I saw Kelly on that choir show and she was a stanky hot mess!! She tried to sing B part and it was horrible. Her voice was terrible. I was embarrassed for her. She needs to go and sit down
OH WELL *** HAPPENS!!!
I feel alot more sorry for all the people losing their jobs and getting their homes foreclosed on with nowhere to go a lot more than I feel sorry for Kelly losing some duckets over a bad deal.
Anyone that has or is investing in Real Estate within the past year or two, is " NOT SMART".
Don't worry about it girl!! Borrow the money from Beyonce! Ask her to pay your Bills....
KELLY DONT WORRY ABOUT THE HATERS WHO ARE JEOULOUS CAUSE YOU ARE A DARK SKINNED FEMALE DOING IT BIG. FOR SOME RESON IT SEEMS TO ME BIIIIITCHES THINK LIGHT AND WHITE HOES ARE SUPPOSED TO HAVE IT ALL BUT FUUUUKEM CAUSE YOU ARE STILL BLESSED AND YOU GOT THAT GORGEOUS CHO SKIN
The housing market is really bad right now. *** I should have sold mine 3 years ago when I had it appraised I could have gotten triple the value I paid for it. All she needs to do is keep the property for about 2 more years and she may be able to get more for her buck. hell its still a tax right off so she needs to stop *** about it.
She is not broke she will come out of this ,every month she will receive a royality ck and whatever she is working on now every performance she does she will get pd . My father died 21 yrs ago and my mom still receives royality cks and his grp was not that famous . Trust me on this
LMAO, thats what she gets for being a stuck-up, fake, and wanna be Bey ***!!!
LOL..WHAT A JOKE MTO...SOMEONE THAT LIVES IN A 2 MILLION CONDO WROTE YOUR STAFF.
THE HOUSING MARKET IS AFFECTING EVERYONE, NOT JUST KELLY.
***...I KINDA FEEL BAD...
its real estate it goes down and up
OMG...does everything have to turn into a race thing? Grow up.....So what she dark skinned and broke? Michael Jackson is light and broke...now what? LOLLOLOLOLOLOL
*** SHE CANT WIN FOR LOSING...2007 WAS A REALLY BAD YEAR FOR HER...MAYBE 2008 WILL BE BETTER...
THINGS SHOULD IMPROVE FOR HER THIS 08'....DEFINITELY!!
@ISIS, I must agree, don't feel too bad for Kelly. She may not perform as great as "Bey" but she will be getting paid for a looooooooong time from those royalty checks. She just needs to find herself,she has been under Beyonce's shadow for so long she sings and even tries to dance like Bey. She needs to take time off for self development and come back with her own style. She won't make it as long as her music is an imitation of Destiny Child and Beyonce's style. Not hatin, just my opinion.
Yeah I can see that happening to anyone that made a purchase a few years ago.
I heard that that Miami went over the top with building new condos and the price should be dropping soon and that is what I am waiting for.
I still available Kelly and Beyonce. Get at me.
po baby! i still luv ya kel, even tho ya just cant seem to get it right,....
Lord knows this chick cannot afford to lose a dime...with her TALENTLESS azz...LOL!!!!
Guess what....Real Estate prices are falling every where - NOT JUST IN MIAMI !!!!
A smart INVESTOR knows that an INVESTMENT means
that you hold on to your INVESTMENT until it
makes a profit... Kelly keep you head up!
Afterall, you told us that you were gonna BUMP
like this, RIGHT?
This kind of stuff happens to anyone who invests in real estate. I saw on the news that almost one million homes will go into foreclosure in 2008. She may be rich but there are others who are living well and lost big. She still got god, good health, good looks, a great voice, family & friends. She'll be fine!
well, any intelligent/informed investor should know that the real estate market is at a low right now... now is NOT the time to invest in real estate... dagggg Kelly, you didn't know that???
it's supposed to jump back up around 2009, so just stick with it til then... and pray for a miracle lol
That's pretty *** up, if this is true MTO:)!!!
The market is lagging everywhere...she ain't the only one!!!
Holla at your GIRL!!!
She can comeback from this I for one still think she has talent & will son have a beakthrough hit. At least she is getting something back off the deal.
i luv u kel kel
Nooo! Say it aint so! I wish I had millions to lose...NEXT!
@ ceazia08-beautiful baby!
New Year's Resolution Kelly: Step up your game and for God's sake, GET YOUR SH-T TOGETHER!
I really hate this for her, but she always seem to bounce back. I really want things to work for her....
Let's see if Beyonce tries to help her out
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people lost money on investments every day..so dont feel bad for her..like Beyonce is losing money over that disaster of a clothing line that her momma is trying to have her ***..anyway Kelly will be rich until the day she dies because shes getting plenty of royalty checks..she can afford to play around in the market a little..thats why its a risk because there are no guarantees, its all about taking chances..anyway like someone said earlier, we should feel back for working class people who cant afford their mortgage and have their homes forclosed..Kelly has about 5 different houses to lay her head at ***
People make bad investments everyday....She is no different!
Poor Kelly. Girlie can't catch a break!!
i don't know what is worst her singing career or her investment choices. my boy does real estate down there i should hook her up with him
she still rich even if she lost money. She should be loaded from her hair care endorsements and DC.
I pray for Kelly hopefully 08 will be better. Keep ya head up girl
KELLY KEEP YO HEAD UP-----DO SOME RESEARCH ---ASK B CAN YOU HAVE A MEETING WIT JAY-Z AND DO WHAT HE DOES------ HE DOES NOT LOOSE -----
I FEEL SO SORRY FOR HER :( POOR GIRL
She has the worst luck. I think she is fantastic. Hopefully she will rebound and come back stronger.
***, poor kelly.
2007 just wasn't her year.
i wish all the best for her in 2008 and beyond.
on the bright side at least her hair is lookin right.
Who's to say she still has that DC money? And who's to say alot of people are still buying DC's CDs? I know she hasn't made much from her solo albums so right about now she is probably depending on that Dark & Lovely check. And she's done a little bit of acting but they weren't any big roles.
I DIDN'T KNOW SHE HAD MONEY LIKE THAT ANYWAY. BUT I DO FEEL SORRY FOR HER THOUGH.
Kelly was lookin SOOO finger-lickin GOOD on that Clash of the Choirs show. This bad news makes me sad for her!
Donald Trump has losts millions more in investment deals. You win some you lose some.
Many of us can't even turn a profit on our own poor little ole single family homes right now. The market is crappy for us all.
A million is nothing to Kelly she still cashing checks from Destiny's Child!
uh,oh...hope she has other investments,besides her music to back her up.. she seems like a nice girl..wish her the best
Dag Kelly, I keep ya head up sis, its hard out here for an entertainer these days.
what up sexy Veet!!!
Kelly will eventually get it together. It comes a time in err'body life where it seems like nothing is going right, and the world is against you, but just pray for that girl she'll make it.
WHO IS THIS "DISGRUNTLED INVESOR?"
And, why ain't her name mentioned in the story???
Sorry y'all....We don't buy it.
No pun intended.
Things happen kelly will be ok how U doin elsofocused
KELLY GET IT RITE GIRL....
Yall so *** dramatic, the real estate market sucks everywhere....the property value will go back up
One thing about having real estate...as long as you own it.... you are in the game. So as long as Kelly made a cash investment and owns her condo she can rent it out or anything to make money on it. It can be a Tax write off. Now if she sells at the discounted price, which I don't think she has to ..She will lose......
come on people kelly still has millions in the bank from destiny's child
this girl will always be rich no matter how much she looses beside shes got beyonce next to her
well this next year would be kelly's biggest year for sure
new album, tour, movies maybe so yeah im pretty sure she will bounce back faster than a basketball
Lemme guess...... IT'S ALL BEYONCE'S FAULT!!!
It's sad, But it's happening to so many people that wanted to get into the real estate business. Alot of people was investing in tropical areas (I.E. San Diego, CA and Miami, Fl). But since the real estate is so shaky right now in those particular places, the prices went up sky high (as well as the foreclosure rate with people getting property with an adjustable mortgage rate). And the prices fell just as soon as it went up. Therefore thousands of investors and builders were out millions of dollars. Miami, Florida is the number 1 place to NOT invest in right now.
thats f ucked up
that girl going to be just fine . wait to her new cd drop. mmmm ***
ya'll goin get da fu*k off my kelly im tired of ya'll puttin this *** ish in here about her...show me the proof not jus ish ya'll say ya'll hear then put a story in cuz...makin ish up...my ni*ga please...you aint signin no checks like her...my ni*ga please...i love you kelz...
This is not a big deal MTO. We all have lost money in this real estate game. Houses have not increased much in value in over 2 years. Everyone that has property knows that. And yall made it sound like she lost $10M or more. A couple hundred thousand or a $1M is a drop in the bucket. Kelly got plenty of money. Don't sleep.
She needs to just give up a become a backup dancer/singer for beyonce
A *** shame maybe big sis Beyonce will help her out.
maybe she should invest in something more lucrative instead of real estate since its not that steady nowadays...
you know, maybe some stocks
maybe some blasses on how to stop kissing beyonce's ***.
someone said on one of these posts to stop putting up pics of your ***...i wish some people would take down pics of their scary faces. lawd mi god!
You know the market is bad ok...but I don't give a *** if she lost 5million she is still sitting lovely! Destiny's Child (the brand it was) made a lot of *** money so she ain't broke MTO! Your spellcheck is broke, freddy's ego is broke, he's a broke back mountain candidate but Kelly....trust...she ain't broke!
If this is true she needs to kick her business handlers' ***....and she needs to get herself educated about economics & real estate. They knew good and well that the real estate market was tanking and that she needed to unload over-valued property asap.
Kelly is gorgeous!!!
***, poor woman...At least she still sexy...
*Let me sing 4 u*
bigswole: you think everyone is gorgeous.
theres a joke in there
its like waldo, can you find it.
@ladytee35- All she needs to do is keep the property for about 2 more years and she may be able to get more for her buck. hell its still a tax right off so she needs to stop *** about it.
I really don't think the housing market will strengthen anytime soon. Since the banks were given out loans like "govt. cheese" the prices were "over" inflated like %60 to %80, but since the loans have pretty much stalled no one will sell another piece of poperty for profit until they go back down to realistic prices.
If the above story is true, it obvious there is a MAJOR problem with the market if the price went for ^$2mil to v$600k.
And the tax write off thing sounds good but it's not as great all the time. Let's say your mortgage is about $1,500 per month & your property taxes is about $5k a year. You have to pay a mortgage of $17k total plus $5k in taxes thats a total of $22k a year just to get a write off. Or, you can rent an apartment at $1,000 per month ($12,000 per year) with no property taxes and save $10k per year. Put it in a money market, and let it ride for a few years, stack yo cheese. Sometimes it's better to rent that to buy and right now is that time.
It's always *** up when you lose money. However, Kelly is a multi millionaire & that amount will not break her in anyway.
Anddddd... ROTFLMAO @ (as one poster put it on another thread) TERM PAPER SUBMISSIONS :-) Anti Intellect... LOL... geesh!!
U soo *** stupid. But if thats really your picture ummm.....im really feeling that BACKVIEW HUN ;)
I feel for Kelly. Hope the coming year will be a less more stabile.
hello? she said "600K at an AUCTION". that's not the same as the real price. if kelly's property isn't being auctioned off then that isn't an issue. and that doesn't constitute losing "millions" either.
yall believe anything. if kelly still resides in the condo, it's really not a big deal. she can sell the condo for what she wants. it may take a while due to the housing market as a whole, but she hasn't lost a thing if she still owns it.