News that “Dilemma” rapper Nelly’s mansion has been abandoned has led to speculation over his finances.
Nelly, real name Cornell Iral Haynes Jr., is the singer and rapper responsible for some of the ’00s greatest hits such as “Ride Wit Me” and “Hot In Herre.”
This February 2021, news broke that Nelly is selling his unfinished Missouri mansion for $599,000.
So, why did Nelly abandon his mansion?
Nelly purchases Missouri mansion
In 2002, Nelly purchased the mansion in Wildwood, Missouri. It was reported that he had bought the property with the intention of remodelling and then flipping it with a contractor friend.
The “Tuscan-style” estate offers six bedrooms and 6.5 bathrooms, sitting on nearly 11,000 square feet and twelve acres.
The property was last on the market for $2.5 million, which is the amount Nelly could have paid for it, as the most recent buyer.
So, a price drop from $2,500,000 to $599,000 over 19 years doesn’t look too good a reflection on Nelly’s real estate know-how.
Why did Nelly abandon his mansion?
Nelly has not released any statement about why he decided to abandon his Missouri mansion project.
He is currently based in Calabasas, California – the home to many A-List celebrities – with his girlfriend Shantel Jackson. The couple have been together since 2014.
It is likely that Nelly ditched the Missouri mansion as the property had taken too long to renovate and was costing him more money than it had the potential to make. One realtor estimated that the cost to complete the mansion would be between $500,000 and $1 million.
If Nelly and Shantel are happy in Calabasas, who knows why they would continue to spend the time and money on the Missouri mansion!
Nelly’s bankruptcy history
This is not the first instance where Nelly’s finances have been examined by the public.
In 2016, it was revealed that Nelly owed over $2 million in taxes to the IRS and $149,511 in unpaid state taxes. This meant that the IRS could start seizing his assets.
To combat Nelly’s financial troubles, his fandom came to the rescue. The hashtags “#HotInHerreStreamingParty” and “#SaveNelly” started trending on Twitter. Streams of “Hot in Herre” went up by 90% a week after the news broke.