The great thing about so many artists who are involved in hip-hop is that their entrepreneurial spirit has encompassed many where they can make money despite their craft. Yet, getting into other fields without the proper knowledge can be daunting at times. For Yo Gotti, it almost cost him properties that he bought over the years.
According to HipHopDX, the Memphis rapper born Mario Mims admitted that although he had the actual cash to purchase many homes over the years, due to not knowing, he almost lost 15 homes because he did not pay real estate taxes.
The successful rapper had no clue that when you buy houses, you have to pay property taxes on those houses.
“I didn’t even know you had to pay property taxes on a house that you’d paid cash for,” he said.
But, with gaining the knowledge and the expertise that he learned through what was almost a fatal blunder, we see that he has that same mindset when it comes to his music and business. In a recent interview with GQ magazine, he expressed how involved he is with his record label, CMG (Collective Music Group) and the artists signed to it (GloRilla, EST Gee, Moneybagg Yo, and 42 Dugg).
“I’m involved in every aspect. I try to be involved in everything unless they don’t want me to be involved, in which case I respect that. But when it comes to the album process, the marketing process, I’m in it, I’m 200 percent in it, across the board. I’m trying to help anywhere I’m needed.”
With the mindset of a businessman, we can see how he was able to correct his previous mistake and being able to continue making great business moves to sustain himself.
“I think my biggest attribute is just my hustle. You’re just not going to outwork me. It’s not even good in certain instances—I don’t go to sleep, I stay up longer than I should. When I’m in a campaign and I’m working, sometimes I don’t go to sleep for days because I’m trying to put the plan together. I take it seriously; it’s my passion. I’m also a learner. I believe in change. I’m always looking for what’s new instead of trying to do the same shit over and over again.”
And it looks like that is the reason he was able to save those 15 homes.
Yo Gotti Nearly Lost 15 Homes By Not Paying Property Taxes