Multi-Million Dollar producer Scott Storch loses his house to foreclosure!!!??? How does this keep happening? How can we, as Hiphoppas, see artist like MC Hammer lose their butts because of poor money management skills and still keep ending up in the poor house? I mean, was I the only one to read Donald Passman's book, "All You Need To Know About The Music Business"?
Click on the link below to read the full Scott Storch story:
Will Hollywood end up homeless? Another celebrity foreclosure - WalletPop
Honestly, I can't say what this man is going through. We've all been through rough times. I know I've had my share.
I just wanna know, "What da hell was on his mind?!?!". Damn, this man was at one time worth over $70 million dollars and he bought a home worth $10 million with a mortgage on it. That's just bad math. Even worse is that he didn't buy it straight out or get such a ridiculously low payment he could have maintained off of royalties alone. That's making your music work for you.
For those who don't know who Scott Storch is, here is a link to his discography of production credits:
Scott Storch discography - Wikipedia, the free encyclopedia
What producer wouldn't want to have a catalog like this? As I read some of these songs and artist names, I just feel like something must've really went wrong is this dude's life. I hope he bounces back because he's a dope producer and he knows how to make hits.
Bottom line: Manage your money and cover your ass(ets). I hope this isn't another story of how people around him mismanaged his money because if it is, even Gary Coleman could've told him to watch out for that a long time ago.
Let's Make It Happen!!!
Mello Melanin, The Hot Instrumentalist