TK Kirkland on Diddy Taking $100M 2nd Mortgage on His Homes to Allegedly Pay for Lawyers (Part 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.
A GOOD LAWYER KNOWS THE LAW...... A GREAT LAWYER KNOWS THE JUDGE..... FACTS🫡
My husband lawyer won his case cause he knew the law, and the jury's sided with the lawyer
@kanyegang2810 Drunk stops and parking lot tickets don't count .....
@@williamhodges3941 They have a point though… when it’s a jury involved, knowing the judge can only do so much (sentence leniency?)
A great lawyer knows who to pay off.
I had a lawyer he OD'd but Damn he was good. Stayed coked up but the day he got me out, He had everyone laughing and the judge. I remember he told the worse judge" We'll talk about that later" They eventually blackballed him and the drugs won. Norman Usiak was his name. Got me outta 16 months for $200 👍. Legend💯
TK: I study finance; what’s equity? 💀 my maaaaan
IKR, lol. He totally threw me off with that one 😂
100!!
😂😂😂
HYSTERICAL
Do we not study to learn?
TQ - I study finance TQ - Explain what equity mean
TK always been a lie hahh
🤣🤣🤣🤣🤣🤣🤣🤣
I'm hurtin'🤣
He asked a question. That’s literally studying finance. Like literally smh
TK looks old and young
Him being in his early 60's that's a good thing
he looks perfect to be in his early 60’s lol ijs .
He sounds that way too.
😂
He was born Old. Now he's grown into his looks.
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.
What he had for dinner yesterday?
@@Destroyer-Grizzly-BIH😂😂😂
@Destroyer-Grizzly-BIH @ Something a personal chef 👩🍳 would prepared for Diddy & his crew ❤
I'm thinking why do these folks with money have mortgages? Can't they just buy it outright and be done with it??
U da mfn G.O.A.T😂🤣🤣🤣😭😭😭
When trying to talk smart but dumb at the same time 😂😂😂
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.
Pretty sure it was multiple smaller loans on several properties, not one $100M house
@@treedillinger5801 Absolutely
@@davidthomas8113 (and obviously that doesn’t change anything about your original point)
I was thinking the max you can borrow is 80% not the full value.
TK trying to educate people on real estate when he didn't even know what equity meant is funny
But he didn’t mind being educated on what he didn’t know
@@seeitoldu1, dummm
@@NoLineNoWait123AbC tf does that mean?
😂😂😂
😂😂😂😂😂😂😂😂
Casually calling a party a “freak off” is nasty work
A freak off like freak nik?
TK was in the hospital when Diddy was born
"I study finance" "what's equity?" 😂
😅😂😂
💀
arrest people for having seggs? what did he exactly do? if you don’t like somebody, stop engaging with them.
I love how you address this topic with such honesty.
Man how he get this far without knowing what equity is
That must mean he doesn't own a house and never planned to 😂😂😂😂
Why would he need to know what equity is.
I didn't know comedians needed to know what equity is in order to make it far.
Shocking ain't it
@@markwall8245 Dude the word equity is just another synonym for value and worth. He's like 60 years old and he has never understood what having equity in a house means. Bruh that is embarrassing. Equity is what your home is worth vs what you owe the bank . Who doesn't know that .
Vlad just had to tell us he owns his house outright and that it’s worth a few mill 😂
He always said he didn't believe in owning until he did a bunch of interviews with real estate inverters. He would say owning was dumb because he owns stocks. Notice he never said he was wrong
He may own the house outright, but he owes money for the cost of the house from wherever he got it from.
@@MultiMilTown not owning land and real estate is dumb. A diverse portfolio that has both is the way to build wealth. Vlad is just an obnoxious know it all.
@@realitsgazYeah, for real. Dismissing real estate ownership outright while flexing one's portfolio is odd and stupid.
Who gives a F*CK
Lawyers, pay-offs, backup money for an escape plan ..
One thing about Vlad , he knows his financial literacy & real estate.
Yea hes a jew
How tf you know 😂?? You couldn’t even type that sentence without having to retype
@@user-xc3yb1vk2e because ya mother told me when she invited me over for dinner.
@@MrUnpredictable187 Did she also tell you to like you own comments so people will think they agree with you like a elementary school kid 😂😂😂😂😂
@@user-xc3yb1vk2e no she told me how good she sucks dick & how you sit in your room all day doing nothing she tries to get you out of the house, but you don’t have no friends or you get no pussy
The Didler bout to flee the country
My thoughts exactly 💯💯💯
The problem is we're do you hide when your so famous?
Facts! 💯He ready to run!
That’s what Russel Simmons did
Him and Russell can be neighbors in Bali.
TK has obviously never owned a house 😮😮😮😮
For sure, he had no clue. At least his he wasn’t too proud to admit it though and show his lack of knowledge.
It's still some real shit to want to be educated about things when most people would have an ego about it and pretend they already knew all of that only after someone just explained it to them.
@@TheRealTommyR He could have found this out on Google
@@citypopradioFM All he had to do was Google for the information. That would have been a better look🤡🤡🤡
TK has owned homes before, do you know how many people just apply for the loan, make the payments, and don't explore any other options for their property? The same with how people make t he default payment amounts for insurance instead of negotiating terms
He ain’t losing with that much money on lawyers😂😂
Whether he’s guilty or not, my grandfather told me a long time ago, it’s a court for the rich and a court for the poor. SMH…
You never been to the Federal penitentiary obviously
If the feds come, it’s money wasted.
Federal buddy not state
Look at the feds hit rates... lil bro, live some life before you just start typing shit
Equity is if you bought your house for $500,000 ten years ago and the current market value of your home is $1 million dollars you have $500K in equity. If you have a mortgage and you still owe $250K you have $250K in equity. The second mortgage is you taking a loan with interest on it. You are using your equity to get cash basically.
This isn’t accurate. For the first sentence/statement, assuming the house is fully paid off (principal and interest), and the current market value is $1M, you have $1M in equity. Think of equity as synonymous with how much ownership you have of an asset.
If the house was only partially paid off, you would subtract the amount of principal you still owe from that $1M market value, and that would be your equity. Basically how much money you would make after selling the house and paying the bank the rest of what you owed it (the unpaid principal balance).
@@thoyo Exactly
@@thoyo We know what he meant
Diddy pulling that money just in case he needs to pull a Russel simmons
Is Russell ever coming back to the States?
@@ALo-yv2pjI doubt it
"Damn what did that nigga do....?" - Thugnificent
Yes
Love your unique style, never change!
This gentleman is in his 60’s and some consider him a comedy legend but he doesn’t understand what equity is. That says a lot!
He's never owned a home
Yea most entertainers are uneducated
For TK to always feel the need to say he’s 65 and so wise to not know what equity is says a lot😂🤣😂
You 😂 says alot also
Awesome ! It’s great that man can ask educated questions ! Very rare man .
Vlad stuntin lol. TK being 80 years old and don’t know what equity is?that is crazy
I just watched New Jersey Drive for the first time in years this morning. I never realized it was TK was in the movie playing poker with Midget's brothers l. I was buggin. 😂😂😂😂
Glad pocket watching as usual!
Who would want vlad at a "Freak Off"
Lol
😂😂😂😂
Nobody lol
Pr*stitutes/S*X workers.. Great business party for them lol 🤷🏾♂️
That would be a very effective form of birth control. No one would be in the mood with him in the room
The way TK says 12 and 20 😂
I just finally learned this house thing. I was like tk Kirkland
😂😂😂
Good knowledge i didnt know this either gonna pass this info to my son
I think TK did it on purpose
Ok I googled it and Vlad is misleading. Puffy has 8 total loans out for a total of 140 million (like TK said) he's paid off 42.5 million of those loans and owes a total of 97.5 million. None of these mortgages had anything to do with taking them out for lawyer fees as he's had these loans for years on his houses, almost a decade.
Vlad wants to make himself bigger than Diddy
He is misconstruing information and forming conjectures for sensationalism , thats what main stream media outlets do , its called propaganda. No one knows what Diddy is up to or even if any of those allegations are even true, none of it has been proven in a court with hard tangible evidence . Theres lots of people who wanna see that man down to the ground , so low from the time he breaths and opens his mouth , he's smelling and tasting dirt.
Damn. Hearing someone say “I remember it was in nineteen” makes me feel old as hell!
Real estate you didn’t even know what equity is at 65 that’s crazy
Crazy indeed! An average adult knows what equity is , he never owned anything of value or he just incompetent. Either way thats wild!
Good move on Diddy part. If his loan to value is < 50%-60% on that property and mortgage rates are lower than his return on that borrowed funds - he's up!
Up? He’s gonna spend all the money on lawyers, even if he wins, and end up losing the properties.
@@treedillinger5801yeah he’s up. He started as an intern working for 0 pay. Now he’s in the millions.
Great finance tips something positive came out of this 💯 thank you Vlad thank you T.K
Ask questions don’t worry about embarrassment.
Not in this case. That’s embarrassing 😬
Both definitely true. Off camera would have been better
One thing about TK is that he know how to make the people who want to feel smart, feel smart. That man know what equity is.
Diddy took out enough money to be able to pretend he went to prison 💀
Thanks for explaining equity
Duffy bout to jump ships like Russel Simmons..watch.. 😂
Interesting, all this time over the years TK have been giving knowledge in life's travels and to see him not understand the equity in a home concept is astonishing. !!!
Why does Vlad have to explain what equity means to a 65-plus-year-old man? It is so sad to watch. How do you own property and not know how financing said property works?
The Hotel TK was speaking about was the Swiss Hotel.
Lol! Omg! In several videos from the past, TK "CLAIMS" that he is a homeowner, and that he has a house in Las Vegas. So, for the life of me, I can't understand why he doesn't know what equity is! Over here crying!!!! 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
There is no grand jury involved with a judicial search warrant. 😂
TK asking all the right questions
I thought TK would have understood equity already, but I’m glad he wasn’t too proud to ask.
Off camera would’ve been better.
@@kford6643 It was good for people who just knod their head and pretend to know because they’re too proud to ask…
TK really thinks a bank will just *give* you money because you own your house?? 🤯
TK is entertaining but he’s not that bright.
@@Sreed8392 I like the guy, I’m not hating. But he comes on here to spit “wisdom”… and we get stuff like this…or robbing Eddie Murphy… or just a few months ago finding a gun in his rental car and throwing it in the river…
@@treedillinger5801 I like him too but TK’s “wisdom” is for mostly dumb ppl who lack basic common sense. He only sounds smart to mostly dumb ppl.
why wouldnt they?
@@cilvaxd951 *give* you understand?… as a gift. Not a loan.
For whatever reason Vlad is really at his best when interviewing TK. I don’t know if it’s their chemistry or what. But he doesn’t interrupt like he can do with other guests. The conversation flows smoothly. He should be like this all the time.
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.
Diddy will get that Wesley Snipes bid then secretly get released in the middle of the morning 3 weeks in
Equity includes the value of the home vs what u owe. The less u owe, the more equity u have. If u owe $0, the equity is the principal amt PLUS the difference of what the property is worth today.
When he had a questions about equity, I clicked out. I cannot believe he asked that question. I don't know rather to be frustrated, mad, or sad.
Good class ❤
Good job Vlad. You went from renting your place and avoiding buying real estate like the plague, to owning your house outright. Lol
TK exposes himself every interview with Vlad. The mere fact that he didn’t know what equity is and how it works tells me he knows little to nothing about nor does he study finance as much as he would have you to believe he does. TK may not even own a home of his own to be honest because knowing what equity is is basic finance/home ownership 101 but he was completely dumbfounded by Vlad’s explanation.
he probably doesn't have nearly as much as he thinks he has
@@ducklife420 clearly
That’s some expensive SEGX.
T.K stole his credit card information 😢
folk said a wholesome party lol
That’s some expensive segs.
This man just learned what equity is....
YO! TK! Pick up a calculator,if u have a house and it’s worth $5.00 and u owe the bank $2.59 how much do u have in Equity?
According to TK: the bank will just *give* you $2.41 …you can keep that. 🤔🤯
TK got diamonds , but don't own a house.. He had no idea home equity means..😂😂
These questions about equity and real estate should be for teenagers. The fact this 60 year old tk doesn’t know this stuff is shocking and unfortunate
4:08 it’s once you pay back more then what’s owed your no the head share holder of the property and now in a bracket of asset value based on modifications to the property which in turn boost return value
Portland, JAMAICA in the Building!!! 🇯🇲🇯🇲🇯🇲🇯🇲🇯🇲🇯🇲
6:03 Drew just got YB a bond when he was already out on Bond🎯
Also, send these two to a class on finance and accounting.
There's a flood in Brazil.
What ethnicity are you?
Do you think it's due to cloud seeding from the Government?
@@SDG70Nope , the city was built next to a river , also is rainy season (La niña )
@@ChristophSanAndreas …I’m gonna guess Afro-Brazilian…
@@treedillinger5801 I was thinking the same thing
I do respect TK he's always taking us to school
4:39💡TK about to take out a 2nd mortgage😂😂😂
If I’m not charged…. And I take out $100 million from my equity and they give it to me.. I’m out of here !! I’m Moving to Bali and right next door to Russell Simmons 🥴 if you’re not charged, technically their shouldn’t be a hold on your passport😬😬
Equity simply means you owe less than your property is worth. All this pontificating bs is what confuses people lol.
TK better keep studying finance 101 😂
He said i want people to understand this..TK you don't understand lol
I rocks with TK and I respect the fact that he admitted that he didn't know how equity truly works. I takes a mature man to admit that and be willing to listen to understand what's being said instead of pretending like he knew. Hey, we all can't be perfect and know everything that's what friends are for. No ego, just understanding.
He didn’t explain the payback portion of a home equity loan… You always have to pay it back, even if you owe nothing on your house
So basically a LOAN
💯 exactly
Keeping his fee a secret guarentees control of his reported income to the IRS. You don't usually see lawyers operating like that , even they understand that the average person isn't gonna gamble their freedom and money on someone's track record instead of assurances and personal guarentees and pay a winners fee upfront with no guarantee you'll win. A full upfront payment for a case that hasn't even started will take away the incentive to fight because ether way it goes your paid already
Number is the number. Business is business.
How does TK not know this? With all the money he has made. He doesn't understand equity? He has to be trolling.
Nah he ain’t trolling. TK just isn’t that bright.
@@Sreed8392 lol
Who wanna hear this right now like seriously about mortgage😢
TK always dope
Vlad you intreview yourself for 3 hours🤣🤣
Equity... = Credit!!!!!
IS THAT A GOATEE BEARD 😂
TK has been a Criminal All his life... that's why he didn't Understand what Equity was at 63.... 🤣🤣🤣
Why Vlad interrupts his guests
No bank is going to give you 100% of the equity!
Wow!! This dude is shuck 60 years old and didn’t understand what home equity is. 😱😱😱😱😱😱
This man is too old to not understand home ownership.
...but yet
Please talk about when you got hit in the back of your head with a lead pipe.
Tk bout to take out a loan asap 😂
TK: I study a lot of finance. Actually it seems like you didn't study much.
Equity is simply property profit lmao
The mortgage represents the debt and the deed represents the equity.
It’s not profit, it’s just the % of the value that you have no loans on. The house can be worth the same or less than you bought it for, so there’s no profit. Profit is the amount over everything you’ve put into it, at the time of a sale.
@@treedillinger5801 100%
He must of knew that video was coming out
Equity is if you buy a house for 1m (and in time) it goes up in value to 1.2 million...When u sell the house for 1.2 million the bank just wants the original loan amount back of 1m....and you can keep the 200k in your pocket
Equity = net ownership