Lil Kim | House Tour | $2.3 Million New Jersey House & Bankruptcy

Lil Kim is widely regarded as one of the most successful and talented female rappers of all time. After breaking out in the 90's and early 2000's, Kim's legacy continues to live on to this very day, inspiring other female rappers like Nicki Minaj, Megan Thee Stallion and Cardi B to name a few. With a legacy like that, you might expect Lil Kim to be one of the most wealthy and financially stable artists in the game. But the truth of the matter is, according to recent reports, shes anything but. While the internet seems torn on her overall net worth, most outlets point it to being in the vicinity of only $500,000. Considering this, instead of looking at a bunch of mansions Lil Kim has owned, were going to focus this video on her main home in New Jersey. In these videos we don't reveal any addresses, and even though I've done a house tour of my own place, please do not show up at any private residences because it's not safe for anyone. At one time, this founding member of rap group Junior Mafia blew up as a solo artist and was worth millions despite having dropped out of high school as a kid and spending some time living on the streets. After meeting Christopher Wallace, aka Biggie, Kim struck up a romantic relationship with the rapper and found herself right in the rap scene. She was drawn even further in after dropping her debut album Hardcore, which went double platinum. At that point in time, the world was Lil Kim's oyster. Her two subsequent releases, The Notorious Kim and La Bella Mafia also went platinum. There was nowhere else for Lil Kim to go but even further up, right? Hold that thought. In June of 2018, Lil Kim filed for bankruptcy in the state of New Jersey, which is where her 6,000 square foot home is located, in the city of Alpine. At the time, she reportedly owed $1.5 million in back taxes to the federal government, and over $660K in late mortgage payments. Yikes. Eventually, the government threatened to put her home up for auction, and guys, the starting bid was a real kick to the face, but we'll get to that in a moment. How's it going guys and girls? It's Kara here for you with a brand new house tour, this one taking a look at the home of Lil Kim. Now as I hinted off the top of this video, Kim's been going through it financially over the last few years, and while she seemed to have cleared up the majority of her issues, I thought today I'd look at one of her largest sticking points, financially speaking. Her home in Alpine, New Jersey. We're noticing 95% of you watching aren't subscribed, so hit that subscribe button and ring that bell. We post a new video daily. Don't forget to follow me on Instagram to chat and let me know in the comments what you thought about Lil Kim's home. Let's get into this video. Alpine, New Jersey is a posh suburb located just 15 miles from Manhattan, and is one of the wealthiest zip codes in all of America. Back in 2003, Lil Kim moved here and bought her first home for $2.3 million. Originally built in 1989, this mansion sits on more than 2 acres of lush greenery, and with it's more than 6,000 square feet inside, there's more than enough room to live it up baller style. According to recent property records, the home has been assessed to now be worth more than $3 million, and from the few glimpses we've managed to catch of the inside of her home over the years, it's pretty clear that Kim has an affinity for a high class and a luxuriously decorated interior. She isn't afraid to customize her space either, installing special made smoke glass doors featuring her Queen B logo inside of her home. She's even shown off the outside of her place from time to time, like in the clip that she shared of her adorable daughter Royal Reign learning to ride her bike on the back patio. We've also been offered a peek into her bedroom, which features a massive chandelier hanging from the center of the room, along with a fireplace and television installed directly into the walls. Beyond that is easy access to the backyard where Kim can keep an eye on her kids when they're outside playing in the pool. And Lil Kim is far from the only celebrity calling this part of Jersey home. Other big name celebrities that live around here include Chris Rock, P Diddy and even Mary J Blige. Lil Kim spent 8 happy years in this home before it fell into foreclosure sometime in 2010. At the time, Kim began making monthly payments of around $10,000 for a few years before she reportedly stopped doing so in 2015. As a result, a judge would later rule in 2017 that she was in default, which meant her house could be foreclosed and auctioned off. Things got so bad that there was even a date set for the auction, and despite the overall value of the home being worth north of 3 million dollars, the opening bid was that it started at only $100. Needless to say, Lil Kim was running out of time. So she did the only thing she could. She filed for bankruptcy. Come on you guys knew we were going to use that at some point. It's like an unwritten rule of the internet. Every time someone says the word bankruptcy, Kim's financial numbers at this time were looking a little something like this. She had over 2.5 million dollars in assets, which is a good thing, but she also had over 4 million dollars in liabilities, which is decidedly not a good thing. In fact, she owed as much as 1.8 million dollars in back taxes alone. In 2016, her income dropped from about 820k a year to something closer to 400k. Despite that, Kim was spending more than 2k a month on her wardrobe, over 10k a month in travel expenses, and over 2k a month on staff. In other words, something had to give. After putting together her plan to get out of debt, Kim proposed to repay her millions, saying that she would pay back 5,500 per month for 60 months. But if you crunch those numbers, you'll find that they don't quite add up to enough. Next, one of Kim's creditors asked for permission to auction off the house, and used the money to help pay off her debt, but the judge sided with Kim, and prevented the foreclosure of her home. Kim was ordered to pay her creditor over 32k dollars immediately, and then monthly installments of 10k to pay back her debt. The judge reminded Kim, if she were to even miss one payment, the creditor would have the right to take her home, and sell it off to the highest bidder. Which I'm assuming would have eventually been higher than that 100 dollar starting bid. Since then, Kim must have made every payment, because according to all the records I could find, she still lives in that home in Alpine, New Jersey. And in fact, not only that, but she was recently spotted house hunting with her new boyfriend, The Great. Hopefully that means Lil Kim is back in the green and ready to move on with her life, financially speaking. But I gotta say, if you're considering spending money on a home that features a bar with saddle seats like those, maybe you're not entirely out of the woods yet. Alright guys, we're going to bring this house tour to an end here. What did you guys think of Lil Kim's home? She's definitely had a rough go of it with her financial problems, but I gotta say I'm impressed she managed to work herself out of them on her own. Lesser people probably would have crumbled under the pressure, but not Lil Kim. Well that's why she's the Queen Bee. Bankruptcy be damned. I'll see you guys all in the next video. Bye!