In his track “Energy,” Drake famously brags:
“I got two mortgages, thirty million in total.”
Now, we’re all for Champagne Papi doing his thing and sure, if you’re one of the highest-earning artists in the world, a $30 million real estate portfolio might seem like just another Tuesday. But let’s take a moment and actually break that down.
💸 Drake’s Mortgage Math
Let’s say Drake didn’t pay cash (which, given the lyric, he didn’t) and instead financed those homes:
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Total mortgage debt: $30,000,000
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Assumed rate: 7.0%
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Term: 30 years
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Estimated monthly payment: around $199,000/month
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That’s $2.4 million per year — just in mortgage payments.
Drake’s estimated net worth is around $250 million, and he likely earns $25–50 million annually, depending on touring, endorsements, and album sales. So yes, technically, he can afford it. But it still begs the question:
Should anyone, even Drake, be spending nearly $200,000/month on housing debt?
It’s not about whether you can afford it.
It’s about whether that burn rate makes sense.
Now Let’s Bring This Home: Newberg Style
Here in Newberg, most buyers aren’t dealing in tens of millions. But the principle still applies. Just because the bank says you’re pre-approved for $850,000 doesn’t mean you should sprint out and spend every dime.
Pre-approval is not permission. It’s simply a ceiling. And ceilings are usually better left a few feet above your head — not sitting on your shoulders.
Here’s What Actually Matters:
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Can you comfortably make your monthly payment even if things change?
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Job shifts
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Kids
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Unexpected expenses (new roof, vet bills, car repair)
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Do you have room for savings, travel, and living — not just surviving?
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Are you buying a home that fits your goals, not your ego?
You should feel excited about your home purchase — not like you’re playing financial Jenga every month, just waiting for the wrong piece to fall.
Final Word
Drake might have two mortgages and $30 million in real estate debt — but you’re not Drake. And that’s a good thing.
Buy smart. Don’t just chase your “maximum approval.”
Find your maximum comfort — because in real estate, peace of mind is just as valuable as square footage.
If you want a second opinion before pulling the trigger on a big purchase, reach out. I’ll tell you what the bank won’t.
– Chandler Willcuts,
Newberg Real Estate | Fiscal Reality Check Specialist
