James Krause – “I’m in over 5 million dollars of debt”
Former UFC fighter and coach James Krause made a shocking statement today on social media, revealing that he is more than $5 million in debut.
Krause, 37, was investigated after it was discovered that he allegedly acted as an agent for an offshore bookmaking operation for years. He recently stated, “I make more gambling on MMA than I do anything else,” he said, adding that most of his fighters make only about $12,000 to $14,000 to fight and about twice that sum if they win. “I have some guys making in the 20s, but even at that, you get 10% of 20 grand. That’s $2,000. I’m on the road every weekend, Wednesday to Sunday.”
In the social media post about his debt, Krause said:
“I’m in over 5 million dollars of debt and don’t lose a second of sleep over it.
Because of this I learned a few things along the way…
1. Inflation – if you do nothing with your money you are losing it due to the dollar not being worth what it once was even a year ago.
2. Cash flow – all my properties have money left over after ALL bills are paid monthly.
3. Leverage – because I have equity in my properties I’m able to leverage that equity to create lines of credit or more cash to buy more property.
Once I learned how debt worked it changed my life.
If they keep printing money then why wouldn’t you use debt?
If the people running the country are using debt, the largest companies in the world are using debt then why wouldn’t you?
Lastly, once you understand fractional banking and how it works you know that most of this is just numbers on a computer screen anyways but that’s for another post…
One of the many topics to discuss in my real estate coaching group.
If I can help you in any way shoot me a DM!”
