owning a race horse
 

i know that owning a race horse is expensive, but for someone starting out, what is the best way to go about it..with not a lot of money, or contacts in the business? in the future, i would love to get in the business, but i am not sure how.

hi videogirl. well 1 way of getting involved in ownership in the sport is through a partnership. they have 1 here in chicago called get in the picture stable run by trainer mike campbell. basically its 5k for a share but you pay no bills throughout the year and get all the perks of being a owner, you also own a piece of several racehorses. at the end of each year the partnership is broken up and money is divided up and you can rejoin the next year if you want. this is a very good way and a inexpensive one to get involved. im a owner by myself of a active racehorse and have been for the past year and a half and with the day rate you pay the trainer each month and vet and possibly shipping costs it gets very expensive financially doing it all on your own especially if your horse isnt winning races LOL. the only problem with a partnership like the 1 i mentioned for me atleast is you dont get to be that hands on, they pick the horses, they pick the jockeys etc etc etc, thats just not for me personally but its a tremendous and about as inexpensive way as youre gonna get to get involved in owning in this game

These Partnerships sound like your paying for somebody else to own a horse.

owning a race horse
 

thanks for your help

The cheapest way to own your own horse is probably to claim a cheaper horse. Not sure where you are, but claiming prices can get pretty low($2500). Beware damaged goods. Many cheaper claimers either have talent and are not sound, or lack talent but are sound. Have a trainer help you select a claimer.

You would need to ask around in your area about finding a good up-and-coming trainer to get a good day rate. Day rates are widely variable ($25 - $140), but younger less established trainers will be cheaper. All sorts of deals exist on the track. You might even be able to find a trainer willing to go in with you.

Partnerships are a good way to go because the expenses run about $35K a year. I deal with younger horses but try getting in a partnership like Karakoroum (cheap) or if you have more money go with West Point. In my opinion the best out there is Cot Campbells Dogwood.

Dogwood's probably the best, but you also have to pony up like $25k to start. Not everybody who wants to get into ownership has that kind of cash.

Where are you located, videogirl?

I paid $2500 for 10% in a horse last year. Just make sure you get to know the trainer who is running the partnership. I invest in Jeff Greenhill at Turfway. He is a good man and I really like being invested in his partnership. The $2500 got me 10% but you can purchase more shares. It is perfect for me because I dont have the time or knowledge to be hands on, but I enjoy the perks of being an owner. So far, I have made back almost all of my original investment. If my horse gets claimed for $15k like we are hoping then I will make a couple of grand. But you dont own a horse to make money, you own won to stand and watch your horse grow, enter the gate and cross the finish line. That first win is so unreal.

Usually more than 25K but his horses are almost always real runners. Tack on another 12K a year for expenses too. Cheap horses are nice to buy but be prepared to find out where they end up when their careers are over.

What are the chances of breeding a decent thoroughbred your first time out? There is a nice stallion standing in PA for dirt cheap that I like a lot... does anyone have any idea of what it costs to hire a decent trainer?

owning a horse is extremelt expensive, its the most expensive pet you can have. not having owned one, and maybe someone who has can elaborate, but the cost a re extreme.
first you but it, lets say a minimun of 25,000 for a good dosage horse.

15,000 a year to feed it.
then you have to have a way to ship it, car, van , etc.
and then the entry fees for stakes (30,000 for the KD)
all the various equipment, you need extra 's too, bridles, saddles.
the trainer is what 15 bucks a day or so.
then there is the time, who will plan its day, do you have the time for a 1200 pound pet ?

this is basically a business you get into when you retire if you made milions throughout your life.
its what you spend the profits you made selling your lifelong enterprise on.
instead of buying stock , you buy livestock.

Cajun,
I got into it by breeding mine. It's not for everyone but it's something I like.
A good trainer...hmmm, it varies with the track. Figure $40 a day at a smaller track. The big tracks go for $80-$95.
One of my mares is in foal to Best of Luck (High Cliff Farm) on the nybreds.com site. I also have a nice new filly by Stanislavsky.
DTS

I live right near you. Who in PA are you looking at? Depending on what you have, Patton is a great value in PA. Around $2000. The best value in the country though is right near you. Snow Ridge stands for $5000.

If you are looking at the big leagues that is true but you can get some nice horses cheaper but I would suggest buying fillies. Your colts are likely to find their way to europe for someone's dinner.

I actually live in Florida, but I was looking for a decent stallion by Easy Goer (tough to find) and found one in Pennsylvania. Here is his information:

http://www.thoroughbredtimes.com/isd...ion_no=1422500

Here is his dosage profile: Dosage Profile: (9-6-16-0-1): DI: 2.56 CD: 0.69

Thoughts?

$3500 sounds like a good deal. I know very little about Easy Goer stallions but who can complain about the great grandson of Hoisttheflag. :)

That is too funny... I didn't even think about that. :D

He looks like a nice stallion, although it's tough to tell without actually seeing him in person.

With breeding there are several things to consider. First, is the wait. From the time your mare goes to the shed to be bred, you are going to have a minimum of two and a half years to get to the track. That is a long time! Correction, an eternity. Next, is cost. Let's say you pick up a decent mare for 10k. You send her to be bred for $5k. Daily cost is likely $25/day. For the first 550 days. Then, $50/day (mare and weanling) for the next 450 days. Plus, the mare will need to be bred back after the foal is delivered. The bred back the following year when the second foal to is delivered while you still have the first foal. Repeat. It gets to the point where you are paying the daily rate on a two year old, a yearling and the mare. And this is all if everything has gone perfectly. Vet bills just raise the price. Trainign once they are ready is also and added expense. It starts to make your head spin.

Basically, we figured that to get our first foal ($5k stud fee) to the yearling sale, without considering the cost of the mare (since we raced her), was about $25k without any substantial vet bills. But to sell and make money you must also consider the consigner's fee and the auction company fee. So, you need to take a marginal mare bred to a modest $5k stallion and produce something salable for 30k.

Now, if he has bad conformation, is just small, or is too big. He is worth very little. The catch is, and the reason people do this, you can hit the lottery. You could sell one bred like this for 100k+.

Breeding has been rewarding to me, but not at no cost. Still waiting ont he first one to get to the track as well. So, in the mean time I have been to the sales and purchased a yearling for action. More bills.

Last shining thought, WINNING a race and having the photo on my wall was the best thing ever!!!!!!!!!!!!!!!

Owning A Racehorse
 

VideoGirl:

It really depends how involved you want to get and how much control that you want. Obviously, the more control you want the more $$$ is required.

There are many different partnerships out there. As some have already stated, these partnerships can range from just a minimum investment which will equate to a small percent ownership to a higher investment (Little Red Racing Stable or Dogwood). The more costly partnerships will usually give you a higher overall ownership and/or investments in higher end race horses.

I started a LLC this year with three other partners and we have purchased two 2YO fillies to race in NY State. We are all equal owners at 25%. It really has become a dream come true for myself and am looking forward to our babies making their first starts this year.

As far as costs, there is the costs of buying the horses and then the monthly costs of training. This will vary from track to track with the minor tracks about $40 per day and the major tracks at $80 per day and up. Then there are vet fees, farrier fees and the other licensing fees to get started. The whole process can be overwhelming....

Hope that helps...

Seriously, there are lots of good partnerships out there where one can put a few hundred bucks into a race horse and enjoy all the acoutrements of ownership. I'm involved in a couple on a very small basis and I absolutely love it.