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.
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