|
|
 |
|
|
|
#1
07-10-2006, 11:55 AM
|
|||
|
|||
Would you do this?!?!
I am with trying to answer a very difficult question. And I would appreciate if anybody gives me a good insight!
I am 24 yo, and I was offered to enter in a partnership on buying a race horse here in Brazil. The horse is a claimer (this means, probably, that he will win nothing at all!). Would you enter on this partnership if your monthly spents will be 10% of your salary?!!? The horse price is 20% of my monthly salary. Assume that the horse is on good conditions and the trainer is not trying to sheat me! Moreover, I intend to sell the horse in one year and buy an unraced colt/filly next year...this first year is just to get experienced. Thank you! 
|
|
#2
07-10-2006, 11:57 AM
|
||||
|
||||
|
if the horse is a claimer that can't/won't win who do you think you are going to get to buy it? It sounds like a losing proposition to me. 10% of your monthly budget should never go towards an investment like a horse--what happens when the horse gets sick or hurt and the vet bills start rolling in--or when it needs time off and you are paying day rate on an animal that is earning nothing. Racing is almost always an arena to throw your money away, it sounds like you are not in a financial situation where this is possible.
__________________
 Seek respect, not attention.
Last edited by paisjpq : 07-10-2006 at 12:02 PM.
|
|
#3
07-10-2006, 12:04 PM
|
|||
|
|||
|
Quote:
So i intend to pay $2.000 on a bad horse....get some experience and the next year, pay $30.000 to a horse and give him to a trainer I trust I dont know if I was clear, but I wont use the returns this bad horse will give me to buy the other horse one year later...
|
|
#4
07-10-2006, 12:10 PM
|
||||
|
||||
|
Quote:
__________________
Seek respect, not attention.
|
|
#5
07-10-2006, 12:17 PM
|
|||
|
|||
|
Quote:
The trainer assured me that when the horse starts giving me no returns, we will sell him....even if it is to make sausages....
|
|
#6
07-10-2006, 12:19 PM
|
||||
|
||||
|
Quote:
__________________
Seek respect, not attention.
|
|
#7
07-10-2006, 12:08 PM
|
|||
|
|||
|
Quote:
And I will think about it! Thank you!
|
|
#8
07-10-2006, 12:01 PM
|
||||
|
||||
|
Quote:
If you are 65 years old, have no dependents and a funded retirement, ... yes. Anything in-between, no. Just an opinion.
|
|
#9
07-10-2006, 05:02 PM
|
|||
|
|||
|
Quote:
IF YOU BOUGHT INTO THE HORSE AND HE DIDN"T WIN FOR 6 MONTHS, COULD YOU PAY FOR YOUR SHARE OF BILLS ON TOP OF WHAT YOU EXHAUSTED FOR THE HORSE? Make sure you ONLY spend money that is hobby/leisure money - or that which is expendable income....not 'rent' money, so to speak... Also, if the answer to that financial question is 'Yes', then you'll want to do your homework to make sure you understand the entire deal...what you are responsible for....what is your share in the horse...whop has the decision making power in the partnership.....How good is the trainer and does he have a plan....Is the trainer or business manager accountable and honest...etc... Even though it is a hobby for most, it can be a shocking experience that leaves people with a bad taste in their mouths if you don't understand what you are getting yourself in to, and I would hate to see you get run off by this sport by lunging into the wrong situation because there are a lot more things that can go bad in this sport before they go good....I want to breed new owners in the biggest way, but that also means that I want new owners to come into this game well-informed and as smart as they can be about the situation so that we can keep you in the game. By the way, did you say that you were living in Brazil?..Or that you were buying a horse from Brazil to ship to the States? Just do your HOMEWORK!!!
|
Hybrid Mode
