Who is an owner? What's your story?

[AeWingnut]

I have heard plenty of bad things about horse ownership but always wanted to do it. Steve set up Dee Tee stables and I jumped.

We have yet to visit the winner's circle but it has been a thrill.

I recommend it.

[Mortimer]

Ya I gotta story for you.


I've been in this thing too long.

The stink a the stables gets in your clothes.

I mean you got money going out 8 different ways.


Ya got yer people out there earnin'......earnin'...ha...that's a joke.I don't know what the hell they do half the time.So I call one in...TommyNoChance.So I says to him..."Hey Tommy. Whattaya doin'? I don't see nothin' comin' in ovah heah from you."

Know what he says?

He says..." Ya ,Morty...but ya know I got this thing with TheCat. It takes up a lotta time ,but I think it's gonna pay off."


I can't believe the guy is this dumb...so I says back .." You drop that thing with TheCat...understand? Yer probabaly gettin' hosed right now and don't even know it.So that ends like now....and you get yer fat dupa out there and steal some hubcaps or somethin'....know what ahm sayin'?"


So that's just a sample. Then I got Hossy and ThebbyTwoTimes runnin' the bingo thing. Only they're losin' money. Can you believe losin' at a bingo operation?

So I call them in.......and I wanna know what the story is.So TTT starts...says.. " Ah keep yer shirt on.We're settin' up a big score. We got that NewYork sharpie The Panda sucked in real good....let 'im win all the time. "

So then Hossy breaks in..."BURP"...he says.... I tell im' to shut his big mouth.


TTT talks up again..."So like I was sayin'......in a couple a weeks he's gonna lay down about 750 large....and we're gonna sting 'im for the whole thing."



So I'm thinkin'...'Hmmmm....maybe they got somethin' here'.....so I says...."So what if he gets wise ? Ya know who his lawyer is? "



TTT says...."Ya...that's the best part.....yer gonna love this....






....it's Gloves Dardin."





AHAHAHAHAHAHAHAHAHA!!!!.....we all says...we were laughin' our asses off!




So...I guess it ain't all bad.

I tell ya more latah.

[citycat]

Owner here and usually carry a string of five to seven or so horses, I personally prefer sole ownership. Before I get into why I personally love it I would like to give you a piece of "real life" advice, you need to make sure that you view your investment as totally disposable income. A recent study showed that only 7% of owners actually make money so you should be in it for the right reasons.

For me it is very easy to caption the reason why I am in it. It can be hard to put into words but for me the essence of it all is when you get to the barn before dawn and see your horses getting up. The groom/trainer getting the tack on the horse then you follow the horse over to the track. Then there is that absolute defining moment for me that always makes me get goosebumps is when you horse is galloping around the twin spires as the sun is coming up. I realize that this may just be any ordinary morning for most people but for me I realize why I love it every time I get to the barn and see my horses work over the track as the sun comes up. Its like the perfect moment in time. Sorry if that sounds kinda sappy but that is why I am in it.

Of course your first win, your first babies work, your first "big" win, running your first horse at major tracks are all highlights and moments you will not forget, but like I said for me its that magical sunrise moment that gets it done for me.

There are ups and downs with racing but you have enjoy it.

[Storm Cadet]

Originally Posted by citycat

Owner here and usually carry a string of five to seven or so horses, I personally prefer sole ownership. Before I get into why I personally love it I would like to give you a piece of "real life" advice, you need to make sure that you view your investment as totally disposable income. A recent study showed that only 7% of owners actually make money so you should be in it for the right reasons.

For me it is very easy to caption the reason why I am in it. It can be hard to put into words but for me the essence of it all is when you get to the barn before dawn and see your horses getting up. The groom/trainer getting the tack on the horse then you follow the horse over to the track. Then there is that absolute defining moment for me that always makes me get goosebumps is when you horse is galloping around the twin spires as the sun is coming up. I realize that this may just be any ordinary morning for most people but for me I realize why I love it every time I get to the barn and see my horses work over the track as the sun comes up. Its like the perfect moment in time. Sorry if that sounds kinda sappy but that is why I am in it.

Of course your first win, your first babies work, your first "big" win, running your first horse at major tracks are all highlights and moments you will not forget, but like I said for me its that magical sunrise moment that gets it done for me.

There are ups and downs with racing but you have enjoy it.

I agree..the best is the AM workouts..here's one of mine working out at sunrise a few years back at Saratoga

Originally Posted by Storm Cadet

I agree..the best is the AM workouts..here's one of mine working out at sunrise a few years back at Saratoga

That photo is gorgeous! Thanks for posting it!

Originally Posted by citycat

For me it is very easy to caption the reason why I am in it. It can be hard to put into words but for me the essence of it all is when you get to the barn before dawn and see your horses getting up. The groom/trainer getting the tack on the horse then you follow the horse over to the track. Then there is that absolute defining moment for me that always makes me get goosebumps is when you horse is galloping around the twin spires as the sun is coming up. I realize that this may just be any ordinary morning for most people but for me I realize why I love it every time I get to the barn and see my horses work over the track as the sun comes up. Its like the perfect moment in time. Sorry if that sounds kinda sappy but that is why I am in it.

I am so happy to read your post! The more I talk with people, the more I find people who approach this mostly from the business aspect of it....which is awesome, and definitely necessary!

But it's really good to hear from someone who seems to carry a passion for the LIFE....the early mornings, the atmosphere of the horses, trainers, jockeys....there is a poetry to all of it that seems to get lost for some people. I was beginning to think that I was a giant sap with no chance for success because I am very intrigued by this exact aspect! Thank you for showing me that actual owners can still carry a bit of this romantic love for the sport itself!

[Mortimer]

Originally Posted by DaHoss9698

Oh wow. That was good.

OOOOOOOOOOOOOOOOOOOO
OOOOOOOOOOOOOOOOOOOO
OOOOOOOOOOOOOOOOOOOO

Thanks in advance!!

[Mortimer]

Fellers...



...where did DropOff go??

Originally Posted by AeWingnut

I have heard plenty of bad things about horse ownership but always wanted to do it. Steve set up Dee Tee stables and I jumped.

We have yet to visit the winner's circle but it has been a thrill.

I recommend it.

I just learned about the Dee Tee partnership - how did you guys work it out? How many people are involved?

[Mortimer]

Originally Posted by DropofHope

I just learned about the Dee Tee partnership - how did you guys work it out? How many people are involved?

How about you,sir?

[Kasept]

Originally Posted by DropofHope

I just learned about the Dee Tee partnership - how did you guys work it out? How many people are involved?

We got 60 people that each threw in $500. Only charge. No other billings. Chuck Simon handles the day rate in exchange for 50% of any earnings. We bought a 3yo filly at the February F-T Mixed sale. Chuck worked with her for 75 days and we've have had some success with her and a lot of fun as many first time owners get a feel for what it's all about.

[geeker2]

Steve..any thought of doing another one? I could cash out of JJ's Post Time Racing Stables...and buy everyone a coffee LOL...

[Kasept]

Originally Posted by geeker2

Steve..any thought of doing another one? I could cash out of JJ's Post Time Racing Stables...and buy everyone a coffee LOL...

We will likely do another.. Granted we might not get as remotely lucky as we have with Sumwon, (ever again), but it's been tremendous fun for all involved.

[ELA]

I've been in the game my entire adult life. I love the sport as a fan, and as a bettor, and I love the business -- but I treat it like a business; like everything I am involved in (my own business, private equity deals, investments, real estate, etc.).

I consider myself an ambassador of this incredible sport and business. As a result, I've brought countless #'s of people into this business. Whenever I go to the track, I invite friends, associates, etc. The best advice you can get is the best advice I got from successful owners who I became friends with. Get a mentor. Speak with successful owners, get to know them, learn from them. Pick a trainer who has demonstrated -- consistantly -- that he/she can win races. They place their horses in the right spots, they play the game aggressively (meaning they place their horses in winning spots). I have always picked trainers who win races. Aside from the external, extraneous, ancillary, and hyperbole reasoning, justifications and excuses -- high % trainers are high % trainers for a reason. That doesn't mean that I only use leading trainers, but it happens to work out that way rather often. Meet with several trainers. Have successful owners introduce you. Everyone thinks their trainer is the best. Often people make emotional decisions and don't see the forest through the trees. Once you learn, you will know what trainers will "fit" for you. More importantly, you will be able to find some trainers who are the diamonds in the rough and who haven't reached their potential for very valid and understandable reasons.

Don't check your brains at the stable gate. Draw parallels to your own business and make economic, sound, quality decisions. Diversify and manage risk. Your first loss is your best loss. Learn everyday. Go to the barns when you can. Ask questions. Be inquisitive. Look to be on a constant and never ending quest for knowledge.

If 90% of the people in this business lose money . . . there is a great opportunity for the other 10%. All you have to do is figure out how to be part of the 10%.

Good luck and enjoy!

Eric

Originally Posted by ELA

I've been in the game my entire adult life. I love the sport as a fan, and as a bettor, and I love the business -- but I treat it like a business; like everything I am involved in (my own business, private equity deals, investments, real estate, etc.).

I consider myself an ambassador of this incredible sport and business. As a result, I've brought countless #'s of people into this business. Whenever I go to the track, I invite friends, associates, etc. The best advice you can get is the best advice I got from successful owners who I became friends with. Get a mentor. Speak with successful owners, get to know them, learn from them. Pick a trainer who has demonstrated -- consistantly -- that he/she can win races. They place their horses in the right spots, they play the game aggressively (meaning they place their horses in winning spots). I have always picked trainers who win races. Aside from the external, extraneous, ancillary, and hyperbole reasoning, justifications and excuses -- high % trainers are high % trainers for a reason. That doesn't mean that I only use leading trainers, but it happens to work out that way rather often. Meet with several trainers. Have successful owners introduce you. Everyone thinks their trainer is the best. Often people make emotional decisions and don't see the forest through the trees. Once you learn, you will know what trainers will "fit" for you. More importantly, you will be able to find some trainers who are the diamonds in the rough and who haven't reached their potential for very valid and understandable reasons.

Don't check your brains at the stable gate. Draw parallels to your own business and make economic, sound, quality decisions. Diversify and manage risk. Your first loss is your best loss. Learn everyday. Go to the barns when you can. Ask questions. Be inquisitive. Look to be on a constant and never ending quest for knowledge.

If 90% of the people in this business lose money . . . there is a great opportunity for the other 10%. All you have to do is figure out how to be part of the 10%.

Good luck and enjoy!

Eric

Eric - this is wonderful, sound advice! I'm going to print out your post and use it as a little guide to help me get started. Brilliant post. Thank you so much.

Kristi

[Mortimer]

Originally Posted by DropofHope

Eric - this is wonderful, sound advice! I'm going to print out your post and use it as a little guide to help me get started. Brilliant post. Thank you so much.

Kristi

rule-eng un ze flour!!






leff-eng may ess oaf!!!!

[Storm Cadet]

Originally Posted by ELA

If 90% of the people in this business lose money . . . there is a great opportunity for the other 10%. All you have to do is figure out how to be part of the 10%.

Good luck and enjoy!

Eric

Great post... Eric...IMO out of that 90% I bet half of the people LOSE money because of unscrupulous management people who end up charging more for THEIR expenses than the horses and those 10% who make money are either single owners or are the management people themselves! That's why there are literally HUNDREDS of partnership companies that have popped up since 2000, because these people have learned the way to insulate themselves from losses, get paid up front by investors and what ever happens happens. There is one NY based outfit that charges a premium or additional 10% of the purse each time the horse goes over the 100G total purse winnings level. Another has the gaul to deduct from the a 10% fee of a claim which gets paid to the trainer! If they have a winning horse, they make more money in build in profit clauses of the purse in addition to their management fee. If the horse doesn't hit the board, owners are asked for cash calls! It's NO LOSE for these companies. We should start one up

Originally Posted by Kasept

We got 60 people that each threw in $500. Only charge. No other billings. Chuck Simon handles the day rate in exchange for 50% of any earnings. We bought a 3yo filly at the February F-T Mixed sale. Chuck worked with her for 75 days and we've have had some success with her and a lot of fun as many first time owners get a feel for what it's all about.

That sounds like a great set up! What do you all do with the other earnings? Are they distributed, set aside, put toward future purchases? If Chuck handles the day rate - does he also pay for the vet bills, etc?

Sixty owners sounds like a LOT! Is every owner able to watch workouts, attend races, etc?

[ShadowRoll]

Originally Posted by DropofHope

That sounds like a great set up! What do you all do with the other earnings? Are they distributed, set aside, put toward future purchases? If Chuck handles the day rate - does he also pay for the vet bills, etc?

Sixty owners sounds like a LOT! Is every owner able to watch workouts, attend races, etc?

Peppermints.

[Kasept]

Originally Posted by DropofHope

That sounds like a great set up! What do you all do with the other earnings? Are they distributed, set aside, put toward future purchases? If Chuck handles the day rate - does he also pay for the vet bills, etc?

Sixty owners sounds like a LOT! Is every owner able to watch workouts, attend races, etc?

Everyone gets the benefit of ownership, even being under 5%. What is earned would go towards another horse; pays for liability and replacement insurance; 'over and above' expense if the horse needs surgery/turnout/rehab, etc..