owning a race horse

[videogirl10]

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.

[disappearingdan_akaplaya]

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

[SCUDSBROTHER]

Originally Posted by disappearingdan_akaplaya

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.

[videogirl10]

thanks for your help

[Thoroughbred Fan]

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.

[PSH]

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...

[slotdirt]

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.

[disappearingdan_akaplaya]

i like 1 standing in PA also for very cheap that i may breed to, and of course i loved this horse on the racetrack...........duckhorn

this looks like a good summary;

1) pay out money to claim or private purchase a horse.
2) pay trainer from $45 to $75 per day per horse.
3) pay ferrier $125 per month for trim and shoes.
4) pay vet minimum of $75 to the sky's the limit (highest last year for us was $880) per horse per month.
5) pay transport to move from track to track $75 per horse per one way trip. Out of state can be as high as $1,000 if going 1000+ miles.
6) pay $25 for vitamin "jugs" once or twice a month per horse.(seperate from the vet bill)
7) pay trainer 10%(of our purse money) if horse wins-5% for 2nd thru 5th.
pay jockey 10% if horse wins-5% for 2nd or 3rd, and $65 for 4th to dead last.
9) pay ponyboy $20 to bring horse to the starting gate per race.
10) pay $200 per year for licenses, partnership registration and silks registration.
11) there are lots of other smaller incidental expenses - to numerous to put down.

[videogirl10]

sorry it took a long time for me to get back...i am located in southwest va. in abingdon.