Who is an owner? What's your story? - Page 2

#21 07-04-2007, 08:38 PM

Quote:

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?

Downthestretch55 · #22 07-04-2007, 08:48 PM

Quote:

Originally Posted by DropofHope

So when you bought your first colt, you were sole owner? Where did you keep him?

That's another huge question I have...once you find a horse you want, or find an opportunity like the one you found....how do you then choose a place to board the horse, choose a trainer, etc?

That first colt is a half partnership. He's running in the 9th on Friday at Finger Lakes. He hasn't done too well, but that's along, long story. His name is Big Daddy Ray. I helped get him trained prior to going to the track.
I kept him at a farm near my home, Harper Hill Farm in Harpersfield, NY, where most of my other ones live, though one is now in training on Long Island, and another is in training in Delaware.
Where to board a horse? I like being close enough to visit them at least three times a week, and now that one of my fillies at the farm has a rider on her back, and I like to ride, it's an every day deal. Each day is a little bit more.
Trainers? I've been through a few. There are good ones and some not, just like people, just like horses.
If you really want to get into it, and this is just my "take", breeding your own and keeping it to race might be an option, but it's over the long haul.
Claiming one might be the way to go as you have a chance to run right away, but be careful and have a trainer lined up that can help you pick one out. Some claimers are in that situation when there's a reason to get rid of him/her. Yet, some claimers have gone on to good things.
Find a "horseman" (or "horsewoman") that knows and that you can trust to help you on this. Just my two cents. Good luck!

Mortimer · #23 07-04-2007, 08:57 PM

But seriously.

I did own a horsey when I was in Idaho.

Anyone here ever been in Idaho?

Storm Cadet · #24 07-04-2007, 08:57 PM

Quote:

Originally Posted by philcski

I was wondering why you used the name Storm Cadet, because I remember his debut. Didn't know what happened to him after the Bongard, though. Sorry to hear that.

.

My avatar is Storm Cadet winning his maiden at SAR!

Mortimer · #25 07-04-2007, 08:58 PM

Quote:

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 · #26 07-04-2007, 09:02 PM

Quote:

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.

Mortimer · #27 07-04-2007, 09:05 PM

Quote:

Originally Posted by DaHoss9698

Oh wow. That was good.

OOOOOOOOOOOOOOOOOOOO
OOOOOOOOOOOOOOOOOOOO
OOOOOOOOOOOOOOOOOOOO

Thanks in advance!!

Mortimer · #28 07-04-2007, 09:11 PM

Fellers...

...where did DropOff go??

geeker2 · #29 07-04-2007, 09:17 PM

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

#30 07-04-2007, 09:38 PM

Quote:

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?

Kasept · #31 07-04-2007, 09:40 PM

Quote:

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.

ShadowRoll · #32 07-04-2007, 09:41 PM

Quote:

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 · #33 07-04-2007, 09:43 PM

Quote:

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..

ELA · #34 07-04-2007, 09:47 PM

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

#35 07-04-2007, 09:53 PM

Quote:

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 · #36 07-04-2007, 09:58 PM

Quote:

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!!!!