Racing Partnerships Question

[uncbossfan]

This may not be the exact place for this, but as a long time lurker, people here are very knowledgeable and it seems like you may be able to point me in the right direction.

I'm looking at jumping into the ownership aspect of the game. I have been a fan of the sport since a young kid, and now in my mid 20's, I would like to take it a step farther. I live in KY and would like for my horse(s) to run closer rather than further, but am open to opportunities around the country. I am looking for initial investment to be between 5 - 7 thousand. If you feel like that amount is not enough to get started, please advise so. Would appreciate any and all feedback, positive and negative as well as any experiences you may have had.


Appreciate your time.

Matt

[JustRalph]

I have absolutely no interest in this group

http://www.derbytrail.com/forums/forumdisplay.php?f=20

But the people I know that do............seem to be very happy and they run Kentucky and the surrounding area.

[Kelso]

I have absolutely no interest in this group

http://www.derbytrail.com/forums/forumdisplay.php?f=20

But the people I know that do............seem to be very happy and they run Kentucky and the surrounding area.Ralph,
Do I remember correctly that you're a member of the Horsehats Club(s)? If so, did you get into either of the past two offers ... the multi-horse deals? Do yoou know how the first of those (2007) is doing? Thanks.

[ryesteve]

Would appreciate any and all feedback
There are two things I would consider when selecting a partnership:

1 - What is the past level of success of the partnership group? Obviously no one can guarantee what sort of performance you'll get from a horse you buy into, but if the partnership has a decent win rate historically, at least you know they're capable of selecting good horses, and the trainer(s) they use are competent.

2 - What is the level of communication? Does their website get updated frequently, or is the "latest" news from back in '07? How quick are they to respond to inquiries? How clear and explicit are they concerning markups and management fees and payment schedules?

One other thing that is a personal peeve of mine: I don't like websites that make you jump through hoops to see the current offerings and how much the buy-in is. Kind of like when you're shopping for something and the ad says, "Call now for Best Price!" They may have good reasons, but I don't like the secrecy. For example, West Point. Obviously a top outfit based on their recent successes, but don't bother trying to browse their current offerings unless you give them all your personal info first. And then MAYBE they'll let you look. For an example of the opposite end of the spectrum, check out Centennial Farms' website. Not only do they give you full disclosure on each partnership's capitalization, they also tell you exactly when they purchased each horse and for how much. If they can do all this, I don't see why the rest can't.

[Cangamble]

Racing Partnerships are a way for a horseman/trainer to overprice their junk to an unsuspecting public. I'm not saying that is always the case, but I've seen it quite a few times.
My guess is the expenses are also higher than what one owner can negotiate for with a trainer.

[JustRalph]

Ralph,
Do I remember correctly that you're a member of the Horsehats Club(s)? If so, did you get into either of the past two offers ... the multi-horse deals? Do yoou know how the first of those (2007) is doing? Thanks.


Not me? I never heard of it until your post. I looked it up online. Found the website. I am not a member.

[matthewsiv]

Call Terry Finley at West Point and say Ian Matthews from Miami recomended you to them.

He might have something you could go in and you could follow their other horses as well.

They are fantastic at getting tickets and putting on events at the races.

I am not a partner and I have nothing to do with West Point,I just know Terry and Buzz Chace and they are good guys.

We often bid on the same horses at the sales and this is how I know them.

[njcurveball]

I am looking for initial investment to be between 5 - 7 thousand.

Are you prepared to accept losing all this money plus paying monthly expenses? In return you will probably get some days where your horse runs, lots of excuses from your trainer, and if you are lucky a winners circle picture.

[ManeMediaMogul]

I have heard good things about Pewter Stable (I think they have a link on bloodhorse.com).

A sharp young guy, Aron Wellman just took over day-today operations at Team Valor (teamvalor.com).

Bongo Racing Stable has had some good success for a couple of friends (bongoracing.com).

The first big syndicate, Dogwood Stable, still does very well (dogwoodstable.com) and is worth looking into as well.

[sunysaratoga]

I’ve got some experience with a couple of partnership groups. Currently I am with Hibiscus Stables (http://www.hibiscusstables.com)and I happen to like them the best. The managing partners are very accessible, I get 1-2 email updates a week - the communication from them is better than any of the other groups. They really make me feel welcome as a partner. We meet often on days when our horses are racing and at the barns. Very nice people.

One thing that’s also nice about them is that you can buy a little bit of each horse. They don’t force you to take 10% of only one horse and then have you sweat it out hoping I picked the best one. They’re a down to earth yet a classy group of people and the partnership shares are reasonably priced based on what I’ve seen over the years. The first time I got on the phone with Doris Ann she made me feel like a member of the family.

I know some folks that speak highly of Westlake Thoroughbreds as well. One suggestion I have, regardless of who you choose to work with is to get references.

[uncbossfan]

Thank you guys for all the replies, and PM's. I have been out a few days and am trying to get back to everyone. Good luck on a nice weekend card of racing! I'll be at River Downs probably all 3 days.