Racehorse ownership

[Big Peps]

I have owned and still own horses, have worked with several different trainers, some large and some smaller. I love to be involved with owning my horses, what I mean by that, is I love to be a long for the ride, I love getting a call or text from the trainer after a nice work, discussing where and when they think they should run next. BS-ing about bad and good races. Hanging out at the track, visiting them in the morning and feeling like the trainer gives a shit and appreciates your business. They are out there and there are just some FANTASTIC people in this game training horses. You wont get a lot of the day to day stuff with larger trainers, better be on equibase if you want to know when your horse works or get to know one of their assistants, etc. I use three different trainers in different locations and can say, I like them all very much. Good people and friends, I root for them all outside of my horses, they may not be the biggest or win at the highest %, but they are solid people and consider them all friends for sure. I also like to claim, so if you have a good claiming trainer, they are always looking for you, if they know you are in the market and know who to drop on and who not to

All that being said, don't disrespect somebody's livelihood and craft by micromanaging and telling them how to train a horse, or what to do. If you think you can train horses, then go do it. You aren't there everyday so don't pretend that you are. You pay them well to train your investment. Don't be that guy or gal who wants to control everything or train the horse via text, just find the right trainer who operates the way you want and gives you the involvement you are looking for. Like I said, so many good people out there to work with.

I build custom homes for a living and deal with weekend warriors who love to spend their Saturday's between Home Depot and their home butchering up their latest home improvement project. It's rare that I run into somebody that can actually do very nice work but they are out there, sometimes it's best to hire PROS and let them do their jobs

[chadk66]

Originally Posted by Big Peps

I have owned and still own horses, have worked with several different trainers, some large and some smaller. I love to be involved with owning my horses, what I mean by that, is I love to be a long for the ride, I love getting a call or text from the trainer after a nice work, discussing where and when they think they should run next. BS-ing about bad and good races. Hanging out at the track, visiting them in the morning and feeling like the trainer gives a shit and appreciates your business. They are out there and there are just some FANTASTIC people in this game training horses. You wont get a lot of the day to day stuff with larger trainers, better be on equibase if you want to know when your horse works or get to know one of their assistants, etc. I use three different trainers in different locations and can say, I like them all very much. Good people and friends, I root for them all outside of my horses, they may not be the biggest or win at the highest %, but they are solid people and consider them all friends for sure. I also like to claim, so if you have a good claiming trainer, they are always looking for you, if they know you are in the market and know who to drop on and who not to

All that being said, don't disrespect somebody's livelihood and craft by micromanaging and telling them how to train a horse, or what to do. If you think you can train horses, then go do it. You aren't there everyday so don't pretend that you are. You pay them well to train your investment. Don't be that guy or gal who wants to control everything or train the horse via text, just find the right trainer who operates the way you want and gives you the involvement you are looking for. Like I said, so many good people out there to work with.

I build custom homes for a living and deal with weekend warriors who love to spend their Saturday's between Home Depot and their home butchering up their latest home improvement project. It's rare that I run into somebody that can actually do very nice work but they are out there, sometimes it's best to hire PROS and let them do their jobs

amen

[Fager Fan]

Originally Posted by Twin Double

What happens when someone claims a cheap 5k claimer and after 4 or 5 races it's apparent the horse just no longer has any competitive spirit. At this point it's obvious no one else is going to claim the horse and the owner doesn't want to keep paying a $X amount a day training fee. In short, what happens when the owner stops paying his bills on the claimer? Does ole Rudy Rodriguez start threatening you with baseball bats LOL (kidding, but serious on general question)

You retire the horse, and that's how you stop the bills.

[johnhannibalsmith]

Originally Posted by Big Peps

I have owned and still own horses...

This is a great post.

[classhandicapper]

Originally Posted by Twin Double

If you don't mind me asking, how did you get into horse ownership?
Did you grow up around horses and learn all about them as a youngster
and it's basically the family biz, or did you one day just decide to take a gamble and put in a claim and you were off building up your stable?

A good racetrack friend of mine put together a partnership and had been asking me to buy in for quite awhile. All the stars lined up early in 2016 in terms of the trainer he was using, the horses he had, and the price he was asking to buy in. So I decided to have some fun.

[Stoleitbreezing]

I joined a partnership a couple of years ago and initially purchased 4% of the horse at 2% units at $400 each. I paid a monthly assessment for training and keeping the horse boarded and fed. It ranged from $10 dollars per share or $40 dollars when she was at the farm and not training to $25 dollars per share when she was in training/racing.

I went into it to embrace the owner experience and take full advantage of my owner status. For that reason I bought into a horse that was based in Illinois near my home. The only local horses that were available on the partnership website were 2 YOs and after an injury setback my filly missed the races at 2. When it was time to debut her at 3 she was actually the peoples choice, but after flashing decent speed faded to last. She would continue racing in the maiden claiming ranks thereafter and would hit the board or finish mid pack in most of her races. As a 4 YO and still a maiden she ran off a nice string of a 4th, 2nd, and two 3rds and actually paid her way a few months. However, we would never meet in the winner circle.

I wanted so bad for her to win I would routinely view the condition book to find out her possible races or handicap the competition when it was time to run. While it was disappointing she wasn't a quality filly I took solace in the fact she wasn't completely hopeless and usually made a decent account of herself when she ran.

Why Be an Owner
I received my owners license each of the two years she ran and thoroughly enjoyed the perks of being an owner. I would drive to the track whenever I wanted and used the horsemen lot to park and make entry into the park using the horsemen entrance. I would also drive to the backside to visit my horse and take videos or pictures of her as well as discuss her progress with our trainer. I made it out to all, but two of her 12 career races and enjoyed seeing her in the paddock and was on the rail for each stretchcall.

Our trainer was a solid, experienced, horseman and was very personable and responsive when I arrived at the barn or sent him an occasional text. We would also watch the reply of her races after it was run and discuss her trip and next race options. He was an honest trainer and told it like it was. He also mentioned our horse had a breathing problem and would make a "noise" after the race or in the mornings sometimes. This likely affected her ability to "close the show" or stretchout to routes despite her long frame.

Sadly, on the stetchout to a mile she received some ankle or knee injury and the decision to retire her was made. The expense to wait for her recovery and return to the races as a 5 YO were too great given her modest ability. I sort of figured this may happen given the partnership's stance on campaigning horses who don't pay there way after a decent amount of time. She was given away for free to a thoroughbred retirement foundation without a standout pedigree.

The partnership may make a claim this summer and as long as I'm financially able to I'll probably take another small swing at that elusive winner's circle photo.

[Twin Double]

I want to thank everyone on this thread for taking the time to answer my questions and telling their experience as an owner. Big Peps I wasn't meaning I was going to be a "know it all" and try to be bossing some trainer around. As I mentioned in an earlier thread I have absolutely no horseman experience at all, so that would be pretty darn foolish. I have the highest respect for everyone in the racing business, from the major track superstar connections all the way down to the poor 0-80 trainer at a bush track. I'm realistically probably a couple years away from making the step toward small claimer ownership, but in the meantime, I will continue to educate myself and research it as much as I can. Reading posts from knowledgeable people like you guys/gals is a start

[Sam Ferguson]

I've been in the game for over 30 years. From farm hand, professional, and owner. There's nothing like the power, beauty, and spirit of the thoroughbred racehorse.
But
I've never seen the business as corrupt as it is today. The lack of transparency is killing the sport. It's not only hard as a spectator, or bettor, but even harder for the new owner. And,as it's been well stated in other posts, there are a multitude of different levels of failure: from the breeding, foaling, raising, breaking and training, to racehorse management. If one really wants to have fun, and be a little successful, he needs to know the pros at all the different levels. And an owner, particularly with a condition book, is just about guaranteed to NOT be a pro.

My suggestion: if interested in ownership, take baby steps. Racing syndicates are not baby steps: they're hedge funds. Just do your homework; know some basic statistics like 85% of all horses, no matter how much you paid for them, are claimers. Realize going to the races is like going to war: so who do you want in that foxhole with you? And if you go so far as breeding them, remember joy is defined by sorrow. And sissys run like sissys.

[RaceBookJoe]

I had always wanted to own a race horse. Back in 2011 I had the chance to invest in one, so I did. Smaller stable based out of NY. Got really lucky at first, she won her maiden race @ Saratoga. 2 months later I got to go to the Breeder's Cup with her, she ran well until a bone chip issue happened and she faded, sadly it was her last race. Tried rehabbing etc, but finally retired her. Overall, it was a thrilling experience and one I had always wanted to try...if its on your bucket list and you have disposable cash, go for it.

[thespaah]

Originally Posted by Twin Double

I always wondered what the other side of the sport was like. If for example, I claimed a 5k horse, exactly how much control do I have? For example, can I request to the trainer how often and what type of workouts I want the horse to have? Would the trainer listen to me regarding what races to put him in? I only ask because, in a way, the owner of an NBA team doesn't exactly run down in the middle of a game and tell the coach what play to run. In horse racing though, I'd be damned if I was going to spend 10k on horse and only have him stand in the stall between races. I've been pondering getting an owners license (after considerable research) and making a cheap claim. I'm just very naive about that side of the game.

The way I see it is this. If one wishes to hire a professional to do work for him/her because they themselves are incapable of doing it, then they entrust the expertise of that professional.
In other words, let the guy do his thing and just write the check.
If one wants to be a buttinski and make suggestions or even command decisions, my suggestion is for that person to do the work themselves.
In other words, if one hires me to do something i'm good at( I can wire your home for communications/entertainment) don't come to me and tell me how to perform the tasks...
I've been on the backstretch. And in my experience, short in duration as it may have been, most owners don't know a furlong from a fur coat.

[thespaah]

Originally Posted by Big Peps

I have owned and still own horses, have worked with several different trainers, some large and some smaller. I love to be involved with owning my horses, what I mean by that, is I love to be a long for the ride, I love getting a call or text from the trainer after a nice work, discussing where and when they think they should run next. BS-ing about bad and good races. Hanging out at the track, visiting them in the morning and feeling like the trainer gives a shit and appreciates your business. They are out there and there are just some FANTASTIC people in this game training horses. You wont get a lot of the day to day stuff with larger trainers, better be on equibase if you want to know when your horse works or get to know one of their assistants, etc. I use three different trainers in different locations and can say, I like them all very much. Good people and friends, I root for them all outside of my horses, they may not be the biggest or win at the highest %, but they are solid people and consider them all friends for sure. I also like to claim, so if you have a good claiming trainer, they are always looking for you, if they know you are in the market and know who to drop on and who not to

All that being said, don't disrespect somebody's livelihood and craft by micromanaging and telling them how to train a horse, or what to do. If you think you can train horses, then go do it. You aren't there everyday so don't pretend that you are. You pay them well to train your investment. Don't be that guy or gal who wants to control everything or train the horse via text, just find the right trainer who operates the way you want and gives you the involvement you are looking for. Like I said, so many good people out there to work with.

I build custom homes for a living and deal with weekend warriors who love to spend their Saturday's between Home Depot and their home butchering up their latest home improvement project. It's rare that I run into somebody that can actually do very nice work but they are out there, sometimes it's best to hire PROS and let them do their jobs

[thespaah]

Originally Posted by Twin Double

Thanks for the reply. According to your response, I guess make sure you have a "worse case scenario" plan in place already. Makes sense

Caring for the animal that can no longer compete is priority number one.
Getting that horse to a new home is not only a duty, but an obligation.
Retired race horses have many uses, post racing career. Many become hunters/jumpers. Some( geldings) get to become "teasers" at breeding farms. Others are just turned into pleasure horses. And others become pets.

[johnhannibalsmith]

Originally Posted by thespaah

Caring for the animal that can no longer compete is priority number one.
...

If we are going to be corralled under some federal umbrella sooner or later, I hope somewhere in that process we start asking some of these extremely comfortable bigwigs that presume themselves to be the epitome of 'real horse racing' to chip in together, maybe some matching federal resources, even land for use, some of those lovely tax credits, whatever, not my department, and get cranking on setting up some kind of real pension system that doesn't favor the horses that were likely in the least danger anyway. Of all the things that racing needs to do for so many reasons - and as cynical as I am I refuse to believe that it is impossible if the people invested in their horses would be willing to be as invested in the industry to protect the former investment would really give it a shot - I'm with you on the priority. Just get the ball rolling to get it started and we'll have an obligation to preserve it. Doing it as individuals the way that we do it now is only going to get harder as the open space disappears and people just don't want OTT horses the way they did even a few years ago. Please.

[Fager Fan]

Training a horse costs $30k yearly minimum. Then there's the cost of the horse. Do the math. If you're paying a few hundred bucks for a piece of a horse, the numbers don't add up. You're probably buying into a horse with zero value.

It's be better to chip in with a group of friends and have your trainer claim you one. Then you'll at least get an education for your money.

[Fager Fan]

Originally Posted by thespaah

The way I see it is this. If one wishes to hire a professional to do work for him/her because they themselves are incapable of doing it, then they entrust the expertise of that professional.
In other words, let the guy do his thing and just write the check.
If one wants to be a buttinski and make suggestions or even command decisions, my suggestion is for that person to do the work themselves.
In other words, if one hires me to do something i'm good at( I can wire your home for communications/entertainment) don't come to me and tell me how to perform the tasks...
I've been on the backstretch. And in my experience, short in duration as it may have been, most owners don't know a furlong from a fur coat.

You make it sound like an owner is either an idiot butting in or has to sit back in his idiocy. The reality is that there are things that most owners can have a valid opinion on. They can usually see when a jock is giving bad rides, or if a horse should race at a certain level. The longer youre an owner and the more you learn, then you can add valuable input in a number of places. An owner must be wise enough to know when he should give input or even possibly overrule a trainer and when he has to trust in his trainer's experience and opinion. It's a give and take. Trainers aren't infallible, even the ones at the very top of the sport.