I have $25,000

[rrpic6]

Originally Posted by mountainman

My advice is to put in a swimming pool. T-bred ownership will eat your 25k without a burp, sir.

Well said Sir! Wish I had taken that advice quite a few years ago. I had money to pay off my house or buy a thoroughbred and run at Mountaineer. I still have a mortgage.

RR

[The Judge]

Do a little more research, talk to people who own horses at your track. It seems that you want to be owner and have some fun. Nothing wrong with that.
There are lots of perks, your get to see you horse run , you get your name in the program and the racing form (if there are a lot of partners you have to work that out,) you get to go on the back side and visit your horse, you get to sit with the other owners (sometimes in a special area of the clubhouse as well as the outside area,) you get a owners license, you get in free, you get passes for friends, at some tracks you get free and special parking, you go to the paddock and meet the jock before the race,everyone knows you own a race horse.

What I would do is.

Get partners who will share the expenses remember horses get hurt and even when they aren't you will be getting a Vet bill along with the trainer's bill.

If you don't know some folks you trust, ask some of the claiming trainers who have a good reputation at the track if they know any good people looking to buy a horse. I would rather be partners with people just starting out, people in the same economic class as myself and folks trying to have a little fun.

Remember they pay to 5th place this is important to an owner. Very seldom will you get a check but it does happen and boy does it feel good. Even if you don't get a check and have to pay it hurts a lot less when your hose has finished 3rd in one race and 4th in another.

If you claim an older horse what you see is what you get. If he is running for $5,000 before you own him, guess what?

A younger horse that's up for a claim is headed down, not up. Even if that's not always the case that's the way you should look at it from an owner's view.
Remember horses eat the best oats and they get pretty good care even when he is laid up and not making any money, they get rubbed down, legs bandaged, they get electrolytes, vitamins ,they have a private stall, they get all of this whether they are "Johnny Slow Poke" or " Secretariat".

One of the most important things is how do you get rid of the horse? Say he not going to race again. Some mares have value as breeding stock if the have a good pedigree and can be sold for some money (small amount normally).
Most trainers can help you here.

There is at least one trainer on here that knows the game and people seem to like and respect. I think he post's under McShell Racing Stable or something close I am sure he knows the pitfalls as well as anyone.

Hey ,as long as you are trying to have some fun and can stand it, I say give it a try, you only go around once.

[Show Me the Wire]

I f you are truly serious, you need to decide if you want a business or social activity.

Social activity get a partner and run the horse at your local track. If a business no partners, partners complicate matters and never make your trainer a partner.

Interview trainers, have them give you a tour of their shedrow and operation. Learn their philosophy about winning a race. Have them explain the condition book to you. You need to understand the book to select the appropriate stock. If they don't like dropping sound horses for the win, or claiming off other trainers walk away.

Next is finance. If you decide on a trainer, you need to reserve a few months of training expenses from your total capitalization. Select a circuit, which has enough purse money to make your investment worthwhile. Figure a break even point, per purse structure, for your purchase, if you have to drop for a win. Never claim a bottom level claimer as you are already at the bottom.

It is very important to be able to keep regular tabs on your investment, by attending works and daily exercise often. Do not base your trainer selection on low day rates. As anything else in life, you get what you pay for.


There is much more you will need know, before you make this decision, but this is the starting point.

If you want to own it can be the most exciting and rewarding investment or the worse. Depends on your business acumen and desire.

[Show Me the Wire]

Also, very important seek out other small owners on your circuit and talk to them. Most will be happy to share their experiences with you and give you insights.

[CryingForTheHorses]

Originally Posted by elhelmete

Hypothetically.

What's the best way to get into the game as an (new) owner?

Assumptions:

I've enjoyed the game as a (non-whale) bettor for a while.

I live in a major market...A or B level track where the purse/claim structure would allow my $25K to get me into something.

I do not have Triple Crown stars in my eyes.

My advice is to start small.Here at Gulfstream you can claim a $6250.00 horse and the purse is almost 18k.They also have another condition that is nw since a date for 18k.To put 12k in a horse and hope he is good imo is a little much for your first claim .Claim a hot horse,Hopefully win with him.Have a guy that is up front about costs to you and most of all stay away from the big outfits as they will bleed you to death with this and that.Find a hands on trainer who works on his own horses instead of standing around patting himself on the back...JMO..Good Luck to you

[tbwinner]

Use a supertrainer or a claiming trainer who has consistently high %s that doesn't get them dropping all the time....and claim someone's best horse. And that someone would be a trainer that has a win % <5%.

[tbwinner]

Also ask to see REAL, hard copy examples of vet bills for MULTIPLE horses.

I had a trainer quote me that their vet bills were "between $200 and $400 monthly, $600 high side"...two months in I got a bill for $1,300....

This also helps see if your trainer knows what they're doing or is highly reliant on the NEEDLE.

[Linny]

I know plenty of people in partnerships from small localized outfits to the big ones like Team Valor and WPT. Some are happy, others less so. The biggest issue is the markup on young stock is date-rape. A few years ago I saw a major outfit listing a 2yo on their site for $10k for 10%. I looked the horse up and he'd lost a MDCL$50k at Parx already and they'd only paid $30k for him! Do your research!
Some partnerships deal with claimers mostly and work on churn. They claim, they try to win a bit but if they lose the horse, they move on. They usually take decent in form type horses.

I have often considered what I would do with that kind of money to invest in the game. I think that I would probably approach a leading claiming owner and ask if I could go in with them on something, maybe offering to sweeten the deal by putting up extra money relative to my share to compensate them for their taking on a partner. I'd rather have 1/4 of 3 horses claimed by Maggi Moss or Michael Dubb than all of much of what's out there. Speaking of which, I'd prefer to have enough money available to spread around to more than one horse. It's to likely for something to go wrong with one horse.

As for any partnership, whether it's an established outfit or you teaming up with someone, you are probably not going to have as much fun if you are constantly telling the managing partner what they should claim or where they should run. If you want to go "manage" your horse(s) then you will need to put up your own money for the whole deal. Some partnership managers invite partner input, many don't.

[forced89]

Originally Posted by elhelmete

Hypothetically.

What's the best way to get into the game as an (new) owner?

With $25k there are three ways to go. (1) buy a yearling; (2) buy at a 2 yo in training sale; or (3) claim.

(1) Buy a yearling. This one is tough because of the costs breaking and training before you get to the track. In addition you would probably have to limit the cost of the yearling to less than $5k. And then there are the unforseen things that happen to young horses which can set you back and run you out of money.

(2) Buy at a 2 yo in training sale. This is also tough. If you limit the amount you pay to under $10k, you will have enough money for about 6-7 months training which may not be enough. If you spend less than $5k for your 2 yo, chances are you will have enough cash to get your horse to the races but your chance of getting a good one for $5k or less is questionable.

(3) Claim one. I think this is the best choice for a newby. Two rules. First, select a trainer you trust. And second, claim one for two to two and one half times the minimum claiming price at the track you have chosen. This way if you make a mistake or the horse you have claimed isn't working out, you can drop him in for a lower price and probably get him claimed from you and some of your money back with which to try again.