anyone been involved in a partnership?

[Dave Schwartz]

I am assuming -possibly incorrectly - that this is about wagering partnerships as well as horse ownerships.

I have been involved in two betting partnerships.

Both worked out very well.

IMHO, you have to begin with an clear understanding of what each party is going to be responsible for doing. This includes not only during the start-up phase but also as the partnership and business matures.

I think that second part is where it usually breaks down, just as with any other business.

Most biz partnerships have a money-man and a worker bee. During the start-up phase the worker bee is thrilled to have the partner's money to give him a chance at building something.

The problem comes when that "something" is actually built and generating profit. At this point the worker bee says, "I am doing most of the work! I deserve more," and the seeds of upcoming problems are sown.


Dave

[classhandicapper]

Originally Posted by Dave Schwartz

Most biz partnerships have a money-man and a worker bee. During the start-up phase the worker bee is thrilled to have the partner's money to give him a chance at building something.

The problem comes when that "something" is actually built and generating profit. At this point the worker bee says, "I am doing most of the work! I deserve more," and the seeds of upcoming problems are sown.


Dave

It's tough to explain to a worker bee that the capital making his current job possible was accumulated by the money man's previous role as a worker bee.

[Mineshaft]

Originally Posted by sammy the sage

you might try pm'ing the poster...Lambo...if he doesn't chime in....he'll tell it like it is/was...

he dont accept PM's

[tanner12oz]

Ok here's a another question..if I wanted to get up in running in something low level at a lower grade track what am I looking at before I even think about getting involved..10k? 20k

[deathandgravity]

Did a few 5+ years ago on the old Del Mar Forum. (back when it was half decent) Mainly P6 pools on big days like Derby/BC. I forgot who ran them, but hit a couple consultation prizes... never the big $$.

[lamboguy]

I've had the same partner for 30 years. he picks out the horses at the sales, brakes and trains them, i put up all the money. i made money for about 26 out of the 30 years. i stopped buying horses 2 years ago because i don't think i can make money any more at this.

the good part about being involved in this business is that it helped me at the betting window's.

[tanner12oz]

Originally Posted by lamboguy

I've had the same partner for 30 years. he picks out the horses at the sales, brakes and trains them, i put up all the money. i made money for about 26 out of the 30 years. i stopped buying horses 2 years ago because i don't think i can make money any more at this.

the good part about being involved in this business is that it helped me at the betting window's.

what circuit?

[lamboguy]

Originally Posted by tanner12oz

what circuit?

we go all over. at one time when the first 2 year old race that came up in Aqueduct, if there were 8 horses in it seven came from us. we had plenty that were in Southern California, and lots in all the South Florida tracks. occasionally we had horses in the April Keeneland meet before they went to synthetic.

[tanner12oz]

Claiming? Yearlings?

[lamboguy]

Originally Posted by tanner12oz

Claiming? Yearlings?

i never claim horses. we send out first time starters.

[Mineshaft]

Anyone remember R&J stable? I think that was the name.
I bought in on one horse and the horse was very profitable.
Collecting the money was a different story.

[onefast99]

Originally Posted by tanner12oz

Ok here's a another question..if I wanted to get up in running in something low level at a lower grade track what am I looking at before I even think about getting involved..10k? 20k

Here are the basics for low level claiming...
1)you get what you pay for, no one will have more information then the guy dropping the horse down to a 5k claimer. Buyer beware!
2)"the money drop" great way to make a claim, the current owners owe a bunch of $ to the trainer they drop to collect a quick buck, I have been fortunate to have claimed 2 this way one went on to make over $300k.
3)Do your homework. Make sure you have a good set of eyes(trainer)with you looking in the paddock at the horse you want to claim(you have plenty of time before you drop the slip), check the vet reports at the tracks the horse has raced at was the horse scratched due to the vet? Was the horse on any cannot race list at any previous tracks?
4)The jip outfit claim, great way to move a horse up, the current connections won't spend anything to help the horse run better they want to cut their losses. Don't expect claiming one from a top trainer to do any better than it already has shown.
5)What a great name claim, because the horse has the same name as you or your wife or kid isn't a reason to claim it, I have seen this happen numerous times go ahead and laugh, people buy things for the most ridiculous reasons!
6)Have fun...no matter what you do the vast majority of those buying a race horse lose money. If you have the disposable income to do so then by all means go for it, there is no better feeling then to see your horse winning and heading to the winners circle for that $22.00 picture, oh BTW you can always make copies of that picture for pennies!!!

[Driver8]

I've been involved with Horseplayer's Racing Club for several years and can tell you it's been a great experience. I've bought in to a number of partnerships with HRC. It's horse racing so you're going to have some horses that don't pan out and others that do end up being profitable. The operation is very well run and the managing partner really knows his stuff. If you're looking for an honest and affordable group to be involved with then I definitely recommend them. Here's the website:

www.horseplayersracingclub.com

[affirmedny]

A friend of my father's was part of the syndicate that owned the harness horse Camtastic, a winner of over 2 million. As far as I know he never received a penny of the earnings.

[madera12227]

How about Blinkers On....has anyone had any experience with Blinkers on Partnership. If yes was it worth it?