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Originally Posted by fmc123412
I am with trying to answer a very difficult question. And I would appreciate if anybody gives me a good insight!
I am 24 yo, and I was offered to enter in a partnership on buying a race horse here in Brazil.
The horse is a claimer (this means, probably, that he will win nothing at all!).
Would you enter on this partnership if your monthly spents will be 10% of your salary?!!? The horse price is 20% of my monthly salary.
Assume that the horse is on good conditions and the trainer is not trying to sheat me!
Moreover, I intend to sell the horse in one year and buy an unraced colt/filly next year...this first year is just to get experienced.
Thank you!
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While I appreciate your spirit of wanting to forge into the game, I can only tell you to really think it out and to keep this one thought in mind when thinking in terms of finance:
IF YOU BOUGHT INTO THE HORSE AND HE DIDN"T WIN FOR 6 MONTHS, COULD YOU PAY FOR YOUR SHARE OF BILLS ON TOP OF WHAT YOU EXHAUSTED FOR THE HORSE?
Make sure you ONLY spend money that is hobby/leisure money - or that which is expendable income....not 'rent' money, so to speak...
Also, if the answer to that financial question is 'Yes', then you'll want to do your homework to make sure you understand the entire deal...what you are responsible for....what is your share in the horse...whop has the decision making power in the partnership.....How good is the trainer and does he have a plan....Is the trainer or business manager accountable and honest...etc...
Even though it is a hobby for most, it can be a shocking experience that leaves people with a bad taste in their mouths if you don't understand what you are getting yourself in to, and I would hate to see you get run off by this sport by lunging into the wrong situation because there are a lot more things that can go bad in this sport before they go good....I want to breed new owners in the biggest way, but that also means that I want new owners to come into this game well-informed and as smart as they can be about the situation so that we can keep you in the game.
By the way, did you say that you were living in Brazil?..Or that you were buying a horse from Brazil to ship to the States?
Just do your HOMEWORK!!!